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The Securities and Exchange Commission Cebu Extension Office (SEC-CEBEO) reported on Wednesday that 30,197 active or registered companies are currently operating in Central Visayas.
SEC-CEBEO Director Sheara L. Lupango-Tamayo stated that the data was accurate as of September 2024.
These companies include 21,540 stock corporations, 3,728 non-stock corporations, and 4,872 partnerships.
She also disclosed that 3,042 companies were newly registered between 1 January 1 and 31 October 2024.
However, Lupango-Tamayo expressed concern about the massive number of corporations facing compliance issues with the SEC or those failing to submit annual reports.
“In February 2024, a total of 117,885 companies were suspended by the Commission, 5,115 of which fall under the jurisdiction of the Cebu Extension Office,” she revealed.
She stressed the importance of adhering to reportorial requirements, warning that failure to submit annual reports three times consecutively or intermittently within five years could lead to a corporation being classified as delinquent.