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Vogt Tube - Ice machines P34A-P34F

In 1938, Vogt Ice revolutionized the ice making industry by introducing


the world’s first automatic sized icemaker. Today, Vogt Tube-Ice
machines enjoy as well-earned reputation as the most energy
efficient , dependable ice machines on the market.

Heavy-duty industrial construction, automatic operation, and the best


warranty in the business make the Vogt ice machines the only “clear”
choice for your ice making needs.

Three Ice Sizes Available:


Cylinder (Tube-Ice)
7/8’’ Diameter X 1’’ long
1 1/8’’ Diameter X 1’’ long
1 3/8’’ Diameter X 1’’ long

P34 Features:
25 Year Life expectancy
Up to 50 tons per day
Self Contained Packaged Unit
25 Year evaporator warranty
Stainless Steel Water Pump with TEFC Motor
Manufactured in accordance with the A.S.M.E. code
R404a or Ammonia Refrigerant
Controls U.L. Approved
Factory Tested and Certified
High Energy Efficiency
Options:
All Stainless Steel Construction
PLC Controls
Crushed Ice

www.vogtice.com
10/1/2010

Tube-Ice Machines

9'-1"

5" CONDENSER
WATER OUTLET

5" CONDENSER
WATER INLET

16'-0" 3" W ATER TANK


OVERFLOW
CONNECTION

3/4" FLUSH
WATER
CONNECTION

1" MAKE-UP WATER


CONNECTION

ICE 13" 2" DRAIN


DISCHARGE CONNECTION

18"
25

8'-6" 7'-9"

LEFT VIEW FRONT VIEW RIGHT VIEW

SPECIFICATIONS

MODEL P34A (Ammonia Refrigerant) MODEL P34F (R-404a Refrigerant)

WATER STANDARD CAPACITY, TONS PER 24 HOURS


TEMPERATURE 7/8" DIA. ICE 1 1/8" DIA. ICE 1 3/8" DIA. ICE 7/8" DIA. ICE 1 1/8" DIA. ICE 1 3/8" DIA. ICE
80 oF 37.7 43.6 39.3 40.0 44.6 41.3
70 oF 39.7 46.0 41.5 42.5 47.1 43.7
60 oF 41.9 48.5 43.9 45.0 49.9 46.5
50 oF 44.4 51.5 46.7 48.0 53.2 49.5
OPERATING: 24,000 OPERATING: 24,500 OPERATING: 24,500 OPERATING: 25,500 OPERATING: 26,000 OPERATING: 26,000
WEIGHT (LBS) SHIPPING: 20,500 SHIPPING: 21,000 SHIPPING: 21,000 SHIPPING: 22,000 SHIPPING: 22,500 SHIPPING: 22,500

STANDARD POWER: 460V, 3P, 60 Hz CONTROLS: 230 V, 1P, 60 Hz


ELECTRICAL (OPTIONAL ELECTRICAL ARRANGEMENTS ON REQUEST)
Vogt reserves the right to change designs and specifications without notice.

Operating Conditions:
The ice machine shall not be subjected to an
atmospheric temperature lower than 50 o F nor higher
than 90 o F without effect on performance. Water for
condensing and for ice making purposes shall be non-
corrosive.
The water shall be at a constant pressure not less
than 30 lbs. at the ice machine location. The
condition of the water to make satisfactory ice shall
be the sesponsibility of the purchaser.
Vogt Ice, LLC
1000 West Ormsby Ave.,
Louisville KY 40210
Phone: 502-635-3000
Engineered to Endure E-mail: info@vogtice.com
Revision 10/2010 (Printed in U.S.A.)
MODEL T-2150

TOWER
SPECIFICATIONS

Cooling Tower Systems, Inc.


196 Lower Cherry Street Macon, GA 31201
TF: 800.752.1905 F: 478.755.8304 www.coolingtowersystems.com info@coolingtowersystems.com
TOWER SPECIFICATIONS: MODEL T-2150
Design and Operating Conditions Water Distribution System Construction Materials

Tower Type: Counter Flow Induced Draft Stand Pipe: PVC

Water Flow Rate (GPM): 446 GPM Sprinkler Head: AC

Entering Water Temperature 95°F Sprinkler Pipes: PVC

Leaving Water Temperature 85°F Mechanical Equipment

Wet Bulb Temperature: 75°F Fan Unit: One Unit per Tower

Total Fan BHP: 5 HP Type: Axial Flow

Total Pump Head: 10’ Manufacturer: CTS

Drift Loss of Water Flow: 0.1% Diameter: 68 7/8”

Evaporation Loss of Water Flow: 0.93% Blade Material: AC

Design Wind Load: 41 lbs/sq. ft. Hub Material: AC

Structural Details Nominal Air Volume: 33,260 CFM

Overall Diameter: 130” Fan Motor

Overall Height: 90” Number of motors: One Unit per Tower

Dry Weight: 1,377 lbs. Type: Induction

Operating Weight: 6,181 lbs. Manufacturer: CTS

Basic Tower Construction Materials Insulation: F Class

Tower Support Frame Assembly - Rated HP: 5 HP

Casing: FRP Voltage and phase: 220/440V/3

Casing Supporters HDGS Piping Connections

Cold Water Basin FRP Primary Water Inlet Diameter 6”

Filling: PVC Primary Water Outlet Diameter: 6”

Filling Supports: HDGS Auto fill inlet diameter: 1”

Fan Guard HDGS Quick fill inlet diameter: -

Mechanical Equipment Supports: HDGS Overflow outlet diameter: 2”

Inlet Louvers: PVC Drain diameter: 1”

Bolts, Nuts & Washers: STS Water Flow (GPM): 446 GPM

Materials Key

FRP Fiberglass Reinforced Polyester STS Stainless Steel

HDGS Hot Dipped Galvanized Steel AC Aluminum Alloy Cast

Cooling Tower Systems, Inc.


196 Lower Cherry Street Macon, GA 31201
TF: 800.752.1905 F: 478.755.8304 www.coolingtowersystems.com info@coolingtowersystems.com
PARTS LIST: MODEL T-2150
FOR ASSEMBLY DIAGRAM  20-02 Inlet Louver  1 
20-03 PVC Frame  1 
Ref. No.  Description  QTY 
20-04 Louver Clip  1 
01-02 Ring Frame  4 
01-05 Truss Pipe Assembly  4  20-05 Louver Hook  - 
02-01 Water Sump  1  20-06 Lug Plate  1 
02-02 Outlet Nozzle  1  20-07 Wing Nut  4 
02-03 Inlet Nozzle  1  OTHERS  Bolts & Nuts  1 SET 
02-04 Over Flow Nozzle  1 
FOR TECHNICAL DIAGRAMS  
02-05 Drain Nozzle  1 
02-06 Automatic Filler Nozzle  1  Item Description Material QTY

02-07 Quick Filler Nozzle  1  1 Fan Motor - 1 pcs


02-08 Float Valve Assembly  1  2 V-Belt Reducer - -
02-09 Over Flow  1 
3 Motor Frame Assembly HDGS 1 set
02-10 Suction Strainer  1 
02-12A Connector Pipe  1  4 Fan Blade Assembly AC 1 set
02-13 Elbow  2  5 Fan Guard HDGS 1 set
02-16 Elbow  1 
6 Casing FRP 6 pcs
03-01 Water Basin  6 
7 Hand Hole EVA 1 pcs
04-00 Casing Supporter  6 
04-02 Stiffener Ring - 1  -  8 Sprinkler Head Nylon 1 set
05-01A Casing  6  9 Sprinkler Pipes PVC 4 pcs
05-06 Hand Hole Cover  1 
10 Eliminator PVC 4 pcs
06-01 Stand Pipe  1 
06-02 Stand Pipe Base  1  11 Tension Device - -
06-03 Packing  1  12 Stand Pipe PVC 1 set
07-02 Column  1  13 Filling PVC 1 set
08-01 Filling Supporter - A  6 
14 Stopper or Column AC 1 set
08-02 Filling Supporter - B  6 
08-03 Filling Supporter - C  12  15 Filling Supporter HDGS 1 set
08-04 Fill Supt. Clamping Band  12  16 Casing Supporter HDGS 6 pcs
10-01 Ladder (A Section)  1 
17 Inlet Louver PVC 1 set
10-02 Ladder (B Section)  1 
10-03 Ladder Bracket - A  2  18 Frame Assembly - -
10-04 Ladder Bracket - B  2  19 Water Basin FRP 5 pcs
11-01 Filling (Inner Section)  -  20 Water Sump FRP 1 pcs
11-04 Filling (1/4 Section)  8 
21 Ladder HDGS 1 set
11-06 Filling (1/6 Section)  - 
12-01 Sprinkler Head  1  22 Strainer PE 1 pcs
12-02 Center Post  1  23 Flange HDGS 2 pcs
12-03 Turnbuckle  4  24 Basin Supporter - -
12-04 Tension Wire  4 
13-02 End Cap  4 
13-03 Eliminator  4  Materials Key  

14-01 Frame Ass'y Main Pipe  2  FRP Fiberglass Reinforced Polyester


14-02 Frame Ass'y Main Pipe  - 
15-01 Motor Base  1  HDGS Hot Dipped Galvanized Steel
15-02 U-Bolt  - 
STS Stainless Steel
16-01 Motor  1 
16-02 Speed Reducer  1  AC Aluminum Alloy Cast
16-03 Fan Key  1 
16-04 Fasten Nut  1  Water Basin Sealing Material  

16-05 Lock Nut  -  Fiberglass 1 Set—A


17-01 Fan Hub  1 
17-02 Fan Blade  1  Polyester Resin 1 Keg—B
17-04 U-Bolt  - 
Catalyst 1 Bottle—C
18-01 Fan Guard  1 

Cooling Tower Systems, Inc.


