SINGAPORE — In an unprecedented move, the Council for Estate Agencies (CEA) has fined a property company and barred it from endeavor any enbloc sale work for one 12 months beginning April 20, after it was found to have breached its obligation as adviser and led to a conflict of interest by offering incentive funds to several householders of Thomson View Condominium in change for his or her backing the development’s collective sale.
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Manila Electric Company (MER) popularly generally known as MERALCO was included in 1919. The acronym MERALCO got here from the company’s unique name the Manila Electric Railroad and Light Company. It is engaged in the distribution and sale of electrical power via its distribution network services in its franchise space. Its market is categorized into 4 sectors akin to residential, industrial, industrial, and streetlights. It is the largest distributor of electrical energy in the Philippines and the only electrical energy distributor that holds electrical distribution within the 31 cities and 80 municipalities over Luzon.
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