SEC-Cebu: Corporations, partnerships up 5% in Q2

CEBU, Philippines – The Cebu office of the Securities and Exchange Commission noted a 5% increase in the registration of corporations and partnerships in the second quarter of 2015.

Official data obtained by The FREEMAN showed yesterday that SEC-Cebu registered 938 corporations and partnerships from April to June this year, up 4.6% from 897 last year.

However, the 9% drop in registration recorded in the first quarter slightly dragged down the total registration in the first half of the year by 0.1%.

Registration in the first semester of 2015 stood at 1365 from 1366 in the same period last year.

In the three months to June this year, registered stock corporations grew 2% to 610 from 597 last year; while registered non-stock corporations rose 22% to 252 from 207.

However, registered partnerships decreased to 76 during the April-June period, down 18% from 93 in the comparable period last year.

In an earlier interview, SEC-Cebu Director Lindeza Gavino said the improving investor confidence has contributed to the increase in registering corporations.

Gavino pointed out that the upcoming election is also crucial, saying that the political landscape will surely affect investor confidence.

The SEC official further noted that there has also been a rise in the number of existing corporations increasing their authorized capital stock.

Stock firms are those that have shareholders while non-stock ones are those that have no owners represented by shares of stock.

In 2014, SEC Cebu registered 1,944 corporations and partnerships, up 8% from 1,802 a year earlier.