With no new candidates, PSE board likely to get re-elected

After no new names were put forward for consideration, the current board of the Philippine Stock Exchange will likely get re-elected at the bourse's upcoming stockholders' meeting. The current board consists of Jose T. Pardo (Director - Chairman), Hans B. Sicat (Director - President - CEO), Emmanuel O. Bautista (Director), Anabelle L. Chua (Director), David O. Chua (Director), Francis Chua (Director), Dakila B. Fonacier (Director), Eddie T. Gobing (Director), Amor C. Iliscupidez (Director), Edgardo G. Lacson (Director), Cornelio T. Peralta (Director), Eusebio H. Tanco (Director), Robert G. Vergara (Director), Alejandro T. Yu (Director) and Ma. Vivian Yuchengco (Director). Seven are brokers and eight non-brokers, in accordance with the PSE election rules approved by the Securities and Exchange Commission, which stipulate that the board shall be composed of eight non-broker directors including the president, at least three independent directors, and at least one director each to represent the interest of issuers, investors, and market participants. In 2012, the bourse's net income rose 53.7 percent to P624.17 million from P406.19 million in 2011. It plans to double its revenues and net income this year. — BM, GMA News