PSE Bares Winners of First Bell Awards for Corporate Governance
Five listed companies and six trading participants clinched the top honors in the first 2012 Bell Awards for Corporate Governance conducted by the Philippine Stock Exchange (PSE) on its 20th anniversary celebration on December 3.
The PSE Bell Awards was a highlight of the Exchange's 20th Anniversary celebration of its unification that gathered key decision makers from both the public and private sectors.
"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.
For the listed firms, the winners are: Ayala Land, Inc., China Banking Corporation, Globe Telecom, Inc., Manila Water Company, Inc. and SM Prime Holdings, Inc.
For trading participants (TP), the winners in the Large TP Category are: CLSA Philippines, Inc.; COL Financial Group, Inc.; Macquarie Securities (Philippines), Inc. For the Small TP Category, the winners are Armstrong Securities, Inc.; PCIB Securities, Inc.; and Tri-State Securities, Inc.
The PSE Bell Awards added prestige and credibility to its first corporate governance awards by tapping the expertise of respected capital markets practitioners and regulators. No less than Securities and Exchange Commission Chairperson Teresita Herbosa was the chair of the Bell Awards panel of judges. Joining Chair Herbosa in the panel are Ms. Judith Lopez, Chair and Senior Partner of Isla Lipana & Co. or PricewaterhouseCoopers; Secretary Cesar Villanueva, Head of the Governance Commission for GOCCs; Ambassador Stephen Lillie, UK Ambassador to the Philippines; Justice Estela Perlas-Bernabe, Associate Justice, of the Supreme Court; Mr. Jesse Ang, Resident Representative for the Philippines, International Finance Corporation and Mr. Antonio Garcia Jr., President and CEO of the Capital Markets Integrity Corporation.
The PSE honored the top five (5) Awardees among PLCs on the basis of their adoption of the PSE's Corporate Governance Guidelines for Listed Companies and compliance with PSE and SEC rules and other pertinent laws. …