CAGAYAN DE ORO CITY - The Security and Exchange Commission - Cagayan de Oro Extension Office (SEC-CDOEO) has issued a public advisory on 27 firms allegedly running "investment scams". The advisory about the 27 suspicious investment firms without appropriate SEC licenses was posted on the Facebook page of the Department of Trade and Industry-Bukidnon on Tuesday. In a statement, lawyer Frederick A. Enopia, SEC-CDEO officer-in-charge, said the majority of the identified entities utilize the online platforms through mobile applications to entice the public in various areas. Enopia also noted the prominence of Bukidnon-based "Wellcons Unlimited System, Inc." whose operations proliferate in areas of Northern Mindanao and Caraga regions. "SEC-CDOEO was alarmed by the prominence of the Wellcons' presence in its jurisdiction throughout Region 10 (Northern Mindanao) and 13 (Caraga) by receiving numerous reports. The SEC -CDOEO then issued an advisory to warn the publ
TANGUB CITY, Misamis Occidental - The Securities and Exchange Commission (SEC) on Tuesday said the increase of new incorporations and registrations in Northern Mindanao is an indication that business remains promising in the region in the last two years despite the pandemic. In a statement, lawyer Frederick A. Enopia, officer-in-charge of the SEC-Cagayan de Oro (CDO) extension office, said for 2021, their office received a total of 1,505 registrations from 726 stock corporations; 67 partnerships; and 712 non-stock corporations. The total number constitutes a 27.56-percent increase from its 2020 figure, which the DTI said was an indicator of a higher filing of new incorporations and applications for expansion in capital. "This is truly evident to what we are seeing today as business starts to operate once again. We have indeed loosened up our precautionary measures, which allow these establishments to recover from the long period of economic loss," he said. An increase in capi