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Lawsuits mar bus firm’s board meeting in CDO

February 14, 2020

    THE brewing feud among the Yanson family siblings still marred the annual stockholders meeting of one of the subsidiaries of the family-owned Yanson Group of Bus Companies, held Wednesday, January 12, in Cagayan de Oro City.       In one faction, consisted of four of the Yanson’s siblings-- Roy, Ricardo Jr., Emily and Cynthia Yanson-Lopez—which called themselves the “Y-4 or Yanson 4” has questioned what they considered as an illegal takeover of their other two siblings-- Leo Rey and Ginnette Dumancas—of the company’s management with the blessings of the family’s matriarch, Olivia.           In January 19, this year, the other faction held the stockholders meeting of Bachelor’s Express, Inc. which operates one of the bus company’s  Mindanao fleet also in Cagayan de Oro City which voted for the retention of Leo Ray as chairman of the board.            Lawyer Philip Sigfrid Fortun, lead counsel of the “Y-4”, in a press conference, said they already filed a case before a Cagayan de Oro court questioning the validity of the said January 19 stockholders meeting as it did not conform with the requirements of the law for convening without the majority members of the board.  It was learned that in 2019, Olivia and her two children have assumed control of Bachelor Express.             Fortun contented that the holding of the stockholders meeting and its results were without basis since the three stockholders – Olivia and Leo Rey Yanson; and Dumancas – only constitute the minority of the stockholders of the company.     The majority members, he said, constitute the contending children – Roy, Ricardo Jr. and Emily Yanson; and Lopez. The four did not participate in the said meeting.     The result, however, resulted in the reelection of Leo Rey Yanson as chairman and president of Bachelor Express, Inc. while Olivia Yanson was elected as corporate secretary and treasurer.         Also in January 18, this year, a day before the meeting in question, Mr. Yanson was also elected as president and chairman of Mindanao Star Bus Transport, Inc., another firm of the Yanson Group which is considered as the biggest public bus transport company in Asia. Fortun said his clients will file a separate lawsuit in connection with the January 18 stockholders meeting which they also deem as illegal.         The four heirs of Ricardo Yanson Sr. were in Cagayan de Oro City February 12 for the annual stockholders meeting of yet another company owned by the group, Rural Transit of Mindanao, Inc.           Fortun threatened that if the other Yanson faction will call for a separate stockholders meeting, he will file another lawsuit on the matter on behalf of his clients. The other faction –now also colloquially known as Yanson 3 – is already facing a lawsuit earlier this year in Bacolod and Batangas in connection with the stockholders meeting they called for Vallacar Transit Corporation, yet another firm owned by the group.

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25th WORLDBEX ALL SET FOR MARCH 2020

February 12, 2020

Now in its 25th year, The Philippine World Building and Construction Exposition or simply WORLDBEX is all set for March 18 to 22, 2020 at the Philippine International Convention Center, World Trade Center Metro Manila, and the SMX Convention Center. With close to 1,000 exhibitors and 188,000 expected visitors, WORLBEX 2020 aims to deliver a top notch and groundbreaking construction and design show.      An exhibitor orientation was held last Feb 4, 2020 at the Philippine International Convention Center which is the same venue that will complete this year’s triad of venues making it WORLDBEX most exciting edition yet. During the orientation, key points were discussed to equip all the exhibitors with a comprehensive guide they need for this year’s 5-day event . The topics ranged from ingress, event proper and egress reminders which include rules and regulations, program and event highlights, pocket activities, as well as important dates and schedules to remember. Part of the highlight is the relaunch of the WORLDBEX App with a new look, improved user experience and interface for this year’s expo.  This year’s line-up consists of both local and international exhibitors who have been partners with WORLDBEX for many years.       WORLBEX 2020 commits to prioritize the safety of all the participants in relation to the recent Ncov situation. The organizers prepared certain key measures for the safety of the attendees as recommended by the Department of Health and World Health Organization. There will be mandatory body temperature check on all entry points, Hand sanitizers will be readily available at the venues. A medical team will also be on stand-by in case of emergencies.      Also highlighted during the orientation was the contract signing between Worldbex Services International executives and WORLDBEX sponsors.Partner associations were also present to grace the contract signing.       Organized by Worldbex Services International, WORLDBEX 2020 is happening on March 18 to 22, from 10:00 am to 7:00 pm at the Philippine International Convention Center, World Trade Center Metro Manila, and the SMX Convention Center. For more information, call (02) 8656-9239, email inquire@worldbexevents.com, or follow @worldbex on Facebook and Instagram. Pre-register for free at www.worldbex.com.

