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MANILA – Twenty-seven listed firms at end-June have yet to comply with the minimum public float requirement of the local bourse, according to Philippine Stock Exchange data.
The figure was based on public ownership reports submitted by listed companies to comply with the Amended Rule on Minimum Public Ownership of the Exchange requiring firms to disclose their public float levels within 15 calendar days after the end of each quarter.
"As such, the PSE makes no representation on the accuracy, validity, correctness and completeness of the information stated in the attached document," said Roel Refran, PSE chief operating officer.
"The PSE shall use the information contained in the POR submitted by the company in computing a company's weight in the index and this may be updated or adjusted consistent with the policy of the Exchange in managing the PSEi and sector indices," Refran added.
The 27 erring firms do not include Export and Industry Bank Inc., Nextstage Inc. and Philcomsat Holdings Corp., all of which have yet to submit their public ownership reports.
Non-compliant companies have until January 1, 2013 to comply with the requirement.
A six-month suspension awaits companies that fail to meet the PSE rule. Failure to address the matter during the six-month suspension period would merit delisting.
At present, gains derived from publicly held stocks are levied 1.5 percent, while gains derived from stocks not traded at the Exchange are slapped with a 5 to 10 percent capital gains tax.
The non-compliant firms and their public floats at end-June are the following:
FINANCIALS
- Allied Banking Corp. - 1.51 percent
- First Metro Investment Corp. - 1.94 percent
- Maybank ATR KimEng Financial Corp. - 0.89 percent
INDUSTRIAL
- SPC Power Corp. - 4.53 percent
- Vivant Corp. - 4.18 percent
FOOD, BEVERAGE AND TOBACCO
- Alaska Milk Corp. - 2.28 percent
- Cosmos Bottling Corp. - 1.79 percent
- San Miguel Pure Foods Co. Inc. - 0.08 percent
- San Miguel Brewery Inc. - 0.61 percent
CONSTRUCTION, INFRASTRUCTURE AND ALLIED SERVICES
- Lafarge Republic Inc. - 3.67 percent
- Mariwasa Siam Holdings Inc. - 9.54 percent
CHEMICALS
- Manchester International Holdings Unlimited - 6.79 percent
ELECTRICAL COMPONENTS AND EQUIPMENT
- Integrated Micro-Electronics Inc. - 9.72 percent
OTHER INDUSTRIALS
- Alphaland Corp. - 8.03 percent
HOLDING FIRMS
- Filinvest Development Corp. - 3.38 percent
- F&J Prince Holdings Corp. "B" - 6.26 percent
- Synergy Grid & Development Corp. - 7.44 percent
PROPERTY
- Eton Properties Philippines Inc. - 5.65 percent
- Sta. Lucia Land Inc. - 9.95 percent
- San Miguel Properties Inc. - 0.06 percent
TRANSPORTATION SERVICES
- 2Go Group Inc. - 2.03 percent
- PAL Holdings Inc. - 2.30 percent
- Metro Pacific Tollways Corp. - 0.15 percent
OTHER SERVICES
- JTH Davies Holdings Inc. - 8.78 percent
- Globalport 900 Inc. - 0.12 percent
MINING AND OIL
- Atok-Big Wedge Co. Inc. - 4.16 percent
- PNOC Exploration Corp. - 0.21 percent
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