A. The CIIF OMG Companies
The balance of the Coconut Consumers Stabilization Fund (CCSF) and the Coconut Industry Development Fund (CIDF), or roughly P2.572 Billion was used to acquire, purchase or establish certain companies engaged in the business of coconut oil milling and refining. This balance is what was later designated or commonly referred to as the Coconut Industry Investment Fund (CIIF).
From 1977 to 1979, various oil mills were acquired using the CIIF. These oil mill companies are collectively known as the CIIF Oil Mills Group,
CIIF OMG Acquisition Cost
From CIIF Granexport Manufacturing Corporation - 247 Million Legaspi Oil Co., Inc. and Cagayan de Oro Oil Company Inc. - 210 Million San Pablo Manufacturing Corporation - 133 Million Southern Luzon Coconut Oil Mill, Inc. - 633 Million subtotal From LegOil Iligan Coconut Industries, Inc. - 20 Million
Total P 653 Million• The major stockholders of the CIIF OMG Companies and their percentage equity holding in the companies are, as follows:
The CIIF OMG Companies are principally engaged in the business of milling copra and producing crude and refined coconut oil and other bi-products. On the average, eighty percent (80%) of the group’s produce are exported abroad while the balance is sold to the domestic market.
MINOLA edible oil, the premier coconut cooking oil in the country today, and other MINOLA products such as margarine and shortening, are being produced by the group. These are being sold in consumer packs or on a wholesale basis, and are being marketed and distributed through accredited national and regional distributors. Major supermarkets and retailers throughout the country carry and sell all MINOLA consumer products.
To minimize operating costs by having a lean organization and to implement synergies within the group, the CIIF OMG Companies have been overseen and managed by a common management team.
In 1986, the government through the Presidential Commission on Good Government (“PCGG”, for brevity) sequestered the CIIF OMG Companies. Consequently, the government instituted a suit with the Sandiganbayan asserting ownership over the CIIF OMG Companies.
As a result of the sequestration, the government through PCGG is effectively in control of the CIIF OMG companies as government causes from time to time the election of its nominees in the boards of directors of all the CIIF OMG Companies, and their subsidiaries including the appointment of the group’s President/Chief Executive Officer.
B. The 14 Holding Companies (Anglo Ventures Corp, AP Holdings Inc, ASC Investors Inc, ARC Investors Inc, Fernandez Holdings, Inc, First Meridian Development, Inc, Randy Allied Ventures, Inc, Rock Steel Resources, Inc, Roxas Shares, Inc, San Miguel Officers Corps, Inc, Te Deum Resources Inc, Toda Holdings Inc, Soriano Shares Inc, Valhalla Properties, Inc)
• The CIIF OMG Companies collectively own the 14 Holding Companies in the following proportions:
Stockholders Percentage Ownership CAGOIL 18% GRANEX 19 ILICOCO 15 LEGOIL 18 SOLCOM 11 SPMC 19
• The 14 Holding Companies were created to acquire common shares in San Miguel Corporation (SMC). • It must be stressed that the 14 Holding Companies are wholly-owned by the CIIF OMG Companies, at the time these were organized and even at the present. In other words, all of the shares of stocks of the 14 holding companies are registered in the names of one or more CIIF OMG Company. • The 14 Holding Companies are overseen by common set of five (5) directors and a common management team, who are all caused to be nominated, elected and/or appointed by the government through the PCGG.
C. The CIIF Block of SMC Shares • In 1983, about 33 million common shares in San Miguel Corporation (SMC) was acquired by the 14 holding companies for the total sum of P1.656 Billion (the “CIIF Block of SMC Shares”).
• Funding for this purchase was made via:
• At the time of acquisition or purchase, the CIIF Block of Shares represented thirty-one percent (31%) of SMC’s total outstanding capital stock.
• Due to a compromise agreement between SMC and UCPB in 1990, the shares were reissued and registered as follows: Registration No. of Shares % In name of 14 Holding Companies 144,324,960 26 In name of SMC as treasury treasurers 25,450,000 4 In name of PCGG (ITF- CARP) 5,500,000 1
• As of today, this percentage equity holding decreased to twenty-four percent (24%) due to the failure of government not to exercise its right of first refusal (apparently due to lack of funds to subscribed to additional capital) as a result of the increase in SMC’s capitalization.
