Re: International Freight Forwarding; Applicability of Anti-Dummy Law

November 17, 2017SEC-OGC OPINION NO. 14-17RE: INTERNATIONAL FREIGHT FORWARDING; APPLICABILITY OF ANTI-DUMMY LAWValdecantos & Valencia Law OfficeUntis 16-IJ1 and 16-IJ2, 16th FloorBurgundy Corporate Tower252 Sen. Gil J. Puyat Ave.,Makati City 1200Attention: Atty. Jose B. ValenciaDear Atty. Valencia,This refers to your letter dated 03 August 2016 requesting for confirmation of the legality of the proposed increase of the foreign equity participation in MOL Logistics (Phils.), Inc., (MOL Logistics) and the applicability of Commonwealth Act No. 108, as amended (Anti-Dummy Law). As stated in your letter, MOL Logistics is a domestic corporation engaged in the business of international freight forwarding with the primary purpose as follows:"to engage in and carry on the business of international ocean and air freight forwarding and logistics including distribution, warehousing, packaging, crating, labeling, inventory management and control of general cargo, merchandise, plant and heavy machinery, household goods and personal effects; to act as cargo consolidator, representative, contractor, or consultant of companies or individuals directly or indirectly, wholly or partially engaged or related to any or all the above businesses; and/or operate as...