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The Philippine Stock Exchange has asked PLDT Inc to clarify its announcement that it did not uncover any fraud, anomalies, overpricing, and unrecorded transactions in its 48 billion pesos (RM3.86 billion) capital spending overrun, shortly after the Philippines' biggest phone company by revenue disclosed it.
PLDT Inc. on Wednesday, December 21, said it has "not unearthed fraudulent activities" in relation to the P48 billion capital expenditure overrun that the telco reported last week.
The telco's "business and the outlook for the business continue to remain healthy".
However, PLDT is "cooperating a
The Philippine Stock Exchange has issued a show cause letter to PLDT Inc. asking for clarification on the disclosure they made last December 16 regarding P48 billion in “budget overruns.”
“We expect to receive a response from PLDT within the week,” said PSE President and CEO Ramon S. Monzon.
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