• In 2009, the Supreme Court approved the conversion of the CIIF Block of SMC Shares from common to preferred shares. Among others, the high court ruled that CIIF Block of SMC Shares as converted shall continue to be: a) registered in the names of the 14 Holding Companies, b) subject to PCGG sequestration, and c) under custodia legis.
• The Supreme Court cited the following main reasons in approving the conversion of the CIIF Block of SMC Shares from common to preferred shares:
a. The Proposed Conversion is Advantageous to the Government (or the party who will eventually be adjudged as the true owner of the Subject Shares) “The respondent Republic has satisfactorily demonstrated that the conversion will redound to the clear advantage and material benefit of the eventual owner of the CIIF SMC shares in question.
xxx
“Moreover, the conversion may be viewed as a sound business strategy to preserve and conserve the value of the government’s interests in CIIF SMC shares. Preservation is attained by fixing the value today at a significant premium over the market price and ensuring that such value is not going to decline despite negative market conditions. Conservation is realized thru an improvement in the earnings value via the 8% per annum dividends versus the uncertain and most likely lower dividends on common shares.
“A fixed dividend rate of 8% per annum translates to PhP 6 per preferred share or a guaranteed yearly dividend of PhP 4,523,308,987.20 for the entire sequestered CIIF SMC shares. The figures jibe with the estimate made by intervenors Salonga, et al. Compare this amount to the dividends declared for common shares for the recent past years which are in the vicinity of PhP 1.40 per unit share or a total amount of PhP 1,055,387,636.80 per annum. The whopping difference is around PhP 3.5 billion annually or PhP 10.5 billion in three (3) years. On a year-to-year basis, the difference reflects an estimated increase of 77% in dividend earnings. With the bold investments of SMC in various lines of business, there is no assurance of substantial earnings in the coming years. There may even be no earnings. The modest dividends that accrue to the common shares in the recent years may be a thing of the past and may even be obliterated by poor or unstable performance in the initial years of operation of newly-acquired ventures.”
b. The Conversion (of the common shares) will not result to loss of control by the government in SMC
c. PCGG did not abuse its discretion when it approved the proposed conversion “A circumspect review of the pleadings and evidence extant on record shows that the PCGG approved the conversion only after it conducted an in-depth inquiry, thorough study, and judicious evaluation of the pros and cons of the proposed conversion. PCGG took into consideration the following:
*“(1) Resolution of the UCPB Board of Directors approved during its July 20, 2009 special meeting, where it categorically decided and concluded that it is financially beneficial to convert the CIIF SMC shares as offered by the SMC.
“(2) Resolution No. 365-2009 of the UCPB Board of Directors issued on August 28, 2009 reiterating its position that the proposed conversion is financially beneficial.
“(3) The Department of Finance, through Secretary Margarito B. Teves, upon the recommendation of the Development Bank of the Philippines, confirmed that the CIIF SMC shares conversion is financially and economically advantageous and that it shall work for the best interest of the farmers who are the ultimate and beneficial owners of said shares.
“(4) The letter of the OSG dated July 30, 2009 opined that the proposed conversion is legally allowable as long as PCGG approval is obtained.”(Underscoring supplied; see 17 September 2009 Resolution of the Supreme Court, G.R. Nos. 177857-58)*
• The SC’s resolution also ordered that the: a) proceeds of the redemption price on the CIIF Block of SMC Shares (upon redemption by SMC); and b) cash dividends paid prior to redemption, be deposited with either the Land Bank of the Philippines (LBP) or Development Bank of the Philippines (DBP) but in an escrow account.
• On 22 September 2009, PCGG through an en banc resolution directed the 14 Holding Companies to implement the Supreme Court’s 19 September 2009 resolution. On 05 October 2009, the CIIF Block of SMC shares were converted into preferred shares.
• On 11 February 2010, the Supreme Court granted UCPB’s motion to be one of the depository banks for the escrow deposit. The PCGG through Resolution No. 2010-018-795 dated 28 May 2010: - a) approved the opening of an escrow account with the UCPB where all the cash dividends/redemption proceeds will be deposited, and b) directed SMC to remit to this escrow account the cash dividends and the redemption price. Subsequently, an escrow account in the name of the Republic of the Philippines represented by the PCGG ITF the 14 CIIF Holding companies was established with UCPB Trust Banking Group.
• On 24 January 2012, the Supreme Court declared the government the owner of the CIIF OMG companies, the 14 Holding Companies and the so-called CIIF Block of SMC Shares consisting of 753,848,312 preferred shares in San Miguel Corporation (SMC).
