DOCSLIB.ORG

2011 Financial Statements

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2011 Financial Statements METRO PACIFIC TOLLWAYS CORPORATION April 16, 2012 PHILIPPINE STOCK EXCHANGE Disclosure Department 3/F PSE Plaza Ayala Triangle, Ayala Avenue Makati City Attention: MS. JANET A. ENCARNACION Head Disclosure Department Re: SEC Form 17-C METRO PACIFIC TOLLWAYS CORPORATION (“MPTC”) (PSE: TOL) Attached is the Company’s annual report for the year ended December 31, 2011. There is no other information known to management that needs to be disclosed as of the coverage date of this report. If any required information is not disclosed, it is not applicable to the Company. We hope you find everything in order. Thank you. Respectfully yours, Christopher Daniel C. Lizo Chief Finance Officer and Treasurer 4 0 5 9 0 SEC Registration Number M E T R O P A C I F I C T O L L W A Y S C O R P O R A T I O N ( F o r m e r l y F i r s t P h i l i p p i n e I n f r a s t r u c t u r e , I n c . ) A N D S U B S I D I A R I E S (Company’s Full Name) 1 0 t h F l o o r , M G O B u i l d i n g , L e g a s p i c o r . D e l a R o s a S t s . , M a k a t i C i t y (Business Address: No. Street City/Town/Province) Mr. Christopher Daniel C. Lizo (632) 888-0888 (Contract Person) (Company Telephone Numbers) 1 2 3 1 A A C F S 0 8 1 0 Month Day (Form Type) Month Day (Calendar Year) (Annual Meeting) – (Secondary License Type, If Applicable) – VI Dept. Requiring this Doc. Amended Articles Number/Section Total Amount of Borrowings 253 P9,205.2 million NIL Total No. of Stockholders Domestic Foreign To be accomplished by SEC Personnel concerned0 File Number LCU Document ID Cashier S T A M P S Remarks: Please use BLACK ink for scanning purposes. SEC Number 40590 File Number ________________________________________________ METRO PACIFIC TOLLWAYS CORPORATION ________________________________________________ (Company’s Full Name) 10th Floor, MGO Building Legazpi cor. Dela Rosa Streets, Makati City 1600 _________________________________________________ (Company’s Address) (632) 888-0888 ______________________________________ (Telephone Number) December 31, 2011 ______________________________________ (Fiscal Year Ending) (month & day) SEC Form 17-A (Annual Report) ______________________________________ Form Type Not Applicable ______________________________________ Amendment Designation (if applicable) Not Applicable ______________________________________ Period Ended Date Not Applicable __________________________________________________ (Secondary License Type and File Number) SECURITIES AND EXCHANGE COMMISSION SEC FORM 17-A ANNUAL REPORT PURSUANT TO SECTION 17 OF THE SECURITIES REGULATION CODE AND SECTION 141 OF CORPORATION CODE OF THE PHILIPPINES 1. For the calendar year ended December 31, 2011 2. SEC Identification Number 40590 3. BIR Tax Identification No. 000-217-282 4. Exact name of registrant as specified in its charter METRO PACIFIC TOLLWAYS CORPORATION 5, Metro Manila, Philippines 1600 Province, Country or other jurisdiction Postal Code of incorporation or organization 7. 10/F MGO Bldg. Legaspi cor. Dela Rosa Sts. Makati City, Philippines Address, including postal code, telephone number, FAX number including area code, of registrant’s principal offices 8. (632)888-0888 Registrant’s telephone numbers, including area code 9. N/A Former name, former address, and former fiscal year, if changed since last report. 10. Securities registered pursuant to Sections 4 and 8 of the Revised Securities Act Number of Shares of Common Stock Title of Each Class Outstanding & Amount of Debt Outstanding Number of Shares Issued and Subscribed 4,978,054,788 Amount of Debt Outstanding None 11. Are any or all of these securities listed on the Philippine Stock Exchange? Yes [ x ] No [ ] 12. Check whether the registrant: a) has filed all reports to be filed by Section 17 of the SRC and SRC Rule 17 thereunder or Section 11 of the RSA and RSA Rule 11 (1)-1 thereunder and Sections 26 and 141 of the Corporation Code of the Philippines during the preceding 12 months (or for such shorter period that the registrant was required to file such reports); Yes [ x ] No [ ] b) has been subject to such filing requirements for the past 90 days. Yes [ x ] No [ ] 1 13. Aggregate market value of the voting stock held by non-affiliates: Php59,873,208 (7,484,151 shares @ Php8.00 per share as at March 31, 2012) 2 TABLE OF CONTENTS Page No. PART I – BUSINESS AND GENERAL INFORMATION Item 1. Description of Business 4 Item 2. Description of Property 11 Item 3. Legal Proceedings 11 Item 4. Submission of Matters to a Vote of Security Holders 13 PART II – OPERATIONAL AND FINANCIAL INFORMATION Item 5. Market for the Company’s Common Shares and Related Stockholders Matters 14 Item 6. Management’s Discussion and Analysis or Plan of Operation 16 Item 7. Financial Statements 41 PART III – CONTROL AND COMPENSATION INFORMATION Item 8. Directors and Executive Officers 42 Item 9. Executive Compensation 46 Item 10. Security