Philippine Tycoon’s Firm Says Audit Underway After SEC Probe

The Philippines’ most valuable company said its financial statement is currently undergoing “rigorous audit” by external auditors after Manila’s securities regulator said it would look into the property developer’s valuation and deals.

The audit includes a “comprehensive review of appraisal reports covering high-value properties,” Golden MV Holdings Inc, a cemetery-to-business hub developer owned by Philippine billionaire Manuel Villar, said in a statement sent on Monday.

“This extensive audit is necessary to ensure the accuracy and integrity of the financial statements,” the company said.

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The Securities and Exchange ...