菲律賓PPP中心和證券交易所簽署PPP項目指導方針備忘錄
政府采購信息報/網(wǎng)2017年2月21日消息 菲律賓政府和社會資本合作中心（PPPC） 最近與菲律賓證券交易所（PSE）簽署了一項協(xié)議備忘錄（MOA），以加強雙方合作 和信息交流，推進實施正在進行的PPP名單申請工作。該備忘錄規(guī)劃了PPP中心和證 券交易機構(gòu)的合作和協(xié)調(diào)框架，以及PPP公司在股票市場進行交易的實施細則，這 被認為是為PPP項目開發(fā)進行融資的一個替代資源和途徑。
PPP指導方針條款
被PPP公司稱為“可行性附加條款和公開條例”的這個新文件，是菲律賓股票交易 所根據(jù)與費爾迪南德·A·派克森主任領(lǐng)導下的PPP中心達成的協(xié)議基礎(chǔ)上出臺的。 派克森主任在簽字儀式上敲響了鐘聲，宣布PPP股票向投資者發(fā)行開始。
根據(jù)這個新出臺的“附加條款和公開條例”，被授予了PPP項目合同的PPP公司或者 擁有PPP合同的公司或聯(lián)合體組成的特定項目公司（SPC）可以申請加入名單。這些 公司可以從證券交易所最低三年的行業(yè)紀錄和證券交易歷史的規(guī)定之外，獲得豁免 ，加入證券交易主板，但是獲得授予PPP合同的最低項目金額至少為50億菲律賓比 索。公司只能在完成了建設(shè)工程或者項目的一個階段后，才能申請加入名單。公司 列入名單時限是無限的，貫穿項目特許期，但合同期限最少要有15年。
預計PPP項目的融資需求
PPP中心主任派克森解釋說，因為PPP項目繼續(xù)展開，基礎(chǔ)設(shè)施項目的規(guī)模和復雜性 持續(xù)增長，預計地方銀行部門將完全不能吸納和支持如此龐大的PPP項目資金需求 。2015年，PPP中心開始與證券交易所和證券交易委員會（SEC）合作，著手推出幾 項動議，引入菲律賓資本市場協(xié)助PPP項目。
"通過股市和保險債券列表的形式，引入資本市場，是最近為解決PPP項目融資問題 而著重推出的融資措施之一，"派克森主任說。
"今后幾年，我們期待推出大量的基礎(chǔ)設(shè)施工程項目，我們確實希望各地銀行向更 多PPP參與方和玩家擴展信貸服務，同樣的，我們也需要更多的大型跨國企業(yè)聯(lián)合 體，包括外國銀行和資本市場投資我們的大型PPP項目。"他又說。
在這個部分，證券交易所主席喬斯·T·帕多表達了形成一個新的PPP公司（證券交易）名單的信心。
“眾所周知，其他領(lǐng)域開始利用這一機制進行融資已經(jīng)有些時日了。雖然我們剛剛開始迎頭追趕，但時間對我們很有利，政府對PPP項目的立場很明確，她致力于加速基礎(chǔ)設(shè)施投資力度。目前已經(jīng)有幾個PPP項目進入實施程序，我們希望看到PPP公司進入股票市場，來實行他們的融資行動，”證券交易所主席說。
解答PPP名單規(guī)則
在獨立的PPP名單規(guī)則簡介會上，PPP中心副執(zhí)行主任（DED）伊利亞薩·E·李克特、證券交易所首席運營官（COO）洛爾·李福蘭，以及市場和證券管理部的證券交易主任文森特·格拉西亞諾·菲力茨門紐主持了小組討論，并分享了資源。來自銀行業(yè)、建筑業(yè)和其他PPP參與方的代表參加了簡介會。
作為開場白，李克特副主任表達了對PPP進入證券市場名單的共同期待。
“這是我們的共同期望，希望這一框架能鼓勵合適的PPP公司開啟金融市場，擴展他們的投資人基礎(chǔ)，允許更多的人民將他們的資源投向成功操作并維持運營的PPP項目，”他分享說。
同時，在閉幕演說中，證券交易所總裁漢斯·西卡特對即將開始的PPP名單申請工作表示樂觀。
“我們同意協(xié)助為申請PPP名單項目的公司提供便利，我們希望這一動議能進一步幫助PPP公司看到位列證券交易所主辦的前景，”他說。
原文鏈接：http://ppp.gov.ph/?press_releases=ppp-center-philippine-stock-exchange- sign-moa-on-guidelines-for-ppp-listings-2
圖片：菲律賓PPP中心和菲律賓證券交易所就簽署PPP項目備忘錄舉行小組討論
附原文：
PPP Center, Philippine Stock Exchange sign MOA on Guidelines for PPP Listings
February 21, 2017
PPP Center, PSE sign MOA on PPP Listings panel discussion
The Public-Private Partnership Center together with the Philippine Stock Exchange (PSE) recently signed a Memorandum of Agreement (MOA) to reinforce its collaboration for information sharing to implement the processing of listing applications. The MOA outlines the framework for cooperation and coordination between the PPP Center and the PSE in implementing the listing rules for PPP companies where the equities market is considered as an alternative source of funding in the development of PPP projects.
