Monday, August 06, 2007 SEC registers P76 million in investments
A TOTAL paid-up capital investment of P76.160 million had been registered by the Securities and Exchange Commission (SEC) in the region during the 1st quarter of this year.
Lawyer Renato V. Egypto, regional director of SEC in Northern Mindanao, said this is actually 208.47 percent higher compared to the P24.670 million in the same period of 2006.
Of this 1st quarter investments, P56.186 million or 73.77 percent is on business expansions while P19.974 million or 26.23 percent is on new registrations.
Comparative data show the business expansions, which were undertaken by two firms both located in Misamis Oriental, increased by 380.51 percent from P11.693 million in the same period, last year.
Likewise, the paid-up capital investments of 57 newly registered firms went up by 43.35 percent compared to P13.934 million, also in the same period of 2006.
Meanwhile, about 49 of these new firms with investments of P15.733 million also located themselves in Misamis Oriental while seven others with a capital of P4.206 million were in Bukidnon and one firm with P35,000, in Camiguin.
Egypto said that last year, SEC had registered a paid-up capital investment of P78.42 million from a total of 214 firms in the region, of which six firms worth P11.693 million were expansions and 208 firms worth P66.727 million were new registrations.
The bulk of the newly registered firms, last year, were located in Misamis Oriental with 163 firms worth P42.475 million, followed by Lanao del Norte, 22 firms worth P8.33 million, Bukidnon, 18 firms worth P7.397 million, and Misamis Occidental, five firms worth P8.821 million.
Similarly, five of the firms which underwent expansions worth P1.755 million, also last year, were located in Misamis Oriental while another one worth P937,500 was located in Lanao del Norte. (Trends)
