LISTED packaging firm Steniel Manufacturing Corp. on Friday said it had received a notice from the Securities and Exchange Commission (SEC) imposing penalties of about P4.4 million "as a consequence of its delayed filings of reports" and the non-holding of its annual stockholders' meeting in 2023.

Steniel told the stock exchange that the delayed filing of reports involved annual, quarterly and current reports for 2022 to 2023."The company is reviewing the matter and will seek reconsideration where necessary and update the public in due course," it added.SEC guidelines require that listed companies file their annual reports within 105 days from the end of their fiscal year. Quarterly reports, meanwhile, should be submitted within 45 calendar days after the end of the quarter.Steniel shares were suspended from trading by the Philippine Stock Exchange on Friday. Its share price closed at 92 centavos on Thursday.