In the Matter of Club Morocco Beach Resort & Country Club, Inc.

March 9, 2011 SEC-CFD ORDER NO. 048-11 IN THE MATTER OF CLUB MOROCCO BEACH RESORT & COUNTRY CLUB, INC. ORDER OF SUSPENSION The records on file with this Commission show that the company committed the following violations: 1. Late filing of its 2009 Annual Report; 2. Late filing of its 2009 1st, 2nd and 3rd Quarter Reports; 3. Non-filing of its 2010 First Quarter Report (SEC Form 17-Q), which constitutes the company's fourth offense; 4. Non-filing of its 2010 Second Quarter Report (SEC Form 17-Q) which constitutes the company's fifth offense; and 5. Late Filing of its 2010 Third Quarter Report (SEC Form 17-Q) which constitutes the company's sixth offense. In spite of notice and demand, the company has, to this date an unpaid assessment for the late filing/non-filing of its reportorial requirements. Furthermore, the non-filing of its 2010 First Quarter Report is already its Fourth Violation. Under SEC Memorandum Circular No. 6 Series of 2005; a Fourth Violation is subject to the penalty of Suspension. ISCDEA Pursuant to the resolution of the Commission, in its meeting on March 3, 2011, the company's Certificate of Registration of Securities and Permit to Sell Securities to the Public is hereby suspended for a period of sixty (60) days from receipt of this Order or until it settles in full the total assessed penalty of Php412,900.00 1 and file the required reports. Failure to settle the penalty within 60 days or file the required reports, the Commission shall proceed with the revocation proceedings. Let a copy of this Order be posted in the Commission's official website for the information and guidance of the public. SO ORDERED. March 9, 2011, Mandaluyong City. (SGD.) JUSTINA F. CALLANGAN Director Footnotes 1. Php162,500 + Php250,400 = Php412,900.00 (late filing of its 2009 (Late Filing of 2009 Annual Report) Quarterly Reports)