CIPA set to unveil ‘hidden investor’ database
Friday, March 14, 2025 | 670 Views |
Pego Aisam. PIC MORERI SEJAKGOMO
The Online Business Registration System (OBRS) will be taken down from March 11 to 18, as part of the upgrading to the new system.
Senior CIPA officials told BusinessWeek that besides the eagerly anticipated changes around beneficial owners, the new OBRS will introduce enhanced features aimed at improving transparency, ensuring compliance, and strengthening the fight against financial crimes such as money laundering.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...