February 8, 2011, Mandaluyong City.

February 8, 2011 SEC-CFD ORDER NO. 027-11 IN THE MATTER OF A.M. CREDITWORLD FINANCE CORP. ORDER OF SUSPENSION The records on file with this Commission show that the subject-corporation failed to submit/comply with the following reportorial requirements and to pay the annual fees and penalty of the commission: Penalty Annual Fees 2006 (due date: 12-24-05) 1st violation reprimand 2007 (due date: 7-11-07) 2nd violation Basic Penalty: P10,000 Add: daily penalty @100/day July 12, 2007 to Sept. 22, 2010 = 782 days 78,200 2008 (due date: 7-11-08) 3rd violation Basic Penalty: 10,000 Add: daily penalty @200/day July 12, 2008 to Sept. 22, 2010 = 536 days 107,200 2009 (due date: 7-11-09) 4th violation Basic Penalty: 10,000 Add: daily penalty @200/day July 12, 2009 to Sept. 22, 2010 = 302 days 60,400 2010 (due date: 7-11-10) 5th violation Basic Penalty: 10,000 Add: daily penalty @200/day July 12 to Sept. 22, 2010 = 51 days 10,200 Quarterly Reports 2006 1st quarter (due date: 5-15-06) 1st violation reprimand 2nd quarter (due date: 8-15-06) 2nd violation Basic Penalty 10,000 Add: daily penalty @P100/day Aug. 16, 2006 to Sept. 22, 2010 = 1,003 days 100,300 3rd quarter (due date: 11-15-06) 3rd violation Basic Penalty Add: daily penalty @P200/day Nov. 16, 2006 to Sept. 22, 2010 188,200 4th quarter (due date: 2-15-07) 4th violation Basic Penalty 10,000 Add: daily penalty @P200/day Nov. 16, 2006 to Sept. 22, 2010 = 880 days 176,000 2007 1st quarter (due date: 5-15-07) 5th violation Basic Penalty 10,000 Add: daily penalty May 16, 2007 to Sept. 22, 2010 = 822 days 164,400 2nd quarter (due date: 8-15-07) 6th violation Basic Penalty 10,000 Add: daily penalty Aug. 16, 2007 to Sept. 22, 2010 = 759 days 151,800 3rd quarter (due date: 11-15-07) 7th violation Basic Penalty Add: daily penalty Nov. 16, 2007 to Sept. 22, 2010 188,200 4th quarter (due date: 2-15-08) 8th violation Basic Penalty 10,000 Add: daily penalty @P200/day Feb. 16, 2010 to Sept. 22, 2010 = 637 days 127,400 Interim Financial Statements 2008 1st semester (due date: 7-15-08) 9th violation Basic Penalty 10,000 Add: daily penalty @P200/day July 16, 2008 to Sept. 22, 2010 = 546 days 109,200 2nd semester (due date: 1-15-09) 10th violation Basic Penalty 10,000 Add: daily penalty @P100/day Jan. 16, 2009 to Sept. 22, 2010 = 407 days 81,400 2009 1st semester (due date: 7-15-09) 11th violation Basic Penalty Add: daily penalty @P200/day July 16, 2009 to Sept. 22, 2010 = 288 days 57,600 2nd semester (due date: 2-15-10) 12th violation Basic Penalty 10,000 Add: daily penalty @P200/day Feb. 16, 2006 to Sept. 22, 2010 = 147 days 29,400 2010 1st semester (due date: 7-15-10) 13th violation Basic penalty 10,000 Add: daily penalty @P200/day July 16 to Sept. 22, 2010 = 26 days 5,200 General Information Sheet* 2005 to 2010 not filed in 6 years Audited financial Statements 2005 (due date: 4-30-06) date file: 1-9-07/1st violation reprimand 2006 (due date: 4-30-07) 2nd violation Basic Penalty Add: daily penalty @P100/day May 1 to Sept. 22, 2007 = 738 days 73,800 2007 (due date: 4-30-08) 3rd violation Basic Penalty 10,000 Add: daily penalty @P200/day May 1, 2009 to Sept. 22, 2010 = 587 days 117,400 2008 (due date: 5-7-09) 4th violation Basic Penalty 10,000 Add: daily penalty @200/day May 8, 2009 to Sept. 22, 2010 = 335 days 67,000 2009 (due date: 5-7-10) 5th violation Basic Penalty 10,000 Add: daily penalty @200/day May 10 to Sept. 22, 2010 = 93 days 18,600 Special Forms of FINANCIAL STATEMENTS for FINANCING COMPANIES (FCFS) 2006 (due date: 5-30-07) 1st violation EIDATc 2007 (due date: 5-30-08) 2nd violation Basic Penalty 2,000 Add: daily penalty @P100/day June 1, 2008 to Sept. 22, 2010 = 566 days 56,600 2008 (due date: 4-23-09) 3rd violation Basic Penalty 2,000 Add: daily penalty @100/day April 24, 2009 to Sept. 22, 2010 = 345 days 34,500 2009 (due date: 4-23-10) 4th violation Basic Penalty 2,000 Add: daily penalty @100/day April 24 to Sept. 22, 2010 = 103 days 10,300 Total Penalty P2,164,500 ========= Maximum penalty P100,000 Annual fees 3, 156.25 x 5 years = P15, 781.25 15,781.25 Total Amount due P115,781.25 ========= On 20 July 2006, 1 09 July 2007, 2 22 January 2008 3 and 29 February 2008 4 show cause letters were sent and received informing the corporation of the violations. On 25 February 2009, 5 a Notice of Hearing for Suspension was also sent and received on 19 March 2009 by a certain Susana G. Carlos. The company has continuously failed to respond to any of the letters/orders and notice of suspension. Pursuant to the resolution of the Commission in its meeting on 03 February 2011, the company's Certificate of Authority to operate as a Financing Company is hereby SUSPENDED for a period of sixty (60) days from receipt of this Order or until the corporation has complied with the said reportorial requirements and paid the fees and penalty. After the lapse of said period without compliance by the company with all the said requirements and payment of the fees and penalty, the Commission shall, after due notice and hearing, immediately initiate proceedings for the revocation of its CA. Let a copy of this Order be sent and posted at the principal office of the corporation, at the municipal office of town/municipality where its principal office is located and at the Commission's website for the information and guidance of the public. SO ORDERED. SIEHcA February 8, 2011, Mandaluyong City. (SGD.) JUSTINA F. CALLANGAN Acting Director Footnotes 1. Returned to sender with a postal note that the addressee was "unlocated". 2. Received on 09 October 2007. The mailman failed to indicate receiver's name and position despite a written instruction on the return slips. 3. Received on 07 February 2008 by Nyssa Ocampo, also there is no indication of receiver's name and position despite a written instruction on the return slips. 4. Received on 29 October 2008 by Donna Cunanan, also there is no indication of receiver's name and position despite a written instruction on the return slips. 5. Received on 19 March 2009 by Susana G. Carlos, Acting Clerk.