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2 | 8990 Holdings, Inc. Annual Report 20152 | 8990 Holdings, Inc. Annual Report 2015
“More than building houses, our business is really about adding value, transforming people’s lives: that of our customers, employees, sellers, suppliers and contractors, and now, the people who invest in us.”
Over 85 years of Combined ExpertiseThree Partners, One Vision
8990 Holdings, Inc. Annual Report 2015 | 38990 Holdings, Inc. Annual Report 2015 | 3
OPERAT IONALHIGHLIGHTS
ongoing projects
employees branches mass housing developer in the Philippines
128990By The
Numbers
16
39
285 7 No. 1
42,884 PHP 19B
years of corporate existence completed projects
constructed housing units outstanding receivables
4 | 8990 Holdings, Inc. Annual Report 20154 | 8990 Holdings, Inc. Annual Report 2015
Total Revenuesin PHP billion
Gross Profitin PHP billion
Net Marginafter tax
Total Salesin number of units
Net Incomeafter tax, in PHP billion
Current Ratio Total Assetsin PHP billion
Retained Earnings in PHP million
Total Equityin PHP billion
Return on Equity CollectionEfficiency
Total Receivablesin PHP billion
FY2
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F INANCIALHIGHLIGHTS
Sustaining Growth in Shareholder Value
8990 Holdings, Inc. Annual Report 2015 | 58990 Holdings, Inc. Annual Report 2015 | 5
Staying Ahead of the Curve2015 was another banner year for 8990 Holdings. Our contract to sell (CTS) receivables reached P19 billion with more than 20,000 accounts, while our CTS portfolio yielded P1.2 billion in recurring income this year, representing a 34% jump from 2014. Building on our core business performance, net earnings have grown almost 50-fold over the past 12 years, and more than 250% in the last three. In 2015, our total assets soared by a third to P36 billion, mainly due to new land purchases and in-house financing receivables.
A significant milestone was our agreement with Ayala-owned BPI in the fourth quarter, under which its retail banking subsidiary, BPI Family Bank, purchased P1.0 billion worth of 8990’s CTS receivables. This paved the way for the creation of alternative housing finance in the private sector not only for 8990 Holdings but also for the entire mass housing sector, with other banks and financial institutions joining the fray.
We signed a landmark deal with Manila Electric Co. (Meralco) for the mass roll-out of prepaid electricity in our horizontal and vertical projects. Prepaid power will soon be available in our first high-rise development, Urban Deca Tower EDSA, now rising along Metro Manila’s main thoroughfare. As the first prepaid Meralco-powered condominium in the Philippines, this “halfway house” provides a solution to address the transport congestion problem as well as the decreasing quality of life in the National Capital Region.
Our cornerstone investors, Khazanah Nasional Berhad of Malaysia and TPG Capital of the United States, continue to participate in the Philippine economic growth story. We also forged new partnerships with Megawide (construction and engineering services), ITECH-RAR (fiber-to-the-home solutions), CHAIRS (housing research), and OSHDP (socialized housing development).
Considered the country’s first truly nationwide mass housing developer, 8990 pioneered the low equity, low down payment terms and other market innovations that have enabled us to stay ahead of the curve. We aim to maintain our leadership
position in the housing industry by innovating, trailblazing, and setting the example for other developers to emulate.
Together with our management team and corporate workforce, we thank our shareholders and Board of Directors for keeping the faith in our mission of “Housing the Filipino People.”
JANUARIO JESUS GREGORIO B. ATENCIO IIIPRESIDEnT AnD CEO
6 | 8990 Holdings, Inc. Annual Report 2015
Projects for Launch in 2016
Project Type Location TotalUnits
Units to be Delivered for 2016
Value (in M Php)
DH Marilao Horizontal Bulacan 6,378 320 288
Urban DH Hampton MRB Cavite 1,988 528 581
Urban DH Mahogany MRB Cavite 546 400 440
DH Sta. Barbara Horizontal Iloilo 10,189 280 126
DH Pavia RR 2 Horizontal Iloilo 2,967 706 692
DH Baywalk Talisay 3 Horizontal Cebu 730 570 533
Urban DH Hernan Cortez MRB Cebu 1,596 440 550
DH Mactan 6 Horizontal Cebu 8,537 280 274
Urban D Tisa MRB Cebu 2,867 400 440
DH Toril Horizontal Davao 6,800 80 76
DH Mulig 1 Horizontal Davao 7,005 280 128
DH San Lorenzo Horizontal Davao 3,749 520 510
Urban DH Manila MRB Manila 13,212 2,112 2,513
DH Bacolod South Horizontal Bacolod 9,044 160 136
Total 75,608 7,076 7,287
In 2016, 8990 will start 14 new projects, adding 75,608 units to the inventory.
