business The Manila Times MONDAY


HINMA Corp. is bullish about its prospects next year, which would be driven by the sustainable growth of its business units.


Ramon del Rosario Jr., Phinma president and chief executive, told reporters that the group is looking at a “big” acquisition in Visayas, which would increase its school net- work to five. It already has Araullo University, Cagayan de Oro College Inc., University of Pangasinan and University of Iloilo in its portfolio. “[The acquisition] takes a while because the [school is] owned by families and there’s a lot of emo- tional attachment to it,” said del Rosario, who was recently named the “Management Man of the Year” by the Management Association of the Philippines.


The group aims to grow its stu- dent population to 100,000 from the current 25,000, not just through acquisitions but also through organic growth as well, the Phinma executive said.


Chemrez develops oil spill dispersant


CHEMREZ Technologies Inc. (ChemrezTech), one of the country’s biggest maker of biodiesel and oleochemicals, has developed a 100-percent plant- based oil spill dispersant. In a statement, ChemrezTech


said that its product, BioSolve Spill Rx, was formulated because of the need for a fully organic and non-toxic oil spill dispersant, as well as shoreline and mangrove washing agent, following the Gulf of Mexico oil spill. The worst environmental


disaster in the upstream oil industry, the oil spill gushed out a total of 779 million liters by the time the leaking wellhead was capped in July 15, 2010. About 1.84 million gallons (over 6 million liters) of oil spill disper- sant were used.


In the ensuing cleanup


activities, residents of Louisiana sued British Petrloeum (BP) for using oil dispersant alleged to be four times more toxic than the oil itself. ”Due to the issue of Toxicity,


BP was immediately instructed by US EPA to use oil spill dispersant that are non-toxic similar to BioSolve Spill Rx,” ChemrezTech said. As a result of the toxicity issues of oil dispersant in the Gulf Spill, the Philippine Coast Guard undertook a review of oil spill dispersant previously accredited in the Philippines by using more test procedures and parameters. Many imported brands, including the brand used in the BP Gulf Spill, have reportedly failed the pre-toxicity test. In contrast, Biosolve Spill Rx passed all the Coast Guard tests with flying colors, ChemrezTech said. EUAN PAULO C. AÑONUEVO


On the real estate front, the company would double its prop- erty projects in the market on the back of the robust demand for low-cost housing.


“Our segment of housing is very bullish. So many of the major groups have gone into that segment including Ayala, who in the past to- tally ignored it,” said del Rosario. After launching at least three projects this year, Phinma Prop- erties Holdings Corp. has lined up 6 projects next year, bringing a total of 2,000 affordable units in the market. The property devel- oper expects to double that again to 4,000 by 2012. “People who are renting now


have discovered they can actually buy units by putting the same amount of money every month to units they can eventually own,”


del Rosario said. As for the group’s power genera- tion interests, del Rosario said Phinma is still on board for the first phase of its 54-megawatt wind power project in San Lorenzo, Guimaras. The two wind farms are expected to be operational by 2012. As soon as the guidelines on lev- ies to be imposed on renewable en- ergy are finalized, del Rosario said the firm would “go full blast.” “We’re ready with our feasibility


B 3


D e cember 6, 2010


Phinma keen on acquiring school in Visayas P


doubled to P164.6 million in the first nine months from last year’s P88.8 million. “Part of the skill is providing complete service rather than just GI sheets. Because of our warehouses all over the Philip- pines, we’re able to respond to market demand more quickly,” del Rosario said.


HIMLAYANG PILIPINO PLANS, INC. SYNOPSIS OF THE ANNUAL STATEMENT As of December 31, 2009


ASSETS


studies. We’re just waiting for the feed-in tariff to be set,” he said. The first wind project will have a capacity of 8 megawatts to service Guimaras, an island-province that is importing power from nearby Iloilo. For the long-term, the com-


pany plans to build “more am- bitious” wind projects nation- wide with a combined capacity of 150 megawatts.


