On February 3, the Philippine Stock Exchange (PSE) came to Hong Kong to consult ACGA members on the rules for its proposed special corporate governance listing segment, the Maharlika Board.

We organised two conference calls, one in the morning with our North American members, one in the evening with our Asian and European members, and a meeting at the J W Marriott with our Hong Kong members in the morning.

The PSE, represented by Francis Lim, President and CEO; J J Moreno, Vice President and Head, Corporate Governance Office; and Roel Refran, Vice President-General Counsel and Head, Issuer Regulation Division, gave a short presentation, which looked at:

• CG in the Philippines;
• PSE Corporate Governance Improvement Program (CGIP);
• Maharlika Board Project;
• Inspiration: Novo Mercado;
• Development process;
• Comments from stakeholders;
• Next steps;
• Features.

This was followed by a Q & A period where they solicited the members' views on the proposed rules. It was the second consultation the PSE has had with ACGA members on the Maharlika Board, the first being in April 2009.