PSE suspends trading in 7 listed issues for reportorial violations

The Philippine Stock Exchange (PSE) suspended yesterday trading of shares in seven listed companies for their continued non-compliance with the bourse’s reportorial requirements and non-payment of fines.

In a notice to member-brokers, the PSE said the suspension will remain in effect until the erring parties have submitted the required annual reports and settled the assessed fines.

The companies whose shares were suspended from the trading floor are Wise Holdings Inc., Uniwide Holdings Inc., Unioil Resources & Holdings Co. Inc., Mondragon International Philippines Inc., Forum Pacific Inc., Fil-Estate Corp. and Cyber Bay Corp.

Cyber Bay, however, has earlier applied for voluntary suspension in view of the decision of the Supreme Court nullifying the PEA-Amari contract. The company is engaged primarily in the development of reclaimed land in the prime Manila Bay area into a modern financial and commercial district.

Three other companies – Zipporah Realty & Holdings Inc., Solid Group Inc. and DMCI Holdings Inc. – evaded suspension after they complied with the required submission of financial reports.