PPP Listing Guidelines
Dubbed as the Supplemental Listing and Disclosure Rules Applicable to a PPP Company, this new PSE product was launched on the trading floor with PPP Center led by its Executive Director Ferdinand A. Pecson, who rang the bell, signaling the opening of the PPP securities to investors.
With the supplemental listing and disclosure rules in place, a PPP company may apply for listing under the guidelines if it is a corporation with a PPP contract awarded or a Special Purpose Company (SPC) incorporated by the corporation or consortium holding a PPP contract. These companies are exempted from the minimum 3-year track record and operating history required by the PSE to list in its main board. The awarded PPP contracts should have at least a project cost worth Php5 billion. The company can only apply for listing when it has completed its construction works or a phase in the project. The life of the listed company is considered co-terminus with the project concession period, but with a minimum contract of 15 years.
Anticipating the financing demand for PPPs
PPP Center chief Pecson explained that the as the PPP program continues to rollout infrastructure projects of increasing scale and complexity, it is anticipated that the local banking sector will be entirely unable to absorb or support the demand for funding of PPP projects. In 2015, the PPP Center together with the PSE and the Securities and Exchange Commission (SEC) embarked on several initiatives that assessed the Philippine capital market for PPPs.
“Accessing the capital markets through the listing of equities and issuance of bonds are some of the financing options currently being explored to address this funding issue,” Executive Director Pecson said.
“We expect a large number of infrastructure projects to be rolled out in the next few years. We actually see local banks spreading their lending services more widely among PPP parties/players. There is also an increased likelihood of conglomerates tapping into foreign banks and the capital market to fund large-scale PPP projects,” he added.
For his part, PSE Chairman Jose T. Pardo conveyed his confidence in the new listing product for PPPs.
“As you know, other territories have had this fund raising mechanism for some time. While we are only catching up, the timing is also ideal given government’s stance on PPP projects, as it committed to accelerate infrastructure spending. And with several PPP projects in the pipeline, we hope to see PPP companies tap the stock market for their capital raising exercise,” the PSE chair said.
PPP Listings rules explained
In a separate briefing on the PPP listing rules, a panel discussion was conducted with PPP Center Deputy Executive Director (DED) Eleazar E. Ricote, PSE Chief Operating Officer (COO) Roel Refran, and Securities and Exchange Director Vicente Graciano Felizmenio, Jr., of the Markets and Securities Regulation Department as resource persons. Members from the banking industry, construction and other PPP players were present during the briefing.
For his opening remarks, DED Ricote shared his expectations of the PPP listing.
“It is our hope that this framework will encourage eligible PPP companies to tap the financial markets, and broaden the investor base, allowing more people to pool their resources towards the successful operations and maintenance of PPP projects,” he sshared.
Meanwhile, in his closing remarks, PSE president Hans Sicat Hans expressed his optimism for the upcoming PPP listing applications.
“We agreed to help facilitate the process of listing applications under the PPP listing program. We hope that this initiative will further help PPP companies in terms of their view on listing on the PSE,” he said.
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