This report covers the data and analysis gathered for the month of November 2017 and carefully analyze to provide the company status report for the whole Ashok group of companies, the developments and expansion made, objectives and management commitment to all its clients.

It further aims to provide the wholistic overview of the company’s performance including the financial aspect which may be of interest to our potential clients.

As of November 30, 2017, ASHOK GROUP have 6 subsidiary companies as follows:

ASHOK GROUP activities are mainly focus on providing the following:


  • Technology solutions;
  • Web-design and maintenance;
  • Clients support;
  • Back office support;
  • Other business process outsourcing;
  • Rental of office facilities;
  • Arrangement of venue for training, seminar, and other events organized by clients;
  • Event organizing;
  • Conduct of training and seminars for financial literacy and management;
  • Foreign exchange;
  • Money changer;
  • Pawnshop


  • Distribution of food, cosmetics, beverages and other products either offline or online;



Ashoktech is engaged in providing technology solutions, clients support, design of websites, maintenance and back-up of websites, creation of motion and non-motion graphic pictures, provides business marketing and advertising assistance and solutions to clients, offer rental of office facilities and arrangement of venue for events conducted by clients, and performs other business process outsource activities which the clients require.

The company commenced its business operation on October 2016 and it can be said that the same is performing well, after further expansion and developments undertaken by the company for a short period of time.

The company immediately acquires ISO 9001:2015 accreditation with SGS to certify the Quality Management System (QMS) of the company.

On October 2016, the company started to provide its Technology and back office support services to its first client-ASHOK CAPITAL located in Vanuatu and as of November 30, 2017, the ASHOKTECH caters its services to additional 2 clients such as FINWAZE and ETHOS. See the following graph as to the number of clients:

ASHOKTECH clients as of November 2017 are as follows:

The following table provides the list of on-going projects attended by the company as of November 30, 2017:

Ashoktech becomes certified ISO 9001: 2015 on March 2017 by SGS Philippines. The management strives to continuously provide an excellent quality of services to all its clients to meet customer requirements and ensure clients satisfaction. ASHOKTECH ensures compliance of the International Standard requirements, statutory regulations and management
The company is presently occupying a 150 sqm office space located at Galleria Corporate Center, Ortigas Avenue, Quezon City.
The Management provides complete I.T. equipment and facilities to ensure its commitment and satisfy its customer requirements.

ASHOKTECH further expands its services by registering with the Securities and Exchange Commission additional business purpose, to engage in providing training and seminar on financial literacy for its clients, in partnership with Finwaze PTE. LTD.,Singapore.


Ashoktech also opens its extension office in Cebu. This area is also one of the fastest developing cities in the country and a business hub for many entrepreneurs.

The company officially launched its business in Cebu on August 2017.

The company is operating mainly to provide its business process outsource, training facilities and arrangement of venue and other support services for clients of ASHOKTECH.



ETHOS was registered with the Securities and Exchange Commission on July 2017 and officially commenced its business on September 2017.

The company is engaged in distribution of food, cosmetics and beverages products all over the Philippines. Its products are marketed through its website online and through offline distribution.

The company is committed to create millionaires. It introduces a distribution system which is uniquely analyzed to ensure its effectivity and quality control of the products distributed to the end consumers.

ETHOS created its brand called ‘ASHOK” which is derived from founder of ASHOK group of companies-MR. MATHEW ASHOK KUMAR.

ETHOS is committed to provide natural products and with health benefits to its consumers.


The company also started to open its first ethos store in Cebu which also introduces the distribution system of the company in the said place.

ETHOS Cebu caters its product distribution to all interested and qualified Cebuanos. Cebu has a first class highly urbanized city located in Central Visayas region, comprising Cebu Island and more than 150 smaller surrounding islands and islets. Cebu has around 1 million of population and surrounded by big universities and colleges.


With the amount of PHP 5,000.00 one can become a distributor of the company.  This amount does not simply represent the membership fee. ETHOS shall provide its selected products worth 4,500.00 at its retail price and the remaining 500.00 shall be utilized for ID card of the member and ETHOS bag with the product brochures.

From being a Distributor member, one may have the possibilities of becoming an owner of his/her own Ethos store, upon qualifying the million-dollar club of the company, by reaching a sale of Php 5,000,000.00 or Billion Dollar Club by reaching the sale of Php 25,000,000.00 which shall entitle a member to establish another Ethos Store with the start-up cost charge to the company.


As of November 30, 2017, ETHOS was able to qualify 16 Distributors who may also introduce additional distributors for the company.


