DOCSLIB.ORG

October 15, 2008

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
October 15, 2008 Energy Development Corporation 38th Floor, One Corporate Centre Building, Julia Vargas corner Meralco Avenue Ortigas Center, Pasig 1605, Philippines Trunklines: +63 (2) 667-7332 (PLDT) / +63 (2) 755-2332 (Globe) April 1, 2015 JANET A. ENCARNACION HEAD, Disclosures Department The Philippine Stock Exchange, Inc. Philippine Stock Exchange Plaza Ayala Triangle, Ayala Avenue, Makati City Dear Ms. Encarnacion: In compliance with the Philippine Stock Exchange disclosure requirement, we submit the attached Notice of May 5, 2015 Annual Stockholders’ Meeting and SEC Form 20-IS (Definitive Information Statement). Energy Development Corporation (A Subsidiary of Red Vulcan Holdings Corporation) and Subsidiaries Consolidated Financial Statements December 31, 2014 and 2013 and Years Ended December 31, 2014, 2013 and 2012 and Independent Auditors’ Report SyCip Gorres Velayo & Co. Tel: (632) 891 0307 BOA/PRC Reg. No. 0001, 6760 Ayala Avenue Fax: (632) 819 0872 December 28, 2012, valid until December 31, 2015 1226 Makati City ey.com/ph SEC Accreditation No. 0012-FR-3 (Group A), Philippines November 15, 2012, valid until November 16, 2015 INDEPENDENT AUDITORS’ REPORT The Stockholders and the Board of Directors Energy Development Corporation We have audited the accompanying consolidated financial statements of Energy Development Corporation (a subsidiary of Red Vulcan Holdings Corporation) and its Subsidiaries, which comprise the consolidated statements of financial position as at December 31, 2014 and 2013, and the consolidated statements of income, statements of comprehensive income, statements of changes in equity and statements of cash flows for each of the three years in the period ended December 31, 2014, and a summary of significant accounting policies and other explanatory information. Management’s Responsibility for the Consolidated Financial Statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Philippine Financial Reporting Standards, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with Philippine Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. *SGVFS011523* A member firm of Ernst & Young Global Limited - 2 - Opinion In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of Energy Development Corporation and its Subsidiaries as at December 31, 2014 and 2013, and their financial performance and their cash flows for each of the three years in the period ended December 31, 2014 in accordance with Philippine Financial Reporting Standards. SYCIP GORRES VELAYO & CO. Ladislao Z. Avila, Jr. Partner CPA Certificate No. 69099 SEC Accreditation No. 0111-AR-3 (Group A), January 18, 2013, valid until January 17, 2016 Tax Identification No. 109-247-891 BIR Accreditation No. 08-001998-43-2012, April 11, 2012, valid until April 10, 2015 PTR No. 4751254, January 5, 2015, Makati City March 6, 2015 *SGVFS011523* A member firm of Ernst & Young Global Limited ENERGY DEVELOPMENT CORPORATION (A Subsidiary of Red Vulcan Holdings Corporation) AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF FINANCIAL POSITION December 31 2014 2013 ASSETS Current Assets Cash and cash equivalents (Notes 7 and 31) P=14,010,213,414 16,043,154,556 Trade and other receivables (Notes 3, 8, 20 and 31) 6,887,533,961 3,611,367,033 Financial assets at fair value through profit or loss (Notes 3, 9 and 31) 523,593,442 – Parts and supplies inventories (Notes 3 and 10) 2,902,452,788 3,094,303,449 Derivative assets (Note 31) 22,024,164 14,244,905 Available-for-sale investments (Notes 3, 9 and 31) – 341,841,500 Other current assets (Note 11) 720,967,433 1,235,454,883 Total Current Assets 25,066,785,202 24,340,366,326 Noncurrent Assets Property, plant and equipment (Notes 3 and 12) 83,073,524,410 66,240,009,563 Goodwill and intangible assets (Notes 3 and 13) 4,542,553,788 4,399,527,299 Exploration and evaluation assets (Notes 3 and 14) 2,801,502,406 