Phinma is also bullish about its steel business, which continues to be the driver of the company’s profit. Earnings of Union Galvasteel Corp.


Vista Land secures nod to create new preferred shares


VISTA Land & Lifescapes Inc. has secured regulatory approval to create a new series of preferred shares that will allow more for- eign and local investments in the company. In a disclosure to the Philippine Stock Ex-


change, Vista Land said it has obtained the Securities and Exchange Commission’s (SEC) nod to amend its Articles of Incorporation, reclassifying 1 billion common shares with a par value of P1 per share to 10 billion pre- ferred shares with a par value of P0.10 apiece. As a result, the property firm of Senator Manuel Villar will have an authorized capi- tal stock of P12 billion, divided into 11 billion common shares with a par value of P1 per share and 10 billion voting, cu- mulative, non-participating, non-convert- ible and non-redeemable preferred shares with a par value of P0.10 per share. Preferred shares shall have preference


over common shares in case of liquidation or dissolution of the corporation. Holders of preferred shares shall have no preemptive


right to subscribe to any issue or disposi- tion of shares of any class of the company. The SEC has also approved the expansion of Vista Land’s primary purpose so it can ex- tend loans and guaranties to its direct and indirect subsidiaries and investee-companies. The real estate firm will start building


the P11-billion commercial and lifestyle project in the Alabang-Las Pinas area. About P1 billion will be earmarked to


develop a Lifestyle Center in the Evia mas- ter-planned city, its biggest integrated property project in the South.


Vista Land’s nine-month core earnings rose 16 percent to P2.16 billion because of brisk sales.


The company will launch six to 10 more projects in the fourth quarter with an ag- gregate worth P5 billion, bringing 2,000 units into the market.


Vista Land shares were unchanged at


P3.03 each on Friday. KRISTA ANGELA M. MONTEALEGRE


National rice board formed


MAJOR stakeholders in the rice sector have established a National Rice Board (NRB) to serve as a watchdog for the Aquino ad- ministration’s implementation of rice-re- lated programs.


The board, which aims to improve rice production and increase farmers’ income over the next three years, is composed of national associations of farmers, seed growers, rice traders, local agriculture officers and the re- gional agriculture and fisheries councils. Among the members of the board are


Jaime Tadeo of the National Rice Farmers Council, Trinidad Domingo of Pambansang Koalisyon ng Kababaihan sa Kanayunan, Henry Lim of National Seed Network, Herculano Co of PHILCONGRAINS, Jessica Reyes-Cantos of Rice Watch and Action Net- work (R1), Jesusa Noveda of the League of Devolved Agriculture Personnel and a rep- resentative of the Regional Agriculture and Fisheries Council.


The NRB is tasked to review and con- solidate the stakeholders’ strategy propos- als for rice sufficiency and the Department of Agriculture’s (DA) programs, which in- clude the improvement of the national rice sufficiency program of the government. Dennis Araullo, DA Rice and Corn Pro- gram director, said that the establishment of the NRB was “long overdue” because the corn sector has long established the National Corn Competitiveness Board that engages the de-


businessinbrief


■ ALLIANCE Select Foods International Inc. announced that Harvest All Investment Ltd. has increased its stake in the food company by 16.6 percent through the acquisition of additional 80.122 million common shares. Alliance Select earlier said it plans to diversify its canning business to include non- marine products like fruits and vegetables. KRISTA ANGELA M. MONTEALGRE


■ SUN Cellular has partnered with Facebook to offer “FacebookZero,” which allows users to check their status, read and update news feeds from friends, and post com- ments for free. The telco said charges will only apply when users access external links and photos.


partment on the corn program directions. In a joint statement, Tadeo said they are hopeful that the board will be able to con- tribute to improve transparency in the DA, especially in its rice program. The country continues to lag behind its neighbors while local rice farmers struggle to lift their families out of poverty, Tadeo said. Henry Lim of the Davao Oriental Seed Cooperative and a member of the National Seed Network said he believes that the convergence will bring to fore the real problems of the stakeholders including problems of the seed industry and raise their level of participation in policy and program formulation.


Co of Philcongrains said he was willing to be part of the NRB in order to promote greater coordination among stakeholders. “Hopefully, this will be the start of a partnership in order to truly see a rice-suf- ficient Philippines,” he said. “The DA has been hounded with so


many issues, among them corruption in project implementation and the appropri- ateness of its programs at the ground level. We believe this cooperation will help de- fine the right priorities of the DA programs and plug the holes of government funds delivery and misuse,” said Cantos, Lead Convenor of Rice Watch and Action Network that initiated the formation of the NRB. JAMES KONSTANTIN GALVEZ


Corp.’s long-term foreign currency and local currency ratings, both with stable outlooks.


LAILANY P. GOMEZ


■ PANCAKE House Inc. said Aureos Southeast Asia Fund LLC and Plantersbank Venture Capital Corp. have converted P202.54-million worth of notes into 45.16 million common shares out of the company’s authorized but unissued capital stock. Under the investment agreement, the notes were convertible at the option of the investors at any time during the five-year term to common shares from the issue date of the notes. KRISTA ANGELA M. MONTEALEGRE


DARWIN G. AMOJELAR


■ Fitch Ratings has upgraded Land Bank of the Philippines’ individual rating to “C/D” from “D” and affirmed its “BB” long-term foreign currency and “AA” national long-term rating with a stable out- look. In a separate statement, Fitch has affirmed all ratings of Development Bank of the Philippines, including its “BB” long-term foreign currency, “AA” national long- term rating with a stable outlook, and its “C/D” individual rating. The agency also affirmed Rizal Commercial Banking


■ THE Philippine Chamber of Commerce and Industry wants efforts to rehabilitate privatized power plants, especially in Luzon, fast-tracked to prevent a looming power shortage. Power cost consumes about 15 percent to as much as 30 percent of a business and industry’s operating cost, PCCI said.


BEN ARNOLD O. DE VERA


■ AMERICAN farmers’ cooperative, AG Processors (AGP), said it plans to increase soybean meal supply to the Philippines in anticipation of the continued growth in the country’s feedmilling industry, buoyed by higher meat and poultry consumption. In 2009, the country imported 1.5 million metric tons of soybean meal, with US-produced soybean meal taking 35 percent share of the market.


JAMES KONSTANTIN GALVEZ


Investments in Trust Funds Insurance Premium Fund


Due from Insurance Premium Fund Government Securities Cash on Hand & in Banks Stocks


Real Estate Inventories


Property and Equipment


Accounts / Notes Receivable Other Assets


Total Assets LIABILITIES Pre-need Reserves


Insurance Premium Reserves Other Reserves


Planholders’ Deposits


Accounts / Notes Payable Taxes Payable


Accrued Expenses Other Liabilities


Total Liabilities STOCKHOLDERS’ EQUITY


Paid-up Capital Stock Additional Paid-in Capital Retained Earnings


Total Stockholders’ Equity Total liabilities and Stockholders’ Equity


HIMLAYANG PILIPINO PLANS, INC. Consolidated Trust Fund Statement As of December 31, 2009


ASSETS Government Securities


Cash in Savings/Time Deposits Stocks


Real Estate


Accrued Investment Income Other Investments


LIABILITIES Trustee Fee Payable Other Liabilities


FUND EQUITY Trust Fund Equity


P P


P


Life / Memorial 55,912,201.00 111,037,420.00 46,139,550.00 5,541,069.00 2,082,774.00 1,373,792.00


P 222,086,806.00


644,498.00 472,299.00 1,116,797.00


P 220,970,009.00 P 222,086,806.00


REPUBLIC OF THE PHILIPPINES ) QUEZON CITY


Pension


3,179,643.00 7,403,263.00 13,885,088.00


181,330.00 24,649,324.00


31,263.00 31,263.00


24,618,061.00 24,649,324.00


ACKNOWLEDGMENT ) S.S. WE, VALENTIN S. DAEZ and LEAH M. LAXAMANA of the above-mentioned Corporation certify that the above Synopsis of the


Annual Statement together with the Consolidated Trust Fund Statement as of December 31, 2009 have been audited by its external auditors, Punongbayan & Araullo.


