Megaworld shareholders lost P111M after BIR blunder

The Manila Times

May 25, 2022

EXCERPT 


PUBLIC shareholders of Megaworld Corp. lost more than P100 million in value following the Bureau of Internal Revenue's (BIR) announcement of a supposed closure order against the property developer.


"Collectively, the public shareholders of MEG lost about P111 million in value from May 17-23," Finance Secretary Carlos Dominguez 3rd told reporters in a Viber message late Monday.


Dominguez said that of the total, the Government Service Insurance System and Social Security System lost P37 million.


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