2,380,775,489 Available-for-sale investments (Notes 3, 9 and 31) 567,976,890 407,242,129 Deferred tax assets - net (Notes 2 and 28) 1,049,978,028 1,335,077,588 Derivative assets (Note 31) 132,144,980 46,885,196 Other noncurrent assets (Notes 3, 15 and 31) 7,264,999,222 5,855,620,746 Total Noncurrent Assets 99,432,679,724 80,665,138,010 TOTAL ASSETS P=124,499,464,926 P=105,005,504,336 LIABILITIES AND EQUITY Current Liabilities Trade and other payables (Notes 3, 16 and 31) P=7,639,327,438 P=6,981,975,893 Due to related parties (Notes 20 and 31) 49,625,468 53,347,005 Income tax payable 58,743,150 – Current portion of: Long-term debts (Notes 17 and 31) 10,499,672,112 1,872,075,873 Derivative liabilities (Note 31) 3,394,698 524,790 Total Current Liabilities 18,250,762,866 8,907,923,561 Noncurrent Liabilities Long-term debts - net of current portion (Notes 17 and 31) 58,962,569,562 56,676,684,462 Derivative liabilities - net of current portion (Note 31) 166,340,202 3,673,532 Deferred tax liability 2,612,598 – Net retirement and other post-employment benefits (Notes 3 and 27) 1,795,995,440 1,658,587,597 Provisions and other long-term liabilities (Notes 3 and 18) 1,701,097,781 1,513,676,279 Total Noncurrent Liabilities 62,628,615,583 59,852,621,870 Total Liabilities 80,879,378,449 68,760,545,431 (Forward) *SGVFS011523* - 2 - December 31 2014 2013 Equity Equity attributable to equity holders of the Parent Company: Preferred stock (Note 19) P=93,750,000 P=93,750,000 Common stock (Note 19) 18,750,000,000 18,750,000,000 Common shares in employee trust account (Notes 19 and 30) (346,730,774) (351,494,001) Additional paid-in capital (Note 30) 6,285,845,818 6,282,808,842 Equity reserve (Note 19) (3,706,430,769) (3,706,430,769) Net accumulated unrealized gain on available-for-sale investments (Note 9) 143,192,675 29,611,321 Cumulative translation adjustments on hedging transactions (Note 31) (178,182,172) (55,615,718) Cumulative translation adjustment arising from foreign subsidiaries (6,530,344) (8,698,511) Retained earnings (Notes 2 and 19) 21,095,090,585 13,204,236,334 42,130,005,019 34,238,167,498 Non-controlling interests (Notes 2 and 19) 1,490,081,458 2,006,791,407 Total Equity 43,620,086,477 36,244,958,905 TOTAL LIABILITIES AND EQUITY P=124,499,464,926 P=105,005,504,336 See accompanying Notes to Consolidated Financial Statements. *SGVFS011523* ENERGY DEVELOPMENT CORPORATION (A Subsidiary of Red Vulcan Holdings Corporation) AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME Years Ended December 31 2014 2013 2012 REVENUE FROM SALE OF ELECTRICITY (Notes 3, 12, 34, 35, 37 and 38) P=30,867,199,917 P=25,656,270,470 P=28,368,552,055 COSTS OF SALE OF ELECTRICITY (Notes 2, 10, 12, 20, 21, 23 and 27) (11,314,332,241) (9,435,354,924) (9,824,274,420) GENERAL AND ADMINISTRATIVE EXPENSES (Notes 2, 8, 10, 12, 15, 22, 23 and 27) (5,744,349,133) (4,332,188,248) (4,702,875,529) FINANCIAL INCOME (EXPENSE) Interest income (Notes 7, 24 and 31) 184,691,655 294,047,366 364,640,989 Interest expense (Notes 17, 24 and 31) (3,754,010,722) (3,384,499,304) (3,703,648,469) (3,569,319,067) (3,090,451,938) (3,339,007,480) OTHER INCOME (CHARGES) Reversal of impairment of property, plant and equipment (Notes 3 and 12) 2,051,903,642 – 63,614,885 Proceeds from insurance claims (Note 12) 539,212,484 – – Foreign exchange gains (losses) - net (Notes 25 and 31) (102,531,122) (1,261,278,106) 1,053,466,774 Reversal of (loss on) impairment of damaged assets due to Typhoon Yolanda (Notes 10 and 12) 53,443,007 (625,013,609) – Loss on impairment of exploration and evaluation assets (Notes 3 and 14) – (574,820,864) – Miscellaneous - net (Note 26) 259,370,942 (223,109,595) (225,328,564) 2,801,398,953 (2,684,222,174) 891,753,095 INCOME BEFORE INCOME TAX FROM CONTINUING OPERATIONS 13,040,598,429 6,114,053,186 11,394,147,721 PROVISION FOR (BENEFIT FROM) INCOME TAX (Note 28) Current 934,128,656 685,663,122 433,838,464 Deferred 288,460,745 (199,679,773) 341,284,130 1,222,589,401 485,983,349 775,122,594 NET INCOME FROM
