San Miguel, Filinvest threatened with penalties for disclosure breach

The bourse has ordered Cojuangco-led San Miguel Corp. to explain why it should not be punished for failing to promptly disclose transactions with SEA Refinery Holdings, B.V. and Lopez-led Manila Electric Co. (Meralco).

Meanwhile, Gotianun-led Filinvest Development Corp. was also directed to explain after the holding firm failed to immediately disclose information related to banking unit East West Banking Corp.’s acquisition of American International Group, Inc.’s (AIG) units.

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