The Market Monitor Minding the Nation's Business
The Philippine Stock Exchange Inc. (PSE) recently recognizing listed companies and trading participants that adhere to the highest corporate governance standards through the 5th PSE Bell Awards.
Listed companies that were hailed for their corporate governance programs were Aboitiz Power Corporation, Cebu Property Ventures and Development Corporation, China Banking Corporation, Manila Water Company Inc., and Philex Mining Corporation.
Meantime, the awardees in the trading participant category were Credit Suisse Securities (Philippines) Inc., Deutsche Regis Partners, Inc., Macquarie Capital Securities (Philippines) Inc., R.S. Lim & Company Inc., and UBS Securities Philippines Inc.
The finalists and winners of the Bell Awards were decided by an independent panel of judges headed by Securities and Exchange Commission (SEC) Chairperson Teresita Herbosa.
Also part of the panel were Capital Markets Integrity Corporation (CMIC) President Cornelio Gison, Her Excellency Australia’s Ambassador to the Philippines Amanda Gorley, Asian Institute of Management (AIM) President Jikyeong Kang, and Ateneo de Manila University (ADMU) President Fr. Jett Villarin.
“Good corporate governance is not a function of company size – whether in terms of market capitalization or workforce count. Rather, it is a product of commitment and initiative,” PSE Chairman Jose T. Pardo said in his opening remarks during the awarding ceremony.
“The firm resolve to espouse corporate governance regardless of economic climate or business situation is the mark of a Bell Awardee,” Pardo added.
Aside from the awardees, five finalists in the listed company category were also recognized during the event, including Aboitiz Equity Ventures, Inc., Cebu Holdings, Inc., Manila Electric Company, Philippine Savings Bank, and Security Bank Corporation.
The PSE Bell Awards was launched in 2012 as one of the Exchange’s main corporate governance programs to help promote and foster corporate governance excellence among listed companies and trading participants.