Load more

Recommended publications
  • 2012-SEC17A-AMENDED-PSE.Pdf
    SEC Number 66381 File Number _____ ENERGY DEVELOPMENT CORPORATION (Company’s full Name) One Corporate Centre Julia Vargas cor. Meralco Ave., Ortigas Center, Pasig City (Company’s Address) (632) 755-2332 (Telephone Number) December 31, 2012 (Fiscal Year Ending) AMENDED SEC FORM 17-A/A-1 (Form Type) Corporation Finance Department (SEC Department) Total Number of Stockholders as of December 31, 2012: 700 SECURITIES AND EXCHANGE COMMISSION SEC FORM 17-A, AS AMENDED ANNUAL REPORT PURSUANT TO SECTION 17 OF THE SECURITIES REGULATION CODE AND SECTION 141 OF THE CORPORATION CODE OF THE PHILIPPINES 1. For the fiscal year ended December 31, 2012 2. Commission identification number: 66381 3. BIR Tax Identification No. 000-169-125-000 4. Exact name of issuer as specified in its charter: ENERGY DEVELOPMENT CORPORATION 5. PHILIPPINES 6. (SEC Use Only) Province, country or other jurisdiction of Industry Classification Code incorporation or organization 7. One Corporate Centre Julia Vargas cor. Meralco Ave., Ortigas Center, Pasig City 1605 Address of issuer's principal office Postal Code 8. (632) 755-2332 Issuer's telephone number, including area code: 9. Former name, former address and former fiscal year, if changed since last report: 10. Securities registered pursuant to Sections 8 and 12 of the Code, or Sections 4 and 8 of the RSA Title of each Class Number of shares outstanding as of December 31, 2012 Common Stock, P1.00 par value 18,750,000,000 Preferred Stock, P0.01 par value 9,375,000,000 11. Are any or all of the securities listed on a Stock Exchange? Yes [ √ ] No [ ] If yes, state the name of such Stock Exchange and the class/es of securities listed therein: Philippine Stock Exchange Common Stock 12.
    [Show full text]
  • Philippine Broadband: a Policy Brief
    AUTHOR Ms. Mary Grace Mirandilla-Santos is an independent researcher specializing in telecommunications and information and communications technology (ICT) policy, and technology’s impact on development and society. Her areas of interest include telecoms/ICT regulation and competition policy, e-government, e-democracy, and universal ICT access. She has been a policy analyst and researcher for the past 15 years and have worked on various donor-funded technical assistance projects to the Philippines government, as well as local and international nonprofits and development institutions. Currently, she is a national ICT research consultant at the Asian Development Bank and recently worked as a local expert for a European Union-funded research project on telecommunications competition mapping. It is her personal advocacy to promote better Internet service in the country. She is vice president for policy of the Internet Society (ISOC) Philippines Chapter and a research fellow of LIRNEasia, a regional ICT policy think tank active in the Asia Pacific. Editor: : John D. Forbes Cover Concept & Layout : Christina Maria D. Tuguigui Coordinators : John Vincent C. Pimentel and Froland M. Tajale Sponsors : American Chamber of Commerce of the Philippines Australian New Zealand Chamber of Commerce of the Philippines Canadian Chamber of Commerce Coalitions for Change, a partnership of the Australian Embassy and The Asia Foundation Contact Center Association of the Philippines Democracy.net.ph Employers Confederation of the Philippines European Chamber of Commerce of the Philippines Foundation for Economic Freedom Federation of the International Cable TV and Telecommunications Association of the Philippines IT and Business Process Association of the Philippines Internet Society (Philippine Chapter) Japanese Chamber of Commerce and Industry of the Philippines Korean Chamber of Commerce of the Philippines Management Association of the Philippines Philippine Association of Multinational Companies Regional Headquarters, Inc.