OUR PROJECTS
!"#$%&'()*+(%,-%,.'&/+0,1(%
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Mindanao DECA HOMES TORILToril, Davao CityTotal No. of Units: 6,273Date to Finish: Dec 2019
DECA HOMES MULIGToril, Davao CityTotal No. of Units: 6,804Date to Finish: Dec 2019
DECA HOMES SAN LORENZOBuhangin, Davao CityTotal No. of Units: 2,853Date to Finish: Jun 2018
8990 Holdings, Inc. Annual Report 2015 | 7
Projects for Launch in 2016
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>0(/a/(%
Visayas
URBAN DECA HOMES H. CORTESMandaue City, CebuTotal No. of Units: 1,432 Date to Finish: Jan 2018
URBAN DECA HOMES MACTANLapu-Lapu City, CebuTotal No. of Units: 7,084 Date to Finish: Jan 2024
DECA HOMES MACTAN 6Lapu-Lapu City, CebuTotal No. of Units: 3,446Date to Finish: Jan 2024
8 | 8990 Holdings, Inc. Annual Report 2015
OUR PROJECTS
Visayas
DECA HOMES PAVIA RESORT AND RESIDENCES 2Pavia, IloiloTotal No. of Units: 2,982 Date to Finish: Feb 2018
DECA HOMES SANTA BARBARASanta Barbara, IloiloTotal No. of Units: 10,262 Date to Finish: Jun 2018
DECA HOMES BACOLOD SOUTHBacolod City, Negros OccidentalTotal No. of Units: 9,044Date to Finish: TBA
DECA HOMES BAYWALK TALISAY 3Talisay City, CebuTotal No. of Units: 729Date to Finish: Sep 2016
!"#$%&'()*+(%,-%,.'&/+0,1(%
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>0(/a/(%
Projects for Launch in 2016
8990 Holdings, Inc. Annual Report 2015 | 9
!"#$%&'()*+(%,-%,.'&/+0,1(%
)&N/1%5'8/%4,<'(%</10*/%
R,A*C!a,W!,-!@21A+h! ! !"?9="=!@a\RD!J%&H%2A!,-!.,/6C%7,2h! !;Q!B*A%!A,![121+Ih ! ! !B%H%/0%&!=;":!!
18&%
Luzon
URBAN DECA HOMES MANILATondo, Metro ManilaTotal No. of Units: 13,212Date to Finish: Dec 2019
DECA HOMES MARILAOMarilao, BulacanTotal No. of Units: 6,378Date to Finish: TBA
URBAN DECA HOMES HAMPTONImus City, CaviteTotal No. of Units: 6,378Date to Finish: TBA
URBAN DECA HOMES MAHOGANYImus City, CaviteTotal No. of Units: 546Date to Finish: TBA
Projects for Launch in 2016
10 | 8990 Holdings, Inc. Annual Report 2015
Ongoing Projects
Project Type Location TotalUnits
Units to be
Delivered for 2016
Value (in M Php)
DCRR (Socialized) Horizontal Angeles 1,359 29 18
DCRR (Economic) Horizontal Angeles 3,145 1,502 1,352
DCRR (SA) Horizontal Angeles 328 42 55
DH Tanza Horizontal Cavite 632 240 114
Urban DH Campville MRB Muntinlupa 1,068 536 687
DH Pavia RR Horizontal Iloilo 2,125 644 631
Urban DH Tisa 1 MRB Cebu 936 269 296
DH Indangan Horizontal Davao 2,840 547 602
DH Catalunan Horizontal Davao 720 360 396
DH GenSan (Socialized) Horizontal Gen. Santos 2,531 960 442
DH GenSan (Economic) Horizontal Gen. Santos 249 249 212
Total 15,953 5,377 4,815
Eleven ongoing projects will provide an additional 5,377 units nationwide, with a value of P4.8 Billion.