Ownership of Certain Beneficial Owners and Management 47 Item 11. Certain Relationships and Related Party Transactions 48 PART IV – CORPORATE GOVERNANCE Item 12. Corporate Governance 49 Item 13. Information on Independent Auditors and Other Related Matters 57 PART V – EXHIBITS AND SCHEDULES Item 14. Exhibits and Reports on SEC Form 17-C (Current Report) 59 SIGNATURES 61 INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTARY SCHEDULES 63 3 Part I -- BUSINESS AND GENERAL INFORMATION Item 1. DESCRIPTION OF BUSINESS Overview Metro Pacific Tollways Corporation (“MPTC” or “the Company”) is a publicly listed infrastructure company focusing on developing toll roads in the Philippines through public-private partnerships. With the North Luzon Expressway and the Subic-Clark-Tarlac Expressway in its toll road portfolio, MPTC is currently the biggest toll road developer in the country with more than 800 lane-kilometers of toll roads under its management. MPTC’s common shares are listed and traded on the Philippine Stock Exchange. The Company’s market capitalization is approximately Php39,828 million (US$928 million) as at March 31, 2012. For the year ended December 31, 2011, revenues totaled Php6,465 million and net income attributable to equity holders of Php1,257 million. MPTC’s subsidiary, Manila North Tollways Corporation (MNTC), operate under the jurisdiction of the Supplemental Toll Operations Agreement between MNTC, Philippine National Construction Corporation (“PNCC”) and the Republic of the Philippines through the Toll Regulatory Board (“TRB”), which jurisdiction extends, among other things, to approving major services that we offer and toll rates that MNTC charges. The Company’s principal executive offices are located at the MGO Building, Legazpi corner Dela Rosa Streets, Makati City, Philippines and our telephone number is +(632) 811-4809. Our website address is www.mptc.com.ph. The contents of our website are not a part of this annual report. Historical Background MPTC was incorporated on February 24, 1970 originally under the corporate name, City Resources (Phil.) Corporation (“CRC”), in the Philippines and registered with the Philippine Securities and Exchange Commission (“SEC”). On January 31, 1994, MPTC sold, transferred and conveyed the mining rights over all of its mineral properties located in the municipalities of Paracale and Labo, both in the Province of Camarines Norte. On March 24, 1994, the Securities and Exchange Commission approved a change in its primary purpose from mining company to that of a holding company. The primary purpose of MPTC is to acquire by purchase, exchange, assignment, gift or otherwise, and to hold, own and use for investment or otherwise operate, manage, enjoy and dispose of, any and all properties of every kind and description and whenever situated, as and to the extent permitted by law. In 1994, the Company had no operations and trading in its common shares was suspended. On November 17, 2004, SEC revoked the registration of securities and permit-to-sell securities to the public issued to CRC for its failure to comply with reporting obligations under the Securities Regulation Code and the Implementing Rules and Regulations. CRC filed a petition for review where it stated that it will revive its operations. On September 17, 2007, pursuant to a Deed of Assignment (“DOA”), First Philippine Holdings Corporation (“FPHC”) and Benpres Holdings Corporation (“BHC”), then shareholders of CRC, assigned and conveyed to CRC, by way of absolute ownership and free from all liens and encumbrance, their shares in First Philippine Infrastructure Development Corporation (“FPIDC”) in exchange for 4,970,570,627 newly issued shares of CRC. FPHC and BHC intend CRC to be a backdoor listing vehicle for their investments in the tollway business. After the exchange, FPHC became the ultimate parent company of CRC and that FPIDC became a wholly owned subsidiary of CRC. FPIDC owns 100% of Luzon Tollways Corporation (LTC), 67.1% of Manila North Tollways Corporation (“MNTC”) and 46% of Tollways Management Corporation (“TMC”). On December 26, 2007, the suspension of trading was lifted by the Philippine Stock Exchange (PSE) after compliance by CRC of the requirements of the PSE and SEC. On January 11, 2007, SEC set aside its order to revoke CRC's registration of securities and permit to sell securities to the public. 4 Prior to the execution of the DOA, the Board of Directors (“BOD”) and the then Stockholders of CRC approved and authorized the following amendments to the Articles of Incorporation: (a) change in the corporate name of the parent company from City Resources (Phil.) Corporation to First Philippine Infrastructure, Inc. (“FPII”): (b) decrease in the number of directors from eleven (11) to seven (7); and (c) increase in the authorized capital stock from Php335 million divided into 335,000,000 shares with a par value of Php1 per share to P5,400 million divided into 5,400,000,000 shares with the same par value.