• Subsequently, the Supreme Court in a resolution dated 04 September 2012 denied the motion for reconsideration filed by the Philippine Coconut Producers Federation, Inc. (“Cocofed”).
However, this decision is not yet final and executory as the government had petitioned the tribunal last 12 October 2012 to amend the decision to include certain treasury shares in SMC that are part and parcel of the original shares purchased by the 14 Holding Companies from SMC.
• On 05 October 2012, about P56.5 Billion representing the proceeds of the redemption price paid by SMC for the CIIF Block of SMC Shares was remitted to the Bureau of the Treasury (BTr) under instructions from the Presidential Commission on Good Government (PCGG). An escrow account was then opened in the name of the PCGG in-trust-for (ITF) the 14 Holding Companies as the Supreme Court’s decision declaring the government the owner of the CIIF OMG, 14 Holding Companies and the CIIF Block of SMC Shares is not yet final and executory.
On the other hand, the cash dividends on said block (after the same were converted from common to preferred) are deposited in escrow with the United Coconut Planters Bank (UCPB). As of 31 December 2012, this amounted to P13.695 Billion inclusive of interest/yield thereon.
D. Subsidiaries
• On 30 June 1986, the CIIF OMG was placed under the control of the Presidential Commission on Good Government (PCGG). Some companies were on the verge of bankruptcy while others had excess liquidity.
• To remedy the situation, the new management initiated a drastic financial restructuring. Available resources were consolidated and redeployed for more efficient utilization. Under-utilized funds of over PhP1.0B were moved from one unit to the other oil mill companies enabling the latter to operate smoothly and to service their bank obligations on time.
• The following are the existing subsidiaries of CIIF OMG, to wit:
• MANILA REFINING CORPORATION (Formerly: Minola Refining Corporation)
Incorporated in 24 February 1998, MRC is 75% owned by San Pablo Manufacturing Corporation (SPMC), 15% Cocochem and 10% UCPI.
The company is engaged in the business of refining, milling, manufacturing, conserving, packaging, preserving, storing of, and the buying, selling on wholesale basis only, importing and exporting of, coconut oil, palm oil, palm kernel oil, corn oil, crude coconut oil, other vegetable oil, coconut and palm oil products and by-products.
• MINOLA CORPORATION (MC)
Incorporated in 2 March 1990, MC is 100% owned by San Pablo Manufacturing Corporation (SPMC). MC was formed to optimize the use of CIIF OMG strategically located copra buying stations by making them outlets for various goods, commodities, wares and merchandise needed in various areas.
• ILIGAN BAY MANUFACTURING CORPORATION (IBEC) Formerly: Iligan Bay Export Corporation
Incorporated in 25 April 1979, IBEC is 96.83% owned by UCPB (as administrator of CIIF), 2.65% by Legaspi Oil Co., Inc. (LEGOIL) and 0.53% by Granexport Manufacturing Corporation (GRANEX).
IBEC operates inter-island vessels primarily for transporting copra from the CIIF OMG’s buying stations to plant sites and refineries. This arrangement assures the oil mill plants sufficient stocks to keep the manufacturing operations dynamic. A number of Copra Buying Stations (CBS) are in place nationwide to gather and buy the copra harvest from the coconut farmers.
Last 2012, GRANEX sold three of its vessels for cost efficiency. IBEC continues to manage the operation of the remaining vessels.
• LEGASPI OIL COCOFIBERS CORPORATION (COCOFIBER)
Incorporated in 06 April 1995, COCOFIBER is 75% owned by LEGOIL while the remaining 25% is owned by Francisco Soriano, a champion in the coir industry using coconut husk in processing coir and other by-products and in the aspect of marketing the finished value-added products.
COCOFIBER was formed to engage in the business of importing, exporting, buying and selling of coconut fiber, coconut coir and other coconut-based products.
• CIIF COCONUT FARM DEVELOPMENT PROGRAM, INC. Formerly: Niyog Trading Center, Inc.
Incorporated in 5 February 2004, the Company is equally owned by LEGOIL, GRANEX, SPMC, CAGOIL, SOLCOM and ILICOCO.
Originally, the Company is engaged in the business of trading coconut and its by-products, and to stimulate, catalyze, promote, commission and undertake scientific and market research recommendations on agricultural and industrial aspects of the coconut and other palm oil and complementary crop, intercropping projects and livestock farming systems to ensure the development of all sectors particularly the coconut farmers.
