Tables of Nationalization Laws and their requirements

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Part of Business Day Special Report

Title: Tables of Nationalization Laws and their requirements
Language: English
Source: Business Day Special Report March 27, 1974
Year: 1974
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Fulltext: Business Day March 27, 1974 COAL MINING TABLES OF NATIONALIZATION LAWS AND THEIR REQUIREMENTS (Continued from page 16) The Board believes that a plant with an annual capacity of 56,100 tons is of econ omical size. With BOI incentives, total cost of this plant i^, around P1.5 million with P790,822 going into the purchase of ’machineries and equipment. Revenues at P65.00 per metric tons can reach P3,650,400 per annum. Net profit after tax is estimated at P439,086. According to the Bureau of Mines, RapuRapu, Batan Island in Albayhas a total estimat ed coal reserve of 18,693,000 metric tons; Northern Camansi, Cebu, 13,671,000 metric tons, and Carmen, Danao City, 11,979,000 metric tons. Other rich deposits of coal are found in Antique, Catanduanes, Nalangas, Zamboanga del Sur (16,805,000 metric tons), and Negros Occi dental. Many of these coal mines, although explored, are not operat ing. LEGAL PROVISIONS SUBJECT MATTER REQUIREMENTS NATURAL PERSONS JURIDICAL PERSONS BANKING 1. Rep. Act. No. 337 as amended by P.D. No. 71 (General Banking Act) 2. Rep. Act No. 4093 as amended by P.D. 119 (Private Development Bankers' Act) 3. Rep. Act No. 720 as amended by RA Nos. 1097; 5939 and P.D. 122 (Rural Banks’ Act) Regulating the establishment and operation of banking Institutions. Regulating the establishment of private development banks. Regulating the establishment and operation of rural banks. Seventy* per cent of voting stock of the Institution must be owned by Filipino citizens, except new banks established by consolidation of branches or agencies of foreign banks In the Phils. Two-thirds of the members of the board of directors must be Filipino citizens. Seventy* per cent of voting stock of the institution must be owned by Filipino citizens, except new banks established by consolidation of branches or agencies of foreign banks In the Phils. Two-thirds of the members of the board of directors must be Filipino citizens. Capital stock must be ioo% owned and held by Filipino citizens. All members of the board of directors must be Filipino LIVING UP TO A NAME: w Our name. It means the top. The summit. It motivates us to achieve management exccllcGCv1 in our opent-ions. It symbolizes too management's youth and expertise in mineral exploration, mining and ore-dressing technology. And because living up to our name is enough incentive, we are proud to share in the government's efforts to create new jobs for Filipinos, generate foreign currency for our country and produce copper and gold to serve society. Apex Exploration and Mining Co., Inc. ORTIGAS BLDG ORTIGAS AVENUE. PASIG. RIZAL BOARD OF DIRECTORS: FERNANDO A. MUNIZ Chairman IGNACIO R. ORTIGAS MARTIN C. PORTER GEORGE T. SCHOLEY VICTOR G. PUYAT ERNESTO B. RUFINO, JR. EDWARD CONRAD GEESLIN GUILLERMO C. GASTROCK PABLO M. CAPISTRANO VICENTE G. PUYAT CALIXTO Y. LAUREANO Members 4. Rep. Act No. 3779 as amended by RA 4378, Sec. 4 (b) Capital structure of savings and loan association Sixty per cent of the capital stock must be owned by citizens of the Philippines. 5. Rep. Act No. 4860 Sec. 3, as amended by RA 6142 CIVIL AERONAUTICS 1. Sec. 5. Art. XIV, Const, of the Phil. 2. Republic Act No. 776 COCONUT INDUSTRY Rep. Act No. 1369 COOPERATIVES 1. Com. Act No. 565; RA 2023 FINANCING COMPANIES Rep. Act 5980 FISHING AND OTHER* AQUATIC RIGHTS 1. Sec. 20, Public Act No. 4003 (Fisheries Act) 2. sec. 22, Public Act No. 4003, as amended by CA No. 471 3. Secs. 24 and 32, Public Act No. 4003 4. Sec. 25, Public Act No. 4003 as amended by CA No. 471. Re-lendlng by gov't, financial Institutions to private sector of foreign loans obtained by these Institutions. Grant of franchise, certificate, autho> izatlon for the operation of a public utility. Issuance of permit to engage In domestic air commerce and/or air transportation. Granting of loans to finance establishment of coconut centrals Organization of cooperative associations. Regulating the establishment and operation of financing companies. Issuance of license to operate vessels to catch fish In territorial waters of the Philippines: transfer or assignment of right. Issuance of license as fisherman to work on vessel engaged In commercial fishing. Issuance of license to take marine mollusca; transfer or assignment of right. Issuance of license for operation of pearling or shell-collecting boat; transfer of assignment of right. 