Manila Heavy Equipment Corporation (MHEC) was incorporated on September 10, 1996, with authorized capital of  $ 2.3 million. Authorized and paid-up capital amounted to $ 556,000 and $ 139,000 respectively. Office is situated at the 2nd floor of Lite Shipping Corp. building, at the corner of 14 G.L. Lavilles St. and MJ Cuenco Ave., Tinago, Cebu City.

   MHEC's main business activity is to engage in the importation, reconditioning, rehabilitation and trading of heavy equipment and trucks. Firm pioneered in selling reconditioned heavy equipment in Visayas and Mindanao areas. Commercial operations started in October 1996. Although newly organized, the firm asserted its leading role in the industry within 6 months from start -up . In a very short perod of time, the firm captured a good share of the marekt - selling an average of 30 units per month.

   When the Asian financial crisis struck in the 3rd quarter of 1997, MHEC - like all other construction related business, floundered. its phenomenal rise was arrested by the evaporating market, extraordinary peso devaluation and sluggish turnover of receivables. Firm was burdened withforeign currency denominated bank loans in the amount of US $ 8.0 million with 8 banks, 300 units of inventory, and over $ 2.2 million of problematic accounts receivable.

   To remain viable, MHEC, changed tack by focusing less on the private contractors and concentrating its marketing efforts on developing the local government market. Cultivating the LGU market was a move in the right direction, and was able to sell a substantial number of equipment to 5 provincial governments, 7 cities and over 50 municipalities.

   The company has weathered its huge financial problems with change in marketing thrust and the financial assistance from Lucio Roger E. Lim, Jr. and his group of companies. To-date bank obligation is only with Bank of the Phippine Islands in the amount of $ 490,000.

   With the boom in mining industry in 2002-2006, Manila heavy Equipment is focusing not only in importation/trading but also in ownership of mining claims all over the Philippines, and in being a mining contractor for selected mining companies in Mindanao area.

The company has at present the following mining concessions/claims(Exploration permit applications with the Philippine Mines and Geoscience Bureau)
   » Generoso and Mati, Davao, Oriental Nickel Claim 3,999 hectares
   » Dinagat Island, Surigao Nickel claim 197 hectares
   » Jose Abad Santos, Davao del Sur; copper/gold claim 15,000 hectares
   » Tboli, South Cotabato copper/gold mining claim 3,229 hectares
   » Gingoog, Misamis Oriental Nickel claim 4,000 hectares