The Philippine Stock Exchange (PSE) has dropped Marsteel Consolidated Inc. (MC) from its list of component stocks after years of the investment holding company’s dormancy, failing to submit financial reports in compliance with corporate laws.
In a notice posted on the exchange’s website on Thursday, the PSE said MC, which was headed by the Martels, has failed to submit several annual and quarterly reports to both the PSE and the Securities and Exchange Commission (SEC) since 2006.
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