5. Sec. 27, Public Act No. 4003, Issuance of shell-driver's as amended by CA No. 471. license to take marine mollusca or shell thereof. 6. Secs. 39 & 44 Public Act No. 4003 Granting of concession to fish for, collect or gather sponges In territorial waters of the Philippines: transfer or assignment of right; Issuance of special permit. Limited to Filipino citizens. At least 70% of the outstanding and paid-up capital of corporation or partnership must be held by Filipinos until loan Is fully paid. Grantee must be Filipino citizen. Grantee must be Filipino citizen. Grantee must be Filipino citizen. A cooperative association maybe formed by 15 or more persons who are citizens of the Phil, or the U.S. or of both, residing In Licensee must be citizen of the Phil, or the united States or of any other country granting similar right to Filipino cltlzensi transferee or assignee must have qualifications as licensee. Licensee must be citizen of the Phil, or the U3. br of any other country granting similar right to Filipino citizens. Licensee must be citizen or the Phil, or the U.S. or of any other country granting similar right to Filipino citizens, transferee or assignee must have qualifications Same as provided for In Sec. 24, Public Act. No. 4003, supra. ibid. ibid. Grantee must have at least 60 per cent Filipino capital. Grantee must have at least 60% Filipino capital. Grantee must be or association Filipino capital. a corporation with majority Any corporation or association with at least 61 per cent Filipino or American capital may organize a cooperative association. 60 % of the capital stock should be owned by citizens of the Philippines and must have a paid-up capital of at least P500.000; 2/3 of the members of the board of directors of the corp, must be Filipino citizens; if the managrng partners must be Filipino. Licensee must have at least 61 per cent Filipino or American capital; transferee or assignee must have qualifications as licensee. Not applicable. Licensee must have at least 61 per cent Filipino or American capital; transferee or assignee of stock must have qualifications as licensee. Same as provided for In Sec. 24, Public Act No. 4003, supra. ibid ibid March 27, 1974 Business Day Page 19 Secs. 52 & 55, Public Aoi No. 4003 Issuance of license to take hawksblll turtle; transfer or assignment of right; Issuance of special permit. ibid. ibid BOI defines rules on ownership ratio a. Sec. 63, Public Act No. 4003, as amended by C.A. 471. Issuance of fishpond and fishery permit or lease agreement within forest lands. Same as provided for In Sec. 1, Public Act No. 3674, lupra. Same as provided for In Sec. 1, Public Act No. 3674. supra. 9. Sec. 67, Public Act No. 4003, as amended by C.A. 471. Granting of exclusive privilege by municipal councils to erect fish corrals, or operate fishponds, or take or catch "bangus” fry, or fry or other species for propagation; transfer or assignment of right. Grantee must be Filipino citizen. Grantee must have at least 61 per cent Filipino capital. 10.Sec. 74, Public Act No. 4003 Authorizing the sale of any land or portion thereof, owned by reserved for or occupied by Sale or exchange limited to Filipino and American citizens. any fishery farm, experimental station or fishery project for exchange thereof with any site Sale or exchange limited to corporations or associations with at least 61 per cent Filipino or American capital. x private ownership. GEOTHERMAL ENERGY Rep. Act No. 5092 Granting of permits and/or leases for exploration, tapping and utilization of geothermal Leasee or permittee must be Leasee or permittee must have at least 60 per cent Filipino capital. GOVERNMENT CONTRACTS 1. Public Act 4239 Awarding of contracts for the construction of public works. Awardee must be citizen of the Phil, or the U.S. or of any other country granting similar rights to Filipino or American citizens. Awardee must have at least 70 per cent Filipino or American capital. 2. Rep. Act No. 5183, Sec. 4 Awarding of contracts for the supply to, or procurement by, any government-owned or Limited to Filipino citizens. controlled corporation of Sixty per cent of the capital stock must be owned by Filipino citizens. commodities. 3. Com. Act No. 138 (Flag Law) Regulating the purchase of equipment and supplies for government offices and entitles; giving preference to articles produced In the Philippines or In the US. Preference In award of blds given to Filipino or American citizens. Preference In awards of blds given to corps, or commercial companies with at least 75 per cent Filipino or American capital. 4. Com. Act No. 541 Preference In awarding of contracts for the construction or repairs of public works, and building and structure for national defense. Preference given to Filipino or American citizens In award of blds for construction or repair of public works If lowest domestic bld Is not In excess of 15 per cent of lowest foreign bld; no foreign bld allowed for construction or repair of building or structures for national defense. Preference given to corps, or commercial cos. with at least 75 per cent Filipino or American capital In award of blds for construction or repair of public works If lowest domestic bld Is not in excess of 15 per cent of lowest foreign bld; no foreign bld allowed for construction or repair of bldgs, or structure for national defense. GOVERNMENT OBLIGATIONS - Rep. Act No. 504 (Back Pay Law) as amended by RA No. Application of backpay certificates to payment of obligations. Certificates can be applied In payment to Filipino citizens Certificates can be applied In payment only to corps, or associations with at least 60 per cent Filipino capital. INVESTMENT COMPANIES Rep. Act No. 2629 Sec. 15 INVESTMENT HOUSES P.D. 129 (The Investment Houses Law) Regulation of Investment companies. Regulation of Investment houses All directors must be citizens of the Philippines. MARKET STALLS Rep. Act No. 37 Majority of voting stock must be owned by Filipinos. Majority of members of the Board must be Filipino citizen Preference In the lease of market stalls. Filipino citizens given preference. No Provision. MINERALS ANO MINERAL LANDS/ NATURAL RESOURCES 1. Sec. 9, Art., Xlv, Const, of the Phil. Disposition, exploitation, development exploration, or utilization of any of the natural resources of the Phil. Filipino citizens At least 60% of the Capital stock must be owned by Filipino 2. Public Act No. 2719 (Coal Land Act), as amended by RA No. 740 Lease of unreserved and unappropriated coal-bearing Leasee must be Filipino citizen. Leasee must have at least 60% Filipino capital. 3. Com. Act No. 137 (Mining Act), as amended by CA No. 309, and RA NOS. 225 & Disposition, exploitation development or utilization of minerals and mineral lands of the public domain. Limited to Filipino citizens. Limited to corporations or associations with at least 60% Filipino capital. 4. Rep. Act No. 387 (Petroleum Act of 1949( OTHER PUBLIC SERVICE Exploration, development, exploitation, or utilization of petroleum resources; assignment or transfer right thereto; preference in employment concessions. Concessionaire or transferee .must be Filipino citizen. Concessionaire or transferee must have at least 60% Filipino capital. Sec. 5, Art. the Phil. xlv. Const, of Sec. 7(1), Art. XV, Const, of Ownership the Phil. Mass media. operation of Limited to Filipino citizens. Must be wholly-owned and manged by Filipino citizens. Governing body of any entlry telecommunications shall controlled by citizens of Phil. be Sec. 8(7) Article XV, Const, of the Phil. Operation of Institutions other established by mission boards organizations educational religious orders, and charitable Issuance of certificates of public convenience and necessity. Limited to Filipino citizens 60% of Its capital must be owned by such citizens. Control and administration must be limited to citizens of the Philippines. Grantee must be Filipino or American citizen. Grantee must have at least 50 per cent Filipino or capital. American (Continued on page 20) The accompanying table of nationalization laws has been prepared by the Board of Investments as a basic guideline for fo reign investors who are not aware of the existing regulations concerning ownership of Philippine companies and industrial properties. Recent foreign invest ment liberalization measures are intended to support the intentions of the Investment Incentives Act and the Export In centives Act. Both Acts provide for special treat ment of foreign capital in prescribed areas of invest ment for a specified period of time. New rules Some of these new regulations are as fol lows: (1) Pioneer areas One of the conditions in allowing foreignowned or controlled firms in pioneer areas of investment is that the foreign enterprise ob ligates itself to accept Filipino investments sub sequently and that within 20 years (extendable for another 20 years only in certain areas), it per cent controlled by Fili pinos. The recent amend ment requires attainment of filipino