MANILA, Philippines - Two Ayala-led companies and three Sy-led companies received the top honors at the Philippine Stock Exchange's first 2012 Bell Awards for Corporate Governance.
Ayala group's Ayala Land, Inc., Globe Telecom, Inc. and Manila Water Company, as well as Sy-led China Banking
Corporation and SM Prime Holdings, Inc. were awarded based on their adoption of the PSE's corporate governance guidelines and compliance with PSE and SEC rules and other laws.
Former President Fidel V. Ramos, the engineer of the PSE's unification, joins the PSE Board of Directors, and the PSE Bell Awards judges in a toast on the PSE's 20th anniversary. Courtesy of PSE
The PSE also handed out Bell Awards to six trading participants: (for large category) CLSA Philippines, Inc.; COL Financial Group, Inc.; Macquarie Securities (Philippines) and (for small category) Armstrong
Securities, Inc.; PCIB Securities, Inc.; and Tri-State Securities, Inc.
The trading participant awardees were selected based on results of their regulatory audits by PSE and Capital Market Integrity Corporation as well as compliance with PSE and SEC rules.
"Through the first PSE Bell Awards for Corporate Governance, we hope to deliver the message that the Exchange joins the government and the private
sector in upholding good governance in the country. We want to highlight the importance of good corporate governance through the PSE Bell Awards. Through
this initiative and others in the near future, we hope to sustain the confidence of investors in our market which has pushed the index to break record highs," PSE President and Chief Executive Officer Hans B. Sicat said.
The Bell Awards were handed out during the PSE's 20th anniversary of its unification on Monday evening.
The PSE issued its corporate governance guidelines for listed companies in November 2010, complementing the code of corporate governance of the SEC.
PSE chairman Jose T. Pardo said there is a need to further raise awareness about the stock market.
"We need to collectively intensify market education, or raise awareness about the stock market as a credible form of building wealth. We call on our partner brokers to reach out to investors who are hungry for information and have a larger appetite for risk," he said.