    [Show full text]
  • Bayan Foundation: Helping Build the Nation from Below
    June 2007 A forbirthday Meralco chairman surprise Manuel M. Lopez at the LAA...pp.4 & 8 Bayan Foundation: Helping 1Q 2007 fi nancial results: build the nation from below IN a town in La Union, it was report- But this story of transformation neurs—but also stewards of funds; they First Gen, ed that fewer people knocked on the actually goes back to a decade earlier, were able to pay their loans on time with doors of Bauang Private Power Corp. to a group of women living in a de- interest. That inspired ABS-CBN Foun- pinakamalakas (BPPC) to ask for donations. Sari-sari pressed area in Metro Manila. dation Inc. [AFI] under Gina Lopez to kumita...p.2 stores started sprouting, and residents In 1997, the Lopezes loaned 25 make microfi nance a regular program engaged each other in a friendly com- women from Loyola Heights, Quezon under the foundation,” says ABS-CBN petition to come up with the best pro- City a certain amount of money to be Bayan Foundation Inc.’s Irma Cosico. cessed meat and fi sh products. Most used for a small business of their choice. Armed with additional fund- surprising of all, local moneylend- They were asked to pay off the loan, with ing from the BPPC, ABS-CBN Bay- ers lowered the interest they charged interest, within a designated period. an headed north to La Union and residents to 10% from the customary “That initial step proved that wom- 20%. en can be good—not only entrepre- Turn to page 6 2 exhibits open at the Lopez Museum ...p.9 Back-to-school fi n d s @ P o w e r ...p.12 Passing on the values: A typical Bayan client in Quezon Plant Mall City as she involves her whole family in her enterprise.
    [Show full text]
  • Accs Cfs1218 Abscbn Corporation and Subs Filed.Pdf
    ABS-CBN CORPORATION ANNUAL REPORT PART I - BUSINESS AND GENERAL INFORMATION 3 1. Business Overview 3 1.1. Historical Background 3 1.2. Lines of Business 3 1.3. Subsidiaries 6 1.4. Significant Philippine Associates and Affiliates 8 1.5. Competition 8 1.6. Patents, Trademarks, Licenses, Franchises, Concessions, Royalty 12 1.7. Corporate Social Responsibility 16 1.8. Principal Competitive Strengths of the Company 18 1.9. Key Strategies and Objectives 21 1.10. Transactions with Related Parties 19 1.11. Risks Relating to the Company 20 2. Properties 20 2.1. Head Office 20 2.2. Local and Regional Properties 23 2.3. Leased Properties: 25 3. Legal Proceedings 207 4. Submission of Matters to a Vote of Security Holders 28 PART II - OPERATIONAL AND FINANCIAL INFORMATION 30 5. Market for Issuer’s Common Equity and Related Stockholder Matters 28 6. Management’s Discussion and Analysis of Financial Condition and Results of Operations 284 7. Financial Statements 34 8. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 34 PART III - CONTROL AND COMPENSATION INFORMATION Error! Bookmark not defined. 9. Directors and Executive Officers of the Issuer 35 9.1. Board of Directors 35 9.2. Executive / Corporate Officers 39 10. Executive Compensation 44 11. Security Ownership of Certain Beneficial Owners and Management 46 12. Certain Relationships and Related Transactions 49 PART IV - CORPORATE GOVERNANCE 52 13. Corporate Governance 52 PART V - EXHIBITS and SCHEDULES 65 14. Exhibits and Reports on SEC Form 17-C 65 SIGNATURES 65 PART I - BUSINESS AND GENERAL INFORMATION 1.