196 Lower Cherry Street Macon, GA 31201
TF: 800.752.1905 F: 478.755.8304 www.coolingtowersystems.com info@coolingtowersystems.com
ASSEMBLY DIAGRAM: MODEL T-2150

Cooling Tower Systems, Inc.


196 Lower Cherry Street Macon, GA 31201
TF: 800.752.1905 F: 478.755.8304 www.coolingtowersystems.com info@coolingtowersystems.com
TECHNICAL IMAGE A: MODEL T-2150

Cooling Tower Systems, Inc.


196 Lower Cherry Street Macon, GA 31201
TF: 800.752.1905 F: 478.755.8304 www.coolingtowersystems.com info@coolingtowersystems.com
TECHNICAL IMAGE B & C: MODEL T-

Cooling Tower Systems, Inc.


196 Lower Cherry Street Macon, GA 31201
TF: 800.752.1905 F: 478.755.8304 www.coolingtowersystems.com info@coolingtowersystems.com
 

FOUNDATION DRAWING: MODEL T-2150

Cooling Tower Systems, Inc.


3170 Mercer University Dr., Macon, GA 31204
TF: 800.752.1905 F: 478.755.8304 www.coolingtowersystems.com info@coolingtowersystems.com
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THE INTRODUCTORY HIGHLIGHTS

The Philippine archipelago sits in the Western Pacific famously known as “ Pearl of the Orient Seas”
(Perla del mar de Oriente) from the term originated from Spanish Jesuit Fr. Juan J. Delgado, 1751. In
this Group of Island, to the west lies our “Last Frontier Island” known as Palawan which is among the
most biological diverse areas in South East Asia, the home of approximately 690,000 hectares of
terrestrial forest, 279 bird species, 379 kinds of corals and 69 kinds of reptiles, insects and also known
as one of the top fishing ground of the Philippines. It is also the place where we could find one of the
eight wonders of the world – the Puerto Princesa Subterranean River National Park, locally known as
the Underground River.

In the Southern part of Palawan lies a Municipality of Bataraza also the promising tourist spot in the
country and known as one of the top fishing area of Southern Palawan where the local and
international fishermen made the barangay Rio-Tuba as their docking area.

Rio-Tuba is approximately 200 km from the heart of Puerto Princesa City and 100 km. from the heart
of Narra Town Proper. Narra is also known as a Fishing Area of Palawan.

Palawan is also known as a most peaceful province. It’s here we find the welcoming attitude of its
residents charming tourists who keeps coming back, more so attracted by its longest and pristine
coastline, seafood delicacies, and the beckoning of El Nido and Coron. Because of its highly strategic
location and preserved nature wonders, it is well protected by the Armed Forces Units like the
Marines, The Philippine National Police, Coast Guards and any other related government authorities
protecting the tourist environment and business establishment in the whole province.

It was declared a priority of the President of the Republic of the Philippines, President Rodrigo
Duterte, to protect and maintain the peace and order of Palawan.

Thousands of fishing vessels local and international are present in the place and thus presents the
opportunity to supply the need for ice for their fishing needs.

Based on the above information gathered from the actual interview and marketing research we
coordinated within the municipal mayor of Bataraza Mayor Hadji Abraham Ibba thru his municipal
administrator Mr. Valentino D. Palasigue, to which he revealed to us their need for a good volume of
Ice Supply in the area including the Island of Balabac, Buliluyan and other fishing grounds in the
nearby areas.

In view of these, we prepared the design of 120 tons capacity of block Ice Plant facility and 40 tons of
Tube Ice Plant for the fishermans needs and some hotels and restaurant in the area. We have likewise
secured a documented marketing Joint Venture Agreement with one of the top cooperative knows as
the Palawan Aquamarine Product Agricultural Cooperative to be our sole distributor of our Ice Plant
Product and two other companies which is also our wing to distribute our Ice products Northern and
Southern Part of Palawan. Attached is the agreement and other pertinent documents in support of the
Feasibility Study that detail the plans of the proposed Ice Plant Project, the cost involved, and the
return of investment computations are hereto attached.

Moving forward, we are presenting one opportunity for select local or foreign investor and conduit
bank whose staple interest is to invest profitably in food security that highly impacts the livelihood of
coastal communities. Here we see the ice plant operation sowing the seeds of opportunity for all.
Feasibility Study

Name of Project : Gel-Tech Ice Plant


Block Ice and Tube Ice Manufacturing

Location : Brgy. Rio-Tuba, Bataraza, Palawan

Project Cost : 250,000,000.00

ROI : Within 60 months operation

Classification : Manufacturing of 100 tons block ice and 40 tons tube ice

Total Land Area : 10,000 sq. meters

No. of days to complete the project : 545 working days

I. Estimated Production per 24 hours operation,

Ice Blocks 660 pcs Ice blocks x 150kg per block 100 Tons
Tube Ice 1,000 Bags x 40kgs per bag 40 Tons

II. Expected Daily Sales from Consumers, Block Ice and Tube Ice, at 70% of capacity:
( at 70%, accounting for seasonality)

A. Gross daily Sales Forecast of Consumers, Block Ice Php 200,000

Name/Location of Consumers Daily Consumption UnitPrice (Php) Total Sales


Northern Palawan Area
1. Araceli (Town Proper) 20 blocks/day 500/block Php 10,000
2. Calandagan (Brgy. Proper) 20 blocks/day 500/block Php 10,000
3. Fishing Boats (Malampaya) 20 blocks/day 500/block Php 10,000
4. Ligit (Proper) 20 blocks/day 500/block Php 10,000
5. Dumaran (Town Proper) 20 blocks/day 500/block Php 10,000
6. Roxas (Town Proper) 20 blocks/day 500/block Php 10,000
7. Taytay (Town Proper) 30 blocks/day 500/block Php 15,000
8. El Nido (Town Proper) 30 blocks/day 500/block Php 15,000

Southern Palawan Area


1. Aborlan (Town Proper) 20 blocks/day 500/block Php 10,000
2. Narra (Town Proper) 30 blocks/day 500/block Php 15,000
3. Quezon (Town Proper) 30 blocks/day 500/block Php 15,000
4. Brooks Point (Town Proper) 40 blocks/day 500/block Php 20,000
5. Bataraza (town Proper) 40 blocks/day 500/block Php 20,000
6. Balabac (town Proper) 20 blocks/day 500/block Php 10,000
7. Rizal (town proper) 40 blocks/day 500/block Php 20,000
Gross Sales/Day, Block Ice 400 blocks (@150 kg) Php 200,000
or 60 tons

B. Gross daily Sales Forecast of Consumers, Tube Ice Php 467,000

Name/Location of Consumers Daily Consumption UnitPrice (Php) Total Sales


Northern Palawan Area
1. Araceli (Town Proper) 28 bags/day 400/bag Php 11,000
2. Calandagan (Brgy. Proper) 30 bags/day 400/bag Php 12,000
3. Fishing Boats 30 bags/day 400/bag Php 12,000
4. Ligit (Proper) 40 bags/day 400/bag Php 16,000
5. Dumaran (Town Proper) 40 bags/day 400/bag Php 16,000
6. Roxas (Town Proper) 100 bags/day 400/bag Php 40,000
7. Taytay (Town Proper) 100 bags/day 400/bag Php 40,000
8. El Nido (Town Proper 100 bags/day 400/bag Php 40,000

Southern Palawan Area


1. Aborlan (Town Proper) 60 bags/day 400/bag Php 24,000
2. Narra (Town Proper) 100 bags/day 400/bag Php 40,000
3. Quezon (Town Proper) 40 bags/day 400/bag Php 16,000
4. Brooks Point (Town Proper) 90 bags/day 400/bag Php 36,000
5. Puerto Princesa (City Proper) 290 bags/day 400/bag P 116,000
5. Bataraza (town Proper) 40 bags/day 400/bag Php 16,000
6. Balabac (town Proper) 40 bags/day 400/bag Php 16,000
7. Rizal (town proper) 40 bags/day 400/bag Php 16,000
Gross Sales/Day, Tube Ice 1,168 bags(40 kgs/bag) Php 467,000
Note: the Prices Php 500/block & 400/bag takes into consideration average transport costs.

C. Gross Monthly Sales Forecast of Consumers at 70% of Production

1. Block Ice Php 200,000


2. Tube Ice Php 467,000
Grand Total – Php 667,000/day or,

Projected Gross Proceeds per month= Daily Sales Proceeds x 30 days


= Php 20,016,000 per month.

