Tuesday, 4 December 2012

Philippine gives foreign banks 3 years to meet IPO rule

根据年报MBB有99.97%Maybank Philippines 股权。

MANILA: The Philippines will give foreign banks in the country three years to list at least 10% of their companies on the local bourse, after the central bank clarified when banks must do so from regulations that were not enforced earlier.

The listing requirement was contained in a 1994 law liberalising the entry and scope of operations of foreign banks in the Philippines, but it was not implemented because it did not clearly specify when the banks were supposed to comply.

The central bank in a Nov 28 circular posted on its website defined “reasonable period of time” as three years.

Under the law, foreign banks can operate in the country by acquiring up to 60% of an existing bank, investing in up to 60% of a new banking unit, or by establishing branches with full banking authority.

Only foreign banks that entered the Philippines via the first two modes are required to make their companies public.

Less than five banks operating in the country now fell under those categories, including Maybank Philippines and Chinatrust, said Judith Sungsai, director for Central Point of Contact Department at the Bangko Sentral ng Pilipinas.

Maybank Philippines said it was not ready to comment as it was seeking guidance from its parent, Malayan Banking Bhd, said the bank's corporate affairs head, Eric Montelibano.

Chinatrust, a unit of Taiwan's largest bank Chinatrust Commercial Bank, could not immediately comment. - Reuters


CK Tan said...



SingBlueSilver Ninenine said...


CK Tan said...

一起加油 :)