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SEC promotes One Person Corporations

February 12, 2020

The Securities and Exchange Commission is promoting the creation of One Person Corporations (OPCs) to address operational and organizational issues inherent in the single proprietorship and regular corporations of the country.      “Among the issues addressed by the OPCs are the proliferation of intra-corporate squabbles affecting decision making, liabilities of single proprietorship owners inherent in sole proprietorships, and reportorial and other requirements inherent in the business forms allowed under the old Corporation Code,” said Lee Franco P. Magtrayo, Security Specialist of the SEC Cagayan de Oro Extension office during a seminar on the topic held last January 31st.      “One of the key revisions of the Revised Corporation Code (Republic Act no. 11232 or the RCC) which became effective Feb. 23, 2019, (replacing Batas Pambansa Bldg. 68), and removing the minimum number of incorporators required to organize a corporation and allowed the formation of one-person corporation, a corporation with a single stockholder and without a minimum authorized capital stock required,” he added.      “As early as the late 80s and early 90s we had already identified that our law on corporations needed to be proactive and dynamic. During our annual strategic planning, we identified provisions in the Corporation Code that we encountered at our level that needed to be amended.,” said Atty. Renato V. Egypto, regional director of the SEC Cagayan de Oro Extension office.      “However, our recommendations did not prosper beyond the committee level in both houses of Congress,” he added. “It was only last year that the new law and amendments to the old Corporation Code were operationalized.”      Egypto said the roll-out of the OPCs was further delayed by the slow response time on verification of OPC names last year. However this process has been expedited and so far 34 OPCs have already been registered with the SEC CDO Extension Office.      “Starting this month, we will hold roadshows outside the city and region in addition to our present in-house seminars,” Egypto noted. “We will be closely coordinating with the chambers of commerce and this will be a year round activity in response to the clamor of businessmen.”      Following are some of the salient features of OPCs discussed during the recent orientation seminar:      A one person corporation (OPC) is a corporation with a single stockholder, who can only be a natural person, trust or estate. The incorporator of an OPC being a natural person must be of legal age.      As an incorporator, the ‘trust’ as used by the law does not refer to a trust entity, but as subject being managed by a trustee.      If the single stockholder is a trustee, administrator, executor, guardian, conservator, custodian, or other person exercising fiduciary duties, proof of authority to act on behalf of the trust or estate must be submitted at the time of incorporation.      The suffix “OPC” should be indicated by the one person corporation either below or at the end o fits corporate name.      The OPC is not required to have a minimum authorized capital stock except as otherwise provided by special law. Section 12 provides that Corporations shall not be required to have a minimum capital stock, except as otherwise specifically provided by special law capital stock required.      Not allowed to form OPCs are banks, non-bank financial institutions, quasi-banks, pre-need, trust and insurance companies, public and publicly listed companies, non chartered GOCCs.      A natural person who is licensed to exercise a profession may not organize as an OPC for the purpose of exercising such profession except as otherwise provided under special laws.      A foreign natural person may put up an OPC, subject to the applicable constitutional and statutory restrictions on foreign participation in certain investment areas or activities.      The single stockholder shall be the sole director and president of the OPC. He or she may not be appointed as corporate secretary but may assume the role of treasurer. The single stockholder who also assumes the position of Treasurer shall post a surety bond to be computed based on the authorized capital stock of the OPC.      The single stockholder is required to designate a nominee and alternate nominee named in the Articles of Incorporation in the event of death and incapacity.  The written consent of both the nominee and alternate nominee shall be attached to the application for incorporation.      The single stockholder may, at any time, change its nominee and alternate nomine by submitting to the Commission the names of the new nominees and their corresponding written consent. The Articles of Incorporation need not be amended.      In case the single stockholder becomes incapacitated, the nominee can take over the management of the OPC as director and president. At the end of the incapacity, the single stockholder can resume the management of the OPC.      In case of death or permanent incapacity of the single stockholder, the nominee will take over the management of the OPC until the legal heirs of the single stockholders have been lawfully determined and the heirs have agreed among themselves who will take the place of the deceased or disabled.      The OPC is not required to submit and file its Bylaws.      The OPC shall file its Articles of Incorporation (AI) in accordance with the requirements of Section 14 of the RCC.      The AI must set forth its primary purpose, principal office address, term of existence, names and details of the single stockholder, the nominee and alternate nominee, and the authorized, subscribed, and paid-capital and such other  matters consistent with law and which may be deemed necessary and convenient.      For more details contact Lee Franco P. Magtrayo, tel # (088) 857-4325 or email lfpmagrtrayo@sec.gov.ph