Load more

Recommended publications
  • Assessment of Impediments to Urban-Rural Connectivity in Cdi Cities
    ASSESSMENT OF IMPEDIMENTS TO URBAN-RURAL CONNECTIVITY IN CDI CITIES Strengthening Urban Resilience for Growth with Equity (SURGE) Project CONTRACT NO. AID-492-H-15-00001 JANUARY 27, 2017 This report is made possible by the support of the American people through the United States Agency for International Development (USAID). The contents of this report are the sole responsibility of the International City/County Management Association (ICMA) and do not necessarily reflect the view of USAID or the United States Agency for International Development USAID Strengthening Urban Resilience for Growth with Equity (SURGE) Project Page i Pre-Feasibility Study for the Upgrading of the Tagbilaran City Slaughterhouse ASSESSMENT OF IMPEDIMENTS TO URBAN-RURAL CONNECTIVITY IN CDI CITIES Strengthening Urban Resilience for Growth with Equity (SURGE) Project CONTRACT NO. AID-492-H-15-00001 Program Title: USAID/SURGE Sponsoring USAID Office: USAID/Philippines Contract Number: AID-492-H-15-00001 Contractor: International City/County Management Association (ICMA) Date of Publication: January 27, 2017 USAID Strengthening Urban Resilience for Growth with Equity (SURGE) Project Page ii Assessment of Impediments to Urban-Rural Connectivity in CDI Cities Contents I. Executive Summary 1 II. Introduction 7 II. Methodology 9 A. Research Methods 9 B. Diagnostic Tool to Assess Urban-Rural Connectivity 9 III. City Assessments and Recommendations 14 A. Batangas City 14 B. Puerto Princesa City 26 C. Iloilo City 40 D. Tagbilaran City 50 E. Cagayan de Oro City 66 F. Zamboanga City 79 Tables Table 1. Schedule of Assessments Conducted in CDI Cities 9 Table 2. Cargo Throughput at the Batangas Seaport, in metric tons (2015 data) 15 Table 3.
    [Show full text]
  • 2016 Annual Report
    SULONG 2016 ANNUAL REPORT PHOENIX PETROLEUM PHILIPPINES, INC. INSIDE THIS REPORT 02 About Us 04 Financial Highlights 05 Industry Highlights 06 Philippine Highlights 08 Message to Shareholders 14 Q&A with the Chief Operating Officer 16 Operational Highlights 22 Subsidiaries 26 Corporate Social Responsibility 30 Board of Directors 34 Management Team 37 Corporate Governance 41 Statement of Management’s Responsibility for Financial Statements 42 Report of Independent Auditors 46 Consolidated Financial Statements 51 Management’s Discussion and Analysis of Financial Conditions 55 Our Products 56 Corporate Offices 2016 ANNUAL REPORT “Sulong” is a Filipino term that serves as a rallying cry: “Charge! Move! Onward!” That is also the team’s call to ABOUT action as we unite and work together towards our goal THE COVER to become a bigger player in the industry. In the midst of changes in the political and economic landscape, to be able to quickly act on opportunities is essential. Sulong Phoenix! We’re ready to soar. SULONG PHOENIX VISION To be an indispensable partner in the journey of everyone ABOUT whose life we touch US MISSION • We deliver the best value in products and services to our business partners • We conduct our business with respect, integrity, and excellence • We provide maximum returns to our shareholders and investors • We create opportunities for learning, growth, and recognition to the Phoenix Family • We build programs to nurture the environment and welfare of the communities we serve 02 | 2016 ANNUAL REPORT PHOENIX PETROLEUM PHILIPPINES, INC. Phoenix Petroleum Philippines, Inc. (PNX) is the leading independent and fastest-growing oil company in the Philippines.
