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PIA Press Release

Northern Mindanao SEC-registered investments up 10.30% in Q1

by Rutchie Cabahug-Aguhob

Cagayan de Oro City (29 July) -- A total paid-up capital investment of Php24.74M was registered by the Securities and Exchange Commission (SEC) in Northern Mindanao, in the first quarter, this year.

This investment was higher by 10.30 percent compared to the investments of Php22.43M in the same period of 2009, Atty. Renato V. Egypto, Regional Director of SEC, region 10, said.

Comparative data of the region also show that the SEC-registered investments in the Lanao del Norte-Iligan City cluster increased from Php23.83M to Php7.82M or 503.74 percent, followed by Bukidnon, from Php1.36M to Php3.09M or 126.79 percent.

However, investments in the Misamis Oriental-Cagayan de Oro City cluster declined, from Php19.17M to Php17.22M or down by 10.21 percent, Egypto said.

He said no investments were put up in the Misamis Occidental-Ozamiz City cluster, just as there were no such investments in Camiguin, thereby posting a 100 percent decline in SEC-registered investments, in both areas, during the period.

Meanwhile, a total of 79 firms involving stock corporations and partnerships was registered by the SEC in the region, during the first quarter, posting a decline of 42.75 percent compared to 138 firms in the same period, last year.

The number of firms in Bukidnon also decreased from 10 to four (4) or down by 60 percent, Lanao del Norte-Iligan City cluster, from seven (7) to four (4) or down by 42.85 percent and Mis. Or.-CDO City cluster, from 116 to 71 or down by 38.79 percent. (PIA 10) [top]

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