PSe suspends trading in 11 delinquent firms

The Philippine Stock Exchange (PSE) has suspended trading in 11 companies starting June 1 for failing to submit reportorial requirements.

In particular, the companies failed to submit their annual reports (SEC form 17-A) for the year ended Dec. 31, 2021 and quarterly reports (SEC Form 17-Q) for the period ended March 31, 2022, on or before the deadline of May 16.

These companies are 8990 Holdings, AbaCore Holdings, Araneta Properties, Basic Energy Corp., Century Peak Holdings, DITO CME Holdings Corp., Leisure & Resorts World, Medilines Distributors Corp., Philippine Business Bank, TK Metals Corp. and Vantage Equities.

These companies have not submitted the required reports as of this writing.

Pursuant to Article VII, Section 17.8 on Sanctions for Non-Compliance with Certain Structured Reportorial Requirements under the Rules, the abovementioned companies’ failure to comply with the requirements of the PSE within the prescribed period will result in the automatic suspension of the trading of their respective shares starting on June 1.

On May 19, the PSE posted a longer list of companies penalized for not submitting the reportorial requirements.

That list included 8990, AbaCore, Abra Mining, ABSCBN Holdings, Apollo Global, Araneta Properties, Basic Energy Corp., Bogo-Medellin, Century Peak, Citicore Energy REIT Inc., DDMP REIT Inc., DFNN Inc., DITO CME, DoubleDragon Corp., Fruitas Holdings, Filsyn Corp., Globalport, Harbor Star Shipping, IP EGame Ventures, IMP Holdings, Leisure & Resorts World Corp., Makati Finance Corp., Makati Broadcasting Co., Manila Jockey Club Inc., Medilines Distributors Inc., MJC Investments Corp., Philab Holdings Corp., Philippine Business Bank, Philippine National Construction Corp., PICOP Resources Inc., Premier Horizon Alliance Corp., Roxas and Company Inc., Sta. Lucia Land, Steniel Manufacturing Corp., TKC Metals Corp., Unioil Resources & Holdings Company Inc., Vantage Equities Inc. and Vistamalls Inc.