PDex on track to hit record P200-B bond listings

MANILA, Philippines - Corporate securities listed at the Philippine Dealing and Exchange Corp. (PDex), the country’s trading platform for fixed income securities, are on track to hit a record volume of P200 billion this year.

PDex president and chief operating officer Cesar Crisol said the corporate securities listed reached P77.39149 billion as of Aug. 20. 

This brings total outstanding listed securities to P516.78 billion to date.

Given the latest volume, Crisol expressed hopes that total listings this year would surpass last year’s P191 billion and reach the P200-billion mark. 

He urged other companies to also issue bonds to provide the investing public more opportunities for investments instead of putting their money in fraudulent investment scams. 

“We’ve highlighted the need to access real investments,” he said.

As such, PDex is trying to convince more corporates to issue debt. 

Crisol expects more issuances in the remaining part of the year, particularly from bank issuers. 

For the investing public, he advised caution, saying they should put their money instead to safe investment products such as fixed income securities. 

“There’s a lot of money out there. Some are putting their money in all these fraudulent investments,” he said. 

In the provinces, in particular, he said many of the investors in the public are duped because they are not aware of other available investment products. 

According to PDex data, there are 33 companies that have so far listed issues while the number of outstanding corporate issues has reached 98 securities. 

The Securities and Exchange Commission (SEC), the corporate regulator, has been issuing advisories against companies not authorized to issue securities on the back of the growing number of complaints from the public on the rising incidence of fraud and investment scams committed by fraudulent firms.

The latest advisory issue is against Global Intergold, which is operated by the same operators of Emgoldex Philippines, an allegedly fraudulent company.

“Per verification, Global Intergold is not also a registered corporation or partnership. Likewise, Global Intergold is not authorized to solicit investments from the public as it did not secure prior registration.

“In addition, the selling agents of Global Intergold are not authorized to offer for sale, sell and solicit investments from the public since no selling agents of Global Intergold, as of now, have secured license from the SEC to act as certified investment solicitor, investment adviser, broker or dealer in securities or salespersons of broker or dealer in securities,” the SEC said.