Senator Christopher “Bong” Go said he strongly supports for an extensive and fair investigation into the reported unethical practices of a pharmaceutical company by the Senate blue ribbon committee. This after the Senate Committee on Rules formally referred the Bell-Kenz Pharma...
The officers and shareholders of MFT Group of Companies and The Foundry Ventures issued a statement reiterating their position that “we never engaged in securities transactions in violation of the Revised Securities Act.” They noted that the Securities and Exchange Commission has filed a...
Accounting firm Isla Lipana & Co. issued a statement pointing out that it is the auditor of Maria Francesca Tan (MFT) Group of Companies, Inc. only, and not any other companies under the group. “‘Maria Francesca Tan (MFT) Group of Companies, Inc.’ is our audit client. While the name of...
The Securities and Exchange Commission (SEC) has made permanent the cease and desist order (CDO) it issued against Maria Francesca Tan (MFT) Group of Companies, Inc. and Foundry Ventures I, Inc., along with their officers and agents. In a resolution promulgated on April 1, the Commission En Banc...
Equity acquisition in existing renewable energy (RE) projects had driven up the net income of Yuchengco-led PetroEnergy Resources Corporation (PERC) by 9.0% last year to P944 million from P863 million in 2022. The corresponding portfolio boost, according to the company, likewise shored up its...
The 14-megawat second phase of the Nabas wind farm project of Yuchengco-led PetroWind Energy Inc. (PWEI) has started shoring up power supply for the energy-strained Panay island after securing warranted clearances from relevant authorities and entities in the market. Prior to its injection of...
The Energy Regulatory Commission (ERC) is not inclined on removing the caps for the number of days allowed for maintenance shutdowns and even for the ‘forced outages’ of power plants across technologies. As sounded off by ERC Chairperson Monalisa C. Dimalanta, “it’s impossible to remove the...
As the country’s power supply is still at its wobbly state, the Department of Energy (DOE) guaranteed that it will conscientiously monitor the overall operations of the power grid so consumers can be alerted on any service interruptions and for relevant industry players to correspondingly sort...
The MFT Group of Companies (MFT Group) and its owners are asking the Securities and Exchange Commission (SEC) to lift the cease and desist order issued against the company for alleged illegal solicitation of investments from the public. In a statement, the firm said it has asked the SEC “to...
The aggrupation of generation companies (GenCos) has been batting for the scrapping of the P6.245 per kilowatt hour (kWh) secondary price cap in the Wholesale Electricity Spot Market (WESM) as this is already pinned down as disincentive to the targeted fresh capital flow in the power industry. In...
The Securities and Exchange Commission (SEC) has simplified the registration process for power companies opting for initial public offering (IPO) and other forms of stock offering that they will be pursuing at the local bourse. According to the Energy Regulatory Commission (ERC), the streamlined...
Zenaida Tantoco of luxury retailer Rustan Commercial Corporation (RCC), passed away on Feb. 8, 2024, at 77. Her granddaughter Nikki Huang confirmed the news about her demise through an Instagram story. Zenaida Tantoco Zenaida, Nedy to her friends and colleagues, was the eldest daughter of...
