The Central Bank of the Philippines issued a circular letter to all Authorized Agent Banks and their subsidiary or affiliate foreign exchange corporations (AAB-forex corps) advising that certain Bangko Sentral Registration Documents (BSRDs) covering inward foreign direct investments have been reported lost. The documents have been applied for replacement and should not be honoured if found and presented for purchase of foreign exchange for capital repatriation or remittance of earnings. The notice identifies six BSRDs related to common shares involving non-resident investor LG Electronics, Inc. and investee firms LG Collins Electronics Manila, Inc. and LG Collins Electronics Phils. Inc.: (DE/S) 99-00197 (315,621 shares), (DE) 2000-037 (99,312 shares), A006068-(DE/S) (202,475 shares), (DE) 96-00022 (1,680 shares), (DE) 96-00158 (18,320 shares), and (DE) 96-00206 (34,600 shares). The instruction is issued pursuant to Section 38 of the Manual of Regulations on Foreign Exchange Transactions, as amended.
Central Bank of the Philippines 2026-03-16
Central Bank of the Philippines instructs authorized agent banks not to honour specified lost Bangko Sentral registration documents for inward foreign direct investment
The Central Bank of the Philippines issued a circular to Authorized Agent Banks and their foreign exchange subsidiaries about lost Bangko Sentral Registration Documents (BSRDs) for inward foreign direct investments. Documents involving LG Electronics, Inc. and its investee firms should not be honored for foreign exchange transactions, aligning with Section 38 of the Manual of Regulations on Foreign Exchange Transactions.