The Corporation was organized on September 30, 1967 and registered with the Securities and Exchange Commission on January 26, 1968 with an initial authorized capital stocks of Php1,000,000.00. on November 10, 1977, the stock holders approved the increase in the authorized capital stock of the Corporation from Php 1,000,000.00.  The present subscribed and paid up capital stock is 14, 919,500.00.0. divided into 10,000 shares at Php 100.00 par value a share to Php10,000,000.00. divided into 60,000 shares Class A and 40,000 shares Class B at Php100 par value a share. this was approved by SEC on September 18, 1987. On April 30, 2005, the stocks holders approved the increase  an authorized capital  stock of the Corporation from 1,000,000.00. to 50,000,000.00 divided into 460,000 Class A shares and 40,000 Class B wtih a par value of 100.00 per share which was approved by SEC on March 2, 2006.