Villar Land vows transparency amid SEC complaint

Villar Land Holdings Corp., formerly Golden MV Holdings Inc., has vowed full cooperation in addressing the Securities and Exchange Commission (SEC) case referred to the Department of Justice, even though it has yet to receive a copy of the complaint.

In a Tuesday statement, Chairperson Manuel B. Villar Jr. said the company has consistently upheld 'the highest standards of good corporate governance' and fully cooperated with the SEC’s previous fact-finding investigation.

“We are unequivocally committed to transparency and compliance with existing rules and regulations enforced by both the SEC and the Philippine Stock Exchange. We have consistently disclosed material developments and continue to coordinate with regulators regarding the status of our financials,” Villar said.

He added that his knowledge of the current case is limited to media reports but assured that his company will respond to the allegations in the proper forum. 

“My knowledge is limited to what has been reported by various media outlets. I understand that the DOJ will now have to evaluate the complaint and determine if a preliminary investigation will be warranted,” Villar said.

“We will fully cooperate with an impartial investigation that fosters due process, protects the public’s welfare, and ferrets out the truth. I am confident that justice will prevail, and I, my family, and our companies will be exonerated of all these baseless charges."

Likewise, Villar defended his personal and professional record, saying that throughout his career, he has never engaged in illegal practices intended to defraud customers or investors, or to personally benefit himself or his companies.

To recall, charges filed by the SEC stemmed from Villar Land’s 2024 financial statements, which initially reported a jump in total assets to P1.33 trillion and net income of P999.72 billion, up from P1.46 billion a year earlier. 

The company attributed the increase to a revaluation of its real estate holdings.

The SEC said these figures were disclosed before the completion of an external audit. When the audited statements were submitted, total assets were revised to P35.7 billion.

The SEC also alleged that related entities, including Infra Holdings Corp. and MGS Construction, engaged in trades that artificially supported Villar Land’s share price, and that Sen. Camille A. Villar conducted insider trading by buying 73,600 shares in December 2017 ahead of a price-sensitive disclosure.

Regulatory issues with Villar Land’s property appraiser were also cited. In November 2025, the SEC revoked the accreditation of E-Value Phils., Inc. and fined it P1 million for providing unreliable valuation reports used in the company’s asset revaluation.

“Building investor confidence in the Philippines is crucial in driving the inclusive and sustainable growth of our capital market and business sector for national development,” SEC Chairperson Francis Lim said.