Industrial Services &

AEON Engineered Products, Inc.

No. 54 D.R. Castaneda St., Brgy. Pleasant Hills, Mandaluyong City
Tel. (632) 534-8685 * Globe: (02) 955-9159 * Fax: (632) 534-7710

IPM CONSTRUCTION & DEV’T CORP. September 30, 2020

No. 10, Brixton Street, Brgy Kapitolyo,
Pasig City

Attention: Mr. Celerino S. Paredes

Exe. Vice President/BAC Chairman
Bids and Award Committee

Subject: Progress Billing No. 2 Request for Payment under to Purchase Order No.
207172-Mechanical Sluice Gate for Umiray-Angat Transbasin
Rehabilitation Project Phase II

Dear Mr. Paredes,

Greetings.

We would like to raise concern about the project payment of Progress Billing No. 2
intented for mechanical items and for imported lifting mechanism. The manufacturer
Nippon Gear Corp. of Japan is already raising hell making weekly follow-ups on the
unpaid electric actuators sitting idle in their warehouse since July.

To date, we are still waiting for the payment amounting to Php 15,645,186.84,
eventually reduced by your Operations Manager to Php 11,739,089.70. Surety bonds
extension are already requested to your broker. All billing checklist and project
performance submittals are complied.

This portion of the project constitute the largest part of accomplishment. Without the
payment and the said materials we have to stop our work at the site.

We hope you understand the gravity of the situation.

Thank you in advanced for your consideration.

Sincerely,

Mr. Greg C. Ortega

General Manager

AEON Industrial Services & Page 1

Engineered Products Inc.