Compliance by the Company with its Manual of Corporate Governance is strictly monitored, with all of the Company's directors, officers and employees substantially complying with the leading practices and principles on good corporate governance as embodied in the manual in year 2009. The Company has also complied with the appropriate performance self-rating assessment and performance evaluation system to determine and measure compliance.  There was no significant deviation from the Company's Manual of Corporate Governance noted during the period.  The company plans to adopt whatever new principles and practices applicable that may evolve to improve its corporate governance.

On April 27, 2010, the Company filed its Revised Corporate Governance Manual with the Securities and Exchange Commission in compliance with SEC Memorandum Circular No. 6-2009 Adopting a Revised Code of Corporate Governance.  The same was transmitted to the Philippine Stock Exchange on April 30, 2010.