In the Matter of Evercrest Golf Club Resort, Inc.

December 2, 2011 SEC-CFD ORDER NO. 353-11 IN THE MATTER OF EVERCREST GOLF CLUB RESORT, INC. ORDER OF SUSPENSION The records on file with this Commission show the following violations committed by the subject company: Violation Frequency Penalty of Violation 1. Late filing of sworn certification 2nd P47,500.00 on the extent of the Club's compliance with its Manual on Corporate Governance for 2010. 2. Late filing of sworn certification on 3rd 95,000.00 the attendance of directors to the 2010 board meetings. 3. Non-filing of 2010 Annual Report 2nd 128,000.00 1 4. Non-filing of 2011 1st Quarter Report 3rd 94,800.00 2 5. Non-filing of 2011 2nd Quarter Report 4th Suspension Total P365,300.00 ========== In a letter dated October 11, 2011, the company requested an additional period of three to four months to comply with the reportorial requirements. Pursuant to the Resolution of the Commission in its meeting on November 23, 2011, the company's request for extension of time is hereby DENIED and its Registration of and Permit to Sell Securities are hereby SUSPENDED for a period of sixty (60) days from receipt of this Order or until it files its 2010 Annual Report (SEC Form 17-A) and 2011 1st and 2nd Quarter Reports (SEC Form 17-Q) and pays the penalty of P365,300.00 in full. The Company is henceforth prohibited from offering or selling its securities to the public until this Order is lifted or set aside by the Commission. Should the company fail to comply with this Order within the above-prescribed 60-day period, the Commission shall immediately initiate proceedings for the revocation of its Registration of and Permit to Sell Securities to the Public. Let a copy of this Order be posted in the Commission's official website for the information and guidance of the public. SO ORDERED. EDSA, Mandaluyong City, December 2, 2011. (SGD.) JUSTINA F. CALLANGAN Acting Director Footnotes 1. Computed as of July 8, 2011. Daily penalty continues to accrue until submission of the report. 2. Computed as of July 12, 2011. Daily penalty continues to accrue until submission of report.