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PLDT Inc. announced it will amend its Form 20-F for the fiscal year ended December 31, 2025, to correct prior period…
PHTCFPLDT Inc.
PLDT Inc. announced it will amend its Form 20-F for the fiscal year ended December 31, 2025, to correct prior period financial statement errors and acknowledge a material weakness in internal controls over financial reporting as of that date. The company identified deficiencies in accounting for structured hedge arrangements, specifically regarding the recycling of net fair value losses on cash flow hedges. Independent auditor SyCip Gorres Velayo & Co. (SGV) withdrew its audit opinions on both the internal controls and the financial statements contained in the original April 2026 filing, stating they can no longer be relied upon. Management plans to reclassify amounts from 'Other Expenses-net' to appropriate line items but expects these revisions not to materially affect reported net income, earnings per share, cash flows, or key operating metrics like EBITDA and EBIT. An independent review by the Audit Committee is ongoing to assess the errors and remediation measures. PLDT operates in the telecommunications industry, providing fixed-line, wireless, and digital services across the Philippines.