Our Business

On April 12, 2011, the Department of Energy approved the conversion of Coal Operating Contract 148 of ABACOAL to Development and Production phase. The proposed 5-year work program was evaluated and found to be technically and financially qualified to undertake development and production of coal resources located at Tago, Surigao del Sur. To do so, the Company has undertaken several activities to prepare itself and pave the way for full project implementation.

The Board of Directors has initiated a series of capital raising activities to finance working capital requirements and general corporate purposes, and create or acquire projects or investments and initiatives for expansion. Contracted business interests in a Coal Property in Surigao del Sur, through the acquisition of ABACOAL, will be the first venture of the Company.

By way of background, on September 24, 2008, the Company entered into a Heads of Agreement with Music Semiconductors Corporation (“MSC”) and Abacus Consolidated Resources Holdings, Inc. (“ACRHI”) for the joint acquisition by the Company and MSC of all issued and outstanding shares of stock of ABACOAL, a subsidiary of ACRHI. ABACOAL is a company engaged in the commercial exploration and development of coal

On May 21, 2009, the Company amended the Agreement for Joint Investment dated September 24, 2008 between the Company and MUSX Corporation resulting in the assignment to the Company of MUSX’s 55% interest and participation in the Abacoal Investment. In 2010, ABACOAL and the Company further revised the terms of the Heads of Agreement. In the revised agreement, the Company shall acquire the Coal Property and all the other assets and liabilities of ABACOAL by and through a merger, with Lodestar as the surviving entity.

As of June 30, 2012, the merger between the Company and ABACOAL is not yet executed but said agreements are still binding.

Our Company

Business Profile

LODESTAR is an investment holding company incorporated on January 3, 1974 with the following primary purpose:

“To purchase , subscribe for, or otherwise acquire, own, hold, use, sell, assign, transfer, mortgage, pledge, exchange or dispose of real and/or personal properties of every kind and description, including shares of stock and other securities, contracts, or obligations of any corporation or association, domestic or foreign, and to pay therefore, in whole or in part, in cash or in property or by exchanging stocks, bonds or other corporation, and while the owner or holder of any such real or personal property, stocks, or other securities, contracts or obligations, to receive, collect, and/or dispose of the interest, dividend and/or income from such property, and to possess and exercise in respect thereof all the rights, powers and privileges of ownership, including all voting powers on any stocks so owned; and to do every act and thing covered generally by the denomination “Holding Corporation of other Corporations” through the ownership of stocks therein, provided, however, that the corporation shall not act as an investment company or security broker and/or dealer nor exercise the functions of a trust corporation.”

Mission, Vision and Values

Lodestar Investment Holdings Corporation (the Company) shall strive to become one of the leaders in its industry through the development and implementation of strategic plans, operating goals and objectives across its entire organization of competent directors, management and personnel. 

Board of directors, management team and executive officers

It is the Board of Directors’ (Board) responsibility to foster the long-term success of the Corporation, and to sustain its competitiveness and profitability in a manner consistent with corporate objectives and the best interests of shareholders. The Board’s role is one of stewardship.  It is mandated to take care of the interests of the shareholders and protect their investments through the implementation of sound corporate policies and plans while maintaining its independent assessment on Management’s performance. 

As currently provided under its By-laws, the Board is composed of seven (7) directors including two (2) independent directors.

The membership of the Board may be a combination of executive and non-executive directors (which include independent directors) in order that no director or small group of directors can dominate the decision- making process.

The non-executive directors should possess such qualifications and stature that would enable them to effectively participate in the deliberations of the Board.

Board of Directors

Name

Office

Antonio Victoriano F. Gregorio III

Chairman / Director

Chi Ho Co

President / Director

Delfin S. Castro, Jr.

Director / CFO / Treasurer /

Richard N. Palou

Director / Investor Relations Officer

Ramoncito B. Cabalu

Director

Felixes G. Latonero

Independent Director

Manuel G. Ong

Independent Director

Venus L. Gregorio

Corporate Secretary, Corporate Information Officer & Compliance Officer


ANTONIO VICTORIANO F. GREGORIO III, 46, Filipino.

Atty. Antonio Gregorio III graduated Second Honors, with a Juris Doctor from the Ateneo de Manila University in 1998 and passed the bar examinations of 1998. He also has a Bachelor of Science Major in Management Engineering and a Bachelor of Arts, Major in Economics-Honors, both from the Ateneo de Manila University, Magna Cum Laude. He was a valedictorian of his high school class in the Ateneo. Atty. Gregorio sits as director and officer of various public and private companies, including NiHAO Mineral Resources International, Inc., (President from 2011 and Chairman from 2012 to present), Dizon Copper-Silver Mines (Treasurer/Director from 2012 to present), Abacore Capital Holdings, Inc. (Director, 2009 to present, Vice Chairman 2018), Philippine Regional Investment Development Corporation (Director 2014 to present, President 2018), Philstar Developmetn Bank (Director, 2008 – present), IPM Holdings, Inc. (Director 2012 to present), Cuervo Far East, Inc.(Corporate Secretary/Director, 2005 to present), Millionaire’s Offices and Properties Inc. (2011 – present) and Barnyard Realty Corporation (Corporate Secretary, 2002 to present), and 4A9T Scholarship foundation, Inc. (Corporate Secretary/Trustee from 1999 to present). He was formerly a Director of the following companies: Asiabest Group International Inc. (Chairman and President from 2011 to 2017), GNA Resources International Limited (2011 to 2015), World Wide Manpower Overseas, Inc. (2007 to 2014), Alta Minera, Inc. and Breccia Resources, Inc., (2011 to 2017), Beaver Q Corporation (2002 to 2017) and Big Herald Link International Corporation (2004 to 2016).

