Minutes of the Meeting - General Assembly

AGENDA

❑ Call to Order (Chairperson)

❑ Roll Call (Secretary)

❑ Proof of Due Notice

❑ Declaration of Quorum

❑ Consideration of the Minutes of the Last years General Assembly Meeting (Chairperson)

❑ Business Arising from the Minutes

❑ Consideration of the Consolidated Report of the Board of Directors, Officers, and the Committees, including Audited Financial Statements of the Cooperative

❑ In – Progress Development Projects

❑ Adjournment

DETAILS OF DISCUSSION

1. Call to Order

The Chairperson of the Board, Alberto Gomez, presided and called the General Assembly Meeting to order at 1200Hrs on 17-March-2025, Monday.

2. Proof of Due Notice

The Secretary read the Proof of Due Notice for the 19th Annual General Assembly which was sent (1) months prior to 17 March 2025 by Posting in MMPC’s Official website, MMPC Facebook Account, in the conspicuous place like the elevator, and using electronic means via e-mail in compliance to the Article III section 20 of MMPC’s By Laws.

3. Roll Call and Declaration of Quorum

The Board Secretary, Ms. Ingerborg Karla Galarpe called the roll starting from the members of the Board of Directors up to the employees of MMPC, acknowledging the presence of the regular members.

After the roll call, Board Secretary, Ms. Ingerborg Karla Galarpe presented to Chair Gomez that out of 347 regular members, 261 regular members were present in this 18th Annual General Assembly Meeting constituting 25% of the regular members in good standing. Article III Section 22 of MMPC’s BY Law requires 25% for quorum, thereby declaring the 19th AGM in quorum.

4. Consideration of the Minutes of the Last years General Assembly Meeting

WHEREAS, the Regular Members of MMPC moved that the reading of the minutes of the 18th Annual General Assembly meeting be dispensed.

Upon a motion duly seconded and without any correction, the Minutes of the Previous General Assembly was approved.

5. Business Arising from the Minutes of the Meeting

6. Consideration of the Consolidated Report of the Board of Directors, Officers, and the Committees, including Audited Financial Statements of the Cooperative

I. Board of Directors Promulgated Resolutions Series of 2024

• RESOLVED, that the Board of Directors of the MARITIME MULTIPURPOSE COOPERATIVE has unanimously voted for the appointment of Mrs. Lineth L. Pijana as the new General Manager of Maritime Multipurpose Cooperative. This new changes will be implemented effective immediately.

  
  

• RESOLVED, that the Board of Directors of the MARITIME MULTIPURPOSE COOPERATIVE has unanimously approved to appoint Ingerborg Karla Galarpe as authorized representative of Maritime Multipurpose cooperative to all transactions with Globe Telecoms. This includes signing documents and approving contracts in behalf of Maritime Multipurpose Cooperative.

  • The MMPC Board of Directors has unanimously approved any of the two (2) MMPC Officers listed below to do any and all acts, to sign, execute and deliver, for and on behalf of the Cooperative the agreement/s, documents or instruments, checks and withdrawal slips, debit and credit instructions, forms, as well as renewals, amendments, or supplements thereto that may be prescribed under such terms and conditions that such officer/s may deem appropriate. Further, they are hereby authorized specifically to: (a) enter into and sign, execute and deliver all agreements, documents and instruments for additional or new deposit accounts/internet banking/cash management services; (b) designate/nominate the deposit account(s) to be covered by or necessary for the internet banking/cash management services; and (c) make subsequent changes on (b):

    
    

    1. Alberto Gomez (General Manager)

    2. Ma. Nenelita Gomez (Chairperson)

    3. Julie Ann Mallari (Treasurer)

• RESOLVED, that the Board of Directors of the MARITIME MULTIPURPOSE COOPERATIVE has reviewed and approved to appoint Mrs. Ma. Nenelita Gomez as Controller for the cooperative. Her duties include audit and overseeing collections and release of the cooperative’s funds

  
  

