“We are currently studying the order and shall exhaust all remedies available to us under the law,” the company said in a statement.
“We assure our stakeholders and the public of our commitment to address the matter responsibly and resolve this concern as soon as possible,” it added.
The ERC earlier revoked the license of SIPCOR, a key sponsor of Villar’s listed power-themed real estate investment trust Premiere Island Power REIT Corp. (PREIT), after months of outages.
This adds to mounting scrutiny of Villar’s empire, with Prime Water Infrastructure Corp. under government review and the trillion-peso Villar Land being probed for allegedly misleading disclosures.
—Edited by Miguel R. Camus