CHI HO CO, 46, Filipino.

Mr. Chi Ho Co is a businessman who currently serves as Director and Officer of various publicly listed and private companies including Nihao Mineral Resources International, Inc. (2013 to present), Geograce Resources Philippines, Inc. (2013 to present), Hightower, Inc. of which he is the President (2003 to present), Glomedic Philippines, Inc. (Chairman, 2004 to present), Banquets in Style, Inc.(Chairman, 2003 to present), Cavite Apparel Corporation (VP, 1998 to present), Subic Bay Apparel Corporation (VP, 1998 to present), Julia Realty & Development Corp. (Treasurer, 2006 to present), Edgeport Properties, Inc. (Treasurer/Secretary, 2006 to present), Fasttrack Realty & Development, Inc. (Chairman, 2004 to present) and CAC Motors Corp. (President, 2002 to present) among other companies. He was formerly a Director of Asiabest Group International Inc. (2011 to 2017).

DELFIN S. CASTRO, JR. 52, Filipino.

Mr. Delfin S. Castro, Jr. holds a Masters Degree in Business Administration and a Bachelor of Science Degree in Business Administration from the University of the Philippines. He is currently a Director/Treasurer of Nihao Mineral resources International, Inc. (2012 – present), Director/Treasurer of Geograce Resources Philippines Incorporated (2006 – present), Director of Dizon Copper-Silver Mines, Inc. (2012 – present). He is also a Director and Corporate Secretary of Sunplaza Development Corporation and Treasurer of The Peak Condominium Corporation. He was formerly a Director / Treasurer of AsiaBest Group International, Inc. (2010 – 2017).

RICHARD N. PALOU, 70, Filipino

Mr. Richard William N. Palou has served as a Director of Asiabest Group International Inc. since 2008. He is an MBA candidate and a graduate of Business Management at the Ateneo de Manila University. He currently serves as Director of DENAGA Pawnshop, Inc. (2007 to present), Vantage Investigation and Security Agency, Inc. (2007 to present), and First Philippine Wind Corporation (1997 to present). He was the Director for the University Athletics at the Ateneo de Manila University (2004 to 2017).

RAMONCITO B. CABALU, 60, Filipino.

Mr. Ramoncito Cabalu graduated with a Bachelor of Arts degree major in Economics and Social Sciences at the University of the Philippines in 1977. Mr. Cabalu is a director and President of a major entertainment company Circle Asia Group with major industry players to service the entertainment requirements of gaming companies in Manila and the emerging markets (2014). He is also currently a director and Partner of Maple Tree Investments (2014) and Vice-President/Partner for Business Development of Garco Minerals and Chemical Trading.

FELIXES G. LATONERO, 43, Filipino.

Mr. Latonero is an Independent Director of Geograce Resources International, Inc. (2016 – present), Asiabest Group International (2015-present). He is also the President of Nontrad Advertising and FGL Modular Cabinet System, Inc. (2003-present). He graduated in 1995 with a degree in Fine Arts from the EARIST. He was Independent Director of Nihao Mineral Resources International, Inc. (2014-2015).

MANUEL G. ONG, 60, Filipino.

Mr. Manuel Ong studied Bachelor of Science major in Chemical Engineering from the Xavier School. He is currently the Vice President and Technical Director of Industrial Welding Corporation. He is an Independent Director of Nihao Mineral Resources International Inc. (2009-present), Asiabest Group International Inc. (2015-present), Dizon Copper-Silver Mines, Icn. (2016-present) and Geograce Resources International Inc. (2013-present).

VENUS L. GREGORIO, 50, Filipino.

Atty. Venus L. Gregorio graduated with a Juris Doctor from the Ateneo de Manila University in 1998 and passed the bar examinations of 1998. She has a Bachelor of Arts degree major in Political Science from the University of the Philippines. Atty. Gregorio is the Asst. Corporate Information Officer and Assistant Corporate Secretary of Dizon Copper-Silver Mines, Inc. Asst. Corporate Secretary/Director of Cuervo Far East, Inc. (2005 to present). She was the Corporate Secretary and Corporate Information Officer of Asiabest Group International Inc. (2011 to 2017).

Board Committee Members

Executive Committee

Antonio Victoriano F. Gregorio III

Chairman

Richard N. Palou

Member

Chi Ho Co

Member

Felixes G. Latonero

Member

Governance Committee

Felixes G. Latonero

Chairman

Manuel G. Ong

Member

Richard N. Palou

Member

Nominations Committee

Antonio Victoriano F. Gregorio III

Chairman

Chi Ho Co

Member

Felixes G. Latonero

Member

Audit Committee

Felixes G. Latonero

Chairman

Chi Ho Co

Member

Antonio Victoriano F. Gregorio III

Member

Compensation Committee

Felixes G. Latonero

Chairman

Delfin S. Castro, Jr.

Member

Richard N. Palou

Member


Organizational Chart

Shareholding structure

 

Number of Shares

Amount (Php)

Authorized Capital

3,000,000,000

300,000,000.00

Subscribed Capital

3,000,000,000

 

Paid Up Capital

 

300,000,000.00

Par Value

Php0.10

 

Articles of incorporation and by-laws and all amendments

[Download PDF file here]

Amended Articles of Incorporation

[Download PDF file here]