Yesterday we ran a story about SM Investments Corp considering the possibility of developing a casino on Cebu. In a filing with the Securities and Exchange Commission the company has clarified their position, stating that they have no specific plans.
In the filing, which was to clarify a story first published by the Philippine Star, Jose Sio, chief financial officer of SM Investments Corporation stated, “At the Latham and Watkins Conference, we only mentioned the possibility of having a gaming project in Cebu given the development in the area. However, the company does not have any specific plans to pursue this as it will depend on market condition and prevailing government policy.”
We have retracted our original story, “Casino project in Cebu eyed by SMIC” .
You may follow the link to read the complete PSE Disclosure Form 4-13 – Clarification of News Reports – References: SRC Rule 17 (SEC Form 17-C) and Section 4.4 of the Revised Disclosure Rules SMIC filed with the Securities and Exchange Commission.