D. Daily Protected Proceed Per Month Per Day and Expenses

A. Gross Sales Daily Php 667,000


Gross Proceeds derived from potential consumers per day
1. Block Ice 400 blocks (60 tons) Php 200,000
2. Tube Ice 1,168 Bags (46.720 tons) Php 467,000
Gross Daily Proceeds Php 667,000

Less:
Daily Manpower salaries Php 15,300
Manpower 3 shifts 24 hours operation
1. Plant Operators 3 @ 500/day Php 1,500
2. Plant Maintenance 3 @ 500/day Php 1,500
3. Plant Electrician 3 @500/day Php 1,500
4. Production Bagger 9 @ 400/day Php 3,200
5. Plant Company Guard 2 @ 500/day Php 1,000
6. Checker 3 @ 400/day Php 1,200
7. Cashier 3 @ 400/day Php 1,200
8. Executives 3 @ 1000/day Php 3,000
9. Salesman 6 @ 400/day Php 2,400
Total Salaries / day Php 15,300
Other Indirect Expenses Daily (including Plant Machineries) Php 85,000

1. Diesel and Oil Php 50,000


2. Miscellaneous Php 15,000
3. Subsistences Php 10,000
4. Contingencies Php 10,000
Total Php 85,000

V. Computational Analysis

1. Total Daily Gross Revenues Php 667,200


Less:
10% vat 66,700
Cost of sales 20,000
2. Net Revenues Php 580,400
Less:
3. Total Indirect Expenses Php 71,000
Daily Net Profit Php 509,400

Daily Net Profit, after Vat Php 509,400


Daily profit x 30 days
4. Monthly Net Profit Php 15,282,000

Less

4. Monthly Amortization Php 14, 166,000


Amount of Loan 250,000,000 (0.04 Interest per month)
Loan Paymen Intervat, 60 months Php 850,000,000
at 60 monthly payment Php 14,166,000.00

5. Monthly Operating Profit Php 1,116,000.00

VI. Return of Investments

ROI within 60 months operation


Projected no. of days to complete the project - 540 working days

Prepared by:

Enrique T. Gela Jr
Electro Mechanical Engineer

Noted by:

Engr. Domingo L. Chinel


Professional Mech. Engr.
Chairman of the Board
Gel-Tech Construction Industrial Corp.
FINANCIAL STUDY
On a 2 x 50 TONS BLOCK ICE PLANT & 40 tons tube Ice maker
PROPOSED TO BE ESTABLISHED IN
RIO-TUBA PALAWAN

I ITEMIZED LIST OF ESTIMATED INVESTMENT IN THE BUSINESS

1 Ice Plant Building and Machinery Foundation ( 1,584 SM ) PHP 110,000,000.00


2 Refrigeration Machinery and Installation 97,350,000.00
4 2 sets Genset & Accessories 16,000,000.00
5 Transformer and Wiring 8,000,000.00
6 Delivery Truck ( 4 Units ) 12,000,000.00
7 Deep well ( pumping equipment & installation ) 6,000,000.00
8 Legal & Representation expenses 650,000.00

TOTAL ESTIMATED INVESTMENT PHP 250,000,000.00


II ESTIMATED COST OF OPERATION PER MONTH

1 Electrical Energy = 3 x 110 kw x 24 hrs x 30 days x 9.50/kw 2,257,200.00


2 Water consumption @ 178.26 cu.m/day times per month 267,390.00
3 Salaries / Wages 595,500.00
4 Consumables 20,000.00
5 Cosultancy 30,000.00
6 Office Supplies 5,000.00
7 Spare Parts 15,000.00
8 Depreciation :
Building - 20 yrs @ 10 % ( By straight line method ) 412,500.00
Machinery - 15 yrs @ 15 % ( By straight line method ) 535,264.00
9 Others ( Three top management @ 30,000/mo.) 90,000.00

Total Estimated Cost of Operation per Month PHP 4,227,854.00

III ESTIMATED INCOME FROM THE BUSINESS PER MONTH


1 Designed Production Capacity of Plant per day 1,600 blocks
3 Designed Production Capacity of Plant per month 48,000 blocks
4 Average Selling Price per block Php @ 500.00/block PHP 24,000,000.00
5 Design capacity per 864 sacks/day @ 50 kilos per sack
6 Averager selling price per sack PHP 250 x 864 sacks x 30 days 6,480,000.00
TOTAL INCOME PER MONTH 30,480,000.00
Less a ) stimated cost of operation per month 4,227,854.00
LESS b ) Sales & Government Taxes @ 12 % VAT 3,690,000.00
b)Total Estimated cost of operation/month= 5,570,740.00

ESTIMATED NET INCOME PER MONTH PHP 22,562,146.00


Less principal Monthly payment of loan @ 18,000,000.00/mo 18,000,000.00
Estimated net income or savings per month of operation PHP 4,562,146.00
IV ESTIMATED RATE OF RETURN PER MONTH FROM THE BUSINESS
1 Rate of return per moth = Php 22,562,146.00/Php 250,000,000.00 9.00%
2 Rate of return per year ( 11.29 % x 12 mos. ) 108.29%
3 Cost of production per block (5,570,740.00/48,000 blocks = PHP 116.05 / block
4 Return / Recovery Period @ 18,000,000.00/mo. Payment 1 year & 4 months

NOTE : All above figures are flexible and subject to adjustments, depending upon actual
conditions prevailing, and obtaining in the locality such as cost of labor , building
materials and actual local taxes .

MAN POWER OF OPERATION SALARY PER DAY SALARY PER MONTH

One (1) - Operation Manager 800/day 24,000.00


Four (4) - Machine Operator ( 1- reliever ) 500/day 60,000.00
Three ( 3) - Cashiers 550/day 49,500.00
One (1) - Secretary 550/day 16,500.00
Twelve ( 12) - Brine Man & Baggers 400/day 144,000.00
Nine ( 9 ) - Helper or Ice Block Hauler 350/day 94,500.00
Three ( 3) - Guard 500/day 45,000.00

MARKETING

One ( 1) - Sales Man 600/day 18,000.00


Four ( 4 ) - Truck Drivers 500/day 60,000.00
Eight ( 8 ) - Helper 350/day 84,000.00

TOTAL MONTHLY SALARY 595,500.00


CLIENT INFORMATION SHEET (CIS)
Company or Corporate Information
Date Prepared: OCTOBER 04, 2021

In accordance with the Articles 2 through 5 of the Due Diligence Convention and the Federal Banking Commission Circular of December, 1998,
concerning the prevention of money laundering and Article 305 of the Swiss Criminal Code, the following information may be supplied to banks and/or
other financial institutions for purposes of verification of identity and activities of the Applicant described below, and the nature and origin of the funds
which are to be utilized. The foregoing is subject to agreement by all parties to whom this information is provided that they are obligated to respect
the privacy rights of the APPLICANT and all the Corporations/Individuals described herein, as well as the generally accepted professional standards
relations to the maintenance of confidential information, and to take all appropriate precautions to protect the confidentiality of the information contained
herein. This legal obligation shall remain in full force indefinitely without restriction. (This statement should be referenced to the AMLA of the
Philippines.)
Company Details
Company Name: GEL-TECH CONSTRUCTION INDUSTRIAL CORP.
Registration No.: 05625077
Registered Address: PUROK MAUNLAD, BRGY IRAWAN, PUERTO PRINCESA CITY, PALAWAN
Correspondence Address: PUROK MAUNLAD, BRGY IRAWAN, PUERTO PRINCESA CITY, PALAWAN
Telephone: mobile #: +63 9755983154
Facsimile: NA
Email Address: GELTECH.CORP@GMAIL.COM

Company Officers
Name: ENRIQUE T. GELA JR.
Name: DOMINGO L. CHINEL
Name: ROMEL M. RUAYA

Personal Applicant or Signatory of the Company


Full Name: ENRIQUE T. GELA JR.
Title, Designation: PRESIDENT/CEO
Nationality: FILIPINO
Passport/ID Card: (Please see attach copy of valid Government ID with photo-page and information details-page) D94200371326

Residential Address: PUROK MAUNLAD, BRGY. IRAWAN, PUERTO PRINCESA CITY, PALAWAN
Mailing Address: PUROK MAUNLAD, BRGY. IRAWAN, PUERTO PRINCESA CITY, PALAWAN
Telephone No.: NA
Mobile Phone No.: +639755983154
Email Address: GELTECH.CORP@GMAIL.COM

Legal Adviser Details


Legal Counsel: RIGOR B. TULALI
Address: BRGY. SAN JOSE, PUERTO PRINCESA CITY, PALAWAN
Telephone: NA
Facsimile: NA
Email Address: NA

Bank Information
Bank Name: METROBANK
Account Name: ETHEL MARIE M. GELA
Address: FORT – SEIBU, BONIFACIO GLOBAL CITY
Account Signatory: ETHEL MARIE M. GELA
Account Number: 4313 4315 2522 5
SWIFT Code: NA
IBAN/Routing Code: NA

Bank Officer Name:


Title/Designation: NA
Telephone Number: NA
Facsimile No.: NA
Email Address: NA
Declaration: I hereby swear under penalty of perjury, that the information provided is both true and accurate. I am the signatory on the aforementioned
bank account. All monies engaged in this transaction are derived from non-criminal origin; and, are good, clean and cleared. The origin of funds is in
compliance with Anti-Money-Laundering Policies as set forth by the Financial Action Task Force (FATF)6/10. (Shall conform to AMLA or Banking Law
of the Philippines.)

For and on behalf of


Signed this:

SIGNATURE HERE

Name: NA Title:
NA Passport No.
NA Nationality:
NA

Name: NA
Title: NA
Passport No.: NA
Nationality: NA
CIS PERSONAL INFO

CLIENT INFORMATION SHEET (CIS)


Personal Information
First Name: ENRIQUE JR.
Family Name: GELA
Gender: MALE
Date of Birth: JULY 15, 1955
Citizenship: FILIPINO

Passport Number/Postal ID Number: D94200371326


Issue Date: NA
Expiration Date: DECEMBER 04, 2023
Issuing Authority: PhilPost

Office Address
City: PUERTO PRINCESA
State/Province: PALAWAN
Country: PHILIPPINES
Postal Code: 5300
Telephone Number: NA
Fax Number: NA
Mobile Phone No.: +639755983154
Email Address: GELTECH.CORP@GMAIL.COM

Bank Information
Bank Name: METROBANK
Address: FORT-SEIBU TOWER, BONIFACIO GLOBAL CITY
City: TAGUIG
State: METRO MANILA
Country: PHILIPPINES
Postal Code: NA

Account Name
Signatory Name: ETHEL MARIE M. GELA
Account Number: 4313 4315 2522 5
IBAN Code: NA
SWIFT Code: NA

Bank Officer Name


Title/Designation: NA
Telephone Number: NA
Fax No.: NA
Email Address: NA
Declaration: I hereby swear under penalty of perjury, that the information provided is both true and accurate. I
am the signatory on the aforementioned bank account. All monies engaged in this transaction are derived from
non-criminal origin; and, are good, clean and cleared. The origin of funds is in compliance with Anti-Money-
Laundering Policies as set forth by the Financial Action Task Force (FATF)6/10. (Shall conform to AMLA or
Banking Law of the Philippines.)