  • Coffee
  • Juices
  • Facial toner
  • Facial moisturizer
  • Lipstick
  • Lotion
  • Perfume
  • Soap
  • Sunblock
  • Whitening cream
  • Shampoo

ETHOS WEBSITE [] was launched on October 2017 and it is effectively working for online buyers.  It also allows interested individual to become a distributor, by simply clicking distributor’s portal and proceed to fill out the information requested.


Ethos Singapore was officially registered under the laws of Singapore on September 2017.  It is the counterpart of ETHOS Philippines which also provides products distribution in the said country.

As planned, ETHOS products supplied by Philippine Manufacturer shall be imported to ETHOS Singapore which shall be marketed thereto, online and via Ethos Store, to be set-up in different cities in Singapore after feasibilities studies is carried out.

ETHOS Singapore is not yet operating but the same is duly registered to be compliant with statutory rule and regulations of Singapore.



Shepherd registration with the Securities and Exchange Commission is still on process as of November 30, 2017.

The management intention is to officially launch the opening of the company beginning of 2018.

The company shall engage in the business of:

  • Foreign exchange or money changer
  • Remittance center
  • pawnshop

Shepherd first office center is planned to be placed in Ortigas, Quezon City.

It will mainly focus on assisting Overseas Filipino Workers in foreign exchange and in sending money remittances to their love ones in Philippines.

It is the mission of the company to provide fast but reliable, credible and honest services to all customers who trust to utilize the money changer and foreign exchange facilities of the company and ensure transparency of its work to satisfy customer’s expectations.

The company values its customers and it is committed to ensure that their trust is well protected.

Shepherd guarantees the honesty and efficiency of our company representatives and take great care, vigilance and diligence of the money remittances of our customer and ensure that the same is process timely and receive faster by the intended and proper recipient and ensure proper forex transactions in line with the applicable laws, rules and regulations.


The company is registered under the laws of Vanuatu and it is a licensed broker/dealer for foreign exchange trading.

The company is conducting its business all over ASIA.

ASHOK CAPITAL is operating its business through its partner, SHANGXI YA-China.  It introduces foreign exchange trading in China and other parts of ASIA.

The following graph shows the frequency of trading transactions of the company from January to November 30, 2017.

The graph shows highly considerable number of depositing transactions from interested clients.  This simply indicates that foreign exchange trading is becoming more of interest to investors.

The graph below shows that during the month of March 2017 a considerable number of transactions were recorded in terms of amount in USD.  Although if compared to the above graph the most the number of transactions occurred during of May and September 2017.

The company ensures legal compliance of the statutory requirements imposed by the Government of Vanuatu.

ASHOK CAPITAL assures its clients of the management commitment to continuously provide quality of service, reliability and trustworthiness of its business dealings, without defrauding any single clients, by complying not only the requirements of the applicable laws as well as the fulfillment of its commitment to clients and the satisfaction of their expectations.

The company ensures transparency, timely and accuracy of its business transactions towards clients’ requirements.  With the company’s highly reliable platform, the clients are able to manage their own accounts and monitor the same.

ASHOK CAPITAL also ensures customer care and provides 24 hours customer service personnel who shall attend for the concerns or need of its clients.  With this, the company outsourced the services of service providing company to assure timely and accurate response to client’s concerns.


The company is duly registered under the laws of Singapore and was incorporated on September 2017.

FINWAZE is engaged in providing training, seminar and event organizing services.  Finwaze is committed to deliver quality of training courses on Financial Literacy.

Finwaze course is composed of elementary, intermediate and advance level of teaching financial management system. It aims to provide financial literacy to all interested clients, and enhance their skills in managing financial resources effectively and use their knowledge in making appropriate decisions about their personal finances such as investing, budgeting, payment, education, property investment and retirement.

The company in partnership with ASHOKTECH introduces financial literacy courses in Philippines which offers the same standards of training and seminars to interested clients.

As of November 30, 2017, there are around 70 trainees who completed the financial literacy courses from elementary to advance courses.

Elementary to advance level are usually conducted for 1 week.

The following graph shows the number of trainees enrolled for every schedule of training set by the company.



The company is duly registered in China and operated its business since 2016. It is engaged in providing services to clients such ASHOK CAPITAL Vanuatu, as introducing broker, provide service facilities and as back office support for Chinese clients.

The graph below shows that the most number of deposit transactions happened during the month of June 2017 for the withdrawal transactions occurred during the month of September 2017. However, during the month of March 2017, the amount of withdrawal was higher.