VALENTIN S. DAEZ President & Chairman of the Board LEAH M. LAXAMANA Sr. Vice President – Comptroller


SUBSCRIBED AND SWORN TO before me this Dec. 03, 2010 at Quezon City, Metro Manila, affiants exhibiting to me their Tax Identification Numbers 103-564-665 & 103-563-680 and Community Tax Certificate Nos. 18223888 and 18340283 issued at Quezon City on January 6, 2010 and January 12, 2010 respectively.


Doc. No. 180 Page No. 37 Book No. XX Series of 2010


RODOLFO G. PALATTAO NOTARY PUBLIC


UNTIL DEC. 31, 2010 ROLL NO. 20513


PTR 3178460 / 1-4-10 / Q.C. IBP 779846 / 1-4-10 / Q.C.


LEGAL NOTICE REPUBLIC OF THE PHILIPPINES SPECIAL COMMITTEE ON NATURALIZATION


IN THE MATTER OF THE PETITION OF SAMMUEL SY LIM to be naturalized as Filipino citizen pursuant to Republic Act No. 9139


X ––––––––––––––––––––––––X PETITION


Pursuant to the provisions of Republic Act No. 9139, petitioner hereby submits a petition for naturalization to become a citizen of the Republic of the Philippines and respectfully declares:


1. My full name is SAMMUEL SY LIM but I have also been known since childhood as SAMUEL SY LIM or I have been judicially authorized to use the alias name(s) N/A.


2. My present place of residence is 230-E Pilar Street City/ Municipality of Mandaluyong City, Province of Metro Manila and all my former places of residences are:


101 Diego Silang St., Batangas City (1966-1997) 22 G. Araneta Ave., Quezon City (1979-1984) 4001-D Sociego St. Sta. Mesa, M.M. (1984-1988) 150-L Aurora Blvd., San Juan, M.M. (1997-1999) 54 Lt. Artiaga St. San Juan, M.M. (1999-2006)


3. I was born on September 24, 1966 in Batangas City, Philippines. I have been a resident of the Philippines since birth. At present, I am a citizen or subject of China.


4. My father’s name is Juan T. Lim and he was born on May 1, 1937, in Batangas City. He is a citizen or subject of China.


My mother’s name is Concepcion Sy Lim and she was born on July 10, 1942, in Manila. She is a citizen or subject of China. 5. My trade, business, profession or lawful occupation is Account Executive and from which I derive an average annual


income of P220,513.55 inclusive of bonuses, commissions and allowances. My wife’s/husband’s trade, business, profession or lawful occupation is Sales Account and from which she derives an average annual income of P135,335.00.


6. My civil status is Married. I was married on December 21, 1997 in Manila. My wife’s name is Emy Lee Lim and she was


born on June 18, 1971 in Manila. She is a citizen or subject of China and presently resides at 230-E Pilar St., Mandaluyong City. 7. I have 3 child/children, whose names, dates and places of birth and residences are as follows:


Name


Shaun Ellis L. Lim Shannen Elle L. Lim Shaine Erin L. Lim


Date of Birth Place of Birth Dec. 25, 1998 Nov. 7, 2001 Nov. 1, 2004


Manila Manila Manila


Residence


230-E Pilar St., Mandaluyong City ““ ““


8. I received my primary and secondary education from the following public schools or private educational institutions duly recognized by the Department of Education, Culture and Sports (DECS), where Philippine history, government and civics are taught and prescribed as part of the school curriculum and where enrollment is not limited to any race or nationality:


Name of School


Kipsi Elem. School Hope Christian H.S. Hope Christian H.S.