Signed this:

SIGNATURE HERE

Name:
Title:
Passport No.:
Nationality:
JOINT VENTURE AGREEMENT
This Agreement is made and entered into by and between:

GEL-TECH CONSTRUCTION INDUSTRIAL CORPORATION, a company duly organized and existing under Philippine Laws is being represented by ENGR. ENRIQUE T.
GELA JR., of legal age, Filipino, and with office address at PUROK MAUNLAD, BRGY. IRAWAN, PUERTO PRINCESA CITY, PALAWAN, hereinafter referred to as the
FIRST PARTY;

-and-

, a company duly organized and existing under the laws of the Republic of the Philippines with the business address at
, Philippines and herein represented in this act by its President, ,
hereinafter referred to as the SECOND PARTY;

WHEREAS, the FIRST PARTY is the project proponent for the construction of and commercial establishments through reclamation of the
hectare lot located at TABON, QUEZON,

PALAWAN.;

WHEREAS, the Municipality of QUEZON has entered into a negotiation and agreement with the FIRST PARTY regarding the development, reclamation and
construction of the “PROPOSED ICE PLANT” with Commercial lot and therefore awarded the project with the approval of the Sangguniang Bayan through
Resolution No. 10-158.

WHEREAS, the FIRST PARTY invited the SECOND PARTY through a Joint Venture Agreement to fund the reclamation and construction of the “PROPOSED ICE
PLANT” with Commercial Establishments amounting to FOURTY MILLION USD ($40,000,000.00) offering a 60% (Sixty Percent) Net Profit Share for 30 (Thirty)
Years.

NOW, THEREFORE, for and in consideration of the foregoing premises, the parties hereby agree as follows:

EXCLUSIVITY PERIOD

The FIRST PARTY hereby agrees only to the SECOND PARTY with the exclusion of all others the sole and exclusive right to fund the reclamation and construction
of “PROPOSED ICE PLANT” with Commercial Establishments within the initial period of five (5) years from the time of the signing of this Agreement.

During the exclusivity period, the FIRST PARTY will not directly or indirectly or through any employee, agent, assignee, and other persons acting is such capacity,
solicit, initiate, encourage, offers, negotiate, propose to fund the above-named project to other parties.

PROFIT SHARING

The SECOND PARTY is entitled to the 60% of the net proceeds of the “PROPOSED ICE PLANT” with Commercial Establishments once operational and payable after
the payment of all the operational expense, taxes and all other incidental fees have been made.

Aside from the afore-mentioned profit-sharing scheme, the SECOND PARTY has no other financial obligation to the FIRST PARTY.

REMEDIES FOR BREACH

In the event that the FIRST PARTY violates the term of this Agreement, the SECOND PARTY, in addition to other remedies available under the laws, shall be entitled
to liquidated damages in the amount of , provided that the violation is due to acts and omissions attributable and caused primarily, directly n
exclusively by the FIRST PARTY and no other party including the SECOND PARTY is involved or figured out.

Nothing in the above provision will preclude the Second Party from seeking equitable relief or interim or provisional relief from court of competent jurisdiction,
including a temporary restraining order, preliminary injunction or other interim equitable relief, concerning a dispute either prior to or during any arbitration if
necessary to protect the interests of such Party or to preserve the status quo pending the arbitration proceeding., which reliefs and entitlements are also available
to the FIRST PARTY.

LIABILITY AND OBLIGATION FOR SECURING GOVERNMENT LICENSES AND COMPLIANCE ENVIRONMENTAL LAWS

The FIRST PARTY shall have the responsibility and obligation to obtain all required zoning, land use and other governmental regulations, laws, permits and approvals
that apply for the reclamation and construction of the “PROPOSED ICE PLANT” with Commercial Establishment, and the SECOND PARTY commits to provide the
FIRST PARTY the financial assistance needed to complete the Project.

The FIRST PARTY shall ensure that the reclamation and construction operation is compliant with all government regulations and environmental protection laws all
throughout the duration of this Agreement and the SECOND PARTY holds no responsibility for any breach or non-compliance with any government rules and
regulations., provided that there are no acts and omissions on the part of the SECOND PARTY contributory, direct or indirectly involved or causing the violation or
non-compliance.

NON-LIABILITY FOR DAMAGE AND INJURY

The SECOND PARTY does not hold itself liable for any damage or injury resulting in or from its operations under this Agreement, including injury to the government,
the tenants, employees, contractors, sub-contractors, licensees, and surface owners, and for any damage to, or destruction of property caused by the operations
under this Agreement., provided that there are no involvement whatsoever, no acts or omissions on the part of the SECOND PARTY, no fault whatsoever, directly
or indirectly, causing, resulting, or facilitating the damages or injuries among others.
GENERAL PROVISIONS

This Agreement constitutes the entire Agreement of the Parties on the subject hereof and supersedes all prior understandings and instruments on such subject
with the exception of matters or contingencies not yet existing, excluded and not covered the time of the execution of this agreement which are material an
indispensable for an effective implementation of this agreement. This Agreement may not be modified other than by a written instrument executed by duly
authorized representatives of the Parties.

Both Parties agreed upon signing this Agreement that the SECOND PARTY will have the right in supervision the project construction as well as in releasing funding
from the bank.

No waiver of any provision of this Agreement shall constitute a waiver of any other provision(s)or of the same provision on another occasion. Failure of either
Party to enforce any provision of this Agreement shall not constitute a waiver of such provision or any other provision(s) of this Agreement.

SEPARABILITY CLAUSE

If any provision of this Agreement is declared void or unenforceable by any judicial or administrative authority, this shall not nullify the remaining provisions of
this Agreement, provided that the cancellation of such provision does not substantially alter the economic interest of either party in the continued performance
of this Agreement.

IN WITNESS WHEREOF, both parties have caused this Joint Venture Agreement to be signed and executed by their representatives and have hereby understood,
agreed, and accepted the Terms and Conditions so stated herein with signatures affixed below.

IN WITNESS HEREOF, the parties have hereunto set their hands this day of 2021 in, Philippines.

GEL-TECH CONSTRUCTION INDUSTRIAL CORP. ENGR. ENRIQUE T. GELA JR.


FIRST PARTY PRESIDENT

COMPANY NAME NAME OF REPRESENTATIVE


SECOND PARTY PRESIDENT

Signed in the presence of:

NAME OF WITNESS NAME OF WITNESS


WITNESS WITNESS
ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES)) S. S.

BEFORE ME, a Notary Public for and in the, personally came and appeared the following persons to wit:

NAME ID NO. DATE AND PLACE OF ISSUE


ENGR. ENRIQUE T. GELA JR. POSTAL ID. NO. DECEMBER 4, 2020,
D94200371326 PHILPOST MANILA

Known to me and to me known to be the same persons who executed the foregoing Agreement and they acknowledged to me that the same is their free and
voluntary act and deed.

WITNESS MY HAND AND SEAL this day of , in the _______.

Doc No.
Page No.
Book No.
Series of 2021.
Mobile No: +63 975 598 3154
+63 967 524 0482
Email: geltech.corp@gmail.com
Office Add: Purok Maunlad, Brgy. Irawan
Puerto Princesa City, Palawan

ENGR. ENRIQUE T. GELA JR.


President/CEO
CONTRACT OF SALE

KNOW ALL MEN BY THESE PRESENTS:

This Contract of Sale is executed by:

MERCY D. KRAMER, Filipino, married to CHESTER KRAMER, German, and a resident of


Puerto Princesa City, herein referred to as “First Party.”

- and -

GEL-TECH CONSTRUCTION INDUSTIAL CORPORATION, a corporation existing under


the laws of the Philippines, with office address Purok Maunlad, Barangay Irawan, Puerto
princesa City. Represented herein by its President and CEO ENRIQUE T. GELA, Jr,
hereinafter referred to as the “Second Party.”

WITNESSETH:

WHEREAS, That the First Party is the owner of an undivided parcel of land covered by
Transfer Certificate of Title (TCT) No. 169276 situated in Barangay Irawan, City of Puerto
Princesa more particularly described by Bureau of Lands as follows:

“Lot 12 PCS-04-010026”

A parcel of land ( Lot 12 of the consol./subd. Plan Pcs-04-010026, being a portion of the
consolidation of E-53112, E-93914, & 198495, LRC Rec. No.), situated in the Bgy of Irawan,
City of Puerto Princesa. Bounded in the SE., along line 1-2 by lot 10, on the SW., along line
2-3 by lot 11 on the NW., along line 3-4 by lot 28, and on the NE., along line 4-5 by lot 27,
along line 5-1 by lot 13, all of the consil./subd. Plan. Beginning at point mark “1” on plan
being N., 7 deg. 26’E., 869.60 m. from BLBM No. 2, Barrio of Irawan, City of Puerto Princesa,
26’E., 869.60 m. from BLBM No. 2, Barrio of Inagawan, City of Puerto Princesa.

Thence S., 76 deg. 46W., 307.1 m. to point 2;


Thence N., 42 deg. 01’W., 76.39 m. to point 3;
Thence N., 68 deg. 56’E., 369.81 m. to point 4;
Thence S., 23 deg. 49’E., 4.00 m. to point 5;
Thence S., 23 deg. 49’E., 82.64 m. tothe point of beginning
Containing an area of Twenty Five Thousand (25,000) Square Meters. All points referred to
are indicated on the plan and are marked on the ground by PS cyl. Conc. Mons. 15 x 60 cm.,
bearing true, date of original survey, August 3, 1929 and that of the subd. Survey, May 5-10,
1995 and was approved on October 16, 1995….

