Rappler
SEC to appraiser: Explain Villar Land’s P1.34-trillion valuation
The Securities and Exchange Commission (SEC) has ordered E-Value Philippines Incorporated, the asset appraiser for Villar Land Holdings, to explain why it should not be penalized for its P1.34-trillion valuation of the firm's Villar City development.
This action by the SEC is part of an ongoing investigation into Villar Land's 2024 financial statements, which the company failed to submit before the deadline.
The SEC previously fined Villar Land P12 million for the late submission of its financial reports, and an additional P2,000 for each day it failed to submit its audited earnings reports for 2024 and the first quarter of 2025.
The SEC's Office of the General Accountant issued the show cause order to E-Value Philippines Incorporated on September 29.
Despite the delayed filings, Villar Land authorized the release of its unaudited financial statements to the Philippine Stock Exchange on March 28.
The corporate regulator stated that it will continue to investigate this matter thoroughly to uphold transparency and accuracy in valuation and financial reporting practices.
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