The Securities and Exchange Commission has opened a fact-finding investigation into the sharp rise in the reported value of properties under Villar Land Holdings Corp. following the infusion of new assets.
SEC Chairman Francis Lim told the Shareholders’ Association of the Philippines forum over the weekend that the review was prompted by investor queries about the transactions.
“We are paying attention to the details before we come up with a decision one way or the other,” Lim said.
“There are many details. We cannot make judgments before investigating the facts,” Lim added, citing technical complexities.
He said the SEC must weigh the integrity of the market, the impact on investors, and the reputations of the companies involved. “What I don’t want to happen is for the SEC to act hastily and commit a mistake,” he said.
The issue stems from Golden MV Holdings Inc., which the Villar Group rebranded as Villar Land in December 2024, after its reported income surged to P1 trillion last year from P1.46 billion in 2023 due to land revaluation. The assets involved are 366 hectares in “Villar City” south of Manila, acquired in September 2024 for P5.2 billion through subsidiaries Althorp Land Holdings Inc., Chalgrove Properties Inc. and Los Valores Corp.
Lim stressed that the commission’s decision will be based strictly on the evidence it gathers.
“If these things end up in court, the court will decide on the basis of the facts and the evidence. We have to be ready,” he said.
In a statement, Villar Land said it “welcomes” the inquiry and remains “committed to transparency and compliance with rules enforced by the SEC and the Philippine Stock Exchange.”
The company said its financial statements are undergoing a rigorous audit, including a review of appraisal reports on high-value properties. The audited results, it added, will be released in full compliance with regulatory requirements.
Villar Land also said it will “continue to cooperate with regulators and comply with all requests for information during the fact-finding exercise.”
