The Securities and Exchange Commission (SEC) said Thursday it imposed P12 million in fines against Villar Land Holdings Corp. and 12 of its directors and officers for allegedly failing to submit financial statements on time.
Villar Land, formerly known as Golden MV Holdings Inc., had earlier cited delays in the appraisal and audit of properties it acquired in 2024, including the Villar City Land, as the reason for the late submission.
In an order dated August 18, 2025, the SEC’s Markets and Securities Regulation Department said Villar Land allegedly violated the Securities Regulation Code (Republic Act No. 8799).
The SEC also imposed an administrative fine of P2,000 per day of delay starting July 1, 2025, until the company submits its 2024 audited financial statements (AFS), annual report, and first-quarter report.
Villar Land said in a disclosure to the Philippine Stock Exchange on Tuesday that it is postponing its annual stockholders’ meeting to Oct. 20, 2025. The meeting was originally scheduled for Sept. 3.
The company’s board of directors approved the postponement to ensure it had sufficient time to comply with regulatory requirements, particularly attaching its 2024 Audited Financial Statements and its quarterly report for the periods ended March 31, 2025, and June 30, 2025, to its SEC Form 20-IS.
The meeting will be conducted via remote communication, with livestream access provided to registered participants. The record date for the meeting is Sept. 15, 2025, the company said.
