+ Follow COLLEGE ASSURANCE PLANS INC Tag
COLLEGE ASSURANCE PLANS INC
Array
(
[results] => Array
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[0] => Array
(
[ArticleID] => 512946
[Title] => CAP in talks to sell 10% stake in Bank of Commerce
[Summary] => The College Assurance Plans Inc. is in talks with a US-based hedge fund and a local group to sell its nine or 10 percent stake in Bank of Commerce as part of its fund-raising program aimed at meeting the company’s obligations to its planholders.
[DatePublished] => 2009-10-12 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 312264
[Title] => Roxas pushes stricter rules for pre-need firms
[Summary] => Sen. Manuel Roxas is pressing for stringent changes in the rules governing pre-need firms to avoid financial problems and regulatory issues now hounding the industry.
Roxas, chairman of the Senate Committees on Trade and Commerce and on Economic Affairs, underscored the need to review the investment portfolio mix for trust funds to ensure the liquidity and capital growth of pre-need companies.
[DatePublished] => 2005-12-15 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 288136
[Title] => Congress mulls tax break for ailing pre-need firms
[Summary] => Congress is considering giving distressed pre-need firms some tax relief to alleviate them of their financial burden and at the same time ensure the protection of the investing public.
An SEC official said lawmakers are studying the possibility of giving tax incentives to pre-need firms offering educational plans.
Lawmakers underscored the need to create a legislation that will address the concerns of ailing pre-need firms in view of the collapse of the Yuchengco-owned pre-need firm Pacific Plans Inc. and the huge trust fund deficiency of College Assurance Plans Inc.
[DatePublished] => 2005-07-25 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 275874
[Title] => Pre-need firms brace for stiffer rules in wake of present woes
[Summary] => The pre-need industry is bracing itself for stiffer regulations in the wake of financial problems encountered by Pacific Plans Inc. and the College Assurance Plans Inc. (CAP).
"We are expecting such new rulings as high capital base requirements, more transparency in the trust funds, and stiffer rules on the use of the premiums paid by planholders," a top executive of a pre-need company who asked not to be named, said.
[DatePublished] => 2005-04-30 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097672
[AuthorName] => Ted P. Torres
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 274391
[Title] => Senate seeks sanctions vs erring pre-need officials
[Summary] => The Senate has proposed a bill imposing penal sanctions on officers of pre-need firms who engage in self-dealing using the trust fund meant for the planholders.
[DatePublished] => 2005-04-18 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1500820
[AuthorName] => Marvin Sy
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 273849
[Title] => SEC official backs CAP lobby for changes in actuarial liabilities
[Summary] => College Assurance Plans Inc. (CAP) has found an ally in Securities and Exchange Commission (SEC) associate commissioner Jesus Martinez who is likewise pushing for changes in the actuarial treatment of pre-need trust funds.
In a letter to Sen. Edgardo Angara, chairman of the Senate Committee on Banks, Financial Institutions and Currencies, Martinez said the Pre-need Uniform Chart of Accountants (PNUCA) that the SEC had formulated may not be an effective way of ensuring the true financial health of pre-need companies.
[DatePublished] => 2005-04-14 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 235648
[Title] => Sales of pre-need firms down 15% in Jan-Nov
[Summary] => Sales of pre-need companies dropped by 15 percent to P30.02 billion in the first 11 months of 2003, from P35.3 billion the previous level, the Securities and Exchange Commission (SEC) reported over the weekend.
Likewise, the number of plans sold declined by 12.5 percent to 487,684 last year compared with 557,642 units a year earlier.
The decline was attributed to the current difficult environment, the unstable foreign-exchange rates, and the uncertainties in the political front.
[DatePublished] => 2004-01-19 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[7] => Array
(
[ArticleID] => 223256
[Title] => Sales of pre-need firms down 24% in 1st 8 mos
[Summary] => Sales of pre-need companies dropped by 23.72 percent in the first eight months of the year, mirroring low investor confidence and the slowdown in the economy.
Data collated by the Securities and Exchange Commission’s non-traditional securities department showed that the value of plans sold during the period January to August this year fell to P21.09 billion from P27.65 billion.
The number of units sold likewise dropped by 19.08 percent to 348,849 from the previous year’s 431,093.
[DatePublished] => 2003-10-06 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[8] => Array
(
[ArticleID] => 219360
[Title] => Pre-need firms’ sales down 22.5% in first seven months
[Summary] => Reflecting poor economic conditions, sales of pre-need companies fell 22.5 percent in the first seven months of the year to P18.59 billion from P24 billion the same period last year.
Based on a report from the Securities and Exchange Commission (SEC) the number of units sold for the period January to July this year went down by 14.4 percent to 311,699 from 364,081 the previous level.
The decline was attributed to the current difficult environment, the unstable foreign-exchange rates, and uncertainties in the political front.
[DatePublished] => 2003-09-01 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[9] => Array
(
[ArticleID] => 216935
[Title] => Pre-need industry seen to consolidate
[Summary] => Major players of the pre-need industry foresee further consolidation with five to seven players taking a leave or altogether breaking camp. There are just a little over 40 players from a peak of around 100 in the ’90s.
Sources within the Securities and Exchange Commission (SEC) said that at least five more players would most likely be de-listed or deactivated while there would be some realignment in the top 20 players.
[DatePublished] => 2003-08-12 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Banking
[SectionUrl] => banking
[URL] =>
)
)
)
abtest
October 6, 2003 - 12:00am
August 12, 2003 - 12:00am
