By Mediatrix P. Cristobal
The Philippine Stock Exchange (PSE) on Friday said it deferred its participation in the Association of Southeast Asian Nations (ASEAN) Link due for launch next year.
“The PSE has decided to temporarily postpone its original plan to be included in the ASEAN Link, whilst it undertakes efforts to generate further interest and support for the project from its local brokers and the investing public,” the PSE said in a statement.
The ASEAN Link is a regional platform that aims to attract foreign investors and increase cross border trading participated by Bursa Malaysia, The Philippine Stock Exchange Inc., Singapore Exchange and Stock Exchange of Thailand.
“The PSE looks forward to rejoining the ASEAN Link at a future date,” it said.
The ASEAN Link is slated for launch in 2012.
“In the meantime, (PSE) will continue to keep abreast of the initiatives of the ASEAN Exchanges towards promoting and strengthening the ASEAN capital market,” it said.