Oil & Energy
Originally incorporated as Jolliville Realty and Development Co., Inc. (?JRDCI?), a realty company, in September 1986 by the Ting family, the Company underwent a transformation to that of a holding company in 1999. On April 15, 1999, the Securities and Exchange Commission (SEC) approved the change in name of JRDCI to Jolliville Holdings Corporation (?JOH?), as well as the change in its primary purpose. Subsequently, on May 4, 1999, the SEC approved the increase in capitalization of JOH. The authorized capital stock of the Company was increased from 30,000 shares with a par value of 100 per share to 1 billion shares with a new par value of 1 per share. To date, 281.5 million common shares are issued and fully paid.After this transformation into a holding company, JOH acquired the entire capital stock of its affiliates namely, Jolliville Group Management, Inc. (?JGMI?), Jollideal Marketing Corporation (?JMC?), Ormina Realty and Development Corporation (?ORDC?)(parent company of Calapan Waterworks Corporation, ?CWWC? or ?Calapan Water?), Jolliville Leisure and Resort Corporation (?JLRC?), and Ormin Holdings Corporation (?OHC?). It acquired the foregoing companies through the assignment of shares of stock, which was paid for in cash to members of the Ting Family who held ownership in the former prior to JOH?s acquisition. Ormin Power, Inc. ("Ormin Power") is a power generating company duly organized and existing under the laws of the Republic of the Philippines with business address at Ormeco Compound, Sta. Isabel, Calapan City, Oriental Mindoro. It was duly registered with the Securities and Exchange Commission (SEC) on April 27, 2009. Ormin Power is a dynamic emerging power company focused on the exploration and development of environment-friendly, timeless and renewable source of energy. Its primary purpose is to provide power generation and electricity supply services to distribution utilities, including but not limited to, electric cooperatives; to install, build, own, lease, maintain, or operate power generation facilities, using fossil fuel, natural gas, or renewable energy; and to engage in any and all acts which may be necessary, or convenient, in the furtherance of such power generation services. Ormin Power has an authorized capital stock of Php466 million divided into 466 million common shares with a par value of Php1 a share. As of September 30, 2014, the subscribed and issued capital stock consisted of 166,500,000 shares with paid-in capital of Php102,000,000.