Local investors form advocacy group

MANILA, Philippines - A group of local investors has formed an advocacy group to push for and protect the rights of minority shareholders.

The new group, the Shareholders’ Association of the Philippines (SharePHIL), said it wants to guide investors on their rights and obligations.

“The group believes that an informed investing public can help accelerate the development of the capital markets by attracting more investments and increasing participation in the stock market,” SharePHIL said.

Former Management Association of the Philippines president Evelyn Singson will chair the group while Jose Ma. Lim of Metro Pacific Investments Corp. and Rex Drilon II of the Institute of Corporate Directors will be the treasurer and secretary, respectively. The advocacy group will be officially launched on June 27, 2012.

“Minority shareholders in any corporation, public or private, and small stock market investors usually do not know what their rights are and often do not even know what questions to ask in stockholders’ meetings,” SharePHIL said.

For its part, SharePHIL will share information on fairness transparency and good governance.

Informed minority shareholders will also minimize corporate disputes and increase the trust on management.

Singson said SharePHIL aims to develop a healthy relationship between investors and management.

“What we are providing is an avenue where we will try to empower the investor by educating the stockholders on his rights and responsibilities because if he is aware of what his rights are, he can participate more actively or demand more attention in terms of company management,” Singson said.