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RNG Bank Salary Loan Table for DepEd Teachers

Salary Loan Table - RNG Coastal Bank RNG Bank offers salary loan for permanent DepEd teaching and non-teaching staff thru Automatic Payroll Deduction System (APDS). Features: 📍LOW INTEREST RATE 📍LOAN AMOUNT UP TO 500,000 📍5 YEARS MAXIMUM LOAN TERM 📍NO HIDDEN CHARGES 📍NO NEED TO GO TO THE OFFICE A Bank that is built with trust and integrity and committed to provide quality and safe banking services to its existing and future clients, RNG Coastal Bank, Inc . is a banking institution established in the year 1974. The Bank has 15 operating branches in the Visayas, 11 in Cebu and 4 in Bohol. Providing various financial products and services to its clients for almost 50 years, RNG Coastal Bank remains strong and continuously grows its number of branches to reach more Filipinos. Here are the branches of RNG Coastal Bank: RNG Coastal Bank Head Office Cor. Cabancalan Road, Talamban, Cebu City 6000 Labangon Branch Punta Princesa, (Labangon) Cebu City Asturias Branch Poblacion, Asturias, Ce...
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SEC Imposes P560 Million Fine on Abra Mining for Massive Fraud

SEC Drops the Hammer: P560 Million Fine for Abra Mining in Massive Fraud Case”

The Securities and Exchange Commission (SEC) has imposed a staggering fine of more than P560 million on Abra Mining & Industrial Corporation (AR), its directors, officers, transfer agent, and certain stockholders. The fine is a result of unauthorized and fraudulent trading of unissued and unlisted shares from 2015 to 2019.

In a decision promulgated on April 8, the SEC Markets and Securities Regulation Department (MSRD) found AR guilty of violating Section 26 of Republic Act No. 8799, or The Securities Regulation Code (SRC), and Section 61 of Republic Act No. 11232, or the Revised Corporation Code (RCC).

The individuals found liable include AR president James G. Beloy, corporate secretary Amelia G. Beloy, directors Conde Claro C. Venus, Carmelo Rafael D. Tansengco, Premy Ann G. Beloy, and Joel G. Beloy; and former director Belinda T. Gaskell.

In separate decisions, the MSRD also found AR’s transfer agent, Asian Transfer & Registry Corporation, as well as its president Arline B. Adeva, corporate secretary Premy Ann, assistant corporate secretary Joseph M. Acuesta, and treasurer Joel, guilty of violating Sections 26 and 52.1 of the SRC, and Section 36.4.3.2 of the 2015 Implementing Rules and Regulations of the SRC.

Several stockholders of Abra Mining, namely Ferdinand U. Collado, Leila V. Collado, Susan May I. Gacelo, Jubileum Air and Sea Logistics, Inc., and Andrei Vincent Freight Services Corp., were also held liable for violations of Section 26 of the SRC.

The case stemmed from discrepancies in AR shares lodged with Philippine Depositary and Trust Corp. (PDTC), which were in excess of the number of listed, registered, issued, and subscribed shares submitted in the company’s filings with the SEC. Illegal issuances of AR shares totaling 169.05 billion shares covering 474 stock certificates were found to have been made from 2015 to 2019. These illegally issued shares were lodged and traded on the PSE in numerous transactions.

Read Security and Exchange Commission Press Release here.

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