The Securities and Exchange Commission (SEC) has revoked the corporate registration of Empire 999 Realty Corporation which owns the warehouse in Pampanga where billions worth of illegal drugs were found. “For engaging in unauthorized activities, in violation of Section 6(i)(2) of Presidential...
The Securities and Exchange Commission (SEC) reported that it has secured the conviction of five officers of lending company All-in 7,000 Lending and Trading Corp. for falsifying documents required for their SEC registration. In a decision dated June 25, Branch 47 of the Metropolitan Trial Court of...
The Securities and Exchange has issued a warning to the public that Safe District Enterprise is not authorized to solicit investments from the public. In an advisory, the SEC said its warning is prompted by reports and information it gathered that individuals representing an entity named Safe...
The local stock market may continue to ride higher on news of the lower Philippine inflation and indications of disinflation in the US although investors will still be waiting for the US July inflation report and some local economic data for more cues. “We’re seeing a build-up of upward...
The Securities and Exchange Commission (SEC) has insisted that the Maria Francesca Tan (MFT) Group of Companies, Inc. and Foundry Ventures I, Inc. should have secured the necessary government licenses first before soliciting investments from the public, the Department of Justice (DOJ) said on...
Ayala-led ACEN Corporation has inked a contract with subsidiary ENEX Energy Corporation (ENEX) for the agreed shares subscription covering 177,544,011 non-voting preferred shares of the latter to be issued at a par value of P1.00 per share. According to ACEN, the shares will be issued from ENEX’s...
The Securities and Exchange Commission (SEC) reported that the Philippines has made significant progress and is moving closer to exiting the Financial Action Task Force (FATF) gray list. During the FATF plenary meeting held in Singapore from June 23 to 28, the global money laundering and terrorist...
Maynilad Water Services, Inc., the water provider of most cities in Metro Manila, has been granted by the Securities and Exchange Commission (SEC) a permit to sell its P15 billion blue bond offering. This comes after the Philippine Rating Services Corporation granted Maynilad’s blue bonds a PRS...
Leading oil industry player Petron Corporation is seeking extension from the Securities and Exchange Commission (SEC) for the shelf registration of its P50 billion worth of programmed peso fixed-rate bonds issuance. The company stated that in its disclosure to the Philippine Stock Exchange (PSE),...
The Securities and Exchange Commission (SEC) has ordered six financing and lending firms to stop operations for failure to comply with requirements of the Financial Consumer Products and Services Consumer Protection Act. In a statement, the SEC said it has issued cease and desist orders (CDO)...
The Securities and Exchange Commission (SEC) has ordered Humanitarian and Spiritual Mission Apostulates of Davao and Asia Inc., HASMADAI Foundation Inc., and Humanitarian Institute of Technology Corp. (collectively HASMADAI) to stop their unauthorized solicitation of investments. In a cease and...
After its steep eight-day fall, the local stock market will now be looking forward to the Monetary Board’s policy meeting later this week as it hopes for a statement that will trigger bargain-hunting among investors. “The local market is seen to be exhibiting a bearish bias… With its decline,...
