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.
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.
Antonio Victoriano F. Gregorio III
Chairman / Director
Chi Ho Co
President / Directror
Delfin S. Castro, Jr.
Director / CFO / Treasurer / Asst. Corporate Information Officer
Leonardo S. Gayao
Ramoncito B. Cabalu
Felixes G. Latonero
Manuel G. Ong
Venus L. Gregorio
Corporate Secretary and Corporate Information Officer
Antonio Victoriano F. Gregorio III, 43, Filipino, Director, Chairman and President. Atty. Antonio Gregorio III graduated Second Honors, with a Juris Doctor from the Ateneo de Manila University in 1998 and passed the bar examinations in of 1999. He finished both his Bachelor of Science Degree, Major in Management Engineering and a Bachelor of Arts, Major in Economics-Honors, from the Ateneo de Manila University, Magna Cum Laude. He was the 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. (Chairman and President), Lodestar Investment Holdings Corporation (Chairman), Dizon Copper-Silver Mines (Director and CFO), Abacus Consolidated Resources and Holdings, Inc., Minerales Industrias Corporation, and GNA Resources International Limited, among other companies.
Chi Ho Co, Filipino, 42, has served as Director since 4 February 2011. He currently serves as Director and Officer of various companies including Asiabest Group International Inc. (2011 - present), Geograce Resources Philippines Incorporated (Chairman), Hightower, Inc. (President), Glomedic Philippines, Inc. Banquets in Style, Inc., Cavite Apparel Corporation and Subic Bay Apparel Corporation, among other companies. He was a Director of Nihao Mineral Resources International, Inc. (2012 – 2015).
Delfin S. Castro, Jr., Filipino, 49, has served as Director since 11 December 2015. He holds a Masters in Business Administration and a Bachelor of Science in Business Administration from the University of the Philippines. He is currently Director and Treasurer of Geograce Resources Philippines Incorporated, Director and CFO of NiHao Mineral Resources International, Inc., Chairman/President of Dizon Copper-Silver Mines, Inc. and Director and Treasurer of Asiabest Group International Inc.
Leonardo S. Gayao, 69, has served as Director since 22 December 2010. Atty. Gayao graduated from the San Beda College in 1973 with a Bachelor of Laws degree. He has 40 years of proven track experience in the fields of corporate law, banking and finance and real estate. He is currently the Director/President of Abacore Capital & Holdings, Inc (1995 to present), Director/President of Philippine Regional Investment Development Corporation (1995 to present). He is also a Director of Asiabest Group International Inc. (2015 – present), Dizon Copper-Silver Mines, Inc. (2014-present), Director/Chairman of Abacus Coal Exploration and Development Corporation (2009-present), Director/Chairman of Ominicor Industrial Estate & realty Center, Inc. (2009 to present), Director of Abacus Global Technovisions, Inc. (1993-present), Director/President of Blue Stock Development Holdings, Inc. (1993 – present), Director/President Hedge Issues Management & Leverage Advisors, Inc. (2009 – present), Director/President of Hedge Integrated Management Group, Inc. (2009-present), Director/Chairman of Alpha Asia Hotels & Resorts, Inc. (1991 – present), Director of Phil Star Development Bank (1997-present), Director/President of Vantage Relay Corporation (2009 –present) and Director/President fo Kapuluan Poprerties, Inc. (2009-present). He was a Director of Pacific Online Systems Corporation (2007-2014).
Ramoncito B. Cabalu, 58, has served as Director since 11 December 2015. He 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. He started his career as Account Manager handling international conventions, exhibits & events for the Philippine International Convention Center (1977- 1979). In 1980, Mr. Cabalu formed his own company Karangalan Entertainment which brought to Manila American and European artists. He also established Syndicated Marketing Specialists, Inc. and was President and Managing Director (1984-1998), co-founded Universal Fabric Structure Philippines, in partnership with Universal Fabric Structure USA as Founding Director and Chief Operating Officer (2000- 2002), Peak Entertainment Resources Corporation as President (2001-2004), entered into a joint venture with Transcontinental Records USA and co-founded East West Entertainment Corporation as Senior Vice-President and Chief Operating Officer (2002- 2004), co-founded Emma Entertainment & Management Corproration with venture capitalist partners from New York, USA and became the Chief Operating Officer of the company (2001- 2007). In 2007, Mr. Cabalu went back to Manila to establish Tri-Access Management Group (TAM Group) as Chairman& Chief Executive Officer (2007-2010). TAM Group produced and managed entertainment facilities for the gaming/casino facilities of the Philippine government.
Felixes G. Latonero, 41, has served as Independent Director since 11 December 2015. Mr. Latonero is an Independent Director of Asiabest Group International Inc. (2015-present). He was an Independent Director of Nihao Mineral Resources International, Inc. (2014 – 2015). 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.
Manuel G. Ong, 57, has served Independent Director since 11 December 2015. Mr. Manuel Ong studied Bachelor of Science major in Chemical Engineering from the Xavier School. He is an Independent Director of Nihao Mineral Resources International, Inc. (2009-present) and Geograce Resources Philippines, Inc (2013-present), Asiabest Group International, Inc. (2015 – present). He is currently the Vice President and Technical Director of Industrial Welding Corporation.
Venus L. Gregorio, 46, has served as Corporate Secretary and Corporate Information Officer since 13 December 2012. Atty. Venus L. Gregorio graduated with a Juris Doctor from the Ateneo de Manila University in 1998 and passed the bar examinations in 1999. She has a Bachelor of Arts degree major in Political Science from the University of the Philippines. Atty. Gregorio sits as Corporate Secretary and Corporate Information Officer of Lodestar Investment Holdings Corporation (2012 to present) and 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), and Director of Tajima Yakiniku Inc. (2005 to present). She was formerly a Director of Active Earnings Inc. (2003 to 2011), Carellan, Inc. (2003 to 2011), Carom, Inc. (2003 to 2011), Grand Pin Development Corporation (2004 to 2011), Hobitton, Inc. (2003 to 2011) and Weathertop, Inc. (2004 to 2011); Corporate Secretary of Cuisine Allurements, Inc. (2002 to 2011), Los Boldos, Inc. (2003 to 2011), Onion and Chives, Inc. (2003 to 2011).
Number of shares
Paid up Capital