MANILA, Philippines - The Philippine Stock Exchange's (PSE) online disclosure system used by listed companies will soon be improved.
The PSE proposed to adopt best practices for listed company disclosures.
Under the new system, companies would have to submit pertinent information in financial reports and other required disclosures relating to material corporate actions and transactions, in electronic format that can be sent directly to analysts and data provides through their own systems. These disclosures include dividend declarations, notices of meetings, rights offerings and public float reports
At present, disclosures are submitted in PDF format where information is extracted using separate procedures by different users.
"The PSE is at the forefront of improving its online disclosure infrastructure and services to our listed firms. The enhanced features of the online disclosure system will help hasten the distribution of information to the public and, in the long run, rationalize the regulatory requirements for listed companies," PSE President and Chief Executive Officer Hans B. Sicat said.
The PSE is currently soliciting proposals for possible solution providers until March 01, 2013.