For repeated violations of disclosure procedures, the Roberto Ongpin-led Alphaland Corporation will be delisted from the Philippine Stock Exchange (PSE). The PSE ordered the delisting and barred Alphaland from “applying for relisting within a period of 5 years.” Alphaland officials – CEO Ongpin, president Mario Oreta and corporate secretary Rodolfo Ponferrada, were also disqualified from becoming “directors and/or executive officers in any company applying for listing with the exchange.” Company lawyers are said to be studying options, including filing a motion for reconsideration.
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