June 18, 2019
Today, I feel honored to deliver the President’s Report on my first ever Annual Stockholder’s Meeting with MRC Allied. As I look back and reflect in the last 7 months of being with the company, I want to thank the Management Team for welcoming me into the company. They made the transition easy for me and were readily available to provide all the necessary information as I came onboard.
As the new skipper of the ship I have made sure to continue what was good, tweak what was not working and continuously look for ways that will improve the company. As a matter of priority, I made sure that we conducted a Strategic Planning at the start of 2019 to make sure that we consolidate plans, infuse new directives and work out on timelines. This will serve as our roadmap for the short, midterm and long-term plans or the company. Indulge me with your attention as I share with you the Plans we have drafted and the direction we would like to take for MRC :
We will continuously beef up the Business Development and Operations Team with individuals who have expertise in the energy Sector.
We will use the approved Table of Organization from the Board to accommodate the Business Development Unit and Operations Unit.
Compliance and submission of Annual Reports, Quarterly Reports, Financial Statements and other regulatory compliances.
Approvals during the conduct of Annual Stockholders Meeting and/or Special Stockholders Meeting as necessary.
Continuously implement transparency and compliance in all aspects of the company.
Complete the Rice Mill and Mall Solar PV Rooftop Projects through Menlo Renewable Energy Corp. (MREN)
Continue the Solar Rooftop PV Portfolio with a target capacity of 12MW in the next two years.
Continue with the current Utility Scale projects within the umbrella of MRC such as SEPALCO 50MW Solar Project, 100MW Clark Solar Project and 60MW Naga Solar Project.
Indeed, the last seven months has been challenging at the same time encouraging. We are challenged to continuously work for MRC’s success and we are encouraged to deliver, produce results, exceed stockholder’s expectations as well as eventually improve shareholder’s value.
AUGUSTO “GUS” M. COSIO, JR.
President & CEO