CORPORATE GOVERNANCE

MDC is aligned with its parent company, Ayala Land, Inc. (ALI), and its ultimate parent company, Ayala Corporation (AC) in upholding the highest standards of corporate governance. MDC is firmly committed to good corporate governance as a vital element to sustained business growth and total customer satisfaction over the long term.

The company’s corporate governance practices are principally contained in the Articles of Incorporation and By-laws and are compliant with the Code of Corporate Governance and regulations adopted of the Securities and Exchange Commission (SEC). The company is governed by a Board of Directors, the Chairman, and majority of directors who are not involved in the day-to-day management of the company. A Management Committee (Mancom) composed of heads of functional groups leads the organization while managers at different levels are empowered to handle decisions based on their authority limits.

All employees are expected to exemplify the behavior and professional demeanor consistent with all laws and regulations, as well as MDC’s policies and procedures. Third-party business partners are also expected to embrace MDC’s commitment to the Ayala Group’s values and standards on corporate governance. Likewise, all employees, workers, and third-party business partners are obliged to observe all business integrity practices and programs of the company.