A financing Company Owned by the Electric Cooperatives
REFC’s 17th Annual Stockholders Meeting graced by NEA Administrator
The Rural Electrification Financing Corporation (REFC) held its 17th Annual Stockholders Meeting (ASM) last August 7, 2017 at the Chardonnay by Astoria in Pasig City. NEA Administrator Edgardo R. Masongsong graced the occasion as the keynote speaker, wherein he challenged the REFC Board of Directors and its Electric Cooperative (EC) Stockholders to foster the operation and efficiency of the electric cooperatives so that they are able to best serve their member consumer-owners.
“I see it my duty to enjoin you to take a new look at your mission, which at a glance sounds more like the NEA inasmuch as we put more effort towards a desired end, that of improving the operations of the ECs, which manifest in an increased revenue, reliable service and efficient operations. In this aspect, the NEA sees you as a partner for progress and development as we may be able to bring the ECs to higher efficacy in the service to the ultimate beneficiary, the member consumer-owners of your Shareholder coops. I always believe in collective effort, after all it has been proven time and time again that there is strength in unity,”
The REFC Board of Directors, headed by its outgoing President Gabriel Tordesillas informed the NEA Administrator that his challenge is accepted. President Tordesillas gave his message by thanking everyone for their support while he was the REFC President for 8 consecutive years. Now the reins has been passed to the newly elected President, Engr. Iglorio Hinayon, the General Manager of Surigao del Sur II Electric Cooperative, Inc. (SURSECO II).
The new set of REFC Board of Directors aside from President Hinayon are GM Raul Saniel of ZAMSURECO I as Vice-President; Mr. Lorenzo L. Trinidad, Jr. of CAGELCO I as VP for Corporate Affairs; GM Loliano E. Allas of PELCO I as Corporate Secretary; and GM Ludovico D. Lim of ANTECO as Treasurer. Other Board Officers are: Mr. Reynaldo M. Lazo of INEC; Atty. Julius Cesar G. Peralta of PANELCO III; GM Jonas F. Discaya of NOCECO; and GM Juanito E. Jorda of LEYECO V as regular Directors. They are joined by independent Directors, Mr. Cesar G. Gironella and Atty. Francis V. Gustilo.
“Thank you gentlemen for your support as well as your trust and confidence in me. I hope that we will have a fruitful year to come,” – President Hinayon.