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EEI penalized for breaching PSE rules

June 9, 2023

Bilyonaryo.com

EEI Corp., a construction giant partly owned by the Yuchengcos, has been penalized by the Philippine Stock Exchange (PSE) for non-compliance with the consolidated listing and disclosure rules.

The PSE found EEI in violation of Section 13.1 of Article VII, which mandates issuers to disclose the ownership of directors and principal officers in their securities. The penalty was imposed due to the company’s failure to provide timely and accurate disclosure of such information.

In the first quarter of 2023, EEI incurred a net loss of P444.2 million, a reversal of the P209.14 million in the same period last year.

Despite the financial challenges, EEI has maintained its market position and leadership in the construction industry, thanks to its ongoing projects and new major property development ventures.

Related News Tags: EEI Corp., Philippine Stock Exchange (PSE), Yuchengcos

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