The Company also instituted socio-economic programs for the upliftment, development and advancement of the farmers, workers and members of the coconut industry, maximize productivity, community development, equitable distribution of wealth and economic values, application of technology to increase the value of coconut products.
• CIIF AGRO-INDUSTRIAL PARK, INC. (CAIP)
Incorporated in 06 June 2004, CAIP is owned by the CIIF OMG in the following manner: 25% LEGOIL, 25% GRANEX, 20%SPMC, 25%CAGOIL, 0.03%SOLCOM and 0.03% ILICOCO
To promote a globally competitive business entity and avail of incentives, the CIIF OMG, as an export-oriented manufacturing group of companies, applied for PEZA accreditation. CAIP stands as developer/operator of economic zones owned by CIIF OMG.
The following have been declared PEZA ecozones, and are all being developed/ operated by CAIP.
Complex Certificate of Registration Locator Cert. of Registration Iligan 17 Jan 2006 Granex 17 Jan 2006 Davao 25 June 2010 LegOil 25 June 2010 Legazpi 15 Feb 2012 LegOil Pending CDO 21 Feb 2013 CagOil Pending
• CIIF CENTER FOR RESEARCH AND DEVELOPMENT FOUNDATION, INC. (CCRDF)
Incorporated on 1 June 2004, CCRDF is owned by the CIIF OMG as follows: 30% LEGOIL, 30% GRANEX, 20% CAGOIL, 9.2% SPMC, 9.2% SOLCOM and 1.6% Others
A non-stock, non-profit organization, CCRDF was formed to focus on undertaking scientific based coconut related products and by-products, other oil palms, complementary crops and livestock farming systems for the benefit of the coconut farmers. It also commits to undertake research and development through grants, scholarships and other related incentives.
• CIIF MANAGEMENT COMPANY, INC. (CIIF Management)
Incorporated in 29 December 1986, CIIF Management is equally owned by LEGOIL, GRANEX, SPMC, CAGOIL and SOLCOM.
CIIF Management was formed to coordinate the operations of the companies belonging to the CIIF Group. A common board of directors formulates policy and a common management implements strategy to ensure consistency and coordination.
• GRANEXPORT CORPORATION, USA (GUSA)
Incorporated in 25 July 1972, GUSA is a wholly owned subsidiary of Granexport Manufacturing Corporation. GUSA serves as the trading and marketing arm of CIIF OMG for coconut oil, oleochemicals and shortenings for the US market.
• SILAHIS MARKETING CORPORATION (SILMARCOR)
SILMACOR was incorporated on September 8, 1966 with 100% Filipino Capitalization of employees of then Theo H. Davies and Co. Far East Ltd., an English firm operating in the Philippines together with some of its business & professional associates. It was organized by managers and officers of said firm as an exclusive channel for the distribution of its product due to the effect of Philippine Retail Trade Law in its strict implementation.
Corporate changes of Theo H. Davies transpired in 1970 and the new owner, Jardine Davies, Inc. modified the distributorship agreement which enabled SILMACOR run its operations independently. Since then, its business development has progressed so much that the original capitalization of PhP75,000 has gradually grown through “plow back” of earnings up to the current paid up of PhP35,000,000 without contribution from stockholders.
SILMACOR started its operation with a humble beginning housed in a rented apartment with four-man workforce. Now, SILMACOR maintains a Head Office in Makati City and branches in Bacolod, Iloilo, Cebu, Cagayan de Oro, Iligan and Davao.
The Company is primarily engaged in trading of industrial maintenance chemicals and supplies, refractory, anti-pollution supplies & equipment, consumer products, thermal insulations, coatings, construction chemicals & supplies, and a wide range of traded items of mill supplies, including but not limited to medical equipment and supplies, industrial tools, machineries and equipments.
Its principal market covers the industries of sugar, cement, coconut, mining, shipping and shipbuilding, manufacturing/processing, fishing & canning, food & beverages, as well as institutional accounts as hotels, restaurants, hospitals, schools, office buildings and the likes. Recently, the market have been expanded that included the power generation, oil & petroleum as well as the construction industries and have developed mill supply lines for the coconut mills, including San Miguel Corporation and its subsidiaries.
