DELISTING: MON, SWM, UP, WHI, BF

Effective 10 March 2011, the Philippine Stock Exchange will effectively delist five companies--Mondragon International Philippines Inc. (MON), Sanitary Wares Manufacturing (SWM), Universal Rightfield Property Holdings Inc. (UP), Wise Holdings Inc. (WHI), and Banco Filipino Savings and Mortgage Bank (BF)--for repeatedly failing to file their financial reports with the bourse, one of the conditions for continued market listing. These companies are among the 30 companies that PSE have already suspended for trading. 

 

The longest-listed in this group is SF, a full-service savings bank with trust operations, and listed in 1973. WHI followed, listed in 1986, and a parent company with subsidiaries in trading, financial services, consumer banking and investments.

 

The remaining three got listed in the 1990s. SWM was listed in 1990, and produces a line of world-class vitreous china sanitary wares with the American Standard brand. On the other hand, UP was listed in 1993. It is a holding company focused on real estate development. Listed in 1994, MON is a holdling company with interests in the development of resort facilities and gaming.