SEC examining Villar Land's P1.3-T property appraisals, P1-T net income

THE Securities and Exchange Commission (SEC) said it is reviewing the P1-trillion net income and valuation gains reported by listed property developer Villar Land Holdings Corp. for 2024, along with the company’s share price.

- By Revin Mikhael D. Ochave

“We're examining it; we’re paying attention to the details before we come up with a decision one way or the other,” SEC Chairperson Francisco Ed. Lim told reporters on the sidelines of the Shareholders’ Association of the Philippines, Inc. Annual General Membership Meeting in Makati City on Friday last week.

“There are many details. We cannot make judgments before investigating the facts. Was there insider trading? Was there manipulation? These are technical and legal issues. What I don’t want is for the SEC to act hastily. We're doing fact-finding first,” he added.

The Philippine Stock Exchange (PSE) suspended trading of Villar Land shares, formerly Golden MV Holdings, Inc., on May 16 after the property developer was unable to file its 2024 annual report.

Villar Land’s shares were unchanged at P2,296 per share as of May 15. The trading suspension has yet to be lifted as of writing.