PSE opens 2013 Bell Awards for Corporate Governance
The Philippine Stock Exchange, Inc.
Following its successful inaugural staging in 2012, the Philippine Stock Exchange is now working on the 2013 PSE Bell Awards for Corporate Governance. The Bell Awards was launched by the PSE in 2012 as one of its key programs to promote good governance practices among listed companies and trading participants by recognizing those that adhere to higher governance standards.
"We were very pleased with the outcome of the 2012 Bell Awards which was graced by no less than President Benigno S. Aquino III. Given the continued bullish run of the market and following the credit rating upgrade given to the country, we think that the Bell Awards has become even more relevant. We need to continue to showcase as a country that we are indeed a viable and credible investment destination," PSE President and CEO Mr. Hans B. Sicat said.
The PSE will honor five (5) Awardees from among the 254 listed companies ("LCs") and six (6) Awardees from among 134 trading participants ("TPs") under two categories (large and small brokerage firms) during the Bell Awards Ceremony slated in November.
The criteria for listed companies will be based on The Corporate Governance Guidelines for Listed Companies issued by the PSE in 2010, while the trading participants will be judged based on the results of their regulatory audits by the Capital Markets Integrity Corporation (CMIC). Both sets of criteria will further include compliance with PSE and SEC rules, pertinent laws, and regulations of other pertinent government agencies, as well as other factors.
The PSE has begun its preliminary evaluation of candidates for the 2013 Bell Awards. Apart from their submissions to the PSE, candidates will be evaluated based on publicly available information. The distinguished Bell Awards panel of judges will be composed of prominent experts who were selected for their independence, integrity and commitment.
The 2012 awardees were Ayala Land, Inc. (ALI), China Banking Corporation (CHIB), Globe Telecom, Inc. (GLO), Manila Water Company, Inc. (MWC) and SM Prime Holdings, Inc. (SMPH). Trading Participants awardees were CLSA Philippines, Inc.; COL Financial Group, Inc. and Macquarie Securities (Philippines), Inc. for the large brokerage houses category, and Armstrong Securities, Inc.; PCIB Securities, Inc. and Tri-State Securities, Inc. for the small brokerage houses category.
"Given the attention that we are getting from investors here and abroad, I think it becomes even more important that companies with higher standards for governance are given due recognition by the PSE. We hope that the second edition of the Bell Awards will sustain the momentum on the Exchange and as a country," Mr. Sicat added.
For more information on the PSE 2013 Bell Awards, please visit the PSE website at www.pse.com.ph or e-mail the Corporate Governance Office (CGO) through email@example.com.