Project Brief on Cold Storage

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Project Brief Project Proponent Project Address Project Cost

: : : :

A 4,500 MT Cold Storage Facility
CIDI-VFII, Ltd. Fishport, Tambler, GSC PHP 40,000,000

I - Introduction CIDI-VFII, Ltd. is the firm‟s proposed name. It is a joint venture between Ramses Y. Verano of the Veres Fishing Industries, Inc., awardee of a 5,000 sq.m. prime lot, situated at the Fishport, Tambler, General Santos City, and Crystal Ice Depot, Inc. of Cubao, Quezon City, M.M., which markets a Canadian-developed ice-making equipment under SUNWELL brand.

With the state-of-the-art ice-making technology of Crystal Ice Depot, Inc. (CIDI), coupled with a quarter of century marketing experience of Ramses Verano in the industry, the new business duo shall certainly become a company to watch in Gensan‟s fast moving agri-based economy.

Having been fully convinced of the viability, profitability and timely entrance of the proposed project, CIDI-VFII. Ltd. is now on its final implementation stage.

The project is scheduled to begin on the 2nd week of June , 1999 (see: Annex A ).

Feasibility Study on Deepchill Ice Plant at the Fishport, Tambler, General Santos City - by Frank Ll. Dalapo, MBA

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II - Projected Financial Statements covering the term of the loan

Collaterals for the proposed loan shall include the following:

Table 2.1 Collaterals
Fixed Assets to be acquired Land Improvements Buildings Miscellaneous Equipments Additional collateral Land (7.6 has. coco plantation) Total Cost 753,307 800,000 500,000 Loan Value 40% 40% 40% Sub-total 301,323 320,000 200,000

7,060,000

50 %

3,530,000

9,113,307

821,323

Total loanable amount (Rounded off to)

PHP 4,000,000 ===========

Based on the projected income statement, the proposed project has an average net income of PHP 17,587,000 in a 5-year period operation vis-a-vis a total investment of PHP 15,000,000.

Feasibility Study on Deepchill Ice Plant at the Fishport, Tambler, General Santos City - by Frank Ll. Dalapo, MBA

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Table 2.2 Total Project Cost
Equipments Refrigeration Equipment Genset Delivery Truck Sub-total Buildings Land Improvement Cooling tanks General Pre-operating Expenses Plant Pre-operating expenses Miscellaneous TOTAL PROJECT COST Exhibit

PHP 11,250,000 100,000 400,000 PHP 11,750,000
Exhibit - C Exhibit -E Exhibit - G Exhibit-A Exhibit -B Exhibit -F

800,000 753,307 100,000 336,020 101,785 1,158,888 PHP 15,000,000 ============

Table 2.3 Sources of Fund CIDI capital VFII Capital (Loan from the Bank) Total

PHP 11,250,000 3,750,000 PHP 15,000,000

75 % 25 % 100 %

Feasibility Study on Deepchill Ice Plant at the Fishport, Tambler, General Santos City - by Frank Ll. Dalapo, MBA

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Table 2.4 Loan Amortization Amount of Loan Rate Term Mode Interest Number Factor Amortization Number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 TOTAL Amortization 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 230,628.42 4,612,568.40 ========== Interest 135,000.00 130,696.72 126,199.79 121,500.51 116,589.75 111,458.01 106,095.34 100,491.35 94,635.19 88,515.49 82,120.41 75,453.74 68,470.89 61,173.79 53,548.34 45,579.74 37,252.54 28,550.63 19,457.13 9,954.42 1,612,743.78 ========== 3,000,000 18% 5 years Quarterly 4.5 % 20 .07687614 230,628.42 Principal 95,628.42 99,931.70 104,428.62 109,127.91 114,038.67 119,170.41 124,533.08 130,137.07 135,993.23 142,112.93 148,148.01 155,174.67 162,157.53 169,454.62 177,080.08 185,048.68 193,375.87 202,077.79 211,171.28 220,673.99 2,999,825.56 ========== o / s Balance 2,904,371.58 2,804,439.88 2,700,011.26 2,590,883.35 2,476,844.68 2,357,674.27 2,233,141.19 2,103,004.12 1,967,010.89 1,824,897.96 1,676,749.95 1,521,575.28 1,359,417.75 1,189,963.13 1,012,883.05 827,834.37 634,458.50 432,380.71 221,209.43 535.44

Feasibility Study on Deepchill...
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