WHEREAS, that the first party is willing to sell 1,708 square meter portion of the above
described property to the second party under the following conditions, to wit:

1. The purchase price of the 1,708 square meter is valued at Seventeen Million Pesos
(Php 17,000,000);
2. Will not entertain further buyers of the property described above for the next Ninety
days upon signing of this document, reserving the above property to the Second Party.
3. The second party will pay in full cash as stipulated within the period, or upon release of
the first party’s loan.
4. The FIRST PARTY undertakes to settle the entire property obligation covered by TCT
No. 169276 with provision containing the terms of this contract, and;
5. The FIRS PARTY shall transfer the 1,708 square meter portion of the above-described
property to the second party free from liens and encumbrances and shall execute and
surrender all other necessary documents needed by the second party to register said
portion to its name upon full payment of its purchase price.

IN WITNESS WHEREOF, the Parties affix their signature this __________________________


In ________________________________________________.

MERCY D. KRAMER ENRIQUE T. GELA, Jr.


First Party Second Party

1
SIGNED IN THE PRESENCE OF:

_____________________________________ __________________________________

ACKNOWLEDGEMENT

REPUBLIC OF THE PHILIPPINES )


_______________________________ )

X ---------------------------------------------------------X

BEFORE ME, a notary public for and in the ___________________________


Came and personally appeared before me the above named parties, known to
me and to me known to be same persons who executed the foregoing
instrument, and acknowledged to me that the same is their free and
voluntary act and deed.

This instrument consisting of TWO (2) pages including the page has been
signed on the left margin of each and every page thereof by the PARTIES and
their witness and seal by my notarial seal.

IN WITNESS WHEREOF,I have hereunto set my hand this


_____________________, In _____________________________________.

Doc No. _______


Page No. _______
Book No._______
Series of 2020.

2
ARTICLES OF INCORPORATION AND BY-LAWS-STOCK CORPORATION
Articles of Corporation
Of
GEL-TECH CONSTRUCTION INDUSTRIAL CORPORATION
(Name of the Corporation)

KNOW ALL MEN BY THESE PRESENTS:


The undersigned incorporators all of legal age and majority of whom are residents of the
Philippines, have this day voluntarily agreed to form a stock corporation under the laws of the Republic of
the Philippines;

AND WE HEREBY CERTIFY:

FIRST: That the name of said corporation shall be


GEL-TECH CONSTRUCTION INDUSTRIAL CORPORATION
SECOND: That the primary purpose for which such corporation is incorporated:
To purchase, acquire, own, lease, sell and convey real properties such as land, buildings,
factories, warehouse machineries, equipment and other personal properties as maybe necessary or
incidental to the company business.
Provided that the corporation shall not solicit, accept or take investments/placements from the public,
neither shall it issue investment contracts.

THIRD: That the principal office of the corporation is located at


Purok Maunlad, Brgy. Irawan, Puerto Princesa City, Palawan 5300.
BY-LAWS
Of
GEL-TECH CONSTRUCTION INDUSTRIAL CORPORATION
(Name of the Corporation)

I. THE TIME, PLACE AND MANNER OF CALLING AND CONDUCTING REGULAR


OR SPECIAL MEETINGS OF THE DIRECTORS.

a) Regular meetings of the board of directors of the corporation shall be held monthly unless
the by-laws provide otherwise.

b) Special meetings of the board of directors may be held at any time upon the call of the
president or as provided in the by-laws.

c) Meetings of directors may be held anywhere in or outside of the Philippines unless the by-
laws provide otherwise. Notice of regular or special meetings stating the date, time and
place of the meeting must be sent to every director or trustee at least one (1) day prior to
the scheduled meeting, unless otherwise provided by the by-laws. A director may waive
this requirement either expressly or impliedly;

II. THE TIME AND MANNER OF CALLING AND CONDUCTING REGULAR OR


SPECIAL MEETINGS OF THE STOCKHOLDERS.

a) Regular or annual meetings of stockholders shall be held annual on every first Saturday of
December.

b) Written notice of regular meetings shall be sent to all stockholders of record at least two
(2) weeks prior to the meeting unless a different period is required by the by-laws.

c) Special meetings of stockholders shall be held at any time deemed necessary or as


provided in the by-laws;

III. FISCAL YEAR

a) The fiscal year of the corporation shall begin on the first day of January and end on the last
day of December of each year;
FOURTH: That the term for which said corporation is to exist 50 years from and after the date of
issuance of the certificate of incorporation;
FIFTH: That the names, nationalities and residences of the incorporators are as follows:

NAME NATIONALITY TIN No. RESIDENCE


(With House No., Street and
Baranggay)

Enrique T. Gela Jr. Filipino 757-047-260 Purok Maunlad, Brgy. Irawan


Puerto Princesa City, Palawan
Aurello S. Cagampang Filipino 191-744-609 325 Bangkulasi, Navotas City
Ivy E. Yanson Filipina 277-403-119 Brgy. Westcum, Puerto Princesa,
City Palawan
Edgar G. Orpilla Filipino 121-441-669 4th Flr. B15-L8, Phase 2
Pinagsama Village, Taguig City
Romel M. Ruaya Filipino 235-133-610 200 Eldurado St., Better Living Subd.
Brgy. Don Bosco, Parañaque
Elsa C. Celoso Filipina 144-261-977 Brgy. Bangkulasi, Navotas City
Domingo L. Chinel Filipino 108-248-174 19 Mayon St., Cor. Samat,
Hacienda Heights Village,
Conception, Marikina
Ramon T. Magallanes Filipino 742-781-056 Napocor Road, Purok Milagrosa,
San Manuel, Puerto Princesa City,
Palawan
Ethel Marie M. Gela Filipina 267-816-434 Blk 2 Lot 12, Kalayaan Village
Pasay City
Lorenzo S. Toral III Filipino 290-581-189 Unit 1114 – Studio I, North Gate
Cyberzone, Alabang, Muntinlupa City
Norabeth J. Palay Filipina 928-061-318 187 Jacana Rd., Bancao-Bancao
Puerto Princesa, Palawan
Felix B. Valle Filipino 154-693-959 Blk 3, lot 1, Kalikasan Muual Homes
Sn Pedro, Puerto Princesa City, Palawan
Benilda O. Robles Filipina 140-915-66266 145-C Manalo St, Bgy Tanglaw
Puerto Princesa City, Palawan
Mercy D. Kramer Filipina 429-945-108 Brgy. Irawan, Palawan
Letecia P. Arzaga Filipina 920-628-811 309C Malvar St., Brgy. Mandaragat
Puerto Princesa City, Palawan
Dulcesma G. Villasis Filipina 142-661-236 Sunflower Tinigiban,
Puerto Princesa City
Maricel Zerrudo Filipina 384-228-340 Sitio Baing, Brgy. Maurengen
Araceli, Palawan
SIXTH: That the number of directors of the corporation shall be 11 (eleven) and the names,
nationalities, and residences of the first directors of the corporation are as follows:

NAME NATIONALITY TIN No. RESIDENCE


(With House No., Street and
Baranggay)

Domingo L. Chinel Filipino 108-248-174 19 Mayon St., Cor. Samat,


Hacienda Heights Village,
Concepcion, Marikina
Edgar G. Orpilla Filipino 121-441-669 4th Flr. B51-L8, Phase 2,
Pinagsama Village, Taguig City
Romel M. Ruaya Filipino 235-133-610 200 Eldurado St., Better Living Subd.
Brgy. Don Bosco, Parañaque
Norabeth J. Palay Filipina 928-061-318 187 Jacana Rd., Bancao-Bancao
Puerto Princesa, Palawan
Elsa C. Celoso Filipina 144-261-977 Brgy. Bangkulasi, Navotas City
Ethel Marie M. Gela Filipina 267-816-434 Blk 2 Lot 12, Kalayaan Village
Pasay City
Lorenzo S. Toral III Filipino 290-581-189 Unit 1114 – Studio I, North Gate
Cyberzone, Alabang, Muntinlupa City
Benilda O. Robles Filipina 140-915-66266 145-C Manalo St, Bgy Tanglaw
Puerto Princesa City, Palawan
Felix B. Valle Filipino 154-693-959 Blk 3, lot 1, Kalikasan Muual Homes
San Pedro, Puerto Princesa City,
Palawan
Mercy D. Kramer Filipina 429-945-108 Brgy. Irawan, Palawan

Letecia P. Arzaga Filipina 920-628-811 309C Malvar St., Brgy. Mandaragat


Puerto Princesa City, Palawan
SEVENTH: That the authorized capital stock of the corporation is Two Million, Five Hundred
Thousand (Php 2,500,000.00) pesos in lawful money of the Philippines, divided into Two Million, Five
Hundred (2,500,000) Shares with the par valued of 1 peso (Php 1.00) per share.