    [Show full text]
  • Kyrgyz Hero Kubanychbek Eager for Shot at Ayoub
    MONDAY, MARCH 1, 2021 11 Guliev dismisses Rudra, Kyrgyz hero Kubanychbek predicts first-round finish eager for shot at Ayoub Abdisalam Kubanychbek looks for a title shot against Ayoub after BRAVE CF 47 Kubanychbek welcomes• Dy’s challenge TDT | Manama RAVE CF 47: Asian Dom- ination will put two of Bthe biggest Lightweights TDT | Manama it. I will finish him inside the in the continent on opposite first round, with submission. sides, as Abdisalam Kubanych- li Guliev is a man with My wish then will be to fight bek takes on Rolando Dy in the Athe confidence of an un- Muhammad Mokaev. I have main event of the March 11th defeated fighter. Riding a five- challenged him several times. show. On the line, the right for win streak, with all of his five He hasn’t accepted but now I Asian supremacy, but most im- professional fights ending with am BRAVE CF fighter too’’, says portantly, a guaranteed title shot his hand raised, the Azerbai- the young fighter, who promis- against Amin Ayoub. jani rising star will fight for es BRAVE CF fans won’t forget the first time under the BRAVE him after his debut. CF banner, when he takes on ‘’My message to BRAVE Na- India’s pride Rana Rudra at tion is that they will not forget I consider Rolando BRAVE CF 47: Asian Domina- me for a long time. They have a very experienced tion. yet to see a fighter like me in opponent, and I And Guliev is already pre- action’’. For Kubanychbek, the chance and I must be ready for this.
    [Show full text]
  • Project Implementation Plan
    CHAPTER 5 PROJECT IMPLEMENTATION PLAN The Supplementary Survey on North South Commuter Rail Project (Phase II-A) in the Republic of the Philippines FINAL REPORT CHAPTER 5 PROJECT IMPLEMENTATION PLANNING 5.1 Examination of Preliminary Construction Plan The construction of NSCR will require careful planning and organization, given the magnitude of the works, time constraints and the location of the works on busy national and arterial roads within Metropolitan Manila and Bulacan Province. 5.1.1 Temporary Works 1) Temporary Access to Site It is necessary to apply countermeasures flooding during heavy rain season because of the low ground level between Malolos and Caloocan. There is no problem with an access road to the site along the main road in this area. However, it is necessary to consider to construct temporary access to site far from main roads. In swampy areas between Malolos and San Fernando along the PNR Route, it is necessary to construct a temporary steel stage for machinery or materials transportation during construction. It is necessary to install sheet piles to avoid an intrusion of ground water during construction of the substructure. 2) Sufficient Space for the Works There are some narrow ROW sections between Malolos and Caloocan along the PNR Route. During construction of elevated structures, it is necessary to have more than 15m width for access road to secure access of many trucks, truck mixers and other construction equipment transportation to the site. After construction, the temporary access shall be maintained more than 15m width as a service road for maintenance or emergency evacuation. Source: JICA Study Team Figure 5.1.1 Necessary ROW for Elevated Structures 5-1 5.1.2 Viaduct 5.1.2.1 Foundations Viaduct foundations comprise of conventional bored piles and pile caps.
