00:00The Securities and Exchange Commission revokes the registrations of two Diskaya-owned firms for failing to disclose beneficial ownership information.
00:09In resolutions dated November 26, the SEC canceled the certificates of incorporation of St. Timothy Construction Corporation and St. Gerard Construction General Contractor and Development Corporation.
00:22The two firms were also ordered to pay a penalty of 2 million pesos each.
00:26Their directors were further disqualified from being a director, trustee, or officer of any corporation for five years.
00:33The SEC cites a Senate Blue Ribbon Committee hearing on September 1 when Sarah Diskaya admitted she was the owner of St. Timothy and St. Gerard.
00:41The SEC notes that Diskaya's involvement was not disclosed in both companies.
00:46Diskaya said in April that she had divested from St. Timothy in 2018.
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