IFC Backs PSE in Corporate Governance Listing Initiative
MANILA, Philippines - International Finance Corporation (IFC) , a member of the World Bank Group, with its Global Corporate Governance Forum and the Philippine Stock Exchange are taking the lead on improving the business environment for private sector development by promoting improved corporate governance practices.
IFC's Global Corporate Governance Forum is supporting the Philippine Stock Exchange's initiative to set up the Maharlika Board, a special listing segment for companies committed to excellence in corporate governance beyond what the law requires.
"With the Maharlika Board initiative, the Philippines is blazing a trail in promoting corporate governance in East Asia," said Hans B. Sicat, Philippine Stock Exchange President and CEO. "We remain optimistic that our partners in the government and the private sector will support this reform, which is designed to lift investor confidence and boost the development of local capital markets."
IFC's Global Corporate Governance Forum, working with Philippine Stock Exchange and the Institute of Corporate Directors, today convened a business-investor dialogue attended by senior executives of some of the largest publicly listed companies in the Philippines and selected domestic and international investors. …