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Flood control mess erases P1.7T in market value – SEC chief
Business World Philippines
|October 09, 2025
A WIDENING corruption scandal involving flood control projects has shaken investor confidence, erasing around PL7 trillion in market value in just three weeks, according to Securities and Exchange Commission (SEC) Chairperson Francisco Ed. Lim.
“The flood control project scandal has shaken public confidence, wiping out an extraordinary P1.7 trillion in market value of our publicly listed companies in just three weeks, despite rising corporate earnings,” Mr. Lim said in a speech at the 57 annual conference of the Financial Executives Institute of the Philippines.
He said investors are fleeing the market because of “weak integrity,” not weak fundamentals.
“Isa stark reminder that corruption isa weapon of mass wealth destruction,” Mr. Lim said, “When trust breaks down, capital dries up, and everyone — government, business, and the public — pays the price.”
In recent weeks, markets have been rattled by the widening probe into corruption in government projects, particularly flood control.
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FLERE HISTORIER FRA Business World Philippines
Business World Philippines
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