The Securities and Exchange Commission has revoked the registration of Suhail Medical Center, Inc. for unauthorized solicitation of investments from the public.
Suhail Medical Center has been soliciting investments from the public worth P1.06 million for the co-ownership seat to its supposed hospital in Calamba, Laguna. Investors also have the option to purchase half a seat worth P550,000. As a form of security, investment contracts must be registered with the SEC before they can be sold or offered within the Philippines, pursuant to Section 8 of the Securities Regulation Code.
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