The Securities and Exchange Commission (SEC) is warning the public, especially Aklanons, "to take the necessary precautions before entering into transactions with Phil-Asia Care Plans, Inc."
According to the SEC, the Court of Appeals (CA) is "directing Phil-Asia, its officers, directors, representatives, salesmen, agents and all persons acting on their behalf to cease and desist from further engaging in activities of selling, offering for sale pre-need plans and to refrain from further collecting amortization. This SEC warning is issued on September 25, 2003 which is still enforced to the present.
According to the SEC, Phil-Asia Cares Plan, Inc. "has no pre-need plans available for sale…, no licensed dealers; no salesmen’s permit; and no authority to operate a branch. The company failed to comply with all the SEC requirements for a pre-need company and…is not authorized to sell new pre-need plans."
Director Hubert B. Guevara of the Compliance and Enforcement Department, SEC in his letter to Aklan Gov. Carlito S. Marquez, informed about Phil-Asia Care Plans, Inc. owned by Vicente R. Afulugencia, Sr. because of several queries SEC is receiving regarding the said company.
"The subject corporation has pending criminal cases filed with the Mandaluyong Regional Trial Court…for violation of…Securities Regulation Code."
Madyaas Pen tried to contact the officers of Phil-Asia Care Plans, Inc. to get its side of this cease and desist order, but failed to contact them.
Based upon the report of PO1 George L. Quimpo, Municipal Ordinance officer of Kalibo, Phil-Asia Care Plans, Inc. is presently located at Waldolf Bldg., Osmeña Ave., Kalibo, Aklan. Phil-Asia Care Plans, Inc. is headed by Mr. Melchor Constantino, Jr., Area Manager and Ms. Jade Illo, branch manager.
Quimpo reported further that Phil-Asia has Business Permit to operate in Kalibo in 2005. But, it has no Business Permit for the last three years: 2006, 2007 and 2008.
According to Ms. Mary Gay V. Quimpo of the Office of the Mayor of Kalibo, a closure order was prepared and served on August 11, 2008 Phil-Asia Care Plans, Inc. /MP
3 comments:
Sir Botoy,
This is Mr.Melchor Constantino of Phil Asia Care Plans, Incorporated.In connection with the letter of Sir Hubert Guevara to Gov.Carlito Marquez dated July 15, 2008,it is true that the Securities and Exchange Commission issued a cease and desist order dated May 28,2002 againts Phil Asia Care Plans, Incorporated but he failed to disclose that the said commission has been enjoined by the former eight division of court of appeals in its resulotion dated November 12,2003 and writ of Preliminary Injunction dated also November 12, 2003 from enforcing them. For your information and proper understanding.
Mr. Botoy,
Phil-asia Care Plans, Inc . is registered company cdo and other issues ay dati na yan at pinagkalooban na ang phil-asia ng permiso sa pag operate with the write of preliminary injuction issued by court of appeals for your information hindi nagng loloko ang phil-asia at seryoso ang kompanya sa kanyang layunin.kung ipapasasra nila ang kompanya pwedi man yan pero bayaran nila ang memorial service ng Planholders 155,000 each and hospitalization 60,000.00 perconfinement at hospital lost of income 6,000 per confinement pero kung hindi kaya ni guevara sagutin ang mga benepisyong yan mabuti pa zipperan niya yang bunganga niya. Salamat. Concern citizen
Good morning po:
Kindly pass this message to Philcare asia? APO
Clarification po ,Philasia care plans holder po kami, A CERTAIN ELIZABETH BERRY is collecting premiums pa para sa APO, is she authorized to collect ? nagvivisit po siya personally sa mga offices and nagbebenta ng fire insurance under COOP LIFE ASSURANCE SOCIET OF THE PHILIPPINES...
please advise us kung authorized siya kasi malakilaki na rin ang nakokolekta niya dito sa Manila.
Thank you
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