SEC Form 17-A: Annual Report - the solid group inc website

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(b)
Mergers of Certain Subsidiaries
On December 26, 2011 and January 10, 2012, the SEC approved the mergers of
SC and SMC; OLC and OSSI; respectively, whereby SMC and OSSI will be the
surviving entities. Both mergers became effective on January 1, 2012; hence,
starting that date, SC started to operate under the corporate name of SMC and
OLC under the corporate name of OSSI (see Note 1.1).
On May 28, 2012, SEC approved the merger of Mytel and My Solid, wherein
My Solid would be the surviving entity. The merger became effective on
June 1, 2012 (see Note 1.1).
The Group expects that these mergers will result in efficiency in operations and
management of the surviving entities, which will ultimately result positively in the
overall financial performance of the Group.
(c)
Phasing-out of Manufacturing Business and Related Services of Certain Subsidiaries
On November 23, 2009, the Parent Company’s management disclosed to the
public its plan of phasing-out its unprofitable manufacturing business and related
services, which include the plastic injection molding parts operations of Kita and
SLC, with the expectation that this will positively impact the overall financial
performance of the Group. Kita and SLC have ceased their plastic injection
manufacturing business as of December 31, 2010 (see Note 5).
1.3 Other Corporate Information
The registered offices and principal places of business of the Parent Company and its
subsidiaries, except those listed below, are located at 2285 Don Chino Roces Avenue
Extension, Makati City. The registered offices and principal places of business of the
other subsidiaries are as follows:
BRL - 2 nd Floor, Abbott Building, P.O. Box 933, Road Town, Tortola, British Virgin Islands
Kita - 7175 Gil Puyat Ave. cor. Feati St., Clark Freeport Zone, Clarkfield, Pampanga
OSSI - Ganado Street, Laguna International Industrial Park, Mamplasan, Biñan, Laguna
SMC and CBHI - 1000 J. Bocobo St., Ermita, Manila
SE Corp. - 1172 E. delos Santos Avenue, Balintawak, Quezon City
Starworld - Bo. Prinza, Calamba City
ZTC - 1111 Natividad A. Lopez Street, Brgy. 659-A, Zone 79 District 5, Ermita, Manila
PNCI - 139 Joy St. Balingasa, Quezon City
Fil-Dragon - 16 Zhujin Road, ASEAN Commercial Park, Nanning City, Guangxi Province, PRC.
My Solid and
SGTC - 2000 East Service Road Bicutan, Parañaque City
1.4 Approval for Issuance of Consolidated Financial Statements
The consolidated financial statements of the Group for the year ended December 31, 2012
(including the comparatives for the years ended December 31, 2011 and 2010) were
authorized for issue by the Parent Company’s BOD on April 8, 2013.