GCG Disclosure and Requirements (Transparency Seal)

GCG MC NO. 2012-07 (Transparency Seal)

GCG Memorandum Circular No. 2012-07 :
Code Of Corporate Governance For GOCCs

WHEREAS. pursuant to the State declared policy of treating Government-Owned or -Controlled Corporations (GOCCs) as significant tools for economic development and the statutorily-mandated obligation of the State to ensure that the governance of GOCCs is carried out in a transparent responsible and accountable manner and with the utmost degrees of professionalism and effectiveness under governing boards which are compenent to carry out their functions fully accountable to the State as its fiduciaries and always acting for the best interests of the State. the Governance Commission for GOCCs (GCG) in the exercise of its mandate under Section 5(c) of Republic Act No 10149. approved the CODE OF CORPORATE GOVERNANCE FOR GOCCs ("CODE") at its En Banc meeting held on 26 April 2012 for formal submission to the President of the Philippines for His Excellency's approval of what would constitute as an organic document for the GOCC Sector.


Item VIII. DISCLOSURE AND TRANSPARENCY REQUIREMENTS


SECTION 43. MANDATORY WEBSITE – In accordance with Section 25 of the Act, all GOCCs shall maintain a website and post therein for unrestricted public access:

  1. FINANCUIAL AND OPERATIONAL MATTERS: Quarterly and Annual Reports and Trial Balance
    1. Balance Sheet
    2. Income Statement
    3. Cash Flows
    4. Trial Balance
    5. Current Corporate Operating Budget
    6. All borrowings (Local and Foreign) guaranteed by the Government
    7. Government subsidies​​
  2. GOVERNANCE MATTERS:

​​SECTION 43. OTHER REPORTORIAL REQUIREMENTS – All GOCCs shall also submit periodically in electronic form to the GCG the following:

  1. DIVIDEND COMPUTATIONS AND PAYMENTS
    • Dividends Paid As of March 31, 2016
  2. ​CASH AND INVESTMENT BALANCES
    • ​​As of  March 31, 2016
  3. ACQUISITION AND DISPOSITION OF ASSETS
    • CY2017
      • CY2017 1st Quarter (January - March 2017) - on process
      • CY2017 2nd Quarter (April - June 2017) - on process