control within 30 years or within 40 years, if the enterprise is engaged primarily (at least 70 per cent) in the exportation of registered products, which period is extendible for another 10 years by BOI. (2) Complementation arrangements In addition to the Constitutional provision limiting to 60 per cent Filipino-owned firms, the exploitation of natural resources and engaging in public utilities, there are other statutes requiring ownership by Filipino stockholders of all or the major portion of the equity in certain trades, etc. The BOI, subject to the approval of the National Economic Deve lopment Authority, is now empowered to suspend such requiremnt (except in areas covered by the Constitutional prohibition) in big multi national projects pur suant to international complementation ar rangements for the man ufacture of a particular product on a regional basis. Under this amend ment, foreign investors may consider the Philip pines as the base for serving the Southeast Asian market in cases of complementation schemes without being subjected to the various statutes limiting owner ship of the majority of the stockholdings to Fili pinos in case the par ticular activity is subject to such limitation. Export firms (3) Foreign export firms. Foreign-owned or controlled firm engaged or proposing to engage in the production of ''export products'' in tended primarily for foreign markers are now qualified to apply for registration with BOI and avail of incentives, the principal ones being: a. Tax credit on im ported materials and sup plies equivalent to the amount of duties and compensating taxes paid; b. Tax exemption on inported capital equip ment or tax credit on taxes that would other wise be paid if the domestic capital equip ment was imported, for new capacity designated as intrisically exportoriented or for additional capacity deemed neces sary to meet export orders; c. Deduction for tax able income of undHtributed pjofits used for"1 expansion reinvestment; d. Carry-over of net operating loss as a de duction from taxable in come; e. Accelerated depre ciation; f Additional dedui n fram taxable in corn; o. an amount equivalent to 50 per cent of training expenses in curred; g. Exemption from all internal revenue taxes except income taxes if the project is a pioneer undertaking; h. Exemption from ex port tax, impost or fee. (4) Tourism incentives A new addition to the Export Incentives Act is the grant of incentives to tourism ventures. Among beneficiaries of such in centives would be fo reign-owned or con trolled service exporters engaged in the business of primarily catering to foreign tourists and tra velers. Incentives avail able to such service ex porters for the first 5 years from registration are: a. Reduced income tax, i.e., the enterprise may deduct from its taxable income an amount equivalent to 50 per cent of its total export fees during the year in which the in centive is claimed; and b. Tax and duty-free importation of capital equipment directly and actually needed by such service exporter. fyge 20 Bueinsaa Day March 27. 1974 Regional dispersal beneficial to labor The regional dispersal of industries program of the Board of Invest ments has so far benefitted Southern Tagalog Northeastern Mindanao. The rest of Philippine provinces or regions have not attracted enough industries to enable them to sustain the high migratory flow of labor. The Southern Tagalog area (Batangas, Cavite, Laguna, Oriental Min doro, Palawan, Quezon, Rizal) attracted a total of P548.5 million invest ment between July, 1968 and December, 1972. This was 22.85 per cent of the P2.4 billion committed to implement Board-regis tered projects during this period. From January to December, 1973, BOI data show that a total of P 141.0 million have already been committed to Southern Tagalog pro jects. The province of Batangas, out of this total, has a share of P47.8 million, Rizal, P53.6 million and Laguna, P32.2 million. Bigger share Investment commit ment from July 1968 to December, 1972 is even bigger in Northeastern PAINTS ELIZALDE & CO., INC. MABUHAY VINYL CORPORATION For the past 120 years, Elizalde has continuously served the nation. Today, more than ever, it is fully aware of its role as one of the nation's pillars for progress. Through its varied industries, it benefits millions of Filipinos, provides them a better way of life. Through its humanitarian efforts, civic and sports activities, it has given hope to many. In the far reaches of the islands, Elizalde is there to extend help and know- how, giving the Filipino a better outlook