MJC INVESTMENTS CORPORATION

MJCI Investments, Inc. (MII) was incorporated as Aries Prime Resources, Inc. in 1955 to engage in the mining business. MII eventually stopped its mining operations and changed its primary purpose from mining to that of an investment holding company on February 12, 1997. At present, MII has no subsidiary. Since the implementation of the change in its primary purpose, MII has been continuously exploring possible business and investment opportunities. MII previously acquired approximately 52,000 square meters of land in Tanza, Cavite and entered into a joint venture agreement with Sta. Lucia Realty & Development Inc. for development of the said property into a residential, commercial and golf course complex known as Saddle and Clubs. While the property has been partially developed, there is  

Show more

no selling being done. Hence, MII is not yet deriving any revenues from the project. MII relies on the project plan and schedule of the joint development partner. As of December 31, 2008, no amount had been spent on development activities for the last three fiscal years. Source: SEC Form 17-A (2008)