UNITED MARZ PETRO-CHEMICAL TRADING INC

Unit 2D & 2nd Floor Margimel Bldg., National Highway, Halang, Calamba City, 4027
www.marzfuel.com

MINUTES OF BOARD MEETING FOR TIPAZ

HELD AT MARZ FUEL HEAD OFFICE, BRGY. HALANG, CALAMBA CITY

Present

Mr. Danilo M. Bobis

Mr. Llano Renton
Mr. Lemuel Daclag Colarte
Mr. Alvin Reyes Gandara
Mr. Joey Dela Cruz
Mr. Augustino M. Carandang
Mr. Rodrigo Calimlim Zepeda
Ms. Lea M. Primaleon
Mr. Arnie Gajudo (with pending pull-out checks)

Call to order
- The meeting started at 10:20 in the morning.
- Discussion on why the Tayabas Station suffers from an almost a year without income for the Co-
Owners. Questioning how the Marz Fuel management solve the crisis of not having an income
for almost a year of operation.
- Explaining the recently uploaded Income and Expense Summary to the website of Marz Fuel.
- Mr. Joey Dela Cruz and Mr. Augustino M. Carandang ask about what are the key factors on why
the Tayabas Station cannot generate an accurate number of sales to cover all the operation
expenses from the previous quarters.
- Factors such as the location of the station and competitors near within the vicinity can affect the
daily sales.
- Mr. Joey Dela Cruz suggested to move forward and create a solution to all the problems instead
of explaining the unsured reason of not having an income from the previous quarters.
- There are total of 81 co-owners based on the turn overed files from the past team of the Marz
Fuel and the sum of P13 M as the Total Contributed Capital.
- Bauan and Cuenca Station are now under the management of Co-owners. They insist to operate
by themselves.
- Mr. Joey Dela Cruz ask for any suggestions on how to make a good solution for the recent
problem that may last for a few years. Mr. Dela Cruz wanted the Marz Fuel management to buy
back the amount he invested as one of the Co-owners of Tayabas Marz Fuel Inc.
- Electing a group of officers to create a great impact of having a good business between the Marz
Fuel and the co-owners of Tayabas Station. Mr. Alvin Gandara refuse to have an election of
officers because he insists that it cannot help the problem of the station.
- The elected officers will take a big part on the decision-making process to improve the operation
and other activities on the station.
- Mr. Arnie Gajudo concerns about the unreleased checks for his pullout request. It runs over a past
few years since he gets his first 2 moths of payment for his withdrawal and then nothing follows
either update from the Marz Fuel head office.
 UNITED MARZ PETRO-CHEMICAL TRADING INC
Unit 2D & 2nd Floor Margimel Bldg., National Highway, Halang, Calamba City, 4027
www.marzfuel.com

- Withdrawal or pullout request will be process based on the financial status of the station. Mr.
Joey Dela Cruz objects and states that the Marz Fuel management should pay the co-owners with
request of withdrawal because it has its separate income and it should not come from the income
of the stations.
- Suggestion to the Co-owners to sell the Tayabas Station to different company or take over the
operation and create a new business name.
- Mr. John Louie Trinidad introduce himself as the acting Finance Head of the United Marz Petro-
Chemical Trading Inc. and explain that based on the uploaded reports and statements that there is
a loss on every quarter of operation because the sales per quarter cannot cover all the operating
expenses.
- Mr. Llano Renton ask why there is a big difference on the presented amounts of Salaries and
Wages between the year 2020 and 2021. Mr. Trinidad explains about the Income Smoothing, or
presentation of a good financial condition just to pacify the co-owners even it is not true.
- The process of selling the station cannot be done because there is no ownership of the land as per
Mr. Dela Cruz. Prospect buyers of the business establishment should be entertaining by the Marz
Fuel management. The BOD of Tayabas disagree on the suggestion of taking over the operation
of the station because some are out of the country.
- Mr. Dela Cruz appreciates the meetings conducted by the present Marz Fuel team and said that
the founders should be the one who is answering their concerns or questions.
- Net book value of Tayabas Station is P8,808,798.00. The selling price of the station will be based
on the hired appraiser.
- Mr. Lemuel Colarte is willing to become the point person of the Tayabas Board Designates for
the schedules of meetings and updates about the concerns. Mr. Dela Cruz suggested to have a
regular zoom meeting every week. The next meeting is on the next Wednesday. Nov 17, 2021.
- Mr. Louie agreed on the suggested meeting and will send the statement of Total Capital
Contribution within November 10, 2021.

Adjournment

The Board Meeting was adjourned at exactly 12:02 pm.

Prepared by: Attended by:

Ralph Ryann L. Atienza

Co-owners Relation Officer