b

2nd PN EXTENSION

LENDING UNIT/AO: LNLD1/ VVADRIANO/ ADE NON-DOSRI

DATE : 30 OCT 2018 CREDIT MEMORANDUM NO.:
BORROWER NAME: SINCE LINE OF BUSINESS RATING
Refilling/Distribution of Medical & FROM TO
Industrial Gases
WYNNPOOL INDUSTRIAL GASES INC. 2016
AGRI CATEGORY: No
PSIC CODE: 35200 BBB6
A6 Below
Below
TYPE OF ORGANIZATION: RAAC
RAAC
Corporation

BORROWER GROUP: N/A BORROWER’S CODE: GROUP RATING: n.a.

ADDRESS
No. 89 Bayanihan, Gapan City Nueva Ecija
DEPOSITOR SINCE: 2016 BRANCH: Balanga ADB: GROUP ADB: n/a
2016 2017 2018
P 1.63M P 3.6M P 2.7M
PROJECTED APA/APR: 3.86% / 1.01M ACTUAL APA/APR: 3.56% / 601K
PRESENT BALANCE: P 2.7M PRINCIPAL PAYMENT:
2016 2017 2018
Term Loan P 1.26M P 1.77M P 1.89M
RPNL P 1.0M - -

PROPOSED TRANSACTION:
1. Allow 2nd PN extension for thirty (30) days on the existing credit line of the subject client amounting to P 8.0M with details as
follows:
1st PN 2nd PN Total Days
Facility PN No. Original Interest Original Extension Extension extended
amount rate Maturity

RPNL 803400050003997 P 8.0M TPR + 4% 09.04.2018 10.31.18 11.30.18 87 days

p.a

2. Transaction Fee to be collected upon line renewal.

3. Allow 1st deferment on submission of Original Request Letter of Extension and Notice of Approval for 7 days provided scan
copy or email request is given by clients.
-All other terms and conditions not inconsistent with the attached approved CP No.17-0217 shall be in full force and effect.
BORROWING ACCOUNT COLLATERAL COVER
Facility Line/Loan O/B Status Collateral AV LV CAR Date
Description
Existing:
EXISTING
RPNL 8,000 8,000 Current REM over 18,121 10,782 26Feb18/
Orig Amount: P8.0M properties 27Feb18/
Maturity: 06.30.18 23Feb18

MTL 1 JSS of Sps.

Orig Amount: Genefer & Dinia
P15.0M 8,944 8,944 Current Aves
Maturity: 06.30.21

MTL 2 - - Unavailed
Orig Amount: P5.0M
Approved date:
06.20.17

CBC – None
Total 16,944 16,944 Total 18,121 10,782
LOAN TO VALUE (LTV)= (Total Loan Exposure / AV; LV) 94% 157%
COLLATERAL TO TOTAL EXPOSURE 107% 64%
Collateral to Loan Ratio – net of CFD and DBPL 107% 64%
Secured Portion –REM only and net of CFD, DBPL, and BTB 107% 64%

Expiry / Maturity: RPNL – 06.30.18 LTL – 06.30.21 CIR Date: 07.30.2018

1
Account Name: WYNNPOOL INDUSTRIAL GASES INC. CREDIT MEMORANDUM NO.:
REMARKS/JUSTIFICATION:
 We are requesting for 2nd PN extension for thirty (30) days for PN No. 803400050003997 to allot time for line renewal
documentation and document signing of credit proposal for straight line renewal of RPNL for 90 days which is also being
routed for approval.
 Though account has been processed by CED, revisions on the projections has to be made to support AO’s recommendation
to grant a new 5-year MTL for acquisition of gas cylinder tanks. To justify our proposal, we requested client to provide us
2018 interim financial statements and new projection assumptions to check liquidity.
 AO will do the re-projection as soon as the 2018 interim FS as of September is received by 2 nd week of November. Target
date of presentation to Crecom is on or before December 11, 2018.
 Wynnpool Industrial Gases Inc. was established in 2008, engaged in manufacture and cylinder refilling of industrial and
medical gases. The company is take-off from initial efforts of spouses Genefer and Dinia Aves, who started as
dealer/distributor of industrial and medical gases. The couple entered the industry in 1996 by opening Clasique Gas
Marketing in Sta. Rosa Pilar, Bataan and eventually in 2010, Wynnpool was established in Gapan, Nueva Ecija. In 2017, the
company transferred its operations in Hermosa, Bataan.
 Refilling plant is located at Brgy. Mambog Hermosa, Bataan. The company employs around 40 workers and 5 office staff,
while distribution is being supported by a fleet of nine (9) Isuzu Elf trucks and one (1) Isuzu Forward.

 Financial Highlights per submitted AFS for Year End 2017:

WYNNPOOL INDUSTRIAL GASES INC.

Audited Financial Statement
Antonio L. Ong (BIR Acc. No. AN-05-005967-001-2014)
DATE / YEAR 2016 2017
SALES 37,301,760.62 56,683,493.95
NET INCOME 1,297,171.18 1,918,602.59
CURRENT ASSETS 7,195,715.91 13,070,083.63
TOTAL ASSETS 31,103,270.52 36,489,317.22
CURRENT LIABILITIES 3,035,126.48 2,512,125.90
TOTAL LIABILITIES 22,833,540.75 26,876,565.64
EQUITY/NET WORTH 8,269,729.77 9,612,751.58

 Based on submitted 2017 Audited Financial Statements (AFS), a growth was reported in the company’s Total Revenues
which increased from P 37.3M in 2016 to P 56.68M in 2018. The business also registered increase in net income of P 1.92M
compared last year. Current assets stood at P13.0M, consisting of cash, receivables, inventories and others.
 CASA ADB of P2.720M of account is 16% of outstanding availment.
 No adverse findings per CIR dtd.07.30.18, with good payment history and no incidence of past due and delayed payments.

RECOMMENDING APPROVAL APPROVED BY

-EL-
AA NDVILLALON VV ADRIANO JR. AVP HG SAN ANDRES VP VIRGILIO I. LIBUNAO JR. SVP MARIA TERESITA R. DEAN
Account Officer Department Head Division Head SLG Head

ACTION TAKEN APPROVED ENDORSED DEFERRED DISAPROVED

SPECIAL INSTRUCTIONS: