+ Follow COLLEGE ASSURANCE PLAN PHILS Tag
COLLEGE ASSURANCE PLAN PHILS
Array
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[results] => Array
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[0] => Array
(
[ArticleID] => 334906
[Title] => 100,000 college planholders may not be able to enroll their kids this year — SEC
[Summary] => More than 100,000 college planholders may not be able to enroll their children when school reopens this year after four major pre-need firms offering traditional plans have asked the courts for a suspension of payments, the Securities and Exchange Commission (SEC) said yesterday.
In an interview over radio station dzMM, SEC chairwoman Fe Barin said the estimate was based on figures submitted by the four pre-need firms to the corporate watchdog.
[DatePublished] => 2006-05-04 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Headlines
[SectionUrl] => headlines
[URL] =>
)
[1] => Array
(
[ArticleID] => 312537
[Title] => CAP sees approval of its rehab plan by local court
[Summary] => College Assurance Plan Phils. Inc. (CAP) is confident of securing the local court’s approval of its proposed rehabilitation plan following the favorable rulings obtained by other cash-strapped pre-need firms.
"With the approval of the rehabilitation plans of Pacific and Platinum Plans, I don’t see any reason why CAP should be any different," CAP, director Robert John Sobrepena said.
[DatePublished] => 2005-12-17 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 307893
[Title] => CAP losses widen by 74% to P4.52B in first nine months
[Summary] => College Assurance Plan Phils. Inc. (CAP) widened its net loss to P4.52 billion in the nine months ending September this year, up 74 percent from the P2.59-billion loss incurred over the same period in 2004.
In a financial report filed with securities regulators, CAP said its deficit also increased to P13.25 billion from only P7.49 billion a year earlier.
The pre-need firm’s share in the net losses of its subsidiaries amounted to P238.08 million while operating expenses reached P3.28 billion.
[DatePublished] => 2005-11-22 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 298597
[Title] => SEC opposes CAP petition for rehab
[Summary] => The Securities and Exchange Commission (SEC) is opposing the petition for rehabilitation filed by College Assurance Plan Phils. Inc. (CAP) on the ground that the pre-need firm is already insolvent.
SEC chairman Fe Barin said, in a radio interview, that the agency is now preparing its opposition to CAP’s petition for corporate rehabilitation which it hopes to file this week or next week.
Barin said CAP can no longer be rehabilitated since its liabilities have already exceeded its assets.
[DatePublished] => 2005-09-26 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 295415
[Title] => SEC nod not needed in CAP check payments
[Summary] => The Securities and Exchange Commission (SEC) said planholders of College Assurance Plan Phils. Inc. (CAP) no longer need to secure an endorsement from the corporate watchdog agency before getting their check payments from the cash-strapped pre-need firm.
The SEC issued this statement in light of reports that some planholders of CAP had been advised by the pre-need firm’s personnel to seek the endorsement first from the SEC to be able to receive their check payments.
[DatePublished] => 2005-09-07 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 295156
[Title] => SEC doubts CAP’s ability to nurse itself back to financial health
[Summary] => The Securities and Exchange Commission (SEC) is challenging College Assurance Plan Phils. Inc. (CAP) to show proof why it can still be rehabilitated when its liabilities already exceed its assets.
"I have not seen their basis why they can still be rehabilitated," SEC chairman Fe Barin said when asked whether CAP can still nurse itself back to financial health.
[DatePublished] => 2005-09-05 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 294775
[Title] => CAP seeks 10-year restructuring of P2.9-B loans
[Summary] => Pre-need firm College Assurance Plan Phils. Inc. (CAP) is seeking a 10-year restructuring of its P2.9-billion loan obligations to creditors as part of its business recovery program submitted to the Makati Regional Trial Court.
[DatePublished] => 2005-09-03 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => 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] =>
)
[8] => Array
(
[ArticleID] => 293323
[Title] => SEC tightens watch over pre-need firm
[Summary] => Another pre-need firm has come under fire from the Securities and Exchange Commission (SEC) for its failure to submit pertinent information regarding its financial health, fuelling speculations it is facing liquidity problems like what other firms that sold open-ended plans are presently experiencing.
Tightening its noose on errant firms, the SEC has issued an order directing pre-need firm TPG Corp. to explain why no administrative sanctions should be imposed against it for failing to submit its actuarial valuation report (AVR) and annual financial statements.
[DatePublished] => 2005-08-25 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[9] => 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] =>
)
)
)
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