Makati—(PHStocks)—The Philippine Stock Exchange Inc. (PSE: PSE) has announced that the PSE Bell Awards for Corporate Governance will be held on November 10, 2014 at the Makati Shangri-La. The Bell Awards is one of the cornerstone activities of the PSE to promote good governance practices among listed companies and trading participants.
“Good governance remains to be one of the reasons why the country is getting a lot of interest from investors. Through the PSE Bell Awards, we are telling the global investing community that good governance is supported and adhered to across all sectors of the economy including businesses and the private sector,” said PSE President and CEO Hans B. Sicat.
The PSE will shortlist the candidates for the awards by recognizing 10 finalists from among all listed companies and 12 finalists from its trading participants.
The listed companies will be assessed based on their compliance with the PSE’s Corporate Governance Guidelines for Listed Companies, which sets standards for, among others, a sound business strategy, an effective board of directors and policies to protect shareholders rights. The trading participants on the other hand will be evaluated based on their compliance record, effective organizational structure and sound internal controls as audited by the Capital Markets Integrity Corporation. Both the listed companies and trading participants will also be gauged on how well they comply with rules of the PSE and the Securities and Exchange Commission (SEC), pertinent laws, and regulations of other pertinent government agencies.
In the 2nd PSE Bell Awards conducted in 2013, the recipients in the listed companies category were Aboitiz Equity Ventures Inc. (PSE: AEV), China Banking Corp. (PSE: CHIB), Manila Electric Co. (PSE: MER), Manila Water Company Inc. (MWC) and Philippine Long Distance Telephone Co. (TEL). Awardees from the large trading participants category were BDO Securities Corporation, COL Financial Group Inc. (PSE: COL), and Maybank ATR Kim Eng Financial Corp. (PSE: MAKE) while A.T. de Castro Securities Corporation, R.S. Lim & Company, and Salisbury BKT Securities Corporation received the Bell Awards for the small trading participants category.
In the past PSE Bell Awards, SEC Chairperson Teresita Herbosa was at the helm of the panel of judges and was joined by other esteemed and accomplished individuals from the academe, business, and public service.
“The selection process for the Bell Awards is no easy task. We want to have members of the Board of Judges who are not only well known but very well respected in their fields. We would like to preserve the integrity of the awards by choosing the right individuals for it,” Sicat added.