DV Boer shakes off red flag, pays P3M in settlement deal with SEC
Agriculture entrepreneur DV Boer lauded the recent ruling of the Securities and Exchange Commission (SEC) as it lifted its advisory on the company’s “Paiwi” program.
“This will exonerate DV Boer in the eyes of our partners, investors, believers, supporters and the general public because no less than the SEC, the government agency tasked to oversee big businesses, has already cleared us without any exceptions,” said Dex Villamin, founder and president of the company which was established in 2014.
“Our Paiwi program was designed to genuinely help boost Philippine agriculture thru organized livestock raising,” he added.
In its Jan. 31 order, the SEC has lifted its investor warning against DV Boer Farm International Corp. after it agreed on the company’s P3.015-million settlement offer.
The SEC has also approved the settlement from the farming investment company and has received a partial payment of P300,000. The remaining P2.715 million must be paid within the next three months.
The SEC warned against the “Paiwi” program of the company back in April 2019 through an advisory.
Paiwi is a widely-accepted Filipino backyard farming wherein a person who owns livestock such as pig, chicken, goat, cattle, hires a neighbor or close associate to grow and nurture it until such time that it is ready to be sold, milked for its egg/offspring or slaughtered for its meat.
DV Boer offered the unique Paiwi business program to help traditional poultry farms and livestock growers to earn more and develop their farms into efficient, profit-oriented ventures.
Aside from helping them earn more and produce more, DV Boer also educates them on how to run the business properly by providing new technology and best practices.
Villamin said DV Boer is hard put in coming up with the funds needed to keep the business going since the advisory took effect. Their bank accounts were closed due to the SEC advisory. The banks also did not accept new accounts in the name of the company, naturally, their operations were greatly affected by these developments.
The situation became worse when Taal Volcano erupted in early January as most of their partner farms located in Batangas cannot collect free forage around the area due to ashfall.
“Our main concern is not only to revive the business but to grow it and to continue to fulfill our obligations to our partners, people, and communities. We promise our stakeholders that we will continue to enhance and speed up our operations and livestock production through the application of new technologies,” he noted.
DV Boer initially started as a successful breeding farm in Batangas of high quality, full-blooded Boer goats from Australia. Its early advocacy was to educate and assist small farmers in goat farming.
The company launched the “Goat Program for Beginners”, which teaches about the rudiments of goat farming and how to be successful at it. It was recognized as the first commercial goat stud farm.