PSE to present new framework for reforms to attract investors

The Philippine Stock Exchange (PSE) will present to President Arroyo a new framework for reforms to attract more investors in the local equities market during the roadshow launching the "New Exchange" on Sept. 16.

PSE president Ernest Leung said the roadshow is a multisectoral initiative – with the involvement of senior government officials, listed companies and trading participants – to revive interest and bring back the glory days of the stock market.

"The event will be highlighted by a presentation of a framework for the revitalization of the Exchange for mobilizing capital and broadening opportunities for the investing public to share in the wealth creation process," Leung said.

Aside from the trading participants, some 500 more attendees are expected from the business and finance sectors, academe, government as well as overseas Filipino workers’ (OFWs) organizations.

Prior to the local roadshow, there will be two earlier presentations on the Philippine equities market in Hong Kong on Sept. 9 and in Singapore on Sept. 10, sponsored by Credit Lyonnais Security Phils. and Deutsche Regis Partners Inc., respectively.

Leung added a "reform agenda" and "action programs," including the adoption of the Code of Corporate Governance and the brokers’ Code of Ethics, will also be presented during the event.

The roadshow will feature corporate presentations of selected companies listed in the Exchange, among them San Miguel Corp., PLDT and the Ayala Group, with representatives from local and foreign stockbrokerage firms facilitating the discussions.

Aside from the investment opportunities available to the target institutions, the roadshow will also present to the investing public the potential of making money in the stock exchange.

"We would like to tell the public that instead of putting their hard-earned money into pyramiding schemes, they could invest instead in the stock market, " PSE chairperson Vivian Yuchengco earlier said.