May 20, 2014
SEC CRMD
IN THE MATTER OF MAGDALENA ESTATE, INC.
SEC Registration No. PW-368
FOR : Revocation of Certificate of Incorporation for Violation of the Corporation Code of the Philippines and the SEC Rules and Regulations on Reportorial Requirements
ORDER
WHEREAS, the records of this Commission show that MAGDALENA ESTATE, INC., (hereafter referred to as the "corporation"), registered with the Commission on 01 March 1922 (with extension of term approved by the Commission on 16 March 1972) under SEC Registration No. PW-368, failed to submit the following as required by the Corporation Code of the Philippines and the SEC rules and regulations on reportorial requirements:
Requirements | Not Filed |
| General Information Sheet | 1996-2013 |
| Financial Statements | 1996-2012 |
| Stock and Transfer Book | Not Registered |
WHEREAS, Section 141 of the Corporation Code of the Philippines requires corporations to submit their annual reports to the Commission, such as, General Information Sheet and the Financial Statements, thus:
"Every corporation, domestic or foreign, lawfully doing business in the Philippines shall submit to the Securities and Exchange Commission an annual report of its operations, together with a financial statement of its assets...
