SunPhil helps SEC complete first
phase of R280-M online plan
Sun Microsystems Philippines (SunPhil) announced that the
Securities and Exchange Commission (SEC) has completed "SEC
iView," an online service that allows the general public and
private entities to view and print business documents included
in the regulatorís database for a fee.
SunPhil plays a major role in the online project, having been
tapped to provide Sun servers which will be used by the SEC for
mission-critical applications related to iView, Cynthia R. Mamon,
SunPhil country manager said.
The executive said the SEC has recognized SunPhilís proven track
record in the enterprise and public sector space, affirmed by
the number of Sun machines that the SEC will be using.
iView is part of the SECís Compliance Monitoring and Enforcement
System or what it calls the SEC iReport, an ambitious plan to
allow companies to access all SEC services online.
The SEC iReport, a three-year project worth R128 million, has
five major modules including iView.
Arturo M. San Gil, director of the SECís economic research and
information division, said the SECís database in 2004 is
currently accessible via iView.
"But we eventually plan to convert data in the last five years
in iView," San Gil said.
The official said the SEC initially expects credit investigators
and banks to avail of the service.
"The service basically makes it easier for the public and
private sectors to view corporate and business-related documents
without having to queue at the SEC," San Gil said, adding that
iView is expected to benefit the 500 to 600 inquiries that the
SEC handles daily.
He said SEC will be charging the same service fees for iView
"We cannot just adjust the charges. The fees for iView will be
the same as that of our Ďtraditionalí services," the official
An individual for example can buy a prepaid card that can be
used for i-View services which are pegged at R2 per minute and
R5 per page that is printed. Companies are charged R20 per
minute of viewing and the same charges for printing.
The iView application was developed by Solutions Exchange, Inc.
a Filipino-owned solutions developer catering mostly to banks.
Edwin Lopez-Vito, Solutions Exchange COO meanwhile said this is
the first time for the company to work on a government project.
He added that the firm is currently developing the other modules
of iReport and will roll out other value-added services "soon."
"There are five modules for the SEC i-Report project. Very soon,
the system will allow for text (simple messaging system or SMS)
payment for the access charges," he said.
By JOEL D. PINAROC