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Mr. Ahmed Aweidah, Chief Executive Officer of Palestine Securities Exchange (PSE) announced that thirty six (36) listed companies on the PSE out of thirty nine (39) have disclosed their preliminary financial results for 2009, including one (1) suspended company out of four (4).
Aweidah declared that disclosure has reached 100% excluding the suspended companies, which demonstrates the commitment of all the listed companies traded at the PSE to disclose within the legal period that ends by 15 February 2010.
Aweidah confirmed that this 100% commitment is an indicator of the progress in disclosure which sets Palestine Securities Exchange in an advanced position among regional markets. He also added that this commitment comes from the coordinated efforts of PSE and the Palestinian Capital Market Authority (PCMA) in enhancing disclosure procedures. Aweidah believes that disclosure is an important component of a fair and transparent trading environment.
The preliminary results of 2009 indicated that twenty five (25) companies had improved their financial performance compared to 2008 by either increasing their annual profit or minimizing their losses.
