THE Philippine Stock Exchange (PSE) is not inclined to pursue Japanese businessman’s Kazuo Okada’s call for a probe of listed Asiabest Group International, Inc., which a company formerly controlled by the gaming tycoon wants to purchase for a planned backdoor listing. Asiabest, PSE Chief Operating Officer Roel Refran told reporters on Monday, has been compliant with regard to the relevant disclosures, which Okada has described as “suspect and outright evasive” as these did not cite his claims against the purchasing firm, Tiger Resort Asia Ltd. (TRAL). Okada, who was ousted in 2017 from family-owned Okada Holdings that among others controls Tiger Asia unit Tiger Resort Leisure and Entertainment, Inc. (TRLEI), the operator of the Okada Manila integrated gaming and resort complex in Parañaque. “But to say that we will compel the company, which is not yet technically TRAL, we’ll probably have to wait and see first how the transaction turns around,” Refran continued. The listed firm’s shares ended up 10 centavos on Monday at P26.85 apiece, bucking a 0.39-percent dip for the benchmark PSE index.
Source: Manila Times October 08, 2018 18:33 UTC