Both new and ongoing projects will provide a total of 12,453 housing units and a gross value of P12.0 Billion for 2016.
OUR PROJECTS
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Mindanao
DECA HOMES GENSAN 1General Santos City, South CotabatoTotal No. of Units: 2,778Percent Completion: 26%Date to Finish: May 2016
8990 Holdings, Inc. Annual Report 2015 | 11
Ongoing Projects
!"#$%&'()*+(%,-%,.'&/+0,1(%
R,A*C!a,W!,-!@21A+h! ! !?9=?:!@a\RD!J%&H%2A!,-!.,/6C%7,2h! !8:Q!B*A%!A,![121+Ih ! ! !D4JR4FL4G!=;"<!
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R,A*C!a,W!,-!@21A+h! ! !<>:!@a\RD!J%&H%2A!,-!.,/6C%7,2h! !=<Q!B*A%!A,![121+Ih ! ! !FTi!=;"<!
<015/1/,%
Mindanao
DECA HOMES INDANGANBuhangin, Davao CityTotal No. of Units: 3,239Percent Completion: 79%Date to Finish: Sep 2016
Mindanao
DECA HOMES CATALUNAN GRANDETalomo, Davao CityPercent Completion: 26%Date to Finish: May 2016
12 | 8990 Holdings, Inc. Annual Report 2015
!"#$%&'()*+(%,-%,.'&/+0,1(%
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>0(/a/(%Visayas
DECA HOMES PAVIA RESORT AND RESIDENCESPavia, IloiloTotal No. of Units: 2,125Percent Completion: 44%Date to Finish: Jun 2016
!"#$%&'()*+(%,-%,.'&/+0,1(%
)&N/1%5'8/%4,<'(%+0(/%
R,A*C!a,W!,-!@21A+h! ! !:8<!@a\RD!J%&H%2A!,-!.,/6C%7,2h! !<?Q!B*A%!A,![121+Ih ! ! !pE2%!=;"<!!
>0(/a/(%Visayas
URBAN DECA HOMES TISALabangon, CebuTotal No. of Units: 976Percent Completion: 63%Date to Finish: June 2016
Ongoing Projects
OUR PROJECTS
8990 Holdings, Inc. Annual Report 2015 | 13
!"#$%&'()*+(%,-%,.'&/+0,1(%
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(,)+4%*)l,1%
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(,)+4%*)l,1%
South Luzon
DECA HOMES BELLAVISTAGeneral Trias, CaviteTotal No. of Units: 3,881Percent Completion: 92%Date to Finish: March 2016
South Luzon
DECA HOMES TANZATanza, CaviteTotal No. of Units: 632Percent Completion: 73%Date to Finish: Mar 2016
Ongoing Projects
14 | 8990 Holdings, Inc. Annual Report 2015
Ongoing Projects
OUR PROJECTS
!"#$%&'()*+(%,-%,.'&/+0,1(%
R,A*C!a,W!,-!@21A+h! ! !(9=?8!@a\RD!J%&H%2A!,-!.,/6C%7,2h! !(:Q!B*A%!A,![121+Ih ! ! !B%H%/0%&!=;"<!!
1DMXS%*OdDH%5'8/%8*/&b%&'(,&+%/15%&'(05'18'(%%%
North Luzon
DECA CLARK RESORT AND RESIDENCES Angeles City, PampangaTotal No. of Units: 5,237Percent Completion: 59%Date to Finish: Dec 2016
!"#$%&'()*+(%,-%,.'&/+0,1(%
)&N/1%5'8/%4,<'(%8/<.>0**'%
R,A*C!a,W!,-!@21A+h! ! !"9;=>!@a\RD!J%&H%2A!,-!.,/6C%7,2h! !?"Q!B*A%!A,![121+Ih ! ! !F*&HI!=;"8!!
18&%
NCR
URBAN DECA HOMES CAMPVILLEMuntinlupa City, Metro ManilaTotal No. of Units: 1,024Percent Completion: 31%Date to Finish: Mar 2017
8990 Holdings, Inc. Annual Report 2015 | 15
Ongoing Projects
!"#$%&'()*+(%,-%,.'&/+0,1(%
)&N/1%5'8/%+,?'&%Z%'5(/%
R,A*C!a,W!,-!@21A+h! ! !"9">'!@a\RD!J%&H%2A!,-!.,/6C%7,2h! !?<Q!B*A%!A,![121+Ih ! ! !D%6A%/0%&!=;"8!J&,P%HA!DA*AE+h ! ! !<(W'"!3*)+!*I%*3!