EIGHT: That at least twenty-five percent (25%) of the authorized capital stock above has been
subscribed as follows:

NAME of No. of SHARES AMOUNT TOTAL PAID


SUBSCRIBERS SUBSCRIBED SUBSCRIBED UP

Enrique T. Gela Jr. 152,000 Php 152,000 Php 38,000


Aurello G. Cagampang 56,000 Php 56,000 Php 14,000
Ethel Marie M. Gela 52,500 Php 52,500 Php 13,125
Domingo L. Chinel 52,500 Php 52,500 Php 13,125
Lorenzo S. Toral III 44,000 Php 44,000 Php 11,000
Felix B. Valle 44,000 Php 44,000 Php 11,000
Maricel R. Zerrudo 32,000 Php 32,000 Php 8,000
Dulcesma G. Villasis 28,000 Php 28,000 Php 7,000
Edgard G. Orpilla 24,000 Php 24,000 Php 6,000
Romel M. Ruaya 24,000 Php 24,000 Php 6,000
Benilda O. Robles 24,000 Php 24,000 Php 6,000
Mercy D. Kramer 20,000 Php 20,000 Php 5,000
Ivy E. Yanson 20,000 Php 20,000 Php 5,000
Ramon T. Magallanes 16,000 Php 16,000 Php 4,000
Elsa C. Celoso 16,000 Php 16,000 Php 4,000
Letecia P. Arzaga 12,000 Php 12,000 Php 3,000
Carmelo A. Cortes 8,000 Php 8,000 Php 2,000
NINTH: That Dulcesma G. Villasis has been elected by the subscribers as Treasurer of the
Corporation and Maricel Zerrudo as assistant treasurer to act as such until his successor is duly elected and
qualified in accordance with the by-laws, and that as such Treasurer, she has been authorized to receive for
and in the name and for the benefit of the corporation, all subscriptions or donations paid or given by the
subscribers.

TENTH: That no transfer of stock or interest which will reduce the ownership of Filipino Citizens
to less than the required percentage of the capital stock as provided by existing laws shall be allowed or
permitted to be recorded in the proper books of the corporation and this restriction shall be indicated in all
the stock certificates issued by the corporation.

ELEVENTH: That the incorporators and directors undertake to change the name of the corporation
as herein provided, or as amended thereafter, immediately upon receipt of notice or directive from the
Securities and Exchange Commission that another corporation, partnership or person has acquired a prior
right to the use of that name or that name has been declared as misleading, deceptive, confusingly similar
to a registered name of contrary to public morals, good custom.
GEL-TECH CONSTRUCTION INDUSTRIAL CORPORATION

Board Resolution No. 2019001

AUTHORIZING Engineer ENRIQUE T. GELA, Jr. TO REPRESENT, NEGOTIATE, SIGN FOR and ENTER INTO
CONTRACTS IN BEHALF OF GEL-TECH CONSTRUCTION INDUSTRIAL CORPORATION. FURTHER, THAT
THE PRESIDENT/CEO AND THE CHAIRMAN OF THE BOARD, DOMINGO L. CHINEL, BOTH TO REPRESENT
THE COMPANY IN ALL FINANCIAL MATTERS RELATED TO LOAN RELEASES.

PRESENT AT THE BOARD MEETING:

Enrique T. Gela Jr. :__ _____________________


Domingo L. Chinel :_________ ______________
Romel M. Ruaya :________________________
Edgar G. Orpilla :________________________
Ethel Marie M. Gela :___ _____________________
Lorenzo S. Toral :_________ _______________
Elsa C. Celoso :________________________
Benilda O. Robles :________________________
Felix B. Valle :________________________
Letecia P. Arzaga :________________________
Mercy Kramer :________________________
Norabeth J. Palay :________________________;

and

Carmelo A. Cortes as Corporate Secretary

1. Whereas, in view of the pending loan approval the amount of Php 250,000,000.00 (Two
Hundred Fifty Million Pesos) in favor of Gel-Tech Construction Industrial Corporation for the
construction, operation and profitable marketing of Tube Ice and Block Ice in Palawan province.
2. Whereas, the need of the corporation to undertake and commence negotiation, to purchase
industrial goods, to hire employees, to conduct further research, to acquire land, to contract
parties for the construction of facilities, leading to full operation.
3. The Board of Directors, in full attendance, hereby resolve to authorize Engineer ENRIQUE T.
GELA, Jr., in his capacity as President and Chief Executive Officer, to represent, negotiate, to sign
and enter into contract for and in behalf of Gel-Tech Construction Industrial Corporation in
pursuance of the above stated purposes.
4. Further resolved, that Engineer Enrique Gela and Engineer Domingo L. Chinel represent the
Company over all financial matters related to Loan releases.

Entered in the books as Resolution No. 2019001, September 12, 2019

Mr. CARMELO A CORTES


Corporate Secretary
MEMORANDUM OF UNDERSTANDING

This Memorandum of Understanding (MOU), hereinafter referred to as the Memorandum entered into on by and
between GEL-TECH CONSTRUCTION INDUSTRIAL CORPORATION with office address at PUROK MAUNLAD, BRGY. IRAWAN, PUERTO
PRINCESA CITY, PALAWAN hereinafter referred to as “FIRST PARTY,”

And

with office address at hereinafter referred to as the


“SECOND PARTY” and collectively known as the “PARTIES” for the purpose of establishment and achieving various goals and objective
relating to the “PROPOSED ICE PLANT” project. The required funding is coordinated by the officers of
. Therefore, both parties agree, all second party projects that requires funding will remains under the introduction of
to the Financier.

The signing parties hereby accept such selected jurisdiction as the exclusive venue. The duration of the Agreement shall perpetuate
for FIVE (5) years and or for the implementation/operations of “PROPOSED ICE PLANT” project(s) under PPP which GEL-TECH
CONSTRUCTION INDUSTRIAL CORPORATION are been introduced for funding requirements under the facilitation of
from the date hereof.

WHEREAS, the aforementioned Parties desire to enter into the herein described agreement in which they shall work together to
accomplish the goals and objectives set forth:

WHEREAS, the Parties are desirous to enter an understanding, thus setting out all necessary working arrangements that both Parties
agree shall be necessary to complete this to five years for the “PROPOSED ICE PLANT” project.

AND, WHEREAS, upon completion of all the works for the “PROPOSED ICE PLANT” and commercial establishments within Five (5)
years, both parties then shall realize their profit

MISSION

The aforementioned project funding has been established with the following intended mission in mind:

PURPOSE AND SCOPE

The Parties intend for this Memorandum of Understanding to provide the cornerstone and structure for any and all possibly impeding
binding contract which may be related to the required introduction of project funding.

Thereafter the joint coordination for technical aspects of “PROPOSED ICE PLANT” projects to the Financier.

OBJECTIVES

The Parties shall endeavor to work together to develop and establish policies and procedures that will promote the funding,
construction and operations of “PROPOSED ICE PLANT” project, and intend to maintain a product and/or services that meets or
exceeds all the business and industry standard.
MEMORANDUM OF UNDERSTANDING

RESPONSIBILITIES AND OBLIGATIONS OF THE PARTIES

It is the desire and the wish of the aforementioned Parties to this MOU Agreement that this document should not and thus shall not
establish nor create any form or manner of a formal agreement or indenture, but rather an agreement between the Parties to work
together in such a manner that would promote a genuine atmosphere of collaboration and alliance in the support of an effective and
efficient partnership and leadership meant to maintain, safeguard and sustain sound and optimal managerial, financial project joint
activities in terms of funding. And as agreed, the support in construction & operations of “PROPOSED ICE PLANT” project.

TIMELINE

The above outlined scope and objective shall be contingent on the Parties obtaining the necessary funds required for the project(s) as
described within any grant or business loan application, if any. Responsibilities under this Memorandum of Understanding may coincide
with the grant period.

TERMS OF UNDERSTANDING

The term of this Memorandum of Understanding shall be for a period of Five (5) years and or for the implementation/operations of
“PROPOSED ICE PLANT” project under from the aforementioned effective date and maybe extended upon
written mutual agreement of both parties.

AMENDMENT OR CANCELLATION OF THIS MEMORANDUM

This Memorandum of Understanding may be amended or modified at any time in writing by mutual consent of both parties.

GENERAL PROVISIONS

The Parties acknowledge and understand that they must be able to fulfill their responsibilities under Memorandum of Understanding
in accordance with the provisions of the law and regulations that govern their activities. Nothing in the Memorandum is intended to
negate or otherwise render ineffective any such provisions or operating procedures. The parties assume full responsibility for their
performance under the terms of this Memorandum.

If at any time either party is unable to perform their duties or responsibilities under this Memorandum of Understanding consistent
with such party’s statutory and regulatory mandates, the affected party shall immediately provide written notice to the other party to
establish a date for resolution of the matter.

LIMITATION OF LIABILITY

No rights or limitation of rights shall arise or be assumed between the Parties as a result of the terms of this Memorandum of
Understanding.
MEMORANDUM OF UNDERSTANDING

ARBITRATION/MEDIATION DISPUTE RESOLUTION

The Parties to this Memorandum of Understanding agree that should any dispute arise through any aspect of this relationship, including,
but not limited to, any matters, dispute, or claim, the parties shall confer in good faith to promptly resolve any dispute. In the event
that the parties are unable to resolve the issue or dispute between them, then the matter shall be mediated and/or arbitrated in an
attempt to resolve any and all issues between the parties.

The parties agree that any claim or dispute that arises from for through this agreement, the relationship or obligations contemplated
or outlined within this agreement, if not resolved through mediation, shall then go to and be resolved through final and binding
arbitration. Any decision reached by the Arbitrator shall be final and binding and, if required, may be entered as judgement in any
court having jurisdiction.

In the event that any court having jurisdiction should determine that any portion of this Agreement to be invalid or unenforceable,
only that portion shall be deemed invalid and not effective, while the balance of this Agreement shall remain in full effect and
enforceable. This agreement shall be interpreted and governed by and in accordance with.

The Arbitration by and in accordance with the law in Philippine Courts in the event of dispute, the arbitration laws of the country above
will apply.

NOTICE

Any notice or communication required or permitted under this Memorandum shall be sufficiently given if delivered in person or by
certified mail, return receipt requested, to the address set forth in the opening paragraph or to such address as one may have furnished
to the other in writing.

