THE Securities and Exchange Commission (SEC) has dismissed a petition to block the tender offer and backdoor listing of Tiger Resort Leisure and Entertainment, Inc. (TRLEI)
In an eight-page decision by SEC Markets and Securities Regulation Department Director Vicente Graciano Felizmenio Jr. and dated December 11, but released on Friday, the SEC denied Asiabest Group International, Inc. shareholder Carnell Valdez’s complaint against the Okada Manila operator’s parent company Tiger Resort Asia Ltd. (TRAL); First Resources Management and Securities Corp.; Philippine Stock Exchange (PSE); and Asiabest for the latter’s non-disclosure of TRAL’s involvement in civil and criminal suits in Hong Kong over the ownership and control of Okada Holdings Ltd. (OHL), Universal Entertainment Corp. (UEC) and TRAL.
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