The past three years have seen the proliferation of investment schemes being offered by several small fuel companies promising high rates of return with little risk to investors.

This prompted the Securities and Exchange Commission to raise alarm over the influx of gasoline stations luring the public to invest in their co-ownership or partnership programs and earn guaranteed income.

Despite the warning issued by the SEC, seven fuel firms continue to actively solicit investments from the public online namely PetroMobil Corp., iFuel, Flex Fuel, Dual Fuel Philippines, G28 Petroleum Corp., Marz Fuel and Hera Fuel.

Investors can co-own a gas station for a minimum amount of P300,000. “They just need to place their money, sign the contract then wait for the quarterly distribution of profits,” the SEC said.

The SEC said it has a list of companies that are allowed to offer and sell securities. “Investments not included in the list are deemed to be unregistered and therefore not authorized to be offered to the public.”

The corporate regulator has advised the public to exercise caution in “dealing with these gasoline companies or persons purporting to be their representatives.”

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SEC reiterates warning against small gas stations’ co-ownership, franchise programs
Source: Filipino Daily Inquirer