SEC probes Villar Land transactions, cites need for caution

The Securities and Exchange Commission (SEC) is carefully reviewing transactions made by Villar Holdings Corp., formerly Golden MV Holdings Inc., to ensure accuracy in the valuation of its prime property assets while protecting both market integrity and the company’s reputation.

SEC Chairman Francis E. Lim said the regulator has launched a fact-finding exercise to scrutinize the details of the Villar Group’s property valuations, stressing that premature conclusions could risk errors and unfairly damage the firm.

“We’re paying attention to the details before we come up with a decision one way or the other,” Lim said. “We cannot make judgments before investigating the facts. These are technical issues, and we must be as objective as possible.”

Trading of Villar Holdings shares on the Philippine Stock Exchange has been suspended since May 15 after the company failed to submit its financial statements. The stock was last traded at P2,296 per share.

Company welcomes review

Villar Holdings said it supports the SEC’s fact-finding probe, emphasizing that it is coordinating with regulators and providing updates on its financial disclosures.

The company said its financial statements are undergoing a rigorous external audit, which includes a detailed review of appraisal reports for high-value properties.

“This extensive audit is necessary to ensure the accuracy and integrity of the financial statements,” the company said, adding that the audited reports will be released publicly once the process is complete.

The firm reiterated its commitment to cooperate with regulators and comply with all requests for information throughout the investigation.

Lim noted that the review could also help refine SEC policies on asset transfers.

“We have to be very prudent because we’re policy makers. Policy should not be media-based—it should be data and evidence-based,” he said.