AGRP stand for ASHOK Group of companies.
AGRP is the parent/holding company of Ashok group of companies. It was registered under the laws of Singapore on July 2017.
AGRP aims to provide fullest financial support to all its subsidiary companies.
AGRP is holding major percentage of shares in all its subsidiary companies. The business is mainly to supervise and provide administration assistance to the subsidiaries.
The company also planned to increase its property assets and invest to stocks, real estate and other viable businesses.
Nevertheless, the company is opened to accept additional stockholders or investors who may be interested to enter into holding business, subject to company requirements, qualification and approval of the Board of Directors.


AGRP’s investment strategy is founded on core investment principles such as:

  • Investment in high performance and leading innovative industries – we believe in the benefits brought about by the innovations and technology advancement which our current and future generations are now benefiting.
  • Long-term investment approach – we strive for long-term investments and seek businesses with strong management teams that are capable of delivering sustained growth and continuously strong returns. We continue to support management teams while seeking to be active investors. These active investment positions are large enough to give AHL a voice in the strategic management of our portfolio companies.
  • Extract value from underperforming assets – AHL are experienced in acquiring and extracting additional value from underperforming and undervalued assets. We seek opportunities with the potential to unlock value based on the experience and management expertise of our management team.
  • Focus on core growth and value-added industry sectors – our reputation has been achieved through a focus on growth sectors where value can be added. Predominantly these sectors are foreign exchange trading, technology solutions, dealer in securities, training and business consultancies sectors.
  • Network of contacts – AHL has developed extensive contacts among business leaders globally. These contacts allow us to gain access to positive investment opportunities and create synergies among separate assets.

As a major company with global interests, AGRP is committed in operating to the very highest ethical and moral standards. This common goal is extended to our company’s ever-growing portfolio of investments.


ASHOK GROUP OF COMPANIES is committed to provide and deliver excellent quality of services and products to all its clients. The management ensures compliance of the International Standards for Quality Management System, statutory rules and regulations and it is committed to full compliance of customer requirements and meeting their expectations.


The Management sets the following objectives targeted on its maximum level and compliance and achieve satisfaction of the same:
1. Expansion of offices for each company;
2. To double and Increase the number of clients/customers for each company up to 50 %;
3. Expansion of services to clients;
4. Increase acquired assets and properties for each company;
5. Double the income for each company;
6. Set a maximum leverage and standard of Supervision to be implemented by AGRP Holdings over all its subsidiaries;
7. Increase the number of manpower necessary to sustain the operation of each company;
8. Introduce innovation in terms of system implementation within the organization of each subsidiary companies;
9. Increase the level of marketing for each company;
10. Introduce extension office and branches for each company to be established in prominent cities in the country where the main offices are conducting its business.
11. To obtain certification for all companies to be compliant with the ISO 9001:2015 (Quality Management System).


ESTIMATED INCOME VS. ESTIMATED EXPENSES PER COMPANY PER MONTH AGRP gathers the data on monthly income and expenses of each company and the same were carefully analyzes to come out with the accurate financial reports. Below graph indicates the financial reports for each company as of November 30, 2017:

ASHOKFX – Ashok Capital Ltd

The following graph shows the financial performance of the company in terms of income andm expenses. It indicates that for the month of March, a considerable income and expenses were recorded this is because, at that time the company is operating together with its partner Ashok Trading Academy (ATA) and the expenses were higher because of the new platforms leased by the company to facilitate its business operation for foreign exchange trading in ASIA.


The following graph indicates the financial performance of FINWAZE Singapore as of October 2017. The amount presented is in Philippine Peso. The company’s first training was conducted in Philippine through ASHOKTECH INC.,


Below graph shows the financial performance of ASHOKTECH as of October 2017. It can be noted that as of June 2017, the company’s income and expenses increased compared to previous and subsequent months. This is mainly because, the company launches its first Certified Trainors Training which also resulted to increase of operating expenses to facilitate the
launching of said training course.

The subsequent month however, after June 2017, indicates a steady performance both for expenses and income of the company. The reason behind company’s higher expenses, it’s because of the expansion we have made with regards to office space, facilities, renovations,
increase of manpower and other services expansions we made to meet our client’s requirements.

Ethos Food and Beverages Distribution Inc

Below graph shows the performance of the company in terms of financial matters. The company was registered on July 2017. The expenses for the month indicates the start-up or preoperating cost utilized for incorporation and statutory compliance. As of August 2017, the company started to operate the business and incurred the expenses as shown below, until October 2017.
It can be noted that the income gradually increases from month of August to October, this is because it is based on the number of distributor qualified by the company monthly. Although, the income is a considerably lower, but this is because the company just started to operate and introduce the distribution system.
ETHOS ensures to invest in the marketing of the company, through website development and employment of graphic and video designer, IT programmer and marketing personnel. This is one of the reason why the costing during the first 4 months of operation is higher.
Note: the amount presented are in Philippine Peso currency.



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