    [Show full text]
  • SEC Number AS093-04369 TIN Number 002-825-058 BENPRES
    SEC Number AS093-04369 TIN Number 002-825-058 BENPRES HOLDINGS CORPORATION 4th Floor, Benpres Building Exchange Road cor. Meralco Ave. Pasig City, Metro Manila 910 3040 (Telephone Number) December 31 (Fiscal Year Ending) FORM 17-A Annual Report (Form Type) December 31, 2002 SECURITIES AND EXCHANGE COMMSSION 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 fiscal year ended December 31, 2002 2. SEC Identification No. AS 093004369 3. BIR Tax Identification No. 002-825-058 4. Exact name of the registrant as specified in its charter BENPRES HOLDINGS CORPORATION 5. Philippines 6. ________ (SEC use only) Province, Country or other jurisdiction of Industry Classification code: Incorporation or organization 7. 4/F Benpres Building, Meralco Ave. corner Exchange Road, Pasig City, 1600 . Address of principal office Postal code 8. (632) 631-3111 Registrant’s telephone number, including area code 9. Not applicable Former name, former address, and former fiscal year, if changed since last year 10. Securities registered pursuant to Sections 8 and 12 of the SRC, OR Sec. 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Parent Consolidated Common Stock 4,581,544,408 shares Long-term Commercial Papers P2,000,000,000 P3,000,000,000 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 17 thereunder or Section 11 of the RSA Rule 11(a)-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.
    [Show full text]
  • 1999 Annual Report
    Dear Fellow Shareholders: BayanTel and SkyCable will be reconfigured to take full advantage of their joint carriage capabilities. The The impact of globalization and technology on world converged BayanTel and SkyCable will create an economies has made it necessary for business units to Integrated Broadband Services Group that will allow reinvent themselves, to devise new ways of exacting content provided by ABS-CBN and our new media improved efficiencies in operations. Boundaries are companies to be available to corporate and consumer falling down, like the old Berlin wall, between companies clients. and between technologies. Big is no longer bad, so long as competitive pressure continues to provide the best At present, SkyCable is offering Internet access through value to the customer. both cable and dial-up facilities, while BayanTel provides dedicated Internet access through leased lines and Thus it seems that companies, notably those involved in Frame Relay. In the future, BayanTel and SkyCable will technology, are merging to gain the financial and jointly offer cable telephony. technical muscle necessary to invest in and to develop the products and services for today’s emerging economy. From the point of view of the customer, a single wire into Technologies too are merging with each other, with his home or office will bring not only entertainment on boundaries blurring between software and hardware, traditional cable television but also broadband access to carriage and content. the Internet and eventually, voice over IP (Internet Protocol). All these are captured in a word that is often heard today: convergence. Simply, convergence refers to the coming together of technologies and systems used in what used to be separate industries, to create new and improved products and services that improve operations, as well as better serve customers.
    [Show full text]
  • Amendment to Memorandum Circular No. 06-07-2016, Lifting the Suspension of the Implementation of the 4-Digit Exchange Codes for Area Code “02”
    MEMORANDUM CIRCULAR No. __________ SUBJECT: AMENDMENT TO MEMORANDUM CIRCULAR NO. 06-07-2016, LIFTING THE SUSPENSION OF THE IMPLEMENTATION OF THE 4-DIGIT EXCHANGE CODES FOR AREA CODE “02”. WHEREAS, Sec. 5 (b) of Republic Act No. 7925 and Executive Order No. 546 s. 1979, provides that the National Telecommunications Commission is vested with the power to ensure quality, safety, reliability, security, compatibility and inter-operability of telecommunications facilities, and to address the insufficient number of assignable exchange codes; WHEREAS, the Commission pursuant to its objective to efficiently allocate exchange codes in area code “2”, issued Memorandum Circular No. 04-06-98, Adoption of 4-Digit Exchange Codes for Area Code “2”. WHEREAS, the Commission issued Memorandum Circular No. 06-07-2016, Lifting the Suspension of the Implementation of the 4-Digit Exchange Codes for Area Code “02” ; and pursuant to the said memorandum circular, the Commission shall assign Public Telecommunications Entity (PTE) identifier to each of the PTEs operating within the local exchange area “02”. WHEREAS, the Commission invited PTEs to consultation meetings where they were requested to submit their comments or proposals to ensure efficient use of the identifiers and minimal disruption of service in the migration to 4-digit exchange codes; WHEREAS, the Commission, issued MO 10-10-2017, Public Telecommunications Entity (PTE) Identifier within local exchange code “02”; WHEREAS, the Commission conducted further consultations and hearings on the subject; NOW THEREFORE, the Commission, pursuant to Republic Act No. 7925 and Executive Order No. 546 s. 1979, hereby sets forth the following guidelines in the assignment of PTE identifier to each of the PTEs operating and providing local telephone service within the local exchange area “02”.
