- September 21, 2015
- News & Events, Press Releases
SEC approves Harbor Star’s Subic subsidiary
TUGBOAT operator Harbor Star Shipping Services, Inc. has bagged regulatory approval to incorporate a subsidiary that will engage in ancillary services, with an authorized capital stock of P20 million.
“On 17 September 2015, the Securities and Exchange Commission approved the incorporation of ‘Harbor Star Subic Corp.,’ a wholly owned subsidiary of the company,” the listed parent firm told the Philippine Stock Exchange on Monday.
“The primary purpose of Harbor Star Subic Corp. is to engage in marine-related ancillary services such as harbor assistance, towage, lighterage, oil-spill response and under water marine services,” it added.
A copy of Harbor Star Subic’s articles of incorporation showed its secondary purposes include carriage of goods and passengers in various ports of the Philippines and the world; trade and manufacture of salvage equipment; operation, building and owning of shipping vessels; and engagement in commercial diving.
The new company may also engage in importing, exporting and trading of coal, oil, bunker, construction material, rice, corn, and other commodities.
Lastly, Harbor Star Subic may conduct oil and chemical spill response operations to prevent or minimize environmental pollution caused by maritime accidents.
The P20-million authorized capital stock will be divided into 20 million shares with a par value of P1 apiece.
Its five incorporators, who will also serve as directors, are Geronimo P. Bella, Jr., Ricardo Rodrigo P. Bella, Ignatius A. Rodriguez, Damian I. Carlos, and Lorenzo C. Caranzo.