THE Department of Commerce’s Registrar of Corporations has terminated Rota Terminal and Transfer Co. Inc.’s legal existence and prohibited it from conducting any business activities at Rota seaport.
In an official notification to Rota Terminal President Victor B. Hocog and the company’s secretary Lola H. Marasigan, Registrar of Corporations Remedio C. Mafnas said Commerce’s records indicated that Rota Terminal is delinquent in filing its annual corporation reports for the years 2018-2023. She said the outstanding annual reports remain a violation of the CNMI Business Corporation Regulation Act.
Mafnas cited the NMI administrative code on business corporations, which states that corporations that fail to file required reports for an extended period may be subject to administrative dissolution by the Registrar of Corporations.
“This action effectively terminates the corporation’s legal existence and prohibits it from conducting business,” Mafnas said.
Pursuant to the law, she added, “effective immediately, Rota Terminal and Transfer Co. Inc. is prohibited from conducting any business activities until the outstanding reports are filed within 60 days and any associated fees and penalties are settled and until all tax arrears have been satisfied.”
In an interview on Tuesday, Rota Terminal Office Manager Viola H. Atalig said they filed their corporation report for the years 2018 and 2019.
She said they are doing their best to address issues pertaining to their business operations. She also said they will file the annual reports for 2020 to 2023 by the end of this week.
Rota Terminal, she added, is now working with its accountant in preparing the annual corporation reports.
She also said they remained in operation as of Tuesday because she had yet to receive Mafnas’ official notification.
“As of this time, I am waiting for Rota Commerce to get back to me regarding the 2018 and 2019 filing that was claimed as not filed. … I have copies of our receipts for the years 2018 and 2019 our company did in fact file on March 11, 2020,” she said.
She said they will file the reports for 2020 to 2023 once Mafnas “sends the payment voucher to their Rota office for me to make the necessary payment to be in compliance.”
In related news, Atalig provided Variety a copy of its new services rates that indicate an increase in equipment rental charges due to an increase in fuel prices.
She said the previous equipment rental rates that shipping agent Pete Q. Dela Cruz mentioned in his letter to the Commonwealth Ports Authority were from 2020 and not the rates that were last set in 2022.
She said since 2022, “with fuel and other operation expenses that have gone up, our company needs to make the necessary adjustments to meet its obligations in order to stay afloat.”
Rota Terminal’s crane rate at the port, Atalig said, is $400 per hour, while outside the port the rate is $600 per hour. As for forklift rentals, a 5T Forklift costs $275 per hour while a 2.5T Forklift costs $240 per hour.
