Villar Land vows transparency amid SEC probe

Villar Land said it is cooperating with the Securities and Exchange Commission’s (SEC) fact-finding investigation over allegations raised against the company.

“Villar Land welcomes the fact-finding investigation of the Securities and Exchange Commission over allegations raised against the company,” it said in a statement over the weekend, adding that it remains compliant with market regulations.

The company said it continues to coordinate with regulators and will “fully cooperate with instructions and requests for information” during the probe.

Villar Land is under scrutiny after net income surged to P1 trillion in 2024 from P1.6 billion a year earlier, driven by fair value gains from higher appraisals of its Villar City properties in Cavite and Metro Manila.

Trading in its shares has been suspended since 16 May for failing to file its annual report on time.

The company said its financial statement is undergoing a rigorous audit by external auditors, including a review of appraisal reports covering high-value properties, to ensure accuracy and integrity.

Once completed, the audited financial statements will be released in full compliance with regulatory requirements.