IN THE KNOW

PHILREM Service Corp. was registered with the Securities and Exchange Commission (SEC) on Sept. 24, 1998, “to engage in the business of remittance of money currency from abroad to be delivered to different parts of the Philippines.”

Philrem’s principal office is located at Room 916, Cityland 10, Tower 1, on Ayala Avenue Extension in Makati City, according to its General Information Sheet filed with the SEC in March last year.

Its officers are Salud R. Bautista (president), Michael S. Bautista (treasurer), Florencio Eulogio Reyes, Norlito Palmares and Michelle A. Fabra.

Incorporators of the company were Salud and Michael Bautista, Francisco Alido Jr., Romeo Monton and Palmares.

In its latest financial statements filed with the SEC in December 2014, Philrem had total assets amounting to P15.1 million in 2014 and posted a net income of P373,951.62.  Inquirer Research