The Philippine Stock Exchange is the “Best Stock Exchange in Southeast Asia,” according to institutional investment magazine Alpha Southeast Asia, which recently conferred the “Marquee Award” to the local bourse.
Awarding ceremonies are scheduled during the 7th Annual Alpha Southeast Asia Best Solution and Deal Awards on Jan. 23 at the Hilton Kuala Lumpur Hotel.
The award cited the record-breaking year of the Philippine stock market despite the volatility of equities markets worldwide. Among the achievements mentioned were the PSEi’s breach of the 7,000 mark, the remarkable growth of trading activity, and the significant capital raising activity during the year. Likewise recognized were the various corporate governance initiatives spearheaded by the exchange.
Previous winners of the “Best Stock Exchange in Southeast Asia” category were the Stock Exchange of Thailand (2012) and the Indonesia Stock Exchange (2009 to 2011).
“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. This will inspire us to push for more products and services that will attract more investors to take part in our growth story. We would like to thank the organizers for this award,” PSE president Hans Sicat said in a statement.
“This award is a testament to the hard work that our board and our team have done to bring the exchange to new heights,” Sicat added.
“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 awarding panel said. “At the core of the PSE’s investment revival is its corporate governance initiatives driven from the exchange’s Corporate Governance Office. The PSE implemented an enterprise risk management system, adopting a best practice approach to risk management, common among leading exchanges around the world.”
In 2013, the PSEi recorded its highest level in May 2013, when the stock index touched 7,400 points.
Alpha Southeast Asia, an institutional investment magazine, has been paying tribute to the people and institutions behind the best and most innovative corporate investments deals and banking solutions in the region for seven years.