ADVERTISEMENT
Manila Bulletin devider Business devider Recto expresses gratitude to PSE for support at unprecedented gathering

Recto expresses gratitude to PSE for support at unprecedented gathering

Published Feb 22, 2024 11:48 pm

Finance Secretary Ralph G. Recto expressed his gratitude to the Philippine Stock Exchange (PSE) for its support and trust in his appointment. 

At a recent event hosted by the PSE to celebrate the new finance chief's appointment, Recto shared that this support “means a lot” for him as he takes on one of the most challenging roles in government. 

Beginning his speech with thanks, Recto stated, "Before anything else, I would like to thank the Philippine Stock Exchange for its support and vote of confidence for my appointment as Secretary of Finance.”

The unprecedented reception hosted by the PSE for the sitting Department of Finance (DOF) chief is a notable event, but might not be unexpected given PSE Chief Operating Officer Roel A. Refran's past position as Recto's chief of staff.

Furthermore, the event was not only in honor of Recto but also served as a recognition of Special Assistant to the President for Investment and Economic Affairs Secretary Frederick D. Go, who previously served as the president and chief executive officer of publicly-listed Robinsons Land Corp.

During the event held last Feb. 21 at the bourse's headquarters, Recto commended the PSE for its proactive approach to capital-raising activities, exemplified by its initiatives to double the number of initial public offerings this year.

Furthermore, Recto noted that the PSE has effectively encouraged 10 small companies to join the stock market.

“With the help of the PSE, I look forward to building the Philippine capital market into a platform where more small companies and wage earners become shareholders,” Recto said.

“That will be a measure of how much we have dispersed our economic activities and how inclusive our growth has been,” he added.

Meanwhile, Recto affirmed the PSE of the DOF's commitment to enacting capital market reforms that strengthen investor protection, enhance corporate governance, prioritize shareholder interests, and promote broader investor participation.

“We will ensure a swift and efficient approval process at the Securities and Exchange Commission on public listings to further encourage the growth of enterprises,” Recto said.

“We are simplifying the tax structure on passive income, financial products, and its transactions to promote more attractive and dependable investment products,” he further stated.

In mid-January, when Recto's appointment was announced, the PSE promptly voiced its backing for the DOF chief.

The PSE noted Recto's track record in public service, strong work ethic, vast experience, and dedication to improving the well-being of Filipinos.

Furthermore, the PSE cited Recto's familiarity with the intricacies of the capital market.

“He is the legislator behind RA (Republic Act) 9243 or the act rationalizing the provisions on the Documentary Stamp Tax of documentary stamp tax exemption for stock transactions through the local stock exchange,” it said.

“We extend our full support and best wishes to Secretary Recto on his new role and look forward to working with him in introducing reforms to further develop the Philippine capital market,” the PSE added.

Related Tags

Department of Finance (DOF) Philippine Stock Exchange (PSE) Frederick D. Go ralph recto Finance Secretary
ADVERTISEMENT
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1562_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ item.title }}

{{ articles_filter_1564_widget.title }}

{{ item.title }}
.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function initializeAllSwipers() { // Get all hidden inputs with cms_article_id document.querySelectorAll('[id^="cms_article_id_"]').forEach(function (input) { const cmsArticleId = input.value; const articleSelector = '#article-' + cmsArticleId + ' .body_images'; const swiperElement = document.querySelector(articleSelector); if (swiperElement && !swiperElement.classList.contains('swiper-initialized')) { new Swiper(articleSelector, { loop: true, pagination: false, navigation: { nextEl: '#article-' + cmsArticleId + ' .swiper-button-next', prevEl: '#article-' + cmsArticleId + ' .swiper-button-prev', }, }); } }); } setTimeout(initializeAllSwipers, 3000); const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); let article = entry.target; // Extract metadata const author = article.querySelector('.author-section').textContent.replace('By', '').trim(); const section = article.querySelector('.section-info ').textContent.replace(' ', ' '); const title = article.querySelector('.article-title h1').textContent; // Parse URL for Chartbeat path format const parsedUrl = new URL(newUrl, window.location.origin); const cleanUrl = parsedUrl.host + parsedUrl.pathname; // Update Chartbeat configuration if (typeof window._sf_async_config !== 'undefined') { window._sf_async_config.path = cleanUrl; window._sf_async_config.sections = section; window._sf_async_config.authors = author; } // Track virtual page view with Chartbeat if (typeof pSUPERFLY !== 'undefined' && typeof pSUPERFLY.virtualPage === 'function') { try { pSUPERFLY.virtualPage({ path: cleanUrl, title: title, sections: section, authors: author }); } catch (error) { console.error('ping error', error); } } // Optional: Update document title if (title && title !== document.title) { document.title = title; } } } }); }, { threshold: 0.1 } ); function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // Offset values const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } const sentinel = document.getElementById("load-more-sentinel"); if (!sentinel) { console.log("Sentinel element not found."); return; } function isSentinelVisible() { const rect = sentinel.getBoundingClientRect(); return ( rect.top < window.innerHeight && rect.bottom >= 0 ); } function onScroll() { if (isLoading) return; if (isSentinelVisible()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { let article = document.querySelector('#widget_1690 > div:nth-last-of-type(2) article'); intersectionObserver.observe(article) loadCount++; }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; }); } } window.addEventListener("scroll", onScroll); });
Join Our Newsletters

Sign up by email to receive news.

© 2025 Manila Bulletin The Nation's Leading Newspaper. All Rights Reserved.