SDG sells AWACS to Philippine regulator

 A company release said that the Asian Development Bank has agreed to pay the cost of the software license and the use of the necessary servers as part of the bank's Technical Assistance Program, aimed to strengthen the SEC's market regulation capability.

 It was also funded in part by the Philippines-Australia governance facility since the latter provided additional hardware to ensure the system's smooth operation.

 SEC chairman Lilia R Bautista said in a release that the system is expected to prevent the repeat of the BW Resources stock market scandal, which nearly caused the collapse of the market in 1999. This will send a message to the brokers that we are looking at them very closely," he added.