on life. Today and the coming generations. He is the new hero. Because he builds. As you do. A nation. Proud of its heritage. Proud of its accomplishments. Confident of its future. And now. Under a new order. He is recognized. And he reaps its reward. As you do. A share in the profits of capital. Due compensation for honest labor. Under a New Society. And of yourself. He is the new hero. His, is the courage to serve without fanfare. Without drama. BE PROUD OF HIM! March 27, 1974 Business Dey Page 21 Mindanao. Of the P2.4 billion total investment project cost, Northeastern Mindanao (Agusan, Bukidnon, Lanao del Norte, Lanao del Sur, Misamis Orien tal, Surigao del Norte, and Surigao del Sur) got a significant P1.5 billion investment share or 62.5 per cent of P2.4 billion While Southern Luzon is considered attractive for agro-based industries, Northeastern Mindanao is favored as a site for wood processing facilities because of its high timber output. Surigao del Norte alone has attracted as much as P1.0 billion in invest ment between July, 1968 and December, 1972. Lanao del Norte accounts for over P229 million private invest ment in the area. However, the same situation does not hold true for other regions or provinces. Despite grow ing control on the part of the Board to regulate the siting of manufactur ing facilities, marketing and raw material con siderations play an important part in project locations. Cagayan Valley (Caga yan and Isabela) attract ed P2.7 million only in investments; Eastern Visjayas (Leyte and Samar) cirew P8.4 million; Western Minda nao (Zamboanga del Sur and Sulu), P15.1 million. Limited flow When compared to the volume of invest ments committed to both Southern Tagalog and Northeastern Minda nao, the capital flow to these following regions continues to be small: I locos (Mountain Pro vince, La Union, Pangasinan), P54.7 million; Central Luzon (Bataan, Bulacan, Zambales), P56.3 million; Bicol (Albay, Camarines Norte, Camarines Sur, Masbate), P50.7 million; Western Visayas (Capiz, Negros Occidental, Iloilo), P39.5 million; Central Visayas (Cebu, Negros Oriental), P31.6 million; and Southern Mindanao (Cotabato, Davao), P65.8 million. At the end of Decem ber, 1972, there were a total of 102 plants sited or being sited by BOIregistered proponents in Central Luzon. Of this total, 78 manufacturing facilities are in Rizal. Between January to December 1973, an add itional 22 plants are to be sited in Central Luzon out of a total of 51 plants approved. Of the 22, 17 are to be loc ated in Rizal. Between July, 1968 (Continued on page 22) 8. com. Act No. 452, u amended by RA 1252 Granting of leases and permlti for paitura lands. Leasee or permittee must be citizens of the Phil. Leasee or permittee must at least 60% Filipino capital. RETAIL TRADE 1. Rep. Act No. 1180 (Retail Trade Nationalization Law.) Regulation of retail trade business. Privilege granted only to Filipino citizens effective May 15, 1954. Allens engaged In the retail business prior to May 15, 1954 may continue to do so until death or voluntary retirement of license or forfeiture of his Privilege grantee only to organizations with 100% Filipino capital. Allen organizations engaged In the retail business prior to May 15, 1954, may continue to do so until the expiration of their term but not beyond June 19, 1964. 2. Rep. Act No. 1292 Granting and underwriting of credit facilities for the operation of retail business. Grantee must be Filipino citizen who Is a bona-fide retailer. No provision. RICE 8, CORN 1. R.A. No. 3018, as amended Regulation of the rice and Filipino citizens by P.T). 194 corn Industry. 2. Sec. 1172, Ch. 30 (Customs Law), Public Act No. 271, (Rev. Adm. Code); Sec. 806, RA 1937 Issuance of certificate of Philippine register to vessels of domestic ownership for coastwise trade. Note: This function has been transferred to the Philippine Coastguard under RA 1573. Grantee must be Filipino or American citizen residing In the Phil. 3. Sec. 1176 1/4 foe cit. 4. Sec. 1202 toe cit. 100% Flllplno-owned corporations. However, aliens can engage In this business upon authority from NGA with a Flllplnlzatlon requirement of 60% within a period to be determined by the NGA. Only Filipino banks may be designated by the Rice and Corn Administration In which money for the payment of palays, rice •nd corn may be deposited. Grantee must have at least 75 per cent Filipino or American capital. The president and managing directors must be citizens of the Philippines. Issuance of license fo> exclusively for pleasure. ■ yachts Licensee must be Filipino or American citizens. No provision. Limiting number of personnel on board engaged In coastwise trad: foreign Officers and crew must be Filipino or American citizens. Not applicable. lConiif.iieltvnpage-22) IMPERIAL TEXTILE MILLS. INC. KM. 21 MACARTHUR HI-WAY MARILAO, BULACAN, PHILIPPINES MANILA LIAISON OFFICE: 2ND FLOOR NAREBEL BLDG. 917 JUAN LUNA STREET MANILA, PHILIPPINES TELEPHONES: 20-26-18 21-86-76 26-37-30 Page 22 Business Day March 27,1974 (Continued from page 21) 5. Sec. 1212 loc cit. Issuance of bay and river Owner of vessel must be Filipino or American citizen. Owner of vessel must have at least 70 per cent Filipino or American capital. 