Business

Yap family’s CEU penalized for late annual report

The Philippine Stock Exchange has penalized Centro Escolar University for failure to submit its annual report on time.

The Philippine Stock Exchange has penalized Centro Escolar University for failure to submit its annual report on time.

The Mendiola-based school, owned by the Yap family, failed to submit its 2019 annual report on or before the extended deadline of September 12, 2020. The PSE didn’t indicate the penalty.

A listed firm has up to 105 calendar days after the end of the fiscal year (or any valid extension) to submit its annual report.

CEU posted a net income of P187 million in fiscal year 2019 (ending March) , up 70 percent from P110 million in 2018.

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