    [Show full text]
  • EDC 2016 Performance Report
    1 About the Cover CARBON EMISSIONS ARE THREATENING OUR WORLD But together we can tap our Earth’s clean energy. As the world changes, so must companies adapt. Energy Development Corporation (EDC), a global leader in geothermal energy and Philippine pioneer in renewable energy power production, aims to secure the future by harnessing only clean energy. The biggest threat to us right now is global warming and climate change. We want to be part of the solution, rather than contribute to the Philippines being placed in peril. The smokestacks on the cover, shown through a red filter, vividly present a problem that cannot be ignored: carbon emissions and their effects on the global climate ecosystem pose a danger to the stability of our planet, the health of our populations, and the growth of our economy. Being an energy provider in a country consistently ranked among the top five most climate-affected countries in the Global Climate Risk Index, we will not use coal. We are heeding the warning signs. Our actions are backed by scientific facts. Our sustainability efforts are geared toward making a positive change for our country’s continued growth. Editorial Team EditoriaL ADVISERS CIRCULatioN Ramon A. Carandang Glea V. Bautista Agnes C. de Jesus Ma. Antonia D. Nieva COVER DESIGN BBDO Guerrero Editor-IN-CHIEF Frances L. Ariola COPY, LAYOUT AND INFOGRAPHICS DRINK CONTRIBUtorS Atty. Maria Jasmine D. Medina-Almogino PHotograpHY Marsha A. Anave Edwin Tuyay (Portraiture) Louie Adrianne R. Cediño Martin Jhudiel D. San Diego (Portraiture) Ronino C. Gibe Toto Labrador (Portraiture) Paulo M. Gooco Ivy A.
    [Show full text]
  • PHILIPPINE TELEGRAPH and TELEPHONE CORPORATION (Incorporated in the Republic of the Philippines)
    PHILIPPINE TELEGRAPH AND TELEPHONE CORPORATION (incorporated in the Republic of the Philippines) THE SECURITIES AND EXCHANGE COMMISSION HAS NOT APPROVED THESE SECURITIES OR DETERMINED IF THIS PROSPECTUS IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE AND SHOULD BE REPORTED IMMEDIATELY TO THE SECURITIES AND EXCHANGE COMMISSION. The date of this Prospectus is 22 June 2021 TABLE OF CONTENTS GLOSSARY ...................................................................................................................................................................... 1 SUMMARY OF THE BUSINESS ...................................................................................................................................... 2 SUMMARY OF FINANCIAL INFORMATION .................................................................................................................. 5 RISK FACTORS ................................................................................................................................................................ 7 BUSINESS ..................................................................................................................................................................... 15 MANAGEMENT’S DISCUSSION AND ANALYSIS AND PLAN OF OPERATIONS ....................................................... 31 MARKET FOR ISSUER'S COMMON EQUITY AND RELATED STOCKHOLDERS’ MATTERS .................................... 533 PROPERTIES ..............................................................................................................................................................
    [Show full text]
  • 2016-Final-Audited-FS.Pdf
    SEC Number 66381 File Number ENERGY DEVELOPMENT CORPORATION (Company’s full Name) One Corporate Centre Julia Vargas cor. Meralco Ave., Ortigas Center, Pasig City (Company’s Address) (632) 755-2332 (Telephone Number) December 31, 2016 (Fiscal Year Ending) SEC FORM 17-A (2016) (Form Type) Corporation Finance Department (SEC Department) Total Number of Stockholders as of December 31, 2016: 679 SECURITIES AND EXCHANGE COMMISSION SEC FORM 17-A ANNUAL REPORT PURSUANT TO SECTION 17 OF THE SECURITIES REGULATION CODE AND SECTION 141 OF THE CORPORATION CODE OF THE PHILIPPINES 1. For the fiscal year ended December 31, 2016 2. Commission identification number: 66381 3. BIR Tax Identification No. 000-169-125-000 4. Exact name of issuer as specified in its charter: ENERGY DEVELOPMENT CORPORATION 5. PHILIPPINES 6. (SEC Use Only) Province, country or other jurisdiction of Industry Classification Code incorporation or organization 7. One Corporate Centre Julia Vargas cor. Meralco Ave., Ortigas Center, Pasig City 1605 Address of issuer's principal office Postal Code 8. (632) 755-2332 Issuer's telephone number, including area code: 9. Former name, former address and former fiscal year, if changed since last report: 10. Securities registered pursuant to Sections 8 and 12 of the Code, or Sections 4 and 8 of the RSA Title of each Class Number of shares outstanding as of December 31, 2016 Common Stock, P1.00 par value 18,737,010,000 Preferred Stock, P0.01 par value 9,375,000,000 11. Are any or all of the securities listed on a Stock Exchange? Yes [ √ ] No [ ] If yes, state the name of such Stock Exchange and the class/es of securities listed therein: PHILIPPINE STOCK EXCHANGE COMMON SHARES PHILIPPINE DEALING EXCHANGE PESO PUBLIC BONDS FIXED RATE PESO BONDS SINGAPORE EXCHANGE SECURITIES TRADING LIMITED (SGX-ST) USD BONDS 12.
