The Philippine Stock Exchange (PSE) honored five publicly listed companies (PLCs) and six trading participants (TPs) with the best corporate governance practices at the 2013 Bell Awards held on November 19, 2013.
“What we confer to our finalists and awardees is not just one time success but their continued and consistent efforts to instill excellence in the way they run their businesses. It is a recognition of their consciousness to always be excellent in all the things they do, going beyond the minimum requirements to make their companies better and more relevant,” said PSE Chairman Jose T. Pardo in his speech at the Bell Awards ceremony.
Listed companies that were awarded were Aboitiz Equity Ventures, Inc., China Banking Corporation, Manila Electric Company, Manila Water Company, Inc. and Philippine Long Distance Telephone Company. Meanwhile, the Bell Awards recipients among trading participants were A.T. de Castro Securities Corporation, BDO Securities, Inc., COL Financial Group, Inc., Maybank ATR Kim Eng Securities, Inc., R.S. Lim and Company, Inc. and Salisbury BKT Securities Corporation.
The PLCs were evaluated based on their compliance with the PSE’s Corporate Governance Guidelines for Listed Companies, which provide for, among others, a sound business strategy, an effective board of directors and policies to protect shareholders rights. The TPs were assessed based on their compliance record, effective organizational structure and sound internal controls. Both PLCs and TPs were also judged based on their compliance with rules of the PSE and the Securities and Exchange Commission (SEC), pertinent laws, and regulations of other pertinent government agencies.
“During these difficult times, as the nation is faced with the tall task of helping sustain lives and rebuild communities, we are called to look at not merely the practices and principles of good corporate governance. It becomes more relevant in these challenging times to actually dwell on the core values that drive good corporate governance,” Pardo also said in his speech.
The 2013 PSE Bell Awards Panel of Judges was headed by SEC Chairperson Teresita Herbosa. Also part of the judging panel were Home Development Mutual Fund (Pag-IBIG) President and CEO Atty. Darlene Berberabe, Social Security System President and CEO Mr. Emilio de Quiros Jr., Deloitte Philippines Managing Partner and Management Association of the Philippines President Gregorio Navarro, and University of the Philippines President Dr. Alfredo Pascual.
The Bell Awardees were chosen from 10 finalists from the listed company category and 12 finalists from the trading participants group. The other PLC finalists named were Ayala Corporation,, Globe Telecom, Inc., Rizal Commercial Banking Corporation, Semirara Mining Corporation and SM Prime Holdings, Inc. while the TP finalists included A & A Securities, Alpha Securities, CLSA Philippines, Inc., First Metro Securities Brokerage Corporation, JSG Securities, Pan Asia Securities Corporation.
The PSE has 254 publicly listed companies and 135 active trading participants.
Read more at http://www.mb.com.ph/pse-honors-5-listed-firms-6-tps-as-2013-bell-awardees/#qoA3dL88Uke2wfdG.99