ALBAR GROUP OF COMPANIES

ALBAR GROUP HISTORY

In 1974, Akira S. Kato started a small business endeavor. He founded ALBAR TRADING CORPORATION (ATC). Its primary business activity was trading. In order to expand its reach and achieve more revenue, the stockholders decided that it enter other businesses besides trading that will be beneficial or advantageous to it. Hence, on July 30 of the same year, the Philippines' Securities and Exchange Commission (SEC) approved the decision of the Board of Directors adding to ATC's line of business Ship Management and Marine Trading.

Seven Japanese Principals (Ship Owners) became the first clients, and 13 vessels were entrusted to ATC for crewing and ship management. General trading and agribusiness were added to ATC's line of business.

To meet the growing demands of agribusiness, both in the domestic and foreign market, 1976 saw the establishment of
SUBAR REALTY AND DEVELOPMENT CORPORATION.

In 1980, ship-husbanding activities broadened with the addition of gas carriers and tankers to ATC's fleet. Unigas Rotterdam, through Unimundo Far East Pte., Singapore, appointed ATC to be its Philippine Agent, and further activities in liquid gas and chemical handling were added.

On July 25, 1983, the Philippine Overseas Employment Administration (POEA) approved the application of ATC to be a manning agent for overseas seamen.

On August 30, 1983, ATC amended its primary purpose of its articles and changed its name to
ALBAR SHIPPING AND TRADING CORPORATION (ASTC). This was because the company was experiencing rapid expansion in its networking and business activities.

In 1995,
ESCOBAR SHIPPING CORPORATION and JUBAR SHIPPING CORPORATION were established to further the efficiency of the growing business.

In 1987,
SUN SHIPPING CORPORATION was established in order to handle the additional influx of Philippines Registered Vessels (PRVs).

In 1980, NETWORK SHIPPING CORPORATION, PHILIPPINES, was established as a response to a joint-venture invitation by Network Shipping Corporation, Singapore. Its capital structure comprised shares of stock handled by 60% Filipino and 40% Singaporean. This company was established with the intention of absorbing ship-husbanding activities of the Singaporean firm. NETWORK SHIPPING became the Singaporean firm's extension in the Philippines. Three years after its establishment, NETWORK SHIPPING had already handled 162 ships in 198 port calls.

The most recent company was formed on May 21, 1998.
ASKOT SHIP AGENT, INC's primary business activity was to engage in the activities of shipping and cargo handling including acting as ship agents, shipbrokers, ship charterers, and husbanding agents for both the local and foreign shipping companies. Likewise, it was tasked to conduct the business of lighterage, stevedoring, and waterhousing. It now also acts as consultants to the operation of vessels and handling of cargo.

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