In re Aim High Transport Services, Inc.

July 31, 2008 SEC EN BANC CASE NO. 07-08-0480 IN THE MATTER OF AIM HIGH TRANSPORT SERVICES, INC., SEC REGISTRATION NO. A199717577 , petitioner. FOR: SETTING ASIDE THE ORDER OF REVOCATION OF THE CERTIFICATE OF REGISTRATION O R D E R Petitioner, AIM HIGH TRANSPORT SERVICES, INC., is a stock corporation, registered with the Commission on 10 September 1997, under SEC Registration No. A199717577, with principal office address at No. 12 Burgos St., Subic, Zambales. Its primary purpose, as stated in its Articles of Incorporation, is to engage in land transportation for the transportation and carriage of passengers, goods and merchandise within any place in the Philippines. On 15 March 2004, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 10 February 2004, published on 14 February 2004 in the Philippine Daily Inquirer, for non/late filing of reports. DEHaAS Petitioner now prays for the setting aside of the Order of Revocation dated 10 February 2004, on the following grounds: 1. That the Petitioner is in operation and if it closes, the employees of the Petitioner will lose their jobs; 2. That the Petitioner has recently re-organized its corporate structure through the election of a new set of Board of Directors and officers with the intention of continuing its operations; In support of its Petition, Petitioner submitted the following documents: 1 1. Directors' Certificate dated 05 July 2008, certifying that at the special Meeting, held on 05 July 2008, at its office in Subic, Zambales, the resolution allowing the filing of Petition to Set Aside Order of Revocation was approved by the majority of the directors and stockholders representing majority of the outstanding capital stock; 2. Photocopy of the Permit to Operate dated 15 April 2008, signed by Mr. Armand C. Arreza, Administrator and CEO of Subic Bay Metropolitan Authority; 3. Photocopy of the Mayor's Permit for the year 2008, issued to the Petitioner by the Office of the Mayor, Olongapo City; 4. Photocopy of the Certificate of Registration dated 05 May 1999, issued by the Bureau of Internal Revenue, Revenue Region No. 004, Revenue District No. 018. DaHcAS Petitioner submitted its 2008 General Information Sheet (GIS) and 2007 FS to prove its intention to continue its registration with the Commission. Further, Petitioner also manifested that it has no intention to violate the law and henceforth, commits to immediately pay the fines due. On 15 July 2008, Petitioner paid the fine of P20,000.00, the amount assessed by the Law and Regulation Division of the Company Registration and Monitoring Department (CRMD), under Official Receipt No. 0186774, for non/late filing of the following: NOTED DEFICIENCIES YEARS COVERED REQUIREMENTS NOT FILED FILED LATE General Information Sheet 1998-2007 2008 Financial Statements 1998-2006 2007 WHEREFORE, premises considered, finding the grounds invoked by the Petitioner to set aside Order of Revocation as meritorious, the Order dated 10 February 2004 revoking the Certificate of Registration of the AIM HIGH TRANSPORT SERVICES, INC., is hereby SET ASIDE. Let a copy of this Order be furnished the Corporate Filing and Records Division of the CRMD for attachment to the corporate records of the Petitioner on file with the Commission. The Economic Research and Information Department is hereby directed to delete the name of the Petitioner from the list of revoked corporations immediately upon receipt of this Order. TaCDAH SO ORDERED. Mandaluyong City. July 31, 2008. (SGD.) FE B. BARIN Chairperson On leave MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner (SGD.) THADDEUS E. VENTURANZA Commissioner Footnotes 1. Photocopies verified against the original.