The Philippine Stock Exchange (PSE) will reclassify 11 listed firms to new sectors and subsectors by next week, Dec. 27.
In a circular published on Monday, the local bourse said the reclassification “is in consideration of corporate developments disclosed to the exchange as well as the result of a review of the companies’ financial statements for the years 2018 to 2020 and the latest quarterly report for 2021.”
The PSE’s Sector Classification Guide provides that a company will be put under a sector and subsector that is closely related to at least 60% or more of its revenue-maker.
AyalaLand Logistics Holdings, Corp. (ALLHC) will be under Property from Holding Firms.
“Accordingly, ALLHC shall become a constituent of the Property index from the Holding Firms index,” the PSE said.
Berjaya Philippines, Inc. will be classified under Retail of the Services sector, coming from Casinos & Gaming. Meanwhile, Belle Corp. will be moved to the Services sector under Casinos & Gaming from Property.
Villar-led Golden MV Holdings, Inc. will be classified under the Property sector from Services. Jolliville Holdings Corp. will be classified under the Electricity, Energy, Power, & Water of the Industrial sector, instead of under Holding Firms.
The Keepers Holdings, Inc. will be moving to the Food, Beverage, & Tobacco subsector of Industrial, after being under the Construction, Infrastructure, & Allied Services subsector.
MJC Investments Corp. will be reclassified to Casinos & Gaming under the Services sector, after having been under the Holding Firms sector.
Omico Corp. will be moved to Property from Mining & Oil under the Mining subsector.
Synergy Grid & Development Phils, Inc. will be under the Electricity, Energy Power & Water subsector of Industrial, while SOCResources, Inc. will be reclassified to Property. Both firms were previously part of the Holding Firms sector.
Meanwhile, PhilWeb Corp. will remain with the Services sector under the Casinos & Gaming subsector, instead of Information Technology. — Keren Concepcion G. Valmonte