Calata Corporation: SEC Clears Calata Corp from the Allegations

After the alleged probe against Calata Corporation, its 31-year-old CEO, Joseph Calata, expresses support for the planned reforms in the capital market.

The Securities and Exchange Commission immediately came to investigate the fluctuations in the shares of Calata Corporation after Joseph Calata himself called them. The allegations stated that there was possible price manipulation which caused the rollercoaster movements of the shares.

After four months of investigation, SEC were able to pinpoint the first batch of the shareholders that were involved in the price manipulation. SEC also stated that the Calata Corporation had no involvement in the said issue.

The SEC probe proved that our decision to seek the help of the regulators was both wise and right.
- Says Calata in an interview.

He also expressed his support for the planned reforms in the capital market claiming that such reforms are needed in order to protect the reputation of companies and to encourage more entrants into the capital market.

With the issue at rest, Calata Corporation can now focus on its expansion where they plan to increase the number of its outlets to about 250 using the proceeds from the initial public offering. Calata said the expansion would provide more farmers and agricultural sector entrepreneurs with access to products and technologies.

Calata Introduces New Service for Farmers

It would be no good for everyone if our farms would stop their production, as they are the ones we depend on for our daily needs of food. In fact, more than half of the total of poor Filipinos depend only on agriculture to survive. However, recently, there were findings that the use of incompatible farm inputs, such as fertilizers, have resulted to bigger expenses and reduce harvests for farmers. If this continues, it may not only cause scarcity on harvests but also cause irreparable damage to the soil. Obviously, these will be a problem not only for people who only has farming for a living but also for everyone.

This news was heard by the 31-year-old CEO of Calata Corporation, Joseph Calata. He immediately formulated a solution for this problem and concluded that he would be able to help by building soil testing facilities that he will place on all of his branches and will aim to assist Luzon-based rice and corn farmers.

The soil testing facility will prevent farmers from buying and applying fertilizers that do not fit their farms and which end up reducing productivity and harming the environment
- Calata said in an interview.

With these facilities, it is expected that farmers will be able to generate more savings and raise their income through wise use of farm inputs. The best thing about this service is that it will be free of charge which will really be a big help for farmers as they will be able to avoid wasting their money on farm inputs that are incompatible for their respective farms.

With the continuous growth of the company, it is nice to know that Calata also wants to help other agricultural enterprises starting with farmers. It is safe to say that Calata may be trying to show leadership in the agricultural field as he is trying to help farmers be exposed to modern agricultural technology in order to be more productive.