• About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
Wednesday, November 29, 2023
Invest Daily Pro
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Politics
  • Editor’s Pick
No Result
View All Result
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Politics
  • Editor’s Pick
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Forex

SFA Semicon told to settle P1.5-M fine in case vs OMB

by
August 25, 2022
in Forex
0
SFA Semicon told to settle P1.5-M fine in case vs OMB
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

SFA Semicon Philippines Corp. disclosed on Thursday that it was told to settle an administrative fine of P1.5 million following the receipt of a resolution from the Optical Media Board (OMB).

Under the case of OMB versus SFA Semicon or Administrative Case No. 2021-04-0177, the company was tried for alleged noncompliance with its licensing requirements under Republic Act (RA) No. 9239 or the Optical Media Act of 2003.

On June 17, 2021, SFA Semicon submitted a position paper ad cautelam stating that its blank memory chips, memory modules, and memory cards are neither optical media nor magnetic media devices.

According to RA 9239, optical media refers to devices containing sounds, images, and/or software code that has been stored, either by mastering or replication that may be accessed and read using a lens scanning mechanism employing a high-intensity light source.

A magnetic media device refers to a storage device characterized by a base, coated with ferric oxide powder, in which visual information or software code may be stored including but not limited to magnetic tapes, cassettes, video tapes, diskettes, and floppy discs.

SFA Semicon further said that since its blank memory chips, modules, and cards are neither of the two stated media, it is not regulated under RA 9239.

The OMB resolution, which was received by SFA Semicon on Tuesday, states that the company has 30 days upon receipt to settle the P1.5-million administrative fine. It also sets a 15-day period to complete registration and licensing requirements with the OMB.

“SSP will take the necessary or appropriate actions related to this resolution,” the company said in its disclosure on Thursday.

On the stock market, SFA Semicon shares climbed by 2.74% or P0.04 to P1.50 apiece. — Justine Irish D. Tabile

ShareTweetPin

Related Posts

Secrets of Success: Branwell Moffat,  Founder and Director CX Consulting
Forex

Secrets of Success: Branwell Moffat,  Founder and Director CX Consulting

November 29, 2023
Argentina’s Milei seeks foreign policy, IMF reset in Washington trip
Forex

Argentina’s Milei seeks foreign policy, IMF reset in Washington trip

November 29, 2023
Countries urged to curb factory farming to meet climate goals
Forex

Countries urged to curb factory farming to meet climate goals

November 29, 2023
Second-hand shopping a $1-bln-plus business for Amazon in Europe
Forex

Second-hand shopping a $1-bln-plus business for Amazon in Europe

November 29, 2023
DATEM’s name piques curiosity
Forex

DATEM’s name piques curiosity

November 29, 2023
Uber to partner with London cabbies after decade of dispute
Forex

Uber to partner with London cabbies after decade of dispute

November 29, 2023
Next Post
B.B. King’s guitar, Marilyn photos up for auction in New York

B.B. King’s guitar, Marilyn photos up for auction in New York

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Company Employee Ownership Model Adopted by CRO

September 6, 2023
KUSTO GROUP’S TAMBOUR LEADS ISRAEL’S CONSTRUCTION PROJECTS

KUSTO GROUP’S TAMBOUR LEADS ISRAEL’S CONSTRUCTION PROJECTS

October 23, 2022
Grab-Move It deal falls below threshold for regulatory review

Grab-Move It deal falls below threshold for regulatory review

October 18, 2022
Wilko warns it could run out of cash

Wilko warns it could run out of cash

November 30, 2022
National Debt and the misleading family metaphor: A message to the economic managers and to journalists

National Debt and the misleading family metaphor: A message to the economic managers and to journalists

February 12, 2023
British Airways pilots threaten strike action over pay deal as summer of discontent continues

British Airways pilots threaten strike action over pay deal as summer of discontent continues

July 26, 2022
Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
    • About Us
    • Privacy Policy
    • Terms & Conditions
    • Contact Us
    • Email Whitelisting

    Copyright © 2023 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively InvestDailyPro ) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    No Result
    View All Result
    • About Us
    • Contact Us
    • Email Whitelisting
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Thank You

    Copyright © 2023 SmarterNewsNow. All Rights Reserved.