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USTP ALUMNI COMES HOME TO CELEBRAR!

January 6, 2020

The institution may have changed names over the years but the fact remains - her dear alumni never forget to come home.      On December 27, 2019, the University of Science & Technology of Southern Philippines (USTP) Cagayan de Oro Campus warmly opened its doors to the alumni from various batches for a night of merrymaking, reconnecting and paying tributes to the feats of its former students.      The Dr. Ricardo Rotoras Hall of USTP became abuzz as the alumni flocked to the venue to mingle with their batch mates and reminisce with fellows their journey while being part of the school. Close to 800 members of the USTP Alumni Federation attended the first grand homecoming aptly coined, “Celebrar!”       Hosted by Jane Abaday and Ezel Lambatan, the event rounded up musical numbers, dances, raffle, fellowship, endless photo sessions and games that filled the festive evening and capped the day-long affair and truly captured the event’s theme, “Reconnecting Lives: Celebrating Alumni Stories” Hailed as the Largest Participating Batches were Class of 1994 and Class of 1988 while the title of the Oldest Participating Batch for this year was awarded to Class of 1961.      University officials were present to grace the affair and formally welcomed the participants. Newly elected university system president, Dr. Ambrosio Cultura II and the university chancellor, Atty. Dionel Albina. Also present were the dynamic team of the 2019 USTP Alumni Federation headed by its president, Jason Jay Dalman.      Earlier in the day, the homecoming reunion started with a General Assembly at the USTP Performing Arts Theater where the current federation board of officers laid to the membership the accomplishments, plans, and current status of the organization. Alumni members were also given the chance to reconnect with former classmates and friends.      The Alumni Federation General Elections were also conducted during the one-day celebration. The call to serve the USTP Alumni community was passed on to the following new members of the Board:      Erah Delos Reyes      Prof. Romeo De Asis      Rev. Fr. Max V. Ceballos, SSJV      Joshua Jones Waban      Lea May Caburatan      Josel Lim      Nicole Adelle Tacandong      Ruel Baron      Esther Joy De Asis      Melanie Ordeniza      Jason Jay Dalman      A Blood Letting activity in partnership with the Philippine Red Cross also took place. This is part of the Alumni Federation’s commitment to serve the community and help in nation building. Participating alumni and current students took part in the said project.      It is hoped that in the coming year, a grander, more festive, and even bigger grand reunion will take place as USTP moves forward into a new era of excellence and unparalleled feats.

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Trucking industry gets a boost in Butuan City

November 27, 2019

* Hino Motors opens dealership in Butuan BUTUAN City’s vibrant economy has ushered in investments in the trucking industry, the latest of which is the opening yesterday of Hino Motors Philippines dealership and showroom along the city’s main thoroughfare in Barangay Libertad. Hino Motors Philippines (HMP), Inc. is the country’s leading truck manufacturer and its new branch inButuan City will serve its valued patrons in the five provinces if Caraga including consumer-rich Butuan and Surigao cities.      Bannered under the umbrella of Toyota Group, Hino Butuan City offers the same brand of quality sales, parts and services that has marked its other more than 20 dealerships nationwide.      Located along Km. 5, National Highway, Libertad in the regional capital of Butuan City, the presence of the Hino dealership here is expected to boost the economy in this side of Mindanao, especially those in the trucking business.      Among the models available in Hino Butuan City are the Hino 300 Series, Hino PUV, Hino 700 Series and Hino Bus.      Yesterday's opening was led by no less than Hino Motors Philippines president Mitsuharu Tabeta, Butuan City Mayor Ronnie Vicente Lagnada and Hino Butuan City president Betty Lu.      Aside from manufacturing vehicles and bodies, Hino Motors Philippines also distributes genuine Hino parts and accessories and provides long-term maintenance services to its clients. It is also the only company which offers customization thus becoming a “one-stop shop” – from chassis assembly to building the body based on the desired specification of the client and further to vehicle maintenance, repair and refurbishing.      Hino Motors Philippines Corporation is the first bus body manufacturer in the country to receive ISO 9001:2000 Certification, a distinction that serves as a proof of unmatched product quality. It’s leadership in the industry can be attributed to the durability and cost-effectiveness of Hino products and this is reflected in its tag line “Hino - Global brand, lifetime value.”      This year, the company became an avid supporter of the government's PUV modernization program.      In 2019 alone, the company has distributed 400 PUV units nationwide.

