PSE lauds listed firms cited by HK magazine

Source: Business Mirror

THE Philippine Stock Exchange (PSE) cheered the results of an annual poll conducted by Hong Kong-based financial publishing giant FinanceAsia, which cited a number of publicly listed firms that are the best managed in the Philippines.

FinanceAsia, a Hong Kong-based financial publishing giant collected votes from 238 investors and analysts across Asia for its ninth annual poll of top companies in the region. The poll results were released early this month.

“This acclaim for our listed firms is a testament to their respective best business practices. We believe this would redound to benefits for their shareholders. The results of the poll are strong indications that despite the raging financial crisis, many Philippine companies continue to outperform and endeavor to uplift shareholder value,” PSE president and chief executive officer Francis Lim said.

Based on FinanceAsia’s poll results, Ayala Corp. dominated three categories: “best managed company,” “best corporate governance,” and “best corporate social responsibility.” It also placed highly in the “best investor relations” category. Ayala Corp. units Globe Telecom Inc., Bank of the Philippine Islands (BPI), Manila Water Co. and Ayala Land Inc. also bagged honors in the said categories as well as in the “most committed to a strong dividend policy” and “best mid-capitalization” categories.

Sweeping “best CEO” was Ayala chairman and CEO Jaime Augusto Zobel de Ayala, while awarded as the country’s “best CFOs” were Globe Telecom CFO Delfin Gonzalez and Ayala Corp. Treasurer Ramon Opulencia.

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