18&%NCR
URBAN DECA TOWER - EDSAMandaluyong City, Metro ManilaTotal No. of Units: 1,148Percent Completion: 36%Date to Finish: Sep 2017Project Status: 65.81 days ahead
16 | 8990 Holdings, Inc. Annual Report 201516 | 8990 Holdings, Inc. Annual Report 2015
ANGELES BRANCH4,486 Units Delivered 2 Subdivisions Made Responsible of 15% of Revenue 30 branch Personnel 14.7 ha. has in Land Bank 2 Ongoing Projects
METRO MANILA BRANCH316 Units Delivered 50 branch Personnel 71.93 ha. has in Land Bank 4 Ongoing Projects
ILOILO BRANCH2,792 Units Delivered 2 subdivisions Made Responsible of 14% of Revenue 33 branch Personnel 191.37 ha. has in Land Bank 1 Ongoing Project
SOON TO OPEN: BACOLOD BRANCH
GENERAL SANTOS BRANCH280 Units Delivered Responsible of 1% of Revenue 2 branch Personnel 1 Ongoing Projects
8990 Holdings:We’re Building a DECA Nation
OUR PROJECTS
8990 Holdings, Inc. Annual Report 2015 | 178990 Holdings, Inc. Annual Report 2015 | 17
SOON TO OPEN: BACOLOD BRANCH
SOON TO OPEN: MARILAO BRANCH
CAVITE BRANCH4,396 Units Delivered 5 subdivisions Made Responsible of 32% of Revenue 27 branch Personnel 5.2 ha. has in Land Bank 2 Ongoing Projects
CEBU BRANCH16,302 Units Delivered 15 subdivisions Made Responsible of 14% of Revenue 82 branch Personnel 42.73 ha. has in Land Bank 2 On going Projects DAVAO BRANCH
12,867 Units Delivered 10 subdivisions Made Responsible of 24% of Revenue 62 branch Personnel 173.61 ha. has in Land Bank 4 Ongoing Projects
18 | 8990 Holdings, Inc. Annual Report 2015
OUR PARTNERS
Business and Industry
center for housing and independent research synergies
20 | 8990 Holdings, Inc. Annual Report 2015
To fully comply with the leading practices in good governance, our Board of Directors establishes the vision, strategic objectives, key policies, processes and procedures for the Management of 8990 Holdings Inc., as well as the mechanism for monitoring and evaluation of Management’s performance.
The Company submitted its Manual on Corporate Governance to the Philippine Securities and Exchange Commission (SEC) on October 18, 2010 in compliance with SEC Memorandum Circular No. 6, series of 2009. The Company’s directors, officers, and employees have complied with the best practices and principles on good corporate governance as embodied in its Corporate Governance Manual, which requires the Company to have at least two independent directors in the Board of Directors.
As part of its system for monitoring and assessing compliance with the Manual and the SEC Code of Corporate Governance, each committee is required to report regularly to the Board of Directors, and the Manual is subject to quarterly review. The Compliance Officer, who is appointed by the Board and reports directly to the Chairman of the Board, is responsible for determining and measuring compliance with the Manual and the SEC Code of Corporate Governance.
In its belief that the essence of corporate governance is transparency, the Company ensures that all material information which could adversely affect its viability or the interests of its shareholders be publicly and timely disclosed. In addition to the compliance with periodic and structural reportorial requirements, the Company ensures that all material information such as earnings results, acquisition or disposition of assets, off-balance sheet transactions, related party transactions, and direct and indirect remuneration of members of the Board and Management are timely disclosed to the SEC as well as to the Philippine Stock Exchange (PSE) and the public through appropriate PSE mechanism and submissions to the SEC. The Company likewise updates the public through its Website which is updated on a regular basis.
At least one of the independent directors serves on the Governance Committee, the Nomination Committee, and the Audit and Risk Management Committee. The Board created and appointed Board members to each of the committees set forth below. Each member of the respective committees named below holds office as of the date of this report and will serve until his or her successor is elected and qualified.
