Title/Description: Meeting between Compliance Department and Mr. Hector Sy

Date: August 19, 2020 Started: 2:00pm Adjourned: 3:00pm Venue: Lounge-AACI Makati

I.    Resource Person: III.  Meeting Agenda/Lecture Flow:

II. Attendees:  
Hector Sy 1.      To update matters regarding the debt of Mrs.
Alma De Leon Margarita T. Chua of UNIAGRO with St. Claire
Alyanna Buenviaje Countertrade Corporation;
Imee Connie Dumlao
Katrizia Fauni
 
Items Taken Up Discussion Made
1.      Matters 1.1 Sir Hector discussed that Mrs. Margarita T. Chua of UNIAGRO has an
involving debt of existing debt of Php27,000,000 to St. Claire Countertrade Corporation;
Mrs. Margarita  
T. Chua of 1.2 As security to the debt, she lends two TCTs under the name of Jose Chua
UNIAGRO with and Yin’En Temple Inc to St. Claire Countertrade Corporation;
St. Claire  
Countertrade 1.3 Ms. Alma asked if the TCT was given as a collateral or payment of the debt ;
Corporation  
  1.4 Sir Hector said that the purpose of   the TCTs is only for security and the
  agreement is that it will not be registered;
   
  1.5. Mrs. Chua offered her land in Malabon as payment for her debt but Sir
  Hector mentioned that as per Sir Michael, they have no intention in acquiring the
  land since they are not into real estate business. Hence, this is the reason why
  they allow Mrs. Chua to pay in cash or in-kind such as but not limited to product
  supplies, trucking services, etc.; 
   
  1.6 Sir Hector also mentioned that Mrs. Chua already paid Php6,000,000.00, in
  cash and in-kind, decreasing the existing debt to Php21, 000,000. Recently, she
  paid sacks of rice amounting to Php600, 000; however, it is not yet accounted;
   
  1.7 As of July 2020, Mrs. Chua promised to pay the remaining debt of more or
  less 20 million at the end of the month once she sells her property in Malabon
  amounting to 300 million as she alleged or when her assets are liquidated.
 
2.      Clarification 2.1 There was a clarification with the SPA, Deed of Guarantee, and Real Estate
s on the matter Mortgage executed by St. Claire and Margarita Chua; The SPA needs to be
of SPA, Deed of clarified since some of the provisions are vague and unclear.
Guarantee, and  
Real Estate 2.2 As per Sir Hector, the Deed of Guarantee was supposed to be executed in
Mortgage relation to UNIAGRO’s order of rice from St. Claire. At first, they allow the
  transaction provided that UNIAGRO will guarantee the principal borrower.
  However, he also stated that the Deed of Guarantee will no longer be needed
 since the transaction did not push through;
 
 
2.3 Finally, before the meeting was adjourned, Ms. Alma asked the Compliance
 
Department to draft necessary documents as the best option for St. Claire
 
Countertrade Corporation.