In the Matter of Suspension of Certificate of Incorporation of 2009 Registered Corporations

January 8, 2016IN THE MATTER OF SUSPENSION OF CERTIFICATE OF INCORPORATION OF 2009 REGISTERED CORPORATIONSORDERWHEREAS, pursuant to Section 141 of the Corporation Code of the Philippines and the SEC rules and regulations on reportorial requirements, corporations are required to submit annual reports, such as General Information Sheet and the Financial Statements; HTcADCWHEREAS, the records of the Securities and Exchange Commission (the Commission) show that corporations registered in 2009, whose names are enumerated in the attached list marked as Annex "A", failed to submit any of the above mentioned reports for at least five (5) consecutive years, i.e., for the period 2010 to 2014;WHEREAS, the failure of these corporations to submit the said reports can likewise be construed as non-operation for five (5) consecutive years;WHEREAS, the Commission, by virtue of Section 5 (m) of Republic Act No. 8799, also known as the Securities Regulation Code, and Section 6 (i) of Presidential Decree No. 902-A, as amended, is vested with the authority to suspend, after proper notice and hearing, the primary franchise or Certificate of Incorporation of...