The Philippine Stock Exchange Inc. said Thursday its board approved the appointment of Sycip Gorres Velayo & Co. as external auditor of the operator of the country’s stock market for this year.
The PSE board also approved SGV’s engagement fee of P1.03 million, exclusive of value-added tax plus out-of-pocket expenses not exceeding 10 percent of the fee.
Shareholders of the company will have approve the engagement during their annual meeting scheduled on July 6.
The PSE has two wholly-owned subsidiaries, the Securities Clearing Corp. of the Philippines and the Capital Markets Integrity Corp. It also owns 20.98 percent of the Philippine Dealing System Holdings Corp., the company that controls the fixed income exchange operator, and 80 percent of Premier Software Enterprise, Inc.
PLDT Beneficial Trust Fund, SMC Retirement Fund, Government Service Insurance System, Kim Eng Investment Ltd., and KE Strategic Pte. Ltd. are the main investors of PSE.
