SEC revokes registration of 47 financing companies

MANILA, Philippines — The Securities and Exchange Commission (SEC) has revoked the licenses of nearly four dozen delinquent financing corporations.

In an order dated May 27, 2025, the SEC Financing and Lending Companies Department directed the revocation of the articles of incorporation and the certificate of authority to operate a financing and lending company of 47 corporations.

The SEC said the erring financing and lending companies failed to file their financial statements and/or their general information sheet three times within a period of five years.

The companies are Phil. Holding Inc., Cosmopolitan Realty Corp., Philippine Shares Corp., E.T. Kalaw MGT. Co. Inc., Esna Financing and Inv. Corp., Faith Unlimited Financing Corp., Omega Twenty XX Inc., Bataan Financing Corp., Amalgamated Pacific Securities Inc., Household Finance Corp., Advent Capital and Finance Corp., Corporate Island Ventures Inc., Isla Finance Corp., Transfarm Finance & Leasing Co. Inc., Mega Currencies Inc., Centennial Financing Corp., Pacific Ace Finance Phils. Corp. and Swiss Finance and Inv. Inc.

Also included are Borough Financing Corp., United Tree Car Loan Corp., Green Cash Collection Services Inc., Ebiz Financial Services Inc., Cash Anywhere Services Hub Inc., Munticash Financing Corp., Life Bond Financing Corp., Sun Finance Co. Inc., Rush and Cash Philippines Financing Corp., Yescredit Financing Inc., Central Pacific Capital Co. Inc., Jas Comprehensive Collection Services Inc., Kerson Finance Corp., Adequ8 Financing Inc., PK Fortune Credit and Finance Inc., Altrio Group of Companies Manila Inc., Cash Financing Inc., State Union Finance Inc., Premstar Corp., Okane Financing Corp., Educredit Finance Corp., Mango Cash Financing Corp., Ecredit Finance Inc., SunCredit.Ph Finance Corp., Cashpapa Finance Inc., Always Fortune International Inc., Cashonexpress Limited Inc. and Asset Forward Financing Inc.

The commission said the companies were notified in October 2023 to avail themselves of the amnesty to avoid being classified as delinquent.

“All the respondents failed to avail themselves of the amnesty. Hence, the respondents’ corporate status was changed to delinquent,” the SEC said.

“As of this writing, all the respondents failed to comply with Section 9 of the guidelines (Memorandum Circular 19, Series of 2023) by failing to submit their audited financial statements, general information sheet, director or trustee compensation report and director or trustee appraisal or performance report and the standards or criteria used to assess each director or trustee,” it said.

A corporation with a delinquent status already entered in the SEC’s records are given six months from receipt of the order of delinquency to submit its audited financial statements, general information sheet, director or trustee compensation report and director or trustee appraisal or performance report and the standards or criteria used to assess each director or trustee.

If a corporation fails to comply, the commission is authorized to enter a revoked status in the said company’s records and issue an order of revocation.