In the Matter of R.P. Alingog Development Corp.

February 21, 2008 SEC EN BANC CASE NO. 01-08-0327 IN THE MATTER OF R.P. ALINGOG DEVELOPMENT CORPORATION (S.E.C. REG. NO. AS093-000656) , petitioner. FOR: SETTING ASIDE ORDER OF REVOCATION O R D E R Petitioner R.P. ALINGOG DEVELOPMENT CORPORATION is a stock corporation registered with the Commission on 28 January 1993. 1 Petitioner was organized to acquire and to own, use, improve, develop, subdivide, sell, mortgage, exchange and hold for investment or otherwise, real estate of all kinds. 2 Its principal office is located at 086 Rizal Avenue, Cauayan City, Isabela. On 03 November 2003, petitioner's Certificate of Registration No. AS093-000656 was revoked by virtue of SEC Order dated 30 September 2003 for non-compliance with the Commission's reportorial requirements. The said order was published in a newspaper of general circulation on 04 October 2003. Petitioner seeks reconsideration of the Order revoking petitioner's registration based on the following grounds: 3 1. Petitioner is currently engaged in real estate business; and 2. The interest of petitioner's stockholders and investments are affected. As proof of its intent to continue its operation, petitioner submitted copies of the following: 1. Mayor's Permit No. 2007-01181 issued by the Office of the City Mayor of Cauayan City, Isabela on 26 January 2007; 2. 2006 Annual Income Tax Return; 3. 2006 Audited Financial Statements duly received by the Bureau of Internal Revenue; and 4. 2007 General Information Sheet. Petitioner further alleges that it has no intention to violate the law and henceforth, commits to comply with the rules and regulations of the Commission regarding the submission of reports. As a matter of fact, petitioner already paid the penalty in the amount of ONE HUNDRED NINE THOUSAND SEVEN HUNDRED FIFTY ONE & 17/100 (Php109,751.17) as evidenced by Official Receipt No. 0130398 dated 11 January 2008. WHEREFORE, premises considered, the Order of the Commission dated 30 September 2003 revoking the Certificate of Registration of R.P. ALINGOG DEVELOPMENT CORPORATION is hereby SET ASIDE. Let a copy of this Order be furnished the Company Registration and Monitoring Department and the Economic Research and Information Department of this Commission for their appropriate action. SO ORDERED. Mandaluyong City. February 21, 2008. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner on official leave THADDEUS E. VENTURANZA Commissioner Footnotes 1. Petitioner's Certificate of Registration. 2. Petitioner's Articles of Incorporation, 2nd Article. 3. Undated Supplemental Petition, pp. 1-2.