    [Show full text]
  • VICE President KONTRABIDAS
    2018 FEBRUARY NEW Kapuso Loveteam? Andre & Klea ANNULMENT OK lo PHILIPPINES - The House of Rep- Under the bill, marriage annulments veteam? resentatives has approved a proposed law that eliminates the costly judicial ANNULMENT process for marriage annulment. continued on page 25 JADINE movie ‘Never Not love you’ not happening? Am-FILIPINO star in HollYwood Dengue Vaccine Versace Assassination TV Show Side Effects PEOPLE Who use Blown out of EMOJIS a LOT have More sex proportion VICE President Office will DISaPPear Binibining Pilipinas 4th year longest FILIPINOS TOP on Binibining Pilipinas contestants like Agatha Romero (TOP)and crossover This photo, taken on April 4, 2016, shows a nurse showing vials of beauty queen Catriona Gray (ABOVE) the dengue vaccine Dengvaxia, developed by French medical giant are ready to represent the Philippines. Sanofi Pasteur, during a vaccination program at an elementary school in Metro Manila. A group of physicians and scientists has issued a statement expressing dismay at how the controversy surrounding the an- PORNHUB ti-dengue Dengvaxia vaccine has started to WHY showbiz need GOOD “erode” public confidence in the country’s vaccination programs. The statement, which was emailed to media outfits, was signed by 58 doctors, in- cluding former Health secretaries Esparan- KONTRABIDAS za Cabral and Manuel Dayrit. “The unnecessary fear and panic, largely brought about by the imprudent language reduce and unsubstantiated accusations by persons whose qualifications to render any expert opinion on the matter are questionable, at best, have caused many parents to resist having their children avail of life saving STRESS vaccines that our government gives,” the SEX statement read.
    [Show full text]
  • NORTH LUZON, PHILIPPINES Case Study (Transportation)
    NORTH LUZON, PHILIPPINES Case Study (Transportation) Project Summary: The Republic of the Philippines is an archipelagic nation in Southeast Asia comprised of 7,107 islands. The Philippines is home to over 91 million people, living on approximately 300,000 square kilometers. About half the population lives on the island of Luzon, where the capital, Manila, is located. Congestion in and around the capital is an area of concern for the Philippine government. The North Luzon Expressway is the main transport corridor from the Manila metropolitan area to central and north Luzon; there is no viable alternative for travelers. Built between 1975 and 1977 by the Department of Public Works and Highways, the expressway operated as a toll road. Originally, the expressway was franchised to a private company; however, this was later taken over by the government and renamed the Philippine National Construction Corporation PNCC). Under PNCC’s management, the expressway was not adequately maintained. In addition, growing traffic volume meant that the expressway’s capacity could no longer meet commuter needs. By the mid-1990s, about 160,000 vehicles traveled on the expressway each day, but with narrow lanes and heavy traffic, congestion became a major problem. The expressway also experienced a large number of avoidable accidents and deaths over the years. In the early 1990s, the Philippine government passed legislation that promoted and regulated the use of public-private partnerships (PPPs) in repairing existing infrastructure and building new projects. The Build-Operate-Transfer (BOT) Law of 1993 (as amended in 1994) provided the opportunity to utilize a BOT-type approach to modernizing the North Luzon Expressway.
    [Show full text]
  • Proceedings of the Seminar on Asian Toll Road Development in an Era Of
    The World Bank Ministry of Construction, Japan Seminar on Asian Toll Road Development in an Era of Financial Crisis Tokyo International Forum: March 9 – 11, 1999 Proceedings of the Seminar Volume I: Main Text March 1999 PADECO Co., Ltd. in association with Highway Planning Inc., and Value Management Institute, Inc. “Exchange of Knowledge” Panel Discussion on the third day of the Seminar Seminar Venue Tokyo International Forum (Photo courtesy of the Tokyo International Foundation) Proceedings of the Seminar Table of Contents Table of Contents Volume I: Main Text 1 INTRODUCTION............................................................................................................1-1 2 OPENING ADDRESS, Session 1-1 .................................................................................2-1 • Mr. Kei-ichi Inoue, Ministry of Construction, Japan .........................................2-1 3 KEYNOTE SPEECH, Session 1-2...................................................................................3-1 • Prof. Yataro Fujii, Keio University, Japan..........................................................3-1 4 MAJOR TOLL ROAD ISSUES AND LESSONS LEARNED, Session 1-3 (Text of Speech and Selected Discussion) .........................................................4-1 • Dr. Chiaki Kuranami, PADECO Co., Ltd., Japan ..............................................4-1 5. ROAD DEVELOPMENT UNDER THE CURRENT ECONOMIC SITUATION IN ASIA, Session 1-4 (Summary of Presentations and Selected Discussion) ........5-1 • Ir. Sumaryanto Widayatin, Bina
    [Show full text]
  • Multidisciplinary Sports Management
    www.rehabtrends.com.ph +639178684353 [email protected] MULTIDISCIPLINARY SPORTS MANAGEMENT COURSE BACKGROUND Multidisciplinary sports management involves all of the members of sports management team that deals with the enhancement of athletic performance and the treatment and prevention of related to sports and exercises. Prevalence of sports injuries in the Philippines increases as many Filipinos are now engaged in active lifestyle. Sports Rehabilitation offers a scientific, evidence-based approach to individualize the plan of treatment and rehabilitation. The team collaboratively uses progressive techniques to ensure the safest and most effective rehabilitation possible and incorporates injury prevention education to help avoid future injuries. This one-day postgraduate course will introduce the postgraduate students to holistic approaches in enhancing athletic performance. PROGRAM OUTCOME At the end of the course, the post-graduate students will be able to distinguish and delineate the different roles of sports medicine team in the enhancement of athletic performance. INTENDED LEARNING OUTCOMES At the end of the session, the students will be able to: Distinguish the roles of members of the sports management team in athletic training Consider the influence of athletes’ morale in their performance Apply the different principle of strength and conditioning in their practice Demonstrate the some on-field management of acute and overuse injuries in athletes Discuss and explain the common team sports injuries and its prevention Apply the criteria to safely allow the athlete to continuing playing even after injury Discuss the evidences of the current injury management May 22, 2016 8AM-5PM 5th Floor Basilio-Valdez Hall Our Lady of Lourdes Hospital, Sta.
    [Show full text]
  • A Policy Brief on Philippine Roads and Rail Infrastructure
    A Policy Brief on Philippine Roads and Rail Infrastructure AUTHOR JOHN D. FORBES is a private business consultant, author, and public speaker. He is Senior Adviser of the Arangkada Philippines Project at the American Chamber of Commerce of the Philippines (AmCham) and chairman of its Legislative Committee. He is also a senior counselor for Vriens and Partners Pte. Ltd. of Singapore. John is the author of Arangkada Philippines 2010: A Business Perspective and two AmCham Roadmaps to More Foreign Investment in the Philippines. The American Enterprise Institute published his monograph Jamaica: Managing Political and Economic Change in a Third World Democracy. He received his education from Georgetown University, Princeton University, and Harvard University and served as an American diplomat for 25 years, beginning in Vietnam and the Philippines. John worked in the Bureau of East Asia and Pacific Affairs, the Bureau of Congressional Affairs, the Policy Planning Staff, the US Congress, and as a Special Assistant to the Undersecretary for Political Affairs. POLICY BRIEF EDITORIAL TEAM: Editor-in-Chief: John D. Forbes Managing Editor: Sarah Kathrina F. Gomez Economic Researcher: Charles John P. Marquez Research Assistant: Lia Angela H. Daus Cover: Christina Maria D. Tuguigui Layout: Mary Grace Dilag-Mojica LIST OF SPONSORS • American Chamber of Commerce of the Philippines, Inc. • Australian-New Zealand Chamber of Commerce of the Philippines • Bankers Association of the Philippines • Canadian Chamber of Commerce of the Philippines • Confederation of Wearable Exporters of the Philippines • European Chamber of Commerce of the Philippines • Foundation for Economic Freedom • Japanese Chamber of Commerce and Industry of the Philippines, Inc.