• RESOLVED, that the Board of Directors of the MARITIME MULTIPURPOSE COOPERATIVE has reviewed and approved the increase of processing fee for loans. Starting August 2024, loans processing fee will be at 3% of the principal loan amount in all that are approved for early release

  
  

• RESOLVED, that the Board of Directors of the MARITIME MULTIPURPOSE COOPERATIVE has reviewed and approved the impairment of the cash in vault amounting to PHP256,621.00

  
  

• RESOLVED, that the Board of Directors of the MARITIME MULTIPURPOSE COOPERATIVE has unanimously voted for the appointment of Mrs. Lineth L. Pijana as the new General Manager of Maritime Multipurpose Cooperative. This new changes will be implemented effective immediately.

  
  

• RESOLVED, that the Board of Directors of the MARITIME MULTIPURPOSE COOPERATIVE has unanimously approved to appoint Ingerborg Karla Galarpe as authorized representative of Maritime Multipurpose cooperative to all transactions with Globe Telecoms. This includes signing documents and approving contracts on behalf of Maritime Multipurpose Cooperative.

  
  

• RESOLVED, that the Board of Directors of the MARITIME MULTIPURPOSE COOPERATIVE has unanimously approved the release of IOC and PatRef to the members for year 2024 with the following conditions:

  • IOC Rate is 10.49%

  • PatRef Rate is 5.41%

  • Release Date is starting April 17, 2024 onwards

    
    

• RESOLVED, that it is hereby resolved that the Board of Directors has approved to give allowance the Board of Directors that are active in the loan processing approval New and Terminated Members

  
  

• RESOLVED, that it is hereby resolved that the Board of Directors has decided to appoint the following persons to represent the Maritime Multipurpose Cooperative in filing and appearance for the Small Claims Court Proceedings requirements and is authorized to enter into compromise agreement:

  1. Mavel Tigas MMPC Loan Processor

  2. Vivian C. Diolola MMPC Accounting Staff - Disbursement

• The Board of Directors has reviewed and approved to appoint the following MMPC Personnel as its representative in processing, submission and documentation of BIR Requirements and reports of the cooperative

  1. Lineth Pijana

  2. Vivian Diolola

  
  

• The Board of Directors has reviewed and approved to to appoint the following MMPC Personnel as its representative in processing, submission and documentation of submission and documentation required by the various Government Institutions

  1. Lineth Pijana

  2. Vivian Diolola

II. Treasurer's Report

III. Credit Committee Report

IV. 2024 Financial Reports

V. Important Updates

MMPC Amendment in By-Laws & Articles of Cooperation

• Membership

Members to all employees, seafarers and their families of companies that are

involved as stakeholders in the crewing industry such as but not limited to

crewing agencies and maritime training centers

• Mode of General Assembly

Online Regular General Assembly. For the purpose of expediency and to allow

greater participation. The regular general assembly can also be held online as stated in relevant sections

• Frequency of Board of Directors Meetings

The Regular Board of Directors meetings shall be held at least once every quarter

• New Committee: Gender and Development

Create the Gender Inclusive and Development Committee

• Common Bond

Change from Associational to Institutional

New Location of MMPC Ladies / Staff

MMPC Ladies will now hold office in ICP Lounge and Mezzanine Area

MMPC 20th Anniversary Celebration

• Raffle - All Attending members with an existing loan of 50,000.00 and Up

• Logo Making Contest

MMPC Online Loan Application Program

Improvements on MMPC Online Loan Application.

Loan Application can be saved and be revisited at a later date

MMPC Committees and Officers Allowances

Credit Committee Php1,100.00

Audit Committee Php 2,500.00 per project

BOD Php 500.00

Secretary Php 2,000.00

Treasurer Php 2,000.00

VI. Adjournment

The Presiding Officer, Chairperson, Mr. Alberto Gomez, thanked everyone for being present during this General Assembly Meeting.

Upon motion duly seconded, the Chairman closed and adjourned the meeting at 1330 Hrs.

Prepared By:

Ingerborg Karla Galarpe

Cooperative Secretary

Certified True and Correct By:

Alberto Gomez

Chairperson