By no later than 2010, East Asia, including Japan, might account for more than one-third of world trade and thus become the world’s most important trading area, ahead of the European Union.
The implementation of the Philippine Financial Reporting Standards (PFRS) and the Philippine Accounting Standards (PAS) is expected to improve the quality of financial information to be disclosed to market participants. In relation to this, we have issued the new financial reporting package (FRP), in accordance with the provisions of PFRS/PAS.