With the main index of the Philippine Stock Exchange breaking record highs 21 times in seven months this year, an official of the PSE says now is the best time to invest in the Philippines.

Leonardo Quinitio, who heads the PSE’s capital markets development division, also said at least three Cebu companies “are very interested” in listing with the PSE.

He declined to identify these companies until they have finalized their plans, but revealed that these belong to the power and water sectors.

Quinitio was a speaker at the recent “Eye On Cebu” investment and economic summit organized by the PSE and Bloomberg.

The PSE hopes to see more local companies enlist, saying four Cebuano companies that were already listed were doing well.

The PSE recently met with officials of the Cebu Chamber of Commerce and Industry to identify local companies that are eligible for listing.

Before they can become publicly-listed, the three Cebu companies will have to meet the new PSE rules.

The PSE is currently reviewing its rules to ensure the listed companies are profitable and have proven track records.

The rules are yet to be finalized and are expected to be done n a week or two.

The review, Quinitio said, was made to protect the interest of investors.

It is meant to weed out “substandard companies” that will end up losing money.*PNA

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