The real estate firm, backed by Malaysia’s billionaire Kuok family, initially disclosed a cash dividend of P0.01191 per share only to correct it to P0.1191 the next day for a tenfold payout difference.
The wrong decimal point made total dividends amount to P56.7 million instead of the correct P567.4 million.
Error remained for hours during trading
The error was left uncorrected with about two hours left in the session.
This caused the developer’s shares, trading under the symbol SHNG, to plunge 14 percent before finishing the session down 12 percent to P3.30 each with trading valued at around P8.2 million, a surge of about 1,600 percent from the previous session.
Shang Properties partially recovered on March 19 as the stock rose 4.85 percent to P3.46 after the dividend was corrected before trading opened.
Investors demand accountability
Investors on the social media platform X, formerly Twitter, demanded accountability following the incident.
“Sold all of my [SHNG] due to massively down dividend payout only to have it rectified due to a misplaced decimal point…I want my shares back. Who’s fault is this?,” one user said.
“SHNG wrong disclosure of dividend was very irresponsible,” another user said.
Shang Properties is the developer behind premium residential projects such as Aurelia Residences, Haraya Residences, Horizon Homes, Shang Residences at Wack Wack, Shang Salcedo Place, and One Shangri-La Place.
The corrected dividend still indicated a lower payout year-on-year, reflecting weaker earnings in 2025.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