CORPORATECIT IZENSHIP
Our Corporate Governance PracticesEXECUTIVE COMMITTEEMariano D. Martinez, Jr.Luis N. Yu, Jr.Januario Jesus B. Atencio IIIRichard L. Haosen
AUDIT AND RISK MANAGEMENTCOMMITTEEArlene C. Keh – ChairmanLuis N. Yu, Jr.Mariano D. Martinez, Jr.Ben Chan Wei BengDominic J. Picone
NOMINATION ANDCOMPENSATION COMMITTEEWillibaldo J. Uy – ChairmanDominic J. PiconeJanuario Jesus B. Atencio III
GOVERNANCE COMMITTEEWillibaldo J. Uy – ChairmanBen Chan Wei BengJanuario Jesus B. Atencio III
8990 Holdings, Inc. Annual Report 2015 | 21
Our Corporate Social Responsibility InitiativesIn 2015, we partnered with the Department of Education (DepEd) for various projects such as the feeding program at Pilar Rodriguez Elementary School in Davao City; the Brigada Eskwela program at Pavia national High School in Iloilo; and the donate-a-school-bag project at Barangay Margot, Angeles City.
Inset on the left shows the citation given to 8990 by DepEd Secretary Br. Armin Luisto, FSC.
24 | 8990 Holdings, Inc. Annual Report 201524 | 8990 Holdings, Inc. Annual Report 2015
OUR TE AM
LuzonNORTH LUZON BRANCH
SOUTH LUZON BRANCH
8990 Holdings, Inc. Annual Report 2015 | 258990 Holdings, Inc. Annual Report 2015 | 25
Metro Manila
NCR BRANCH/MAKATI OFFICE/MANDALUYONG OFFICE
26 | 8990 Holdings, Inc. Annual Report 201526 | 8990 Holdings, Inc. Annual Report 2015
OUR TE AM
Board of Directors
LUIS N. YU JR.Director and Chairman Emeritus
WILLIBALDO J. UYChief Operating Officer
ANTHONY VINCENT S. SOTTODirector
MANUEL C. CRISOSTOMOIndependent Director
RICHARD L. HAOSENDirector
MARIANO D. MARTINEZ JR.Chairman of the Board
JANUARIO JESUS GREGORIO B. ATENCIO IIIPresident and CEO
ARLENE C. KEHIndependent Director
IAN NORMAN E. DATODirector
LOWELL L. YUDirector
MANUEL DELFIN JR.Director
RAUL FORTUNATO R. ROCHADirector
BEN CHAN WEI BENGDirector
DOMINIC J. PICONEDirector
8990 Holdings, Inc. Annual Report 2015 | 278990 Holdings, Inc. Annual Report 2015 | 27
Board of Directors
Corporate ExecutivesGENERAL MANAGERS
GM - Visayas MARIA RHENA M. CACERES GM - Mindanao MARY ANN T. CHUA GM - Treasury RICHARD L. HAOSEN GM - Construction and Engineering ALEXANDER ACE S. SOTTO GM - Operations ANTHONY VINCENT S. SOTTO GM - Sales, NCR DENNIS D. LIM Acting Chief Finance Officer ROAN B. TORREGOZA
ASSISTANT GENERAL MANAGERS AGM - Management Information System ANTONIO I D. BALLERAS AGM - Planning PEDRITO A. CASTANIAGA AGM - Operations, North Luzon NICOLAS S. CRUZ III AGM - Operations, Davao JULIET B. DOMINGO AGM- Construction and Engineering JAMES ARNOLD S. ESTAVILLA AGM - Accounting CAROLINE C. GARCIA AGM - Operations, Cebu ARIEL JOSE S. MERCADO AGM - Credit and Collection ADELMA B. RECAMARA AGM - Operations, Iloilo GLENN D. ROMANILLOS AGM - Operations, NCR & South Luzon MARIA ALELI T. VILLACORTE
28 | 8990 Holdings, Inc. Annual Report 201528 | 8990 Holdings, Inc. Annual Report 2015
BUSINESSPORTFOLIO
The 8990 Business Model
FAST PRE-CAST PANEL WALL CONSTRUCTION
ACCESSIBLE IN-HOUSE FINANCING
PROACTIVE CREDIT AND COLLECTION PLATFORM
EFFICIENT RESOURCE ALLOCATION8 days construction15,000 units capacity Economies of scaleLower materials costHigh quality of panelsIncreased site efficiency
REALITY-BASED RISK MANAGEMENT2-5 % equity9.5% interest25-year term, 30% GFIP35K gross family income
BEHAVIORAL ECONOMICSComprehensive and integratedEmphasis on behavior modification Required financial literacy seminar93% collection efficiency
!!!!!!!!!!!!!!!!
