The Partnership

Manolito (Noli) Manalo

is a Senior Managing Partner in the Finance, Tax and Accounting practices of Manalo De Lumen and Co. (MDCo) and is based in Manila. Mr. Manalo’s professional experience covers a broad range of global and domestic institutions, small and medium enterprises and multi-national companies in the public and private arena.


Mr. Manalo has advised senior management, foreign and local, in healthy and challenging situations in connection with acquisitions, corporate rehabilitation, recapitalizations, internal control compliance, process improvements, fraud detections, and strategic business issues. As a unique advantage, he was always part of the management’s implementing team and made sure that those recommendations were acted upon, fitted, aligned and resulted to targeted goals and outcome.

Mr. Manalo’s experience covers all aspects of financial controllership, treasury, accounting and tax management including set-up, start-up and reorganization of companies, composition of departmental organization, formulation of policies and procedures, accounting software selection, implementation and project management, internal audit, company liquidation, tax efficient structuring, tax assessments management and cash flow maximization.

He handled various due diligence for business acquisitions and project development, debt refinancing, Sarbanes-Oxley (SOX) reports implementation, internal control system, process and fraud audits, corporate rehabilitation and bankruptcy, company liquidation, tax planning and managing high profile tax cases with Bureau of Internal Revenue and Court of Tax Appeal.

Prior to founding MDCo, Mr. Manalo was Managing Director and Chief Finance Officer of FTI Consulting, Inc. in the Philippines. He also spent several years with Sycip Gorres Velayo and Co. (SGV and Co.), Ernst and Young (EY), and with Covanta Energy Corporation, and Manulife Business Processing Services as Chief Finance Officer.

Mr. Manalo holds a Chartered Business Administrator title from Chartered Association of Business Administrators or CABA, a premiere professional body of management professionals in Canada. He graduated from the University of Santo Tomas with a Bachelor of Science degree in Commerce major in Accountancy, Cum Laude in 1992. He is a Philippine Certified Public Accountant.

Affiliated Companies

FTI Consulting, Inc. is a global business advisory firm, SGV and Co. is currently the Philippines’ largest multidisciplinary professional services firm, Covanta Energy owned and operated multi-billion Peso energy utility companies like Edison Bataan Cogeneration, Magellan Cogeneration, Quezon Power and Island Power that supply power to Bataan and Cavite Economic zones, Meralco and electric cooperative, while Manulife Financial is a leading Canada-based financial services group with principal operations in Asia, Canada and the United States through the brand name “John Hancock“.


Chartered Business Administrator

Certified Public Accountant


Bachelor of Science in Commerce major in Accountancy, University of Santo Tomas, Cum Laude


Member, Philippine Institute of Certified Public Accountants (PICPA)

Member, PICPA Committee on Information Technology and Review System

Atty. Leonides Teofilo (Jun) De Lumen II

is a Senior Partner in the Legal, Tax and Audit practices of MDCo and is based in Manila and Legaspi City.


Atty. De Lumen II has extensive experience as a tax and corporate lawyer having been a former AVP –ROHQ Finance and Administrative Officer and Assistant Tax Counsel of Citigroup- Philippines.

He was also formerly connected with Malayan Insurance Company Inc., where he was an in house counsel, Punongbayan and Araullo and Sycip Gorres Velayo, the last two (2) being top accounting firms in the Philippines.

Atty. De Lumen II renders tax opinion and advice on various topics like new and existing product programs to determine compliance with Philippine laws and International Tax Treaties for cross-border transactions and identified tax implications thereof, and when necessary under the circumstances, recommended alternative schemes which were be adopted by the clients to avoid or minimize the tax effect.

Atty. De Lumen II represents various clients with regard to tax investigation and deficiency tax assessment issued by the Bureau of Internal Revenue (BIR). He also assists clients in effecting an increase in capital stock and undertook the registration of various clients with the Securities and Exchange Commission, Philippine Export Zone Authority (PEZA), Local Government Units, and Board of Investments (BOI). He also assists qualified expatriates to secure a Special Visa under E.O. 226.

He reviews contract provisions to determine compliance with Philippine laws and International Tax Treaties and prepares a comprehensive report which includes, among others, a determination of the tax implication and alternative schemes which may be adopted by a company to avoid or minimize the tax effect.

He also undertakes the dissolution of a clients’ business with the Securities and Exchange Commission (SEC), BIR, Social Security System (SSS), and the Local Government Unit concerned. Atty. De Lumen II also conducts extensive study of clients’ businesses and industry, government regulations affecting the interest of the clients, and identification of special audit procedures in verifying the fairness of the client’s financial statements.

He also performs preliminary evaluation of the clients’ internal accounting structure in order to identify weaknesses and other areas for improvement and management considerations and at the same time conducted financial audit for the purpose of expressing an opinion on whether the clients’ financial statements present fairly the financial position and operating results in the light of generally accepted accounting principles.

Atty. De Lumen II also performs audit processes using the most up-to-date professional techniques and procedures and provides technical accounting advice and assistance. He also takes part in the preparation of the auditor’s report, client’s audited financial statements, income tax returns and the related schedules required by the Securities and Exchange Commission, where applicable.

Atty. De Lumen II was also an in-house counsel handling insurance claims while he was with Malayan Insurance. He is formerly an Associate Professor of University of Sto. Tomas, Faculty of Arts and Sciences where he taught Business Law to Accountancy and Economics students.

Atty. De Lumen II graduated from the San Beda College of Law in 2000 and from the San Beda College of Accountancy in 1995 and was the recipient of Murillo, Dalupan and Diaz Accounting Award for Academic Excellence. He was admitted to the Philippine Bar in 2001 and a member of the Integrated Bar of the Philippines, Albay Chapter and the Philippine Institute of Certified Public Accountants (PICPA) having passed the CPA Board Examination given by the Professional Regulations Commission in October 1995



Certified Public Accountant


Bachelor of Laws, San Beda College

Bachelor of Science in Accountancy, San Beda College


Member, Integrated Bar of the Philippines (IBP)

Member, Philippine Institute of Certified Public Accountants (PICPA)

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