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Planting seeds of grassroots football in Mindanao

October 7, 2019

THE Mindanao Cup set at the Tiongko Field in Davao City on Oct. 22-25, will be the start of the revival of the grassroots development of the beautiful game here in Mindanao.      Organized by the local FA and the supported by the Negros Occidental Football Association (NOFA) under Ricky Yanson Jr., the tournament is for players born 2008-2009.       The tournament is envisioned by Yanson to discover young talents to play in the different national teams in the future.       The Mindanao Cup is the spill over of the five-year grassroots effort of Yanson in Negros Occidental, the NOFA Cup. The tournament held every summer at the Sta. Maria fields Talisay City since 2014, has become a showcase of young talents nationwide.       Out from the NOFA Cup young talents like ‘Whiz Kid’ from San Carlos City, Negros Occidental Elizah Zedric Ballesteros, the ‘Little Maradona’ from Kidapawan Kurt Sarip, ‘The Tiny Messi’ from Muntinlupa Jax Pena, Julio Yoldi from Dumaguete City, Lucas Andan, Adrian Bacolod, Earl Siconieguem,Viggo Louis Herce have emerged and have already represented the country in various age group competitions abroad.       The Mindanao Cup will be the start of the formal planting of the grassroots of the sport in Mindanao and it takes a Negrense, Ricky Yanson Jr. to do the initiative.       Does anyone remember a Mindanawnon initiating grassroots program for football in the island? This tournament will surely boast the grassroots development of the sport in the island where grassroots development has long been forgotten by the football gods.       When was the last time that there has been a grassroots development program in Mindanao or probably in the country? It has been a long time and I can’t even remember it now.      No wonder why our age group teams are whipping boys in any international tournaments abroad. The 17 local football associations affiliated with the PFF are excited about this tournament and most of them are expected to send teams to the weeklong competition.       Football is very popular in Mindanao. Just watch the different football festivals organized by local FA and you can just ask the question where do these players come from.       The players come in different sizes, different ages, boys and girls, men and women. They come in droves just to have a chance of kicking the football and competing against other teams.       These festivals sprout every weekend in every corner where there is a football pitch. In every big city fiesta celebration there is always a football fiesta.       Two weekends ago there was the Diyandi Football Festival in Iligan. A week prior to the Diyandi Football Festival, there was the Rep. Siao Festival also in Iligan. Last weekend the town of Initao in Misamis Oriental, through its local government also held its own football festival. This weekend, Dipolog will host its own football festival and after that more festivals are held all over the island.       These festivals are organized by individuals or local football FA’s without any support from the PFF. Sometimes local politicians fund these events like Mayor Regencia and Rep. Siao in Iligan and the Guingonas in Gingoog or the LGU of Dipolog.       These festivals attract hundred of teams from different age levels. They are magnets of politicians, sponsors and players. These festivals are the only source of competitions among our young players aside from the Department of Education Palaro eliminations.       Despite of the lack of a grassroots program in the island there are countless good players in and the best are plying their trade in the collegiate leagues in Manila. Just check the lineups of the different teams in the UAAP and in the NCAA. They are abundant with players from Mindanao.       The Mindanao Cup will only be the start of many grassroots program to come initiated by Ricky Yanson Jr. With his resources and his love for the sport, the golden age of grassroots football in our country is coming and the future of the beautiful game is bright. (Jack Biantan)

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