    [Show full text]
  • Philippine Telecommunications Infrastructure Industry
    PHILIPPINE TELECOMMUNICATIONS INFRASTRUCTURE INDUSTRY I. OVERVIEW With the advent of the Information and Communication Technology era, the world had been reshaped. Everything has become fast paced. There has been a growing need for telecommunications and Internet services. People from all walks of life including businesses want to experience limitless capacity to cross borders in just a few clicks. Telecommunication infrastructure refers to the backbone of the communication system upon which various broadcasting and telecom services are operated. This can be built from copper cable, fiber or wireless technologies. The word infrastructure added into it implies that it is a core component connecting upstream production such as voice, data and audiovisual services with downstream consumers.1 Telecommunications can establish all forms of access points for a community and supports the deployment of powerful broadband networks to transport data and content. 2 No other industry touches as many technology-related business sectors as telecommunication, which, by definition, encompasses not only the traditional areas of local and long-distance telephone service, but also advanced technology-based services including wireless communications, the Internet, fiber optics and satellites. 3 Telecom is also intertwined with entertainment of all types. Similar to public utilities such as electricity and water, communication is vital to the development of a country as it empowers the people by connecting them across borders. By doing so, it creates multiple benefits that can be felt by the economy as a whole. A modern telecommunication infrastructure is not only important for domestic growth but also to connect domestic market of commodities as well as credit with international commodity and financial markets, this would develop the smooth flow of foreign investment, positive value of net exports, increase the value addition in GDP of an economy, etc.
    [Show full text]
  • ABS-CBN Broadcasting Corporation Sgt
    ABS-CBN Broadcasting Corporation Sgt. Esguerra Avenue, Quezon City Philippines SECURITIES AND EXCHANGE COMMISSION SEC Building, EDSA, Greenhills Mandaluyong City, Metro Manila Attention : Atty. Justina F. Callangan Director, Corporation Finance Department Mr. Orly Yaneza Corporation Finance Department Subject : Amended 2004 Annual Report (SEC Form 17-A) ----------------------------------------------------------------- Gentlemen: We are submitting herewith ABS-CBN Broadcasting Corporations’ Amended 2004 Annual Report (SEC Form 17-A) in accordance with the received checklist, along with the list of explanations as to why the required information were not reflected in the company’s original filing for the Non-Financial Disclosures section. We have also included the responses of our external auditor, SGV & Co. to the remarks on the Financial Disclosures Section. We trust that we have sufficiently addressed your concerns. Very truly yours, Randolph T. Estrellado VP-Finance & Chief Financial Officer 11th Floor, ELJ Communications Center, Eugenio Lopez Jr. Drive, Quezon City, Philippines Tel. Nos. (632) 924-4101 to 22 / Fax No.: (632) 431-9368 Visit our website at www.abscbn-ir.com CHECKLIST OF AMENDMENTS TO SEC FORM 17-A NON-FINANCIAL DISCLOSURES CHECKLIST SUMMARY OF COMMENTS SEC REMARKS ABS-CBN EXPLANATIONS PART I – BUSINESS AND GENERAL INFORMATION 1) Comply w/ Requested changes have been COVER PAGE required format. made 2) Indicate page numbers ITEM 1. BUSINESS Principal products or services and their markets indicating Incomplete (indicate This information is disclosed in Note their relative contribution to sales or revenues of information per 3: Segment Information of the each product or service, or group of related highlighted portion) Financial Statements products or services, which contribute ten percent (10%) or more to sales or revenues.
    [Show full text]