Search for Cebu businessman Peter Lim

Cebu City police fail to serve an arrest warrant on businessman Peter Lim, whom Justice Secretary Menardo Guevarra has said is “supposed to be in the country” according to Immigration records.

According to reports, police went to Lim's residences in Banilad and Kasambagan but did not find him there.

LATEST: CIB Deputy Chief Henrix Bancoleta said they will continue to monitor Cebu-based businessman Peter Lim who was not in his residence when the police served the warrant of arrest against him in Sto. Niño Village, Brgy. Banilad this afternoon | via Ermida Moradas pic.twitter.com/2dVA1qEw0E

— The Freeman (@TheFreemanNews) August 20, 2018

Lim faces two counts of violations of Section 26 (B) in relation to Section 5, Article II of the Comprehensive Dangerous Drugs Act of 2002.

WATCH: Police serve warrant of arrest against Cebu-based businessman Peter Lim who has been charged conspiring to trade drugs, at his residence in Brgy. Banilad, Cebu City | via Ermida Moradas pic.twitter.com/mBfyqiezc2

— The Freeman (@TheFreemanNews) August 20, 2018

Cebu police are serving an arrest warrant against businessman Peter Lim, who has been indicted on drug charges, The Freeman reports.

Aside from the warrant for his arrest, a Makati court has also issued a hold-departure order against Lim to keep him from leaving the country.

WATCH: Police serve warrant of arrest against Cebu-based businessman Peter Lim who has been charged conspiring to trade drugs, at his residence in Brgy. Kasambagan, Cebu City | via @camilleTFBanat pic.twitter.com/Fpw00DX2DA

— The Freeman (@TheFreemanNews) August 20, 2018

Police interviewed during the service of the warrant said they will check properties and establishments that Lim owns to see if the drug suspect is there. The service of the warrant is being done simultaneously across the city.

"Actually, I have no idea how many properties he has," an officer interviewed by The Freeman says. He says he is only aware of those that are in his area of responsibility.

WATCH: Police on the service of arrest warrant against Cebu-based businessman Peter Lim at his residence at Brgy Sto. Niño, Cebu City this afternoon | via @camilleTFBanat pic.twitter.com/ESTfCoBo9e

— The Freeman (@TheFreemanNews) August 20, 2018