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Filsyn Corporation

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Company Description
Filsyn Corporation (FYN) was originally organized in 1968 as Filipinas Synthetic Fiber Corporation to promote and support the polyester fiber and yarn requirements of the Philippines' textile industry. The Company was registered with the Board of Investments in 1969 with a preferred and pioneer status and went full-scale commercial operation in November 1971. The Company changed to its present name in 1987 to reflect its wider range of activities. To date, it has investments in Island King Aquaventure Corporation, an aquaculture company, and SRTC Development Corporation, a real estate company.

Since the implementation of the import liberalization program of the government in 1995, the textile industry experienced excess capacity coupled with high production costs and financing costs. FYN's operations since then, were limited to the disposal of old inventories, machineries and equipment, as well as sale of scrap materials and parts.

On December 14, 1998, FYN entered into an agreement with its various bank creditors and a supplier/shareholder to restructure its overdue and outstanding unsecured obligations. On December 2009, the Company offered its property in Sta. Rosa, Laguna as dacion in payment of the entire obligation to one of its creditors. The offer was accepted in November 2010, but as of April 12, 2017, the parties have not yet formally executed the Dacion En Pago arrangement.

The Company had no major business activity for the year ended December 31, 2017.

Source: SEC Form 17-A (2017)
Security Information
Sector Industrial
Subsector Other Industrials
Corporate Life 50
Incorporation Date Jul 22, 1968
Number of Directors 13
Stockholders' Meeting as per By-Laws January to April - any day
Fiscal Year 12/31 (Month/Day)
External Auditor SyCip, Gorres, Velayo & Company
Transfer Agent Banco de Oro Unibank, Inc. - Trust Banking Group
Contact Information
Business Address Unit 8, 5B Pearlbank Centre, 146 Valero Street, Salcedo Village, Makati City
E-mail Address info@filsyncorp.com
Telephone Number 815-9320
Fax Number 818-4143
Website http://www.filsyncorp.com