GOVERNING LAW

This Memorandum of Understanding shall be governed by and construed in accordance with the laws of Philippines.

SEVERABILITY CLAUSE

In the event that any provision of this Memorandum of Understanding shall be deemed to be severable or invalid, and if any term,
condition, phrase or portion of this Memorandum shall be determined to be unlawful or otherwise, unenforceable, the remainder of
the Memorandum shall remain in full force and effect, so long as the clause severed does not affect the intent of the parties. If a court
shall find that any provision of this Memorandum to be invalid or unenforceable, but that by limiting said provision it would become
valid and enforceable, then said provision shall be deemed to be written, construed and enforced as so limited.

ASSIGNMENT

Neither party to this Memorandum of Understanding may assign or transfer the responsibilities or agreement made herein without
the prior written consent of the non-assigning party, which approval shall not be unreasonably withheld.
MEMORANDUM OF UNDERSTANDING

ENTIRE UNDERSTANDING

The herein contained Memorandum of Understanding constitutes the entire understanding of the Parties pertaining to all matters
contemplated here-under at this time. The Parties signing this MOU desire or intend that any implementing contract, license, or other
agreement entered into between the Parties subsequent hereto shall supersede and preempt any conflicting provision of this
Memorandum of Understanding whether written or oral.

MOU SUMMARIZATION

FURTHERMORE, the Parties to this MOU have mutually acknowledged and agreed to the following:

The Parties to this MOU shall work together in a cooperative and coordinated effort, and in such a manner and fashion to bring about
the achievement and fulfillment of the goals and objectives for this project joint activities in terms of funding. And as required, the
support in construction & operations of “PROPOSED ICE PLANT” projects.

It is not the intent of this MOU to restrict the Parties to this Agreement from their involvement or participation with any other public
or private individuals, agencies or organizations.

The Parties to this MOU shall mutually contribute and take part in any and all phases of the planning and development of project joint
activities in terms of acquiring project funding. And as required, the support in construction & operations of “PROPOSED ICE PLANT”
project, to the fullest extent possible.

It is not the intent or purpose of this MOU to create any rights, benefits and/or trust responsibilities by or between parties.

as project coordinator for the required funding for “PROPOSED ICE PLANT” project. With their
various project, that 2nd Party agrees to share of any available percentage of
ownership to the 1st Party .

First Party and Second Party Agrees with the following conditions:

1. PROFIT SHARING
- Government and profit share percentage will be 40% (Forty Percent)
profit share will be 60% (Sixty Percent)

2. BINDING AGREEMENT
- Until completion of the total project, should work with the Financier Ronald Fischer Group
(RFG) and any other investors or financier or any kind of investment plan should not be involved.
MEMORANDUM OF UNDERSTANDING

- The MOU shall obligate either Party to share management of ownership to maintain and/or sustain as business partner.

- In the event that partnership should become necessary, any such endeavor shall be outlined in a separate and mutually
agreed upon written agreement by the Parties or representatives of the Parties in accordance with current governing
laws and regulations, and in no way does this MOU provide such right or authority.

- Upon the signing of the MOU by both Parties, this Agreement shall be in full force and effect.

- The signing of this Memorandum of Understanding does not constitute a formal undertaking, and as such it simply
intends that the signatories shall strive to reach, to the best of their abilities, the goals and objectives stated in this
MOU.

This Agreement shall be signed by First Party and Second Party and shall be effective as of the date first written above.

GEL-TECH CONSTRUCTION INDUSTRIAL CORP. (1st Party)


PUROK MAUNLAD, BRGY. IRAWAN, PUERTO PRINCESA CITY, PALAWAN

ENGR. ENRIQUE T. GELA JR. D94200371326 - CEO/PRESIDENT


(First Party Signature)

Name of Company 2nd Party


Address of Office

Name of Representative/Passport #/Position


(Second Party Signature)

Note: Supply details, signatures of both parties, and company stamp at all pages by both parties.
Date:

Know all men by these presents:

This agreement made and executed this day of , 2021, in , by and between:

RONAL FISCHER, CEO of Ronald Fischer Group Financial Management Consultancy Naif Roas, with the office address at MBS
Building Flat 202, Deira Dubai UAE, KORO MAHALLESI KAVAKLI SOKAK, 14/12 – Cayyolu Cankaya 06810 Ankara/Turkey, referred to as
the Project Funder.

-and-

GEL-TECH CONSTRUCTION INDUSTRIAL CORPORATION, a private domestic corporation, duly organized and existing under
and by virtue of the laws of the Republic of the Philippines, with the office address at PUROK MAUNLAD, BRGY. IRAWAN, PUERTO
PRINCESA CITY, PALAWAN, Philippines, referred to as the Project Proponent.

That GEL-TECH CONSTRUCTION INDUSTRIAL CORPORATION is asking an immediate cash advance in the amount of FOURTY
MILLION USD ($40,000,000) for the payment of TWO (2) hectares a portion Of SIXTEEN (16) hectares to be used in “PROPOSED ICE
PLANT” project.

That GEL-TECH CONSTRUCTION INDUSTRIAL CORPORATION has responsibility to deliver the lot payment to GEL-TECH
CONSTRUCTION INDUSTRIAL CORPORATION with the business office address at PUROK MAUNLAD, BRGY. IRAWAN, PUERTO
PRINCESA, PALAWAN, represented herein by its President ENGR. ENRIQUE T. GELA JR. to collect the partial payment for the TWO (2)
hectares.

These are the property reference listed below:

NAME AREA TITLE

That the foregoing premises considered that the agreement made base on this partial funding agreement, in reference to
the National Seal Dated with the Documentary No. , Page No. , and Book No. as
reference in the attachment document.
IN WITNESS WHEREOF, parties herein have affixed their signatures on the date and place above written.

ENGR. ENRIQUE T. GELA JR.


PRESIDENT/CEO

CONFORMITY:

NAME
NAME OF COMPANY

ACKNOWLEDGEMENT

Republic of the Philippines)


Province of ) S.S.

BEFORE ME, Notary Public for and in , Philippines, personally appeared the following:

Name
Name
Name

Known to me to be the same persons who executed the foregoing Partial Payment Agreement signed by them and their instrumental
witnesses and hereby declare that the same is their free and voluntary act and deed and that of the respective entities they represent.

WITNESS MY HAND AND SEAL, this day of , 2021 in .

Doc No.
Page No.
Book No.
Series of 2021
REPUBLIC OF THE PHLHPPINES )
City of puerto princesa )

SUPPLIER - DISTRIBUTOR AGREEMENT

KNOW AI,L MEN 'BY THIS PRESENTS:

This agreement made and entered into by and between:

GEL-TECH Construction and Electro-Mechanical Eflgineering Services, represente


by ENRIQUE T. GELA, Tr., General Manager and C.E-.O, married, Filipino and with address
at Barangay Santa Monica, Puerto Princesa City, the supplier, herein referred as the "First
Prty of the First Part."

And

FELIXBERTO D. LORA, a resident of Bgy. Panitian, Quezon, Palawan, married,


Filipino, entering herein agreement as ,a distribu/tor representing FLORA Enterprises, and
knoFwn to be the Party Of the Second Part herein referred to as the "Second Party."
<

VVITNESSE", that:

WIIEREAS, the `FIRST PARTY of the first part, with this agreement, undertakes to
buHdaniceplantatBarangayRIoTubawithadailyproducfronsupplycapacityof60tousof
block ice and 30 tons Of tube ice; this ice plant construction compledon at about one (1) year
from agreement. Hence, the ice production and delivery starts in conformity with the above
schedule.

WHEREAS, the FRST PARTY of the first part undertakes to provide quality ice with
the volume of THIRTY (30) TONS OF BLOCK ICE AND FIFTEEN (15) TONS OF TUBE ICE
DAILY be made exclusively available to FLORA Emtexprises represented by Felixberta D.
Lora, in an exclusive supply agreement with a duration of two years covering the fouowing
municipalities, namely: Brookes Point, Rizal, Napsan and Quezon. This agreement is
renewable on the second year of operation upon the will of the second party; modified terms
of agreement to be reviewed and agreed to by both parti'es to improve distribution.

WHEREAS,theFIRSTPARTYOfthefirstpartedmmitstoassisttheSECONDPARTY
in the marketing of the ire in the manner of 1% of gross proceeds be anotted to niarketing
research and to explore new demand centers and customers; likewise, to finance and build
the development Of a fish port where feasible and necessary.

WHEREAS, the SECOND .PARTY acknowledges the distributor price of ice the fixed
amount Of: Seven Hundred (700) pesos for each 150 kilogram Of block ice; and,
twenty (20) pesos for each kilogram of tube ice.

Page I 1
Delivery mode, cred`it terms and guanntees. Gcods are supplied ex factory or may
be freely detivered in bulk to distributor stornger within 25 kilometers mainland. The off-take
goods amount on credit line will be charged and payable on a monthly basis. The retail price
must be equitable but subject to the costing of the distributor. Ex factory price increases are
subject to negotiation. Distributor price and territory protection is guaranteed as the FIRST
PARTY will not engage in retailing.

WHEREAS,theSECONDPARTYcommitstodeliver100%efforttogrowthebusiness
legally by developing retail outlet subscription in preparation to andcipated supply; thence,
to satisfy all its client demands without discrimination of religion, distance, financing mode,
and order quantity.

WHEREAS, THE SECOND PARTY undertakes to pay its financial obligation when it
comes due with diligence and on-time; as well as, to ermbrace harmJnious business
relationships at all times.

WHEREAS, the herein parties sign this agreement with full understanding, consent
and without coercion.

WHEREFOR,letitbethatthisagreementtotakeeffectfromthisdateOfsigning.

