8990, Urban Deca settle P27-M finehome/Business/Corporate News/8990, Urban Deca settle P27-M fineLISTED 8990 Holdings Inc. said on Friday it paid the P27.11-million fine ordered by the Philippine Competition Commission (PCC) for imposing an exclusive internet-access deal on the residents of one of its projects. “As of date, the company has fully settled such administrative fine,” the property firm said in a disclosure. On October 2, the competition watchdog directed 8990 Holdings and its subsidiary Urban Deca Homes Manila Condominium Corp. to pay the penalty within 30 days and comply with settlement agreements. Although the case stemmed from complaints of residents in Urban Deca Manila in Tondo, the terms of settlement apply to eight other Urban Deca projects in Mandaluyong, Muntinlupa, Bulacan, Cavite, Iloilo and Cebu. 8990 applied for settlement in August.

Source: Manila Times October 12, 2019 02:48 UTC