Monday, 16 June 2014

JPPHSC ups subscribed share capital to P15 million


THE Jose Panganiban Primary Hospital Service Cooperative (JPPHSC) has increased its subscribed share capital by P5 million to P15 million.

The increase from the current P10 million was approved in a board resolution passed during the co-op's 20TH annual general assembly held last March in Mambulao.

Re-elected board chairman Priscilla G Mariano told the assembly that the P5 million increase was appropriate since the co-op had already reached the targeted subscribed share capital.

At the end of December 31, 2013, subscribed share capital was at P7.3 million, up 54% from the previous year's only P4.7 million.

Over the past five years from 2009, the capital build up jumped 231.8%, or P5 million, to P7.3 million at the end of last year.

The co-op seeks to expand its services once its second floor section has been completed.

The co-op had as of March this year total of 627 co-owners, up from 593 posted at the end of 2012.

BOD said it will continue recruiting new members especially from those who availed of the hospital's medical and healthcare services.

Co-op's members are not only from Mambulao but also from neighboring towns of Paracale, Capalonga, Daet and from Polilio Island, in Quezon province.

The Polilio-based members found it convenient to sail to Mambulao than going to Lucena for medical services.

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