Mr. Libertad Lagman-Sy

April 12, 1991 Mr. Libertad Lagman-Sy Sugar Regulatory Administration North Avenue, Diliman Quezon City S i r : This refers to your letter of March 19, 1991 requesting opinion on the query posed therein. As stated, the Securities and Exchange Commission had issued to a 100% Japanese Corporation a license to engage in the manufacture, importation and exportation of variety of Philippine products . Your query is whether "sugar" is included in the term "variety of the Philippine products" indicated in the aforecited license as to allow said corporation to engage in the exportation of Philippine sugar. Please be advised that a purpose clause can be reasonably stretched or construed to cover matters or objects which could not have been expressly enumerated at the time of incorporation due to their huge number or changes in economic conditions, but can be impliedly included therein. The term "variety" is a very all-encompassing term which covers all kinds of Philippine products, including "sugar". Accordingly, the corporation may be allowed to engage in the exportation of said Philippine product. llcd Very truly yours, (SGD.) ROSARIO N. LOPEZ Chairman