“The sell-off reacts to investors fleeing from risks on its corporate governance, which is the main issue. If the allegations hold true, its reversion will be up to [PLDT] management’s initiatives to address the issue,” Gabryle Aguila, head of equity research at stock brokerage house Unicapital Securities Inc., told the Inquirer on Monday.
Pangilinan also said a number of top executives have been suspended while the investigation was underway with the help of a third-party auditor not associated with PLDT’s external auditor, SGV & Co. PLDT was the most actively traded stock on Monday with volume reaching almost P1.5 billion, including net foreign selling of about P700 million.
Gokongwei-led JG Summit Holdings, one of PLDT’s biggest stockholders with an 11.23 percent stake, fell 3.16 percent to P47.45. State-run pension fund Social Security System also owns 4.45 percent of PLDT, the company’s latest regulatory filings showed.PLDT said the budget overruns will reflect in its financial statements in 2022 and 2023, which will be offset by gains from the sale of cell tower assets to a third-party operator.
PLDT-Smart is imploding. It is time for a change of guards.
nakakalungkot isipin pandemya na nga tumaga pa PLDT, hindi lumalaban ng patas. sign na ata to na pabagsak na mga makalumang institusyon at itatake over na ng mga baguhan ngayon.
Nakalusot ang mga anomalya dahil sa lumang sistema ng pamamalakad. Baka time for a change na sa PLDT. This is one huge blow sa kanila. Laki ng losses.
grabe naman si PLDT dito mapapatunayan na nagtake advantage sila nung pandemic, wala ring pinagkaiba sa corrupt government
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