Bourse turns to HK-based Pinoys to perk up trade

04/29/2008

The Philippine Stock Exchange (PSE) recently held a roadshow in Hong Kong as part of its program to step up efforts to get more investments and perk up the local stock market.

During the roadshow, PSE president Francis Lim delivered a presentation for an estimated 150 top portfolio managers based in Hong Kong, and held one-on-one meetings with some of them.

The PSE’s Hong Kong roadshow coincided with the Credit Suisse Asian Investment Conference (AIC) and the working visit there of President Arroyo from March 29 to April 2.

In his presentation, entitled “Updates and Developments in the Philippine Stock Market,” Lim discussed the growth performance of the local equities market during the last 5 years. He also gave the fund managers an update on reforms being implemented by the PSE to assure the market’s integrity, enhance PSE’s operations and protect the rights of investors.

During the conference, President Arroyo and her economic managers urged investors to commit capital to the Philippines. According to President Arroyo and her economic managers, the Philippines offers investors the “best value for foreign investments” in the region.

The PSE team also met with Filipino community leaders at the Residence Lounge of the Grand Hyatt Hotel to educate them about investing in the Philippine stock market. The PSE investment seminar was attended by close to 200 Hong Kong-based Filipino community leaders.

The participants, who were mostly Filipino professionals, expressed enthusiasm and eagerness to learn more about stock trading and vowed to invest a portion of their savings in the local bourse soon. The attendees also included some victims of pyramiding scams who are now looking for legitimate investment tools that offer yields higher than bank-related investment products.

The seminar for HK-based Filipinos is part of PSE’s campaign to educate overseas Filipinos about the stock market and attract investments from them. The PSE conducted similar roadshows in the US, Spain, United Kingdom, and Italy last year, and in the United Arab Emirates last January.

“Last year, overseas Filipinos remitted approximately $15 billion, representing roughly 10 percent of the country’s gross domestic product,” Mr. Lim noted. “If overseas Filipinos entrust a portion of that amount in our stock market, they could help develop our market.”

The PSE contingent to Hong Kong was composed of PSE senior specialist Jay Penaflor, who talked about the basics of investing in the stock market; First Metro Securities FVP and COO Gonzalo Ordoñez, who delivered a lecture on On-line Trading and Mutual Fund Investing; and I-Remit chairman and CEO Bansan Choa who talked about Money Remittance. PSE vice president Enrico Trinidad was also present during the Hong Kong seminar.

The PSE Hong Kong Roadshow was organized by the PSE in cooperation with First Metro Securities Brokerage Corp. and I-Remit Inc., a listed company.

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