6. Com. Act No. 606 (Charter Party Law) as amended by RA No. 913 Sale, lease, charter or transfer of vessels and shipping facilities owned In whole or In part by a citizen of the Philippines or by a corporation organized under Philippine laws. Vendee, lessee or transferee must be citizen of the Philippines or United States or of any other country not at war with the Philippines. Vendee, lessee, or transferee must have at least 75 per cent Filipino or American capital. 7. Sec. 2, RA No. 1187 (Philippine Overseas Shipping Act), as amended by RA Nos. 4146; 5963 Exemption from payment pf taxes on Income derived from overseas shipping business and Overseas service. Owner, operator or constructor must be Filipino citizen. Owner, operator or constructor must have at least 60% per cent Filipino capital. Grantee must have at least 60 % per cent Filipino capital. 8. Sec. 3, loc cit. Grant of loans to finance Grantee must be Filipino citizen, acquisition and operation of oceangoing vessels. Vendee must have at least 60% per cent Filipino capital. Regional dispersal beneficial to labor 9. Sec. 7, Loc cit. Sale of vessels mortgaged to the Government. Vefidee must be Filipino citizen. The vessels must be owned by citizens of the Philippines or corporations or associations at least 5% of the capital stock Is owned by Filipinos. 10. Sec. 806 as amended, of the Tariff and Customs Code of the Phil. Registration of vessels to be used in coast-wise trade* TIMBERLAND AND FOREST PRODUCTS 1. Secs. 9 & 11, Art. XIV, Const of the Phil. 2. Public Act No. 2590 Issuance of permit to hunt and collect protected wild life. Permittee may be see Opinion of theP Sec. No provision. Justice, dated April 20, 1948 restricting Issuance of permit to Filipino citizens. * The Monetary Board with approval of the Pres, may reduce the required ownership to 60%. * Pres. Decree No. 43 (Nov. 9, 1972) provides for 60% Filipino equity In a buslne-. relating to the fishing Industry. Although there Is no express repeal of the following provisions, It seems a reasonable presumption that tne 61% Is now reduced to 60%. . engaged n-coast-wise trade per decision of the Supreme Court In the case of Commissioner of Customs Vs. r Borres, et. al.,.G.R. No. L-12->87, November 28, 1959. ’ (Continued from page 21) and December, 1973, Northeastern Mindanao would have sited 37 plants, of which 10 are in Misamis Oriental. The small number of plants to be located in this area is compensated by the value of the machineries to be installed here. Investment in machinery and equipment of pro ponents in this area is expected to total $246.4 million at the end of December, 1972. Employment generation The number of per sons to be employed in Southern Tagalog and Northeastern Mindanao will naturally be greater than other areas in the country. According to BOI data, there would have been some 48,468 persons to be directly benefitted by BOI pro jects at the end of 1973. Out of this total, 19,976 persons or 41.2 per cent will be absorbed by Cen tral Luzon while 10,001 or 20.6 per cent of the total will be employed in Northeastern Min danao plants. Some 14,478 will be employed in Rizal Province alone and 3,201 in Surigao del Norte. At the end of Decem ber, 1972, oniy~ six plants were located in uppc A BOI-registered, preferred, non-pioneer enterprise manufacturing MULTIWALL KRATT PAPER FOR PACKAGING • SUGAR • FLOUR • FERTILIZER • CEMENT • ANIMAL FEEDS • MEAT, FISH, POULTRY & FROZEN FOODS • AND HUNDREDS OF OTHER PRODUCTS For more detailed information, write or call; United Pulp and Paper Company, Inc. 3OO Bank of P.l. Bldg., Ayala Ave.. Makati, Rizal LVfTrM Tel. S9-97-31 to 09-97-36 MATLING INDUSTRIAL AND COMMERCIAL CORPORATION 8th Floor, Building 1515, Roxas Boulevard Ermita, Manila Philippines CALL 50-96-76 to 78 AGRICULTURAL PRODUCTS: CASSAVA STRACH, COPRA, CACAO, CATTLE
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