• 10 Copra Trading
(Mt. Boribing Agricultural Commodities, Inc, Mt. Bulusan Agricultural Commodities, Inc, Lamitan Peak Agricultural Commodities, Inc, Lamon Bay Agricultural Commodities, Inc, Mactan Agricultural Commodities, Inc, Malipayon Agricultural Commodities, Inc, Mt. Mandalangan Agricultural Commodities, Inc, Maopay Agricultural Commodities, Inc, Sharp Peak Agricultural Commodities, Inc, Mt. Tuayan Agricultural Commodities, Inc.)
Incorporated in 1985, the 10 Copra Trading Companies’ primary purpose is to purchase, sell and trade coconut, copra, plam oil and other coconut by-products. Although these companies had no trading operations since 1988, they were sequestered and included as subject matter in Sandiganbayan Civil Case No. 0033-D.
II. ASSISTANCE TO THE COCONUT FARMERS/GROUPS
Assistance by the CIIF OMG Companies to various coconut farmer groups/organizations may be summarized as follows:
A. Coconut Farm Development Program/Coconut Farmers Agro-business Program (CFDP/CADP)
a. Summary
Total CIIF OMG + PCA 815,717,387.84 Add: Obligated 40,461,247.00 Total CIIF + PCA + Obligated P 856,178,634.84 Funds Balance as of 31 Dec 2012 193,821,365.06 Total P1,050,000,000.00
b. CIIF-OMG Initiated Projects
i. Planting and replanting - establishment of 194 village level nursery sites with more than 18.8M seedlings to be planted in roughly 186,738 hectares.
ii. Farm intercropping - grant of assistance for the propagation of other crops, such as banana, abaca and other livestock to 44 farmer cooperatives for a total area of 2,540 hectares.
iii. Value-adding
1. Kukum Dryers - establishment of 19 copra processing facilities and 3 modified drum carbonizers in partnership with the NEDA-EU-TRATA.
2. Decorticating Machines - deployment of 104 units of coconut husk decorticating machines mostly through the Diocesan Social Action Centers (DSACs) through coconut farmer cooperatives.
iv. Agri-business centers - deployment of initial infrastructure for data base and coconut trading information kiosks for 52 coconut farmers’ networks.
v. These projects were implemented through 373 program/project partners (58 LGUs; 225 CFOs; 12 SUCs; and 78 DSACs).
Type of Project Location Accomplishment Amount Invested in Peso Planting/Replanting 201 municipalities/ 18,678,609 seedlings 368,485,116.10 50 provinces/ 13 regions
Intercropping 40 municipalities/ 2,540 hectares 18,150,00.00 25 provinces/ 11 regions
Value-adding: Copra Quality Processing 18 municipalities/ 19 kukum driers/ 4,158,868.00 17 provinces/ 6,840 hectares 11 regions
Value-adding: Husk and Shell Processing 18 municipalities/17 provinces/ 104 units/ 19,560,088.49 11 regions 36,720 hectares
CocoFarmers Agri-business Centers 21 municipalities/19 provinces/ 2 agri-business centers 37,394,800.00 10 regions
Total: 447,748,872.59c. PCA-Initiated Projects
i. Participatory Coconut Planting Program - funded assistance to individual farmers who have planted an estimated 6.5M trees or 65,000 hectares nationwide.
ii. Coconut-Corn Intercropping - funded PCA’s coconut-corn intercropping project that included distribution of at least 100,000 bags of corn and inoculants to typhoon devastated areas.
iii. Coconut Pest Management - funded PCA’s Brontispa Eradication Project involving the treatment of 2,364,639 infected trees in 32 provinces.
iv. Coconut Farm Fertilization 1 - funded PCA’s Salt Fertilization Program involving the procurement and distribution of 477,372 bags of sodium chloride for application to at least 111,843 hectares.
v. Coconut Farm Fertilization 2 - funded PCA’s Salt Fertilization Program involving the procurement and distribution of 151,515 bags of sodium chloride for application to at least 36,000.
