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A Philippino pair trade

An idea for instos and funds with easier access to the short side.

1) the apparent difference in gravity between the company infractions (according to the Philippino govt anyway), as BTO's looks rather admin-related while OGC's looks potentially serious
2) the relative exposure of the two companies to the country in NAV terms (OGC has more percentage of its overall corporate neck on the line)
3) the roughly equal share price reaction so far today (I recently saw BTO down 12% and OGC down 13%)

...a decent pair trade looks like long BTO/short OGC from here.