    [Show full text]
  • The Study of Master Plan on High Standard Highway Network Development in the Republic of the Philippines
    JAPAN INTERNATIONAL COOPERATION AGENCY REPUBLIC OF THE PHILIPPINES DEPARTMENT OF PUBLIC WORKS AND HIGHWAYS The Study of Masterplan on High Standard Highway Network Development In the Republic of the Philippines RRegionalegional GrowthGrowth PolePole CityCity Frontage Road （PrimaryPrimary CityCity） Grade Separation Small City （Tertiary City） Small City （ ） Tertiary City Small City ss （Tertiary City） pa Small City y （Tertiary City） RRegionalegional GGrowthrowth B PPoleole CCityity Medium City Special （Secondary City） （PrimaryPrimary CCityity） Economic Zone National Road Town Small City MegaMega CityCity （Tertiary City） HSH 1 International Airport IInternationalnternational PPortort HSH 1 FINAL REPORT Executive Summary JULY 2010 CTI ENGINEERING INTERNATIONAL CO., LTD. EID JR 10-100(1/4) JAPAN INTERNATIONAL COOPERATION AGENCY (JICA) REPUBLIC OF THE PHILIPPINES DEPARTMENT OF PUBLIC WORKS AND HIGHWAYS THE STUDY OF MASTER PLAN ON HIGH STANDARD HIGHWAY NETWORK DEVELOPMENT IN THE REPUBLIC OF THE PHILIPPINES FINAL REPORT EXECUTIVE SUMMARY JULY 2010 CTI ENGINEERING INTERNATIONAL CO., LTD. EXCHANGE RATE February 2010 1 PhP = 1.95 Japan Yen 1 US$ = 46.31 Philippine Peso 1 US$ = 90.14 Japan Yen Central Bank of the Philippines PREFACE In response to the request of the Government of the Republic of the Philippines, the Government of Japan decided to conduct the “Study of Master Plan on High Standard Highway Network Development in the Republic of the Philippines” and entrusted the Study to the Japan International Cooperation Agency (JICA). JICA selected
    [Show full text]
  • Preparatory Survey on PPP Project for Development of a Connector Road in Manila
    REPUBLIC OF THE PHILIPPINES Preparatory Survey on PPP Project for Development of a connector road in Manila FINAL REPORT (JR) October 2011 JAPAN INTERNATIONAL COOPERATION AGENCY Oriental Consultants Co., Ltd. Central Nippon Expressway Company Limited OPS West Nippon Expressway Company Limited （先） CTI Engineering International Co., Ltd. JR 11- 011 REPUBLIC OF THE PHILIPPINES Preparatory Survey on PPP Project for Development of a connector road in Manila FINAL REPORT (JR) October 2011 JAPAN INTERNATIONAL COOPERATION AGENCY Oriental Consultants Co., Ltd. Central Nippon Expressway Company Limited West Nippon Expressway Company Limited CTI Engineering International Co., Ltd. ABBREVIATION (1/3) AASHTO American Association of State Highway and Transportation Office ADB Asian Development Bank ASTM American Society for Testing and Materials AVI Automatic Vehicle Identification BCDA Base Conversion Development Authority BIR Bureau of Internal Revenue BOT Build-Operate-Transfer BPO Business Processing Outsourcing CCTV Closed-Circuit Television CDCP Construction Development Corporation of the Philippines CTMS Central Traffic Control System DBM Department of Budget and Management DBP Development Bank of the Philippines DED Detailed Engineering Design DENR Department of Environment and Natural Resources DFS Detailed Feasibility Study DOF Department of Finance DPWH Department of Public Works and Highways DSCR Debt Service Coverage Ratio ECB Emergency Call Box ECC Environmental Compliance Certificate EIA Environmental Impact Assessment EIRR Economic Internal
    [Show full text]
  • Metro Pacific Tollways Corporation and Subsidiaries
    Metro Pacific Tollways Corporation (A Subsidiary of Metro Pacific Investments Corporation) and Subsidiaries Consolidated Financial Statements December 31, 2019 and 2018 and Independent Auditor’s Report SyCip Gorres Velayo & Co. Tel: (632) 891 0307 BOA/PRC Reg. No. 0001, 6760 Ayala Avenue Fax: (632) 819 0872 October 4, 2018, valid until August 24, 2021 1226 Makati City ey.com/ph SEC Accreditation No. 0012-FR-5 (Group A), Philippines November 6, 2018, valid until November 5, 2021 INDEPENDENT AUDITOR’S REPORT The Board of Directors and Stockholders Metro Pacific Tollways Corporation Opinion We have audited the consolidated financial statements of Metro Pacific Tollways Corporation (a subsidiary of Metro Pacific Investments Corporation) and its subsidiaries (the Company), which comprise the consolidated balance sheets as at December 31, 2019 and 2018, and the consolidated statements of income, consolidated statements of comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows for the years then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company as at December 31, 2019 and 2018, and its consolidated financial performance and its consolidated cash flows for the years then ended in accordance with Philippine Financial Reporting Standards (PFRSs). Basis for Opinion We conducted our audits in accordance with Philippine Standards on Auditing (PSAs). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report.
    [Show full text]