MikeLigalig.com

Foreign portfolio investments posted net inflows of US$ 494 million in September, reflecting a substantial increase from the net inflows of US$ 225 million in August 2010, and US$ 47 million a year ago.

Registered investments amounted to US$ 1.4 billion while outflows reached US$ 929 million during the month.

Registration of inward foreign investments with the Bangko Sentral ng Pilipinas (BSP) is voluntary. It entitles the investor or his representative to buy foreign exchange from authorized agent banks or their subsidiary/affiliate foreign exchange corporations for repatriation of capital and remittance of related earnings.

Net inflows reached US$ 1.4 billion in the past first nine months of the year, more than six times the US$ 229 million net inflow for the comparable period in 2009.

Registered investments aggregated US$ 7.2 billion, up by 53 percent compared to last year’s US$ 4.7 billion. Investments in Philippine Stock Exchange -listed shares of US$ 5.3 billion grew by 44 percent compared to last year’s US$ 3.7 billion level.

Major beneficiaries consisted of banks (23 percent), property companies (21 percent), holding firms and telecommunication companies (18 percent each), and utility( firms (11 percent).

The United States, the United Kingdom, Singapore, Luxembourg and Hong Kong comprised the top five investor countries, contributing 80 percent to total registered investments.

Outflows from January to September 2010 reached US$ 5.8 billion compared to US$ 4.5 billion in 2009 and were mostly withdrawals from interim peso deposits (IPDs). Sales proceeds of BSP-registered investments, including earnings thereon, may be placed in IPDs pending subsequent reinvestment or repatriation/remittance.(PNA)

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=33202.0