PSE awarded best bourse in SE Asia
MANILA, Philippines- The Philippine Stock Exchange (PSE) was named the Best Stock Exchange in Southeast Asia and was conferred the Marquee Award in the 7th Annual Alpha Southeast Asia Best Solution and Deal Awards for 2013.
“The award cited the record-breaking year of the Philippine stock market despite the volatility of equities markets worldwide, “ according to the award organizer Alpha Southeast Asia, the first and only institutional investment magazine focused in Southeast Asia.
The organizers also cited the following achievements of PSE for the year:
- breach of the 7,000 mark
- remarkable growth of trading activity
- significant capital raising activity during the year
- various corporate governance initiatives spearheaded by the PSE.
PSE president Hans Sicat said, “This is a very good way to cap the year which has shaped up to be one of the best years of the Exchange from a new product offering standpoint.”
The PSEi breached the 6,000 and 7,000-point mark this year and recorded its highest level in history with 7,392.20 points last May. The local bourse is also expected to raise almost P200 billion from its capital raising activities for 2013.
The bourse also introduced its own online trading platform, PSETradex, which boosted online investments. It is also preparing to launch its new and enhanced online corporate disclosure system, the PSE EDGE.
“The performance of the equity market irrefutably underscores how the Philippines’ equity market has been partially insulated from global volatility as it is dominated not only by local investors and a large domestic pension fund system but also foreign investors who now strongly believe in the investment fundamentals of the Philippines,” according to a fund manager who sits as a panel of the in-house Marquee Awards at Alpha Southeast Asia.
The organizers also highlighted PSE’s corporate governance programs “One of the many reasons why foreign investors have remained comfortable investing in the Philippines is due to its pro-disclosure stance from the ground up,” the panel noted.
“This award is a testament to the hardwork that our Board and our team have done to bring the Exchange to new heights. We will remain committed to our plan to become a premiere exchange in the region by expanding our product and service offerings while adopting best practices to further our corporate governance standards in the market,” Sicat added.
The awarding ceremony is set for January 23, 2014 at the Hilton Kuala Lumpur Hotel. – Rappler.com
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