Marcventures Holdings [MARC 0.73, up 1.4%; 17% avgVol] [link] said that Augusto Serafica Jr. has been elected as its new president. Mr. Serafica has been a director of MARC since 2013, and at the time of his election, was the chairman of the board’s investment committee. MARC is owned and controlled by President Marcos’s cousin and current House Speaker Martin Romualdez. The company has significant mining interests in nickel, which it exports to China.
MB bottom-line: For a lot of young investors, their only touchpoint with Mr. Serafica will be his leadership of Premiere Horizon Alliance [PHA 0.18 unch; 144% avgVol] that lead to its calamitous entanglement with Marvin Dela Cruz and the SquidPay gang. I’ve covered that trainwreck more than I’d care to admit already and I’m still not any closer to understanding what has happened or who is to blame. So, is this a good thing or a bad thing for MARC shareholders? For anyone who owns this stock, the answer to that question will probably depend on why you purchased it in the first place. If you bought because MARC’s a crony stock that could (in theory) dramatically benefit from a Marcos government, then the election of Mr. Serafica (who holds positions in other Romualdez-owned listed companies) probably doesn’t change anything about the inputs that led you to this holding.
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