Builder Details
Brief History
MRC Allied, Inc. (MRC) is the first publicly listed property development firm in the Philippines which has found its niche in development of master planned, integrated residential, commercial, recreational, tourism and industrial areas within a single community or township.
Incorporated on November 20, 1990 and formerly known as Makilala Rubber Corporation, the activities of MRC had been primarily on processing and export of baled natural rubber. In 1993, MRC diversified into a real property development firm, more particularly, into township development. And on October 25, 1994, the Securities & Exchange Commission (SEC) approved the change of name of Makilala Rubber Corporation to MRC Allied Industries, Inc.
In 1995, MRC listed its entire 500 million shares in the Philippine Stock Exchange (PSE) with an initial public offering share price of three pesos (P3.00) per share. In 1997, MRC decided to divest its rubber business to Makrubber Corporation, its wholly owned subsidiary, to focus on its core business – real property development. Makrubber stopped its operations in 2000 because of the worsening raw material supply due to the Land Reform Program and the peace and order problems in North Cotabato.
Since 2000, MRC has had minimal operations and simply continued and maintained its two eco-friendly projects: the New Cebu Township One (NCTO) of Naga, Cebu; and Amihan Woodlands Township (AWT) of Northern Leyte.
In 2010, MRC diversified its business into the mining exploration industry acquiring various mining assets located in the provinces of Davao del Sur, Sultan Kudarat, Surigao del Sur, and Davao Oriental.
In 2015, MRC disclosed its plan to venture into the renewable energy sector and created a subsidiary that will carry out its clean energy projects. The subsidiary is called Menlo Renewable Energy Corporation and is set to implement its very first renewable energy project – the 60MW Solar Project in Naga City, Cebu.
