In the Matter of Manila-Global Shipping Corp.

February 20, 2009 SEC EN BANC CASE NO. 10-08-0546 IN THE MATTER OF MANILA-GLOBAL SHIPPING CORPORATION SEC REGISTRATION NO. 0000110396 FOR : Setting Aside Order of Revocation of Certificate of Registration O R D E R Petitioner, MANILA-GLOBAL SHIPPING CORPORATION (formerly: Riz-Global Shipping Corporation), is a stock corporation registered with the Commission on February 22, 1983 under SEC Registration No. 0000110396, with principal office address at GF Dona Feliza Bldg., Taft Avenue cor. Remedios, Manila, engaged in the business of overseas shipping, as stated in its Articles of Incorporation. TSIEAD On August 11, 2003, its Certificate of Registration was revoked by virtue of SEC Order dated July 08, 2003 which was published on July 11, 2003 in the Philippine Daily Inquirer, for non-filing of reports. Petitioner now prays for the setting aside of the Order of Revocation dated July 08, 2003, on the following grounds: 1. that Petitioner has acquired real properties, which it intends to use as its main office and extension offices; 2. that it did not operate since 1999 due to business difficulties and downtrends in its main activity but intends to continue its business once the revocation Order is set aside; and 3. that it has no intention to violate the law and Commission's rules and regulations. In support of its Petition, Petitioner submitted the following documents: 1 1. Photocopy of 2008 Business Permit, Makati City; 2. Photocopy of 2008 Sanitary Permit, Makati City; 3. Photocopy of 2008 Locational Clearance, Urban Development Department, Makati City; 4. Photocopy of Certificate of Registration and Clearance, Barangay Poblacion, Makati City; 5. Photocopy of Directors' Certificate dated April 26, 2008, certifying that at the special joint meeting of stockholders and directors held on the same date, at Rizal Tower, 4474 Singian Street, 1210 Makati City, at which a quorum was present, the resolution allowing the filing of Petition to Set Aside the Order of Revocation was approved; 6. Photocopies of O.R.s for the payment of Real Property Tax for the years 2005 to 2008; 7. Photocopies of Transfer Certificates of Title Nos. 122239 and 83340, Registry of Deeds Paraaque; NT-260499, NT-260501 and NT-260500, Registry of Deeds Nueva Ecija, all in the name of the Petitioner; TAacCE 8. Photocopy of 1987 Certificate of Occupancy with Planters Development Bank, Ministry of Public Works, Municipality of Makati; and 9. 1983 General Information Sheet, received by the Commission on June 07, 1983. Petitioner submitted its 2008 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. It also commits to immediately pay the fines as due. On October 23, 2008, the Petitioner paid the fine of PhP7,250.00 under O.R. No. 0221526, for non/late filing/registration of the following, on the years indicated hereunder: NOT FILED FILED LATE General Information Sheet 1996-2007 2008 Financial Statements 1996-2006 2007 Stock and Transfer Book Registered late WHEREFORE, finding the documents submitted sufficient to establish that Petitioner intends to continue as a juridical entity, the Order of the Commission dated July 08, 2003, revoking the Certificate of Registration of MANILA-GLOBAL SHIPPING CORPORATION, is hereby SET ASIDE. However, Petitioner is hereby directed to submit its 2009 Mayor's Permit within thirty (30) days, and proofs of actual commercial operations not later than six (6) months, after receipt of this Order. Further, it is directed to submit a favorable endorsement from Maritime Industry Authority (MARINA) within sixty (60) days from the date of receipt of this Order. Failure on the part of Petitioner to comply with these directives shall cause the recall of this Order. SO ORDERED. Mandaluyong City, February 20, 2009. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner on leave JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner (SGD.) THADDEUS E. VENTURANZA Commissioner Footnotes 1. Photocopies are faithful reproductions of the originals of the documents. CSAaDE