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Victorias Milling Company, Inc.

Company Description
Victorias Milling Company, Inc. (VMC) was incorporated on May 7, 1919 to engage in integrated raw and refined sugar manufacturing as well as to operate engineering services. VMC's sugar plant facilities are located in Victorias City, Negros Occidental. On July 3, 2013, SEC approved the inclusion of ethanol and/or potable alcohol production, infrastructure, transportation, telecommunication, mining, water, power generation, recreation, and financial or credit consultancy in the Company's business purposes.

In the mid-1990s, VMC encountered financial difficulties due to its failure to effectively contain rising overhead costs against a backdrop of falling domestic prices of sugar, and increasing competition from both new and expanded sugar mills and refineries. After going through different stages of legal proceedings, VMC came up with an Alternative Rehabilitation Plan that was approved by the Securities and Exchange Commission (SEC) on November 29, 2000. Pursuant to the approved Rehabilitation Plan, VMC and the creditor banks executed a Debt Restructuring Agreement on April 29, 2002. VMC plunged into several strategic initiatives to attain financial health, sustain its operations and pay off its debts. Thus in 2013, more than five years ahead of schedule, the Company was able to pay all its remaining balance of the restructured loan as well as the interests accruing thereon.

As of its fiscal year ending August 2015, the operating subsidiaries of VMC include Victorias Foods Corporation; Victorias Agricultural Land Corporation; Canetown Development Corporation; and Victorias Golf and Country Club, Inc. On April 13, 2015, the SEC approved the incorporation of the Company's wholly-owned subsidiary, Victorias Green Corporation, to undertake power-related projects.

Source: SEC Form 17-A (2015)/Disc. No. 1937-2015
Security Information
Sector Industrial
Subsector Food, Beverage & Tobacco
Corporate Life 0
Incorporation Date May 07, 1919
Number of Directors 11
Stockholders' Meeting as per By-Laws
Fiscal Year 08/31 (Month/Day)
External Auditor R.G. Manabat & Co.
Transfer Agent AB Stock Transfers Corporation
Contact Information
Business Address Victorias City, Negros Occidental
E-mail Address
Telephone Number (034)399-2717 / (034)399-3380 / (034)399-3588
Fax Number (034)399-3675 (034)399-3588