Arthur Fuentes

Manny Villar at the sidelines of the Makati Business Club Forum at the Makati, Shangri-La, March 07, 2019. Jonathan Cellona, ABS-CBN News

Article (news)

Villar

ABS-CBN News

MANILA — Villar Land Holdings Corp has filed an appeal with securities regulators on the fine slapped on the company and its officials over delays in the filing of its audited financial reports.In a disclosure to the stock exchange on Thursday, the company said it and its directors and officers had filed a Motion for Reconsideration on Sept. 1 on the fines and penalties.  The company said the delays &quot;did not spring from neglect or omission on the part of Villar Land or its directors and officers, but from circumstances beyond their control, in particular, the protracted review process of its external auditor.&quot;&quot;The resolution of each of the Response and Motion for Reconsideration is currently pending before the SEC,&quot; the company said.The SEC earlier ordered the company, formerly known as Golden MV Holdings, to pay an administrative fine of P12 million for the late submission of its audited financial statements, and a P2000 per day fine starting July until it was able to submit these financial reports. The penalties were in lieu of the suspension of its registration and permit to sell shares.The SEC had said Villar Land’s explanation for the late submission of its 2024 Annual Report and Q1 2025 Quarterly Report was without merit.SEC Chairperson Francis Lim earlier said they wanted to check if there was insider trading, manipulation, and other issues in relation to the huge spike in the valuation of Villar Land, which reported that its net profit for 2024 jumped to almost P1 trillion from just P1.46 billion in 2023.Villar Land had attributed this to fair value gains on investment properties.

Villar Land has filed an appeal with the SEC on the fines slapped on the company and its officials over delays in the filing of audited financial reports.

Villar Land has filed an appeal with the SEC on the fines slapped on the company and its officials over delays in the filing of audited financial reports.

Villar Land appeals SEC fines, says delay in financial reports 'beyond their control'

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Villar Land appeals SEC fines, says delay in financial reports 'beyond their control'

Arthur Fuentes,

ABS-CBN News

Published Sep 11, 2025 06:42 PM PHT

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Villar Land Holdings

SEC

Golden MV Holdings

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