Type of Project Location Beneficiaries Amount Invested in Peso
Participatory Coco Planting and replanting 931 municipalities & cities 28,383 farmers 81,579,413.00 /73 provinces/ 16 regions
Salt Fertilization Project 1,006 municipalities and cities/ 142,259 farmers 188,143,738.76
72 provinces/16 regions
Coconut Inter--cropping Project 281 municipalities and cities/ 60,799 farmers 81,651,673.56
24 provinces/8 regions
Pest Management 254 municipalities and cities/ - 16,593.689.93
61 provinces/14 regions
Total 351,374,825.32*B. Coconut Farmers Insurance Claims
a. Background*
i. Presidential Decree No. 1468 otherwise known as the Revised Coconut Industry Code provides that the Coconut Consumers Stabilization Fund shall be utilized, among others, to fund life and accident insurance coverage of the farmers.
ii. In 1978, following the mandate of PD No. 1468, UCPB, Cocolife and Philippine Coconut Producers Federation (Cocofed) entered into a contract for the set-up of an insurance fund from the Coconut Consumer Stabilization Fund (CCSF). The Insurance Fund which was managed by UCPB became the source of premium for the insurance coverage (Program 1-Whole Life Plan for sum insured of P10,000 per coconut farmer).
In 1985, with the depletion of the Insurance Fund, the face amount was reduced to P5,000, whole life plan was converted to group term life and the cash value of the whole life plan was used to fund the program.
iv. In 1996, UCPB, Cocolife and CIIF OMG (collectively called “CIIF Companies”) and PCA entered into a Memorandum of Agreement (MOA) extending the insurance program to coconut farmers who are not yet insured under Program 1 (Program 2 – additional 485,000 farmers not covered under program 1). Based on the MOA, these companies agreed to set aside or allocate an amount equal to such percentage of their audited net profits in the preceeding calendar year as are consistent with the requirement of their business operations and contribute said amount to the Insurance Fund.
v. The Insurance Fund was never set up and only CIIF OMG contributed premium payment in the amount of P20Million.
vi. In 2002, the parties in Program 2 entered into another MOA (Program 3) increasing the insurance coverage from P5,000 to P10,000 per coconut farmer and to a total of 3,500,000 coconut farmers and farm workers throughout the country.
vii. On 19 December 2003, the parties amended the MOA (2002) to state that the Insurance Fund shall be financed by the Coconut Industry Investment fund (CIIF) and that advances paid by the CIIF OMG as initial insurance premiums shall be considered as the latter’ contribution to the Insurance Fund and any excess of their paid advances taking into consideration the share of other CIIF Companies to the Insurance Fund, shall be refunded by CIIF.
viii. Due to substantial financial requirement, only the objective of upgrading the insurance coverage from P5,000 to P10,000 was implemented.
ix. In 2008, the CIIF Management Co., Inc. (with representatives from CIIF Companies and Cocochem) approved in principle a sharing of obligation among the CIIF-UCPB Group. It likewise directed the 14 Holding Companies to declare cash dividends in favor of the CIIF OMG which shall in turn make cash advances to the CIIF.
b. Advances
x. As of 2010, CIIF OMG advanced a total of P909,400,091.51 to CIIF for the payment of coconut farmers insurance claims.
xi. No advances were made thereafter since the CIIF Block of SMC Shares were converted from common to preferred and the Supreme Court required that all SMC dividends thereon shall be deposited to an escrow account.
C. Financial Assistance to PCA, UP Alumni for Coconut Scale Insect
• On September 2012, the CIIF OMG, through the 14 Holding Companies, provided financial assistance in the amount of P2Million in support of PCA’s stop-gap measure program to control the coconut scale infestation in Batangas Province.
D. Contribution to UCPB-CIIF Foundation, Inc. (Cocofoundation)
• CIIF OMG from time to time grants financial contributions to the UCPB-CIIF Foundation, Inc. (“Cocofoundation”) to enable the latter to sustain its scholarship programs for deserving children of coconut farmers. Summary of contributions is as follows:
DATE COMPANY YEAR AMOUNT 1/5/2005 LEGOIL 2004 3,000,000.00 9/30/2010 SPMC 2010 1,000,000.00 2/14/2012 SPMC 2011 2,200 ,000.00 12/19/2012 SPMC 2012 1,300,000.00 Total: 7,500,000.00
To practice sound and ethical business principles so that CIIF Oil Mills Group could positively contribute in the development of the coconut industry as well as support the country’s coconut farmers, and at the same time generate consistent profits and maximize the enterprise value of the organization.
To establish and maintain a sound business platform that will contribute to the development of the coconut industry in the Philippines by providing quality products and services to local and international customers, and to provide a sustainable and recurring source of revenue for the support of coconut farmers nationwide.
To aim for the global leadership in the production of coconut oil and other coconut-based products by the year 2030.
Accountability
Professionalism
Integrity
Service Pledge
We Commit:
| POSITION | NAME |
|---|---|
| No results found | |