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Accessible In-House Financing
Proactive Credit and Collection
Platform
Fast Pre-Cast Panel
Wall Construction
!!!'!3*)+9!"(9;;;!E21A+!H*6*H1A)W!!!!!4H,2,/1%+!,-!+H*C%9!!!!K,S%&!/*A%&1*C+!H,+A9!!!!!X1OI!VE*C1A)!,-!6*2%C+9!!!!!\2H&%*+%3!+1A%!%^H1%2H)W!
!.,/6&%I%2+1$%9!12A%O&*A%3!!4/6I*+1+!,2!L%I*$1,&!F,31_H*7,29!!!!!!!G%VE1&%3![12*2H1*C!K1A%&*H)!D%/12*&9!!:?Q!.,CC%H7,2!4^H1%2H)!
Efficient Resource Allocation
Reality Based Risk Management
Behavioral Economics
The 8990 Business Model Emphasis !!!!!!!!!!!!!!!!
!=N(!Q!4VE1A)9!!!:W(Q!12A%&%+A9!!=(N)%*&!A%&/9!?;Q!Y[\!!J?(]!Y&,++![*/1C)!\2H,/%!
Accessible In-House Financing
Proactive Credit and Collection
Platform
Fast Pre-Cast Panel
Wall Construction
!!!'!3*)+9!"(9;;;!E21A+!H*6*H1A)W!!!!!4H,2,/1%+!,-!+H*C%9!!!!K,S%&!/*A%&1*C+!H,+A9!!!!!X1OI!VE*C1A)!,-!6*2%C+9!!!!!\2H&%*+%3!+1A%!%^H1%2H)W!
!.,/6&%I%2+1$%9!12A%O&*A%3!!4/6I*+1+!,2!L%I*$1,&!F,31_H*7,29!!!!!!!G%VE1&%3![12*2H1*C!K1A%&*H)!D%/12*&9!!:?Q!.,CC%H7,2!4^H1%2H)!
Efficient Resource Allocation
Reality Based Risk Management
Behavioral Economics
The 8990 Business Model Emphasis !!!!!!!!!!!!!!!!
!=N(!Q!4VE1A)9!!!:W(Q!12A%&%+A9!!=(N)%*&!A%&/9!?;Q!Y[\!!J?(]!Y&,++![*/1C)!\2H,/%!
Accessible In-House Financing
Proactive Credit and Collection
Platform
Fast Pre-Cast Panel
Wall Construction
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Efficient Resource Allocation
Reality Based Risk Management
Behavioral Economics
The 8990 Business Model Emphasis
8990 Holdings, Inc. Annual Report 2015 | 298990 Holdings, Inc. Annual Report 2015 | 29
Our Brands and Real Estate Offerings
Pre-cast solid housessold below USD 35,000.00 / unit
TownhousesSingle Attached Units35-120 sqm. Lots35-60 sqm. Houses
MRB Condo Units25 sqm.
High-rise Condo Units13 sqm.
30 | 8990 Holdings, Inc. Annual Report 2015
BUSINESSPORTFOLIO
Our High Value Amenities
Basketball courts Lakes
Swimming pools Clubhouses Churches
Entrance gates Wakeboarding
Awards and Citations
Best Mid-Cap CompanyAsia’s Best Companies 2015
Most Number of Subdivision Units Licensed Under BP 220
Housing and Urban Development Council, 2013
Top 10 Developers 2015 PhilippinesBCI Asia
No. 1 Top Developer Corporate-Widein terms of Take-Out Value
Pag-IBIG Fund, 2016
11th Floor, Liberty Center, 104 H.V. Dela Costa St.,
Salcedo Village, Makati City, Philippines 1200
Tel. (632) 478-9659 • Fax (632) 478-8987 •
[email protected] • www.8990holdings.com
11th Floor, Liberty Center, 104 H.V. Dela Costa St.,
Salcedo Village, Makati City, Philippines 1200
Tel. (632) 478-9659 • Fax (632) 478-8987 •
[email protected] • www.8990holdings.com