+ Follow BOBBY CAF Tag
BOBBY CAF
Array
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[results] => Array
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[0] => Array
(
[ArticleID] => 314911
[Title] => Lots of spirit in Boracay
[Summary] => Asian Spirit chairman Noel Oñate said Boracay had the most spectacular New Year happening with a fabulous fireworks display especially coming from the Waling-Waling Hotel in cooperation with Asian Spirit. Manila’s Who’s Who in high society - were all in Bora to celebrate the New Year with lots of glitz. Diplomats, some showbiz celebs and society-page regulars joined the beach New Year’s bash. For sure, lots of spirits were consumed, but as Spybiz informants reported, the "hard stuff" was also in abundance giving many "societs" a head.
[DatePublished] => 2006-01-03 00:00:00
[ColumnID] => 135725
[Focus] => 0
[AuthorID] => 1730160
[AuthorName] => S.A. Maguire
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 313895
[Title] => P200-B motive
[Summary] => Pre-need insurance companies are elated over the House of Representatives’ approval of Resolution No. 1049 urging the Securities and Exchange Commission (SEC) to suspend the implementation of the Actuarial Reserve Liability (ARL). Based on a study prepared by the USAID-funded Accelerating Growth Investment and Liberalization with Equity (AGILE), pre-need players were complaining that they were not consulted and that the ARL was arbitrarily implemented by the SEC as the new method of computing liabilities of pre-need companies.
[DatePublished] => 2005-12-27 00:00:00
[ColumnID] => 135725
[Focus] => 0
[AuthorID] => 1730160
[AuthorName] => S.A. Maguire
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 293984
[Title] => CAP needs P7B to get back its dealership license
[Summary] => College Assurance Plan Phils. Inc. (CAP) would need to infuse P7 billion into its trust fund to get back its dealership license and avert the liquidation of its assets, a top official of the Securities and Exchange Commission (SEC) said over the weekend.
[DatePublished] => 2005-08-29 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 293120
[Title] => CAP expects fresh funds by September
[Summary] => College Assurance Plan Phils. Inc. (CAP) is holding talks with several groups of foreign investors, including a Hong Kong-based company, for possible equity infusion as it expects new funds to come in by September, a top company official said.
CAP first vice-president Bobby Café said the pre-need firm expects to receive $4 million a year over a period of five years from St. Augustine, a humanitarian foundation based in Europe. In exchange, CAP will issue a bank-to-bank authenticated message of an asset safekeeping receipt over its Metro Rail Transit (MRT) bonds.
[DatePublished] => 2005-08-24 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 288436
[Title] => SEC mulls charges against CAP for violations of pre-need rules
[Summary] => On top of its financial problems, College Assurance Plan Philippines Inc. may face criminal and administrative charges for violation of pre-need rules and the Revised Penal Code, a Securities and Exchange Commission (SEC) official said yesterday.
The official, who requested not to be named, said that aside from taking over the management of CAP, the corporate watchdog is considering other options, including imposing administrative and/or criminal charges against the pre-need firm.
[DatePublished] => 2005-07-27 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 284468
[Title] => SEC en banc okays creation of CAP management committee
[Summary] => The collegial body of the Securities and Exchange Commission (SEC) has approved the proposal for a management takeover of pre-need firm College Assurance Plan Philippines Inc. (CAP) after careful review of the terminal report prepared by an SEC oversight committee.
An SEC official said the commission en banc, the SEC’s decision-making body, affirmed the oversight committee’s recommendation that a full-time management committee (mancom) be formed to oversee the operations of CAP and its affiliates such as Comprehensive Annuity Plans and Pension Corp. and CAP Health.
[DatePublished] => 2005-07-02 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 279810
[Title] => Lawmaker blames SEC for downfall of pre-need firms
[Summary] => Rep. Harlin Abayon has blamed the new rules being implemented by the Securities and Exchange Commission (SEC) to compute the actuarial reserve liability (ARL) for the downfall of several pre-need firms.
[DatePublished] => 2005-05-31 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 279118
[Title] => CAP: We have less than P100 M in cash
[Summary] => An official of the beleaguered pre-need firm College Assurance Plan (CAP) admitted yesterday that his company had "less than P100 million in cash."
CAP vice president Bobby Café told the House oversight committee that his company, which built its fortune selling educational plans, reported as of March this year, "we had P8.5 billion in assets, contrary to reports that we had only P4.7 billion."
[DatePublished] => 2005-05-26 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097047
[AuthorName] => Jess Diaz
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
)
[8] => Array
(
[ArticleID] => 275739
[Title] => CAP defends investments, downplays ‘nuisance suit’
[Summary] => College Assurance Plan Phils. Inc. defended yesterday the investments it has made in Bank of Commerce, the Metro Rail Transit Corp. and Camp John Hay, among others, saying all these had the consent of the Securities and Exchange Commission (SEC).
At the same time, CAP branded as a "nuisance suit" the complaint filed by lawyer Maricel Lopez accusing the pre-need firm’s officers and directors of siphoning funds of the company to bankroll the operations of the Sobrepeña family-owned companies.
[DatePublished] => 2005-04-29 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[9] => Array
(
[ArticleID] => 275584
[Title] => CAP pays P424 million in tuition
[Summary] => College Assurance Plan (CAP) has paid out almost P424 million in tuition to planholders nationwide, despite the non-renewal of its dealer’s license by the Securities and Exchange Commission (SEC).
The SEC withheld renewal of CAP’s licenses to sell new plans in September 2004 when the existing license expired.
[DatePublished] => 2005-04-28 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
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