To prohibit East Asia Capital Corporation from doing business in the Philippines and to place its assets and affairs under receivership

C

OFFICE OF THE DEPUTY GOVERNOR SUPERVISION AND EXAMINATION SECTOR

CIRCULAR LETTER

TO: ALL BANKS AND NON-BANK FINANCIAL iNStiTUTIONS UNDER BSP SUPERVISION

Act), the Monetary Board, in its Resolution No. 834 dated 12 June 2003, decided to: Pursuant to Section 30 of Republic Act No. 7653 (The New Central Bank

M Prohibit East Asia (AEA) Capital Corporation (EACC), an investment house with quasi-banking authority, from doing business in the Philippines and to place its assets and affairs under receivership in accordance with Section 30 of R.A. No. 7653; and

2 Designate Mr. Tomas S. Aure, Jr. as receiver of EACc.

The receivership took effect on 16 June 2003.

ALBERTO V.REYES

Deputy Governor

16 June 2003

MAG-IMPOK SA BANGKO

MAYNILA, PILIPINAS 1004 . Tel No. 524-70-11 trunkline -'URL: www.bsp.gov.ph - e-mail: [email protected]