http://www.firstpacific.com 00142 (1)BEACON ELECTRIC ASSET HOLDINGS, INC. PILIPINO TELEPHONE CORPORATION MANILA ELECTRIC COMPANYPILIPINO TELEPHONE CORPORATION BEACON ELECTRIC ASSET HOLDINGS, INC. (2) BEACON ELECTRIC ASSET HOLDINGS, INC. 74,700,000 MANILA ELECTRIC COMPANY BEACON ELECTRIC ASSET HOLDINGS, INC.BEACON ELECTRIC ASSET HOLDINGS, INC. 2010 3 309 316 318 2010 3 13
............................................................... 1......................................................... 6 MERALCO............ 23 MERALCO.................................... 140.................................. 295................................................. 304................................................... 316
3 1 2010 3 1 Meralco LopezFPHC First Philippine Utilities Corporation Piltel MPIC PLDT 2009 11 20 Beacon Electric Beacon Electric Asset Holdings, Inc.Rightlight Holdings Inc. MPIC FPHC MPIC MPHI MPIC 2010 3 1 MPHI MPHIMPIC MPHI MPIC ERC (Energy Regulatory Commission) 1
FPHC First Philippine Holdings Corporation Gwh 2010 3 11 Meralco Manila Electric Company 9,337 Meralco 1,000 Piltel Meralco Beacon ElectricPiltel Piltel Meralco (3 MPHI Metro Pacific Holdings, Inc. MPIC MPIC Metro Pacific Investments Corporation MPHI 55.6% 2
MPIC Meralco 163,602,961 MeralcoMPIC Beacon ElectricMeralco 14.5% MPIC-Beacon Electric MPIC 1,156,500,000 Beacon Electric801,044,415 Beacon Electric (2 MPIC-Piltel Beacon (1 (4) Electric MPICPiltel 12,500 Beacon Electric (5 MPIC Beacon Electric Piltel 2010 3 1 MPIC Piltel Meralco Meralco Beacon Electric FPHC Beacon Electric 2010 3 1 FPHC Beacon Electric 74,700,000 Meralco Beacon Electric PBR Piltel Pilipino Telephone Corporation PLDT 3
Piltel Piltel Meralco Piltel-Beacon Electric MPIC-Piltel Beacon Electric (3 (4) (5) Piltel-Beacon Electric Piltel1,156,500,000 Beacon Electric (4 Piltel Meralco 154,200,000 MeralcoPiltel Beacon ElectricMeralco 13.7% Piltel Piltel Beacon Electric 2010 3 1 Piltel Meralco Piltel Piltel Beacon Electric 2010 3 1 Piltel-Beacon Electric PLDT Philippine Long Distance Telephone Company 26.5% (i)fphc MPIC MeralcoPiltel Meralco Piltel 68,800,000 Meralco Beacon Electric (ii) FPHC Beacon Electric 2010 3 309 4
SGV Sycip Gorres Velayo & Co Philippine Regulatory Board of Accountancy 1.00 46.27.8 5
http://www.firstpacific.com 00142 Albert F. del Rosario Ibrahim Risjad Napoleon L. Nazareno Canon s Court 22 Victoria Street Hamilton HM12 Bermuda Graham L. Pickles CBE KBE (1)BEACON ELECTRIC ASSET HOLDINGS, INC. PILIPINO TELEPHONE CORPORATION MANILA ELECTRIC COMPANYPILIPINO TELEPHONE CORPORATION BEACON ELECTRIC ASSET HOLDINGS, INC. (2) BEACON ELECTRIC ASSET HOLDINGS, INC.74,700,000 MANILA ELECTRIC COMPANY BEACON ELECTRIC ASSET HOLDINGS, INC.BEACON ELECTRIC ASSET HOLDINGS, INC. 6
3 1 2010 3 1 MPIC Piltel Beacon Electric MPIC Piltel Meralco Beacon Electric MPIC Piltel 50 50 MPICMPHI 55.6% Piltel 26.5% PLDTBeacon Electric MPIC Meralco MPIC Piltel 1.636 MeralcoMeralco 14.5% 1.542 MeralcoMeralco 13.7% Beacon Electric Beacon Electric Meralco 28.2% Meralco 3 12009 11 10 FPHC MPIC MeralcoMeralco 6.6% 2010 3 1Beacon Electric 1. