SEC Warns Another Online Scam

The Securities and Exchange Commission (SEC) has issued another set of advisories against several entities soliciting investments from the public without the necessary licenses.

 

We are reminding the public to exercise caution when dealing with individuals or groups soliciting investments for and on their behalf:  

 

1. JUAN SAVINGS

2. 1 HEAL 1 WORLD TRADING

3. KAIZEN MARKETING ENTERPRISE

4. BITFINANCEINVESTMENT.LTD 

5. CHIYUTO CREATIVE WEALTH DOCUMENT FACILITATION SERVICES ("CCWDFS")

JUAN SAVINGS, which is claiming to be engaged in a legitimate forex trading business and has its own professional traders, has NOT been issued a license by the SEC. Moreover, the Commission does not allow the registration of Foreign Exchange (FOREX) in the nature of Commodity/Financial Futures Contract, Contracts for Difference (CFDs) and other similar derivatives nor their merchants/brokers as the pertinent rules governing these securities remain suspended pursuant to Rule 11 of the 2015 Implementing Rules and Regulation of the SRC.

1 HEAL 1 WORLD TRADING and CHIYUTO CREATIVE WEALTH DOCUMENT FACILITATION SERVICES ("CCWDFS") are not registered with the Commission either as a corporation or as a partnership and is not authorized to solicit investments from the public.

Meanwhile, the scheme of KAIZEN MARKETING ENTERPRISE through its CEO program, with its focus on recruitment, is undoubtedly a PYRAMIDING SCHEME masquerading as a Multi-Level Marketing program and therefore, involves the offer and sale of securities in the nature of investment contract to the public.

BITFINANCEINVESTMENT.LTD, which offers guaranteed, risk-free investments plans purportedly to be invested in cryptocurrency trading, is NOT REGISTERED with the Commission and OPERATES WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities. It is also NOT REGISTERED either as a crowdfunding intermediary or a funding portal under SEC Memorandum Circular No. 14, Series of 2019 or the Rules and Regulations Governing Crowdfunding. Likewise, its name DOES NOT APPEAR among the registered banks, exchanges or companies engaged in digital assets with the Bangko Sentral ng Pilipinas (BSP).

For the complete list of advisories, you may visit https://www.sec.gov.ph/investors-education-and-information/advisories/

We hope you can help us warn the investing public. Thank you!

Retail Electricity Market Gains Ground Despite COVID-19

Retail Electricity Market Gains Ground Despite COVID-19

The Energy Regulatory Commission (ERC), in its 2nd Quarter 2020 Monitoring Report of the Retail Electricity Market, stated that it has granted a total of forty-two (42) Retail Electricity Supplier (RES) Licenses and authorized twenty-five (25) Local RES.  The said suppliers now compete for the supply of electricity of contestable customers in the Competitive Retail Electricity Market (CREM).  The CREM is where qualified contestable customers (those consuming 750 kW and above) have the option to choose their electricity provider, either from an RES or from a Local RES, the competitive business segment of a distribution utility (DU).  

"The Commission has been regularly monitoring the activities in the Competitive Retail Electricity Market to observe the behavior of the stakeholders in this market, particularly in terms of pricing, switching patterns and the capacity and energy of contestable customers", said ERC Chairperson and CEO Agnes VST Devanadera.

The ERC's Monitoring Report further disclosed that as of the 2nd Quarter of 2020 total registered contestable customer issued with Certificates of Contestability by the ERC is at 2,089.  Out of the said number, 1,460 or 70% have entered into Retail Supply Contracts (RSC), which means that these qualified customers have decided to source electricity from a RES. The remaining 629 or 30% stayed with the regulated services of their respective DU.

From the total number of 1,460 contestable customers which have entered into RSCs, 1,120 or 77% are within the 1MW and above threshold, while 340 or 23% are within the 750kW to 999kW threshold.  Meanwhile, for the 629 contestable customers with Certificates of Contestability which have remained under the regulated services of their respective DUs, 328 or 52% are within the 1MW and above threshold, while 301 or 48% are within the 750kW to 999kW category.

In terms of market share, the total demand of all contestable customers as of the 2nd Quarter of 2020 is recorded at 4,977.31 MW.  Out of the said total demand, 81% are currently being served by an RES while the remaining 19% are still under the DU regulated service.

With respect to the suppliers in the CREM, the ERC's monitoring report further disclosed that majority or 55% of the ERC-licensed RES are affiliates of generation companies (GenCos) while 20% are also operating a generation company as another business segment. Meanwhile, 17.50% have no affiliations in the electric power industry whereas the remaining 7.50% are affiliated with Distribution Utilities (DUs).    Having more suppliers that are GenCo affiliated gives confidence that electricity supply is ensured and that they have the capability to offer competitive or cheaper prices in the CREM.  This is a positive indication which signifies that competition in the CREM is gaining ground and slowly breaking the monopoly in the supply of electricity by allowing more entities to act as a supplier. 

As to the contestable customers' participation, the CREM registered an increase of almost 2% despite the Community Quarantine imposition in most of the areas in the country.  Although the contracted capacity of these contestable customers were reduced due to the impact of the pandemic on operations, the increase means that more contestable customers opted to enjoy the benefits of Retail Competition and Open Access (RCOA). 

In terms of pricing, the ERC's evaluation revealed that eleven (11) RES have decided to offer lower rates for the quarter, while fourteen (14) RES have maintained their previous quarter's offer prices, and seven (7) RES have increased their prices.  Nonetheless, the overall price scenario for the 2nd Quarter showed a diminishing trend with a weighted average price of PhP4.12/kWh in April which decreased to PhP3.97/kWh and PhP3.95/kWh in May 2020 and June 2020, respectively. Such reduction in the weighted average prices manifests a strengthened competition in the CREM.

"The increased participation of contestable customers in the Contestable Retail Electricity Market and the diminishing trend in the prices being offered by Retail Electricity Suppliers is a silver lining in the midst of this COVID-19 pandemic.  This positive development stimulates competition among Retail Electricity Suppliers and will entice more contestable customers to shift to these electricity providers", ERC Chair Devanadera concluded.

No Free Covid Vaccine to Politicians

REP. LAWRENCE "LAW" H. FORTUN
Agusan del Norte 1st District
Member for the Minority,
Committee on Human Rights, Committee on Justice
One of House Authors, Crushing COVID-19 Act (HB 6865)
A lawyer by profession | Mobile number 09177292437

Mabuting ngayon pa lang magkaliwanagan na

NO FREE VACCINES, SPECIAL TREATMENT
FOR ALL GOVERNMENT OFFICIALS

[From division chief rank to highest-ranking in government]

Sa free vaccines for 20 million Filipinos, hindi dapat kasama kahit sinong opisyal ng gobyerno at kanilang pamilya, elected man o appointed o career official na may ranggong division chief pataas hanggang Pangulo.

Maging mabuting ehemplo po dapat tayo sa pagkakataong ito.

Personal na gastos dapat nila ang kanilang COVID-19 vaccine. Matataas ang kanilang sweldo at income, so kaya nilang magpabakuna sa pribadong sektor gamit ang sariling pera.

Puro mahihirap ang barangay health workers at kasama sila sa vulnerable sectors, so dapat kasama sila sa free vaccines for the  20 million Filipinos.

Nakasaad na sa House Resolution 6865 on PCR Testing ang listahan ng mga vulnerable sectors na dapat bigyan ng prayoridad sa free vaccines, pero dapat minus diyan ang mga government officials na Salary Grade 24 pataas.

Para naman sa mga hindi mabigyan ng free vaccines, nariyan dapat ang PhilHealth para sa partial subsidy sa mga middle income households, karaniwang empleyado, at informal workers. (END)