PSE to elect new board March 4

While still embroiled in the heated controversy over gaming stock BW Resources Corp., member-brokers of the Philippine Stock Exchange will take time off for another showdown, in the election of a new set of governors on March 4.

PSE vice president Jose Fernando Alcantara said the official list of 21 candidates for the 15-man board consists of new faces, re-electionists and previous governors. A closer look at the list of nominees and the respective firms they represent show something in common, though: None of the stockbrokerage companies, nor the personalities are linked to the BW brouhaha, except for PNB Securities which is one of three additional firms being investigated for possible trading rules violations in the BW case.

Incidentally, Augusto Cosio Jr., the nominees of PNB Securities, is seeking another one-year term, along with other current board members Edwin Luy of Triton Securities and Francisco Villaroman of Securities Specialists.

The PSE board is composed of 12 brokers and three non-broker members selected and appointed for a fixed three-year term. The three outsiders include PSE president and CEO Jose Luis Yulo, former Finance Minister and Asian Development Bank executive director Vicente Jayme and former Congressman Margarito Teves.

Jayme and Teves will continue to serve out the remaining two years of their term while Yulo's term will be expiring on April 30 this year. Until such time, the new board will decide to renew his term or replace him.

Leading the field of candidates for possible chairmanship is Felipe Yap of F. Yap Securities, who reportedly has the backing of outgoing chairperson Trinidad Kalaw as well as former governor Vivian Yuchengco of First Resources Management & Securities Corp., who herself is seeking another term.

The complete list of candidates: Nestor Aguila (Market Capital & Securities Inc.); Ang Biao (BA Securities Inc.); Don Calderon (All Asia Securities Management Corp.); Augusto Cosio (PNB Securities Inc.); Filomeno Francisco (Anscor Hagedorn Securities Inc.); Ramon C. Garcia Jr. (Diversified Securities Inc.); Ramon T. Garcia (TRG & Co. Inc.); David Go (David Go Securities Corp.); Edward Go (Investors Securities Inc.); Edgardo Guevara (Intra-invest Securities Corp.); Gregorio Kilayko (ABN-Amro Asia Securities Phils. Inc.); Rogildo Lara (Unicapital Securities Inc.); Edwin Luy (Triton Securities Corp.); Joseph Madrid (Merrill Lynch Securities Phils. Inc.);

Myron Papa (Papa Securities Corp.); Katrina Ponce-Enrile (Jaka Securities Corp.); Matthew Sutherland (Paribas Asia Equity Phils. Inc.); Remy Tigulo (SB Equities Inc.); Francisco Villaroman (Securities Specialists Inc.); Felipe Yap (F. Yap Securities Inc.); and Vivian Yuchengco (First Resources Management & Securities).

Aside from Kalaw, the other outgoing board members include treasurer Paulino Soo of Abacus Securities; assistant treasurer Eddie Gobing of Lucky Securities; secretary Ismael Cruz of IGC Securities; assistant secretary Joseph Roxas of Eagle Equities; and Emmanuel Edward Co of Aurora Securities; Roberto Coyuito Jr. of R. Coyuito Securities; Omar Cruz of Citicorp Securities International; and Federico Lim of Belson Securities.