MANILA -Davao-based tycoon Dennis A. Uy’s fuel retailer Phoenix Petroleum Philippines Inc. and businessman Ramon Garcia Jr.’s DFNN Inc. were among six companies suspended today from trading by the Philippine Stock Exchange (PSE) for failing to submit their 2022 annual report by the extended deadline.
The PSE also suspended the trading TKC Metals Corp., Manila Jockey Club Inc., MJC Investments Corp., and IPM Holdings Inc.
Annual reports are critical documents that help guide the decisions of the investing public.
The PSE said the non-submission of the annual report violates the listing and disclosure rules of the exchange.
The bourse warned these companies last week they would be suspended on May 18 if they still failed to comply. The deadline was previously extended to May 2 this year.