EREOF, the parties hereby sign this agreement on this day


2019 in Puerto Princesa City.

FErizD. LORA
Distributor / Second Party

;----i--i:-=_---
W<ithess

ACKNOw[EDGMEl`IT

BEFORE ME, a Notary Public for the City of Puerto Princesa and in the Province of
Palawan, personally appeared, ENRIQUE Jr. T. GELA exhibited to me his Voter's ID Card with No.
5303-0023A-G1555FTG10000 and FELIXBERTO D. LORA exhibited to me his Voter's ID Card with
No. 5317i)069B-H2257FDtl0002-6 as p-roof of- their identfty; executed ttris SUppt.IER-
DLSTRIBUTOR AGREEMENT, known to me and to me known t6 be the same person,s who
executed the foregoing instrument and they acknowledged to me that they executed the same
freely and voluntarily.

Vurl`lESS MV HAND AND SEAL on- this

pQaE8EF!tprovlnceofpalawan,
REPUBLIC OF THE PIHLIPPINES )
City of puerto princesa }

SUPPLIER - DISTRIBUTOR AGREEMENT

KNOW ALL MEN BY THIS PRESENTS:

This agreement made and entered into by and between:

GEL-TECH Construction and Electro-Mechanical Engineering Services, represented


by ENRIQUE T. GELA, ]r., General Manager and C.E.O, married, Filipino and with address
at Barangay Santa Monica, Puerto Princesa.City, the supplier, herein referred as the "First
Party of the First Part."

And

ARNEL 1® LACHICA, a resident of Bgy. RID Tuba, Bataraza, Palawan, married,


Fifipino, entering herein agreement as a distributor representing ARMIEL General
Merchandize,andknowntobethePartyOftheSecondPart,hereinreferredtoasthe``Second
Party.„

WTTNESSETH, that:

WHEREAS, the FIRST PARTY of the first part, with this agreement, undertakes to
build an ice plant at Barangay Rio Tuba with a daily production supply capacity Of 60 tons Of
block ice and 30 tons of tube ice; this ice plant construction completion at about one (1) year
agreement. Hence, the ice production and delivery starts in conformity with the above

WHEREAS, the FIRST PARTY of the fist part undertakes to provide quality ice with
the volume Of SEVENTY FIVE (75) TONS OF BLOCK ICE AND THIRTY SEVEN (37) TONS
TUBE ICE DAILY be made exclusively available to ARMEL General Merchandize
represented by Nora D Lachica, in an exclusive supply agreement with a duration of two
years covering the following municipalities, namely: Bataraza, Balabac to include nearby
islands and islets. This agreement is renewable on the second year of operation upon the will
ofthesecondprrty;modifiedtermsofagreementtobereviewedandagreedtobybothparties
to improve distribution.

WHEREAS, the FRST PARTY of ,the first part commits to assist the SECOND PARTY
in the marketing of the ice in the manner of 1% of gross proceeds be allotted to marketing
research and to explore new demand centers and customers; likewise, to finance and build
the developrfucht of a fish port where feasible and necessary.

WIIEREAS, the SECON.D PARTY acknowledges the distributor price of ice the fixed
amount of: Seven Hundred (700) pesos for each 150 kilogram of block ice; and,
page I 1 ,_
twenty (20) pesos for each kilogram of tube ice.

Delivery mode, credit terms and guarantees. Goods are supplied ex factory or may
be freely delivered in bulk to distributor storage within 25 kilometers mainland. The off-take
goods amount on credit line will be charged and payable on a monthly basis. The retail price
must be equitable but subject to the costing of the distributor. Ex factory price increases are
subject to negotiation. Distributor price and territory protection is guaranteed as the FIRST
PARTY will not engage in retailing.
• WHEREAS, the SECOND PARTY commits to deliver 100% effort to grow the business

legally by developing retail outlet subscription in preparation to anticipated supply; thence,


to satisfy au its client demands without discrimination of rerigion, distance, finandrg mode,
and order quantity.

WHEREAS, THE SECOND PARTY undertakes to pay its financial obligation when it
comes due with diligence and on-tine; as well as, to embrace harmonious business
relationships at all times.

WTIEREAS, the herein parties sign this agreement with full understanding, consent
and without coercion.

WHEREFOR, let it be that this agreement to take effect from this date of signing.

IN WITNESS THEREOF, the parties hereby sign this agreement on this _ day
°f 7 9 NOv mtq , 2019 in puerto princess city,

ARgACHICA
"stributor / Second Party

Witness

_i--f.--
Page I 2
TOTAL PROJECT COST: Php 232,067,390.00

CONSUMABLES / MISCELLANEOUS:

1. Hauling
2. Fuel and Oil
3. Oxygen and Acetylene LPG and Argon
4. Welding Rods and Air Compressors
5. Nitrogen
6. Welding Machine and Cutting Equipment
7. Angle Grinders / Cutting Disks
8. Water Drilling
9. Overhead Water Tanks 40,000 Gallons Capacity
10. Delivery Service Vehicles
11. Subsistence
12. Consistence

TOTAL ALLOTED FUNDS: Php 17,000,000


TOTAL COST OF PROJECT
INCLUDING LABOR AND MATERIALS
PER ICE PLANT PROJECT PER SITE: Php 250,000,000

Proposed Site Areas:

SOUTHERN PALAWAN

1. Bataraza
2. Brooks Point
3. Quezon
4. Narra

NORTHERN PALAWAN

1. Roxas
2. Taytay
3. El Nido
4. Santa Teresita

GRAND TOTAL PROJECT COST:


(Php 250,000,000 x 8 Project Sites) ₱ 2,000,000,000.00

Prepared by:

ENGR. ENRIQUE T. GELA JR.


President/CEO
Gel-Tech Construction Industrial Corporation
FINANCIAL STUDY
On a 2 x 50 TONS BLOCK ICE PLANT & 40 tons tube Ice maker
PROPOSED TO BE ESTABLISHED IN
RIO-TUBA PALAWAN

I ITEMIZED LIST OF ESTIMATED INVESTMENT IN THE BUSINESS

1 Ice Plant Building and Machinery Foundation ( 1,584 SM ) PHP 110,000,000.00


2 Refrigeration Machinery and Installation 97,350,000.00
4 2 sets Genset & Accessories 16,000,000.00
5 Transformer and Wiring 8,000,000.00
6 Delivery Truck ( 4 Units ) 12,000,000.00
7 Deep well ( pumping equipment & installation ) 6,000,000.00
8 Legal & Representation expenses 650,000.00

TOTAL ESTIMATED INVESTMENT PHP 250,000,000.00


II ESTIMATED COST OF OPERATION PER MONTH

1 Electrical Energy = 3 x 110 kw x 24 hrs x 30 days x 9.50/kw 2,257,200.00


2 Water consumption @ 178.26 cu.m/day times per month 267,390.00
3 Salaries / Wages 595,500.00
4 Consumables 20,000.00
5 Cosultancy 30,000.00
6 Office Supplies 5,000.00
7 Spare Parts 15,000.00
8 Depreciation :
Building - 20 yrs @ 10 % ( By straight line method ) 412,500.00
Machinery - 15 yrs @ 15 % ( By straight line method ) 535,264.00
9 Others ( Three top management @ 30,000/mo.) 90,000.00

Total Estimated Cost of Operation per Month PHP 4,227,854.00

III ESTIMATED INCOME FROM THE BUSINESS PER MONTH


1 Designed Production Capacity of Plant per day 1,600 blocks
3 Designed Production Capacity of Plant per month 48,000 blocks
4 Average Selling Price per block Php @ 500.00/block PHP 24,000,000.00
5 Design capacity per 864 sacks/day @ 50 kilos per sack
6 Averager selling price per sack PHP 250 x 864 sacks x 30 days 6,480,000.00
TOTAL INCOME PER MONTH 30,480,000.00
Less a ) stimated cost of operation per month 4,227,854.00
LESS b ) Sales & Government Taxes @ 12 % VAT 3,690,000.00
b)Total Estimated cost of operation/month= 5,570,740.00

ESTIMATED NET INCOME PER MONTH PHP 22,562,146.00


Less principal Monthly payment of loan @ 18,000,000.00/mo 18,000,000.00
Estimated net income or savings per month of operation PHP 4,562,146.00
IV ESTIMATED RATE OF RETURN PER MONTH FROM THE BUSINESS
1 Rate of return per moth = Php 22,562,146.00/Php 250,000,000.00 9.00%
2 Rate of return per year ( 11.29 % x 12 mos. ) 108.29%
3 Cost of production per block (5,570,740.00/48,000 blocks = PHP 116.05 / block
4 Return / Recovery Period @ 18,000,000.00/mo. Payment 1 year & 4 months

NOTE : All above figures are flexible and subject to adjustments, depending upon actual
conditions prevailing, and obtaining in the locality such as cost of labor , building
materials and actual local taxes .

MAN POWER OF OPERATION SALARY PER DAY SALARY PER MONTH

One (1) - Operation Manager 800/day 24,000.00


Four (4) - Machine Operator ( 1- reliever ) 500/day 60,000.00
Three ( 3) - Cashiers 550/day 49,500.00
One (1) - Secretary 550/day 16,500.00
Twelve ( 12) - Brine Man & Baggers 400/day 144,000.00
Nine ( 9 ) - Helper or Ice Block Hauler 350/day 94,500.00
Three ( 3) - Guard 500/day 45,000.00

MARKETING

One ( 1) - Sales Man 600/day 18,000.00


Four ( 4 ) - Truck Drivers 500/day 60,000.00
Eight ( 8 ) - Helper 350/day 84,000.00

TOTAL MONTHLY SALARY 595,500.00

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