Busi­ness

Manila Times - - Busi­ness Times - Philip­pines,Sin­ga­pore,Thai­land, andViet­nam. es­d­[email protected]­com

mon shares, or 1.19 per­cent.

stock­hold­ers and the PSPC com­mon shares held by 11 di­rec­tors,

PSPC com­mon shares, or 23.12

per­cent. Again, be­ing pub­lic stock­hold­ers, Pilip­inas Shell does not

Due Dili­gencer’s take

As in the past, I still ad­vo­cate the rep­re­sen­ta­tion of the pub­lic stock­hold­ers to the board of listed but not nec­es­sar­ily pub­lic com­pa­nies. As in pre­vi­ous col­umns, I re­main stead­fast in my be­lief that the

30, 2018 based on cen­tral bank data.

BSP Deputy Gover­nor Diwa Guini­gundo last week said that the five lo­cal banks’ ex­po­sure to Han­jin, rel­a­tive to both to­tal loans and to­tal for­eign cur­rency de­posit unit ( FCDU) loans of the bank­ing sys­tem, was “very neg­li­gi­ble.”

The cen­tral bank late on Fri­day said that the Han­jin loans rep- pub­lic stock­hold­ers should elect among them­selves who could ably rep­re­sent their in­ter­est in the board, which acts as a com­pany’s pol­icy-mak­ing body.

As more pop­u­larly known even to cor­po­rate in­sid­ers, the pub­lic stock­hold­ers may even be as rich if not richer than the own­ers of the busi­ness.

There are also mar­ket play­ers who in­vest in other com­pa­nies

per­cent of FCDU loans

“With its ro­bust cap­i­tal­iza­tion, the Philip­pine bank­ing sys­tem is well-po­si­tioned to man­age about

to Han­jin...,” the BSP said in a state­ment.

It also said that the lo­cal bank­ing in­dus­try was well-cap­i­tal­ized with a cap­i­tal ad­e­quacy ra­tio of 15.35 per­cent as of June 2018, well above the in­ter­na­tional stan­dard of 8.0 per­cent and the Philip­pines’ 10.0 per­cent.

that they do not ei­ther own or con­trol. This would make them both busi­ness own­ers and mar­ket in­vestors.

Go­ing back to the pub­lic, again, I will sup­port any move of pub­lic in­vestors to have his or her voice rec­og­nized by busi­ness own­ers. This, how­ever, de­pends on the kind of de­mands, which would mean any of them should have some­thing to do with listed stocks.

To­tal as­sets of the bank­ing sys­tem con­tin­ued to grow by 11.0 per­cent year-on-year while non- per­form­ing loans ( NPLs) re­mained low at 1.83 per­cent of its to­tal loans as of Oc­to­ber 2018, the BSP con­tin­ued

Loan loss re­serves were equiv­a­lent to 109.9 per­cent of NPLs dur­ing the same pe­riod.

lo­cal banks’ abil­ity to han­dle ne­go­ti­a­tions on this cor­po­rate re­struc­tur­ing while re­main­ing com­pli­ant As pub­lic in­vestors, are you satis-

rule im­ple­mented by the Se­cu­ri­ties and Ex­change Com­mis­sion (SEC)? Should the SEC be more ac­tive in polic­ing listed com­pa­nies which should be re­quired to list their en­tire out­stand­ing com­mon shares and not only a por­tion of them? Just ask­ing. with pru­den­tial reg­u­la­tions,” the cen­tral bank stressed.

News of Han­jin’s in­sol­vency bat­tered share prices of the af­fected banks on Fri­day, with RCBC drop- and BDO fell to as low as P127.80 dur­ing in­tra­day trad­ing but ended

Land­bank is not listed.

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