Place of School Dates of Study Batangas City Manila Manila


PSBA-Phil. Sch. of Bus. Adm. Manila


1974-1979 1979-1980 1980-1984 1984-1988


Highest Grade Completed Grade 5 Grade 6


4th year high school 4th year college


9. I am able to read, write and speak Filipino and/or any of the following dialects of the Philippines: Filipino/Tagalog


10. I have enrolled my minor children of school age in the following public schools or private educational institutions duly recognized by the Department of Education, Culture and Sports (DECS), where Philippine history, government and civics are taught and prescribed as part of the schooI curriculum and where enrollment is not limited to any race or nationality:


Name of Child


Shaun Ellis Lim Shannel Elle Lim Shaine Erin Lim


Name and Place of School


MGC New Life Christian Academy MGC New Life Christian Academy MGC New Life Christian Academy


Date of Enrollment May 19, 2010 May 19, 2010 May 19, 2010


11. I shall never be a public charge. I am of good moral character. I believe in the principles underlying the Philippine Constitution. I have conducted myself in a proper and irreproachable manner during the entire period of my residence in the Philippines in my relations with the constituted government as well as with the community in which I am living. I mingled socially with Filipinos and have evinced a sincere desire to learn and embrace the customs, traditions and ideals of the Filipino people. I have all the qualifications and none of the disqualifications under Republic Act No. 9139.


I am not opposed to organized government or affiliated with any association or group of persons who uphold and teach doctrines opposing all organized governments. I am not defending or teaching the necessity or propriety of violence, personal assault or assassination for the success and predominance of one’s ideas. I am not a polygamist nor a believer in the practice of polygamy. I have not been convicted of any crime involving moral turpitude. I am not suffering from mental alienation or from any incurable contagious disease. The country of which I am a citizen or subject is not at war with the Philippines and grants to Filipinos the right to be naturalized citizens or subjects thereof.


12. It is my true and honest intention to become a citizen of the Philippines and to renounce absolutely and forever all allegiance and fidelity to any foreign prince, potentate, state or sovereignty, and, particularly toChina of which all this time I am a citizen or subject. I will reside continuously in the Philippines from the date of the filing of this petition up to the time of my admission to Philippine citizenship.


PRAYER WHEREFORE, it is respectfully prayed that petitioner be conferred Philippine citizenship pursuant to the provisions of


Republic Act No. 9139. Dated at Makati City, Metro Manila, this 4th day of October, 2010.


SAMMUEL SY LIM


Name and Signature of Petitioner Address: 230-E Pilar St. Mandaluyong City


Right Thumbmark of Petitioner


Petitioner’s signature and right thumbmark MT – Dec. 6, 13 & 20, 2010 SCN CASE NO. 000387 Education 80,955.00 P


85,795,230.00 90,368,230.00 36,902,500.00 7,157,089.00


Total


59,172,799.00 204,235,913.00 150,392,868.00 42,443,569.00 9,421,193.00 1,373,792.00


220,304,004.00 P 467,040,134.00


273,285.00 P 273,285.00 P


949,046.00 472,299.00 1,421,345.00


220,030,719.00 P 465,618,789.00 220,304,004.00 P 467,040,134.00


P P


150,000,000.00 84,000,000.00 (3,605,597.00) 230,394,403.00 941,458,807.00


P P


431,445,949.00 213,546,650.00 8,240,458.00 203,755.00 1,602,028.00 1,166,955.00 3,335,938.00 51,522,671.00 711,064,404.00


P P


465,618,789.00 214,058,447.00 160,729,607.00 54,200,367.00 13,352,634.00 435,965.00


26,122,085.00 567,046.00 1,648,022.00 3,240,737.00 1,485,108.00


941,458,807.00


In the January to September period, Phinma’s consolidated net income fell 32 percent to P221 million from P325.94 million because of losses incurred by its oil and technology subsidiaries. Phinma shares were unchanged at P10.70 each on Friday. KRISTA ANGELA M. MONTEALEGRE


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