New Nemar Development, Corporation

New Nemar Development Corporation is a family owned business founded by Mr. Rufino M. Mojares in 1992. It has a capitalization of P4.8 M which is now fully subscribed. Its original purpose was to manufacture and market passenger and owner type jeepneys and at the same time it offered its own financing facility to interested customers. This went on for a couple of years as the jeepney market seemed so huge. This didn’t go long enough and when orders for a new jeepney unit started to dwindle, Mr. Mojares went into trading of used cars. At the same time he also undertook the reconditioning of light trucks and even ten wheeler dump trucks. These activities were all somehow connected to the transportation business. But things didn’t seem to workout as well as expected. From talks with local businessman and friends from the financing companies and from his own experience, Mr. Mojares realized that the jeepney business was on its way down. The trucking was too prone to pilferage, and abuse and the used cars business did not present a Return on Investment commensurate to the resource it used. That is when Mr. Mojares decided to phase out jeepney manufacturing, trucking, used cars and related activities and venture into the motorcycle business. In 1996, New Nemar Development Corp. started selling multi brand motorcycles opening branches in Lipa and Nasugbu. Then other branches were opened in Mindoro, Laguna, Gumaca and Cavite. In April of 1997, New Nemar inaugurated its 1st Suzuki 3S Shop in Nasugbu. Then the 1997 currency crisis struck and money become tight. New Nemar went through some hard times just as it was starting to feel confident about the motorcycle business. Prudent management and proper control of receivables allowed New Nemar to survive the crisis and the business just kept growing and is still growing.