The annual awarding ceremony for the best performing listed companies and brokerage firms has been set for November 10 this year, the Philippine Stock Exchange (PSE) said.
The PSE Bell Awards for Corporate Governance is one of the cornerstone activities of the PSE to promote good governance practices among listed companies and trading participants, it said.
“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,” PSE president and chief executive officer Hans Sicat said in a statement.
“Good governance remains to be one of the reasons why the country is getting a lot of interest from investors,” he added.
In the Bell Awards, the local bourse will shortlist the candidates by recognizing 10 finalists from among all listed companies and 12 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 set standards for a sound business strategy, effective board of directors, and effective policies to protect shareholders rights.
The trading participants will be evaluated based on their compliance record, effective organizational structure and sound internal controls as audited by the Capital Markets Integrity Corp.
Both the listed companies and trading participants will be assessed on how well they comply with the rules of the PSE and the Securities and Exchange Commission (SEC), pertinent laws, and regulations of other concerned government agencies.
In the 2nd PSE Bell Awards conducted in 2013, the recipients in the listed companies category were Aboitiz Equity Ventures, China Banking Corp., Manila Electric Co., Manila Water Co. and Philippine Long Distance Telephone Co.