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Vistamalls, Vista Land, and Golden MV Holdings have since requested the Philippine Stock Exchange for an extension to file their latest annual financial reports
MANILA, Philippines – The Philippine Stock Exchange (PSE) suspended on Friday, May 16, the trading of shares of nine companies, including three Manny Villar-owned companies, due to the late filing of their financial reports for the year 2024.
The PSE suspended the trading of shares of Vistamalls Incorporated (STR), Vista Land & Lifescapes Incorporated (VLL, VLL2A, VLL2B), and Golden MV Holdings (HVN) for failing to submit their 2024 annual report within the deadline.
“In this connection, please be informed that, as of the posting of this notice, the Company has not yet filed its Annual Report (SEC Form 17-A) for the year ended December 31, 2024. Given the foregoing, the trading of the Company’s shares shall be suspended effective today, May 16, 2025,” the PSE said in its separate notices of suspension for the three companies.
Villar, a former senator and chairman of the Nacionalista Party, is the Philippines’ richest person based on the latest Forbes Magazine list of the world’s billionaires.
In a notice issued on Tuesday, May 13, the local bourse warned companies that trading of their shares will be suspended if they fail to comply with its reportorial requirements by Thursday, May 15.
Vista Land’s real estate investment trust (REIT) vehicle was initially included in the list, but the PSE said in a disclosure that the company has since submitted its annual report.
Golden MV submitted its request for an extension of their first quarter report deadline on Thursday, May 15. Meanwhile, Vistamalls and Vista Land submitted their extension requests on Friday morning, May 16.
According to Golden MV Holdings’ request, the company needed more time to finalize its first quarter report since it was still finalizing its audited 2024 financial statements.
“The request is due to the extended finalization of the Full Year Audited Financial Statements for the year ending December 31, 2024 which impacts the finalization of the First Quarter Financials specifically the Statement of Financial Position’s beginning balances,” Golden MV wrote.
Vistamalls and Vista Land also cited the same reasons in their requests.
Aside from the three Villar firms, six other companies were also penalized with a trading suspension beginning Friday, May 16, namely:
- AgriNurture Incorporated (ANI)
- Waterfront Philippines Incorporated (WPI)
- TKC Metals Corporation (T)
- Premiere Horizon Alliance Corporation (PHA)
- MerryMart Consumer Corporation (MM)
- I-Remit Incorporated (I)
PSE rules state that companies must file their annual financial reports 105 days after the end of their fiscal year. – Rappler.com
