A BROWN COMPANY INC. said Tuesday that it had been assessed a P351,557.05 penalty by the Securities and Exchange Commission (SEC) in relation to the regulator's evaluation of the company's 2025 consolidated audited financial statements.
In a disclosure, the listed property and investment holding firm said it received a letter dated June 5 from SEC's Office of the General Accountant informing the company of the penalty.
The regulator was said to have directed A Brown to submit proof of payment within 10 days from receipt of the notice.
While the agency did not specify in the disclosure the findings that led to the assessment, the penalty stemmed from the agency's review of the company's audited financial statements for 2025.
The company said the matter would not affect its pending application to register up to P12 billion worth of fixed-rate bonds under a shelf registration program.
According to A Brown, the SEC noted that the assessment of the penalty was "without prejudice" to the continuing review and processing of the bond registration application.
The proposed bond issuance is currently awaiting regulatory approval from the commission.
A Brown said it intended to engage with the SEC and address the matter within the required period.
"Rest assured that the corporation will discuss and resolve the foregoing with the SEC-OGA within the required period," the company said.
In recent years, the company has tapped the capital markets to support expansion initiatives and refinance existing obligations. Investors are expected to monitor any further disclosures regarding the SEC's findings as well as the progress of the company's planned P12-billion bond program.
A Brown’s share price fell by a centavo to close at P0.67 each on Tuesday.
NAZYLEN JOY MABANGLO
