The Securities and Exchange Commission (SEC) is conducting a fact-finding investigation into the asset transfers and property valuation surge involving Golden MV Holdings Inc., recently renamed Villar Land Holdings Corp., following the suspension of its shares from trading on the Philippine Stock Exchange.
SEC chairman Francis E. Lim confirmed that the inquiry centers on alleged irregularities surrounding the transfer of large tracts of prime real estate owned by the Villar group and their impact on the company’s valuation. He emphasized that the agency is scrutinizing the details before making any determinations, noting the technical nature of the case.
“We’re examining it carefully… We don’t want to act hastily and make a mistake,” Lim said, stressing the importance of protecting market integrity, investor interests, and corporate reputations. He also highlighted the need for potential policy refinement regarding asset transfers.
Villar Land shares have been suspended since May 15 after the company failed to submit its financial statements. The firm responded by stating that it welcomes the SEC’s investigation, saying that its books are under a comprehensive audit, including a review of high-value property appraisals. It assured full cooperation with regulators and compliance with all disclosure requirements.
Lim reiterated the SEC’s commitment to making evidence-based decisions, adding, “This is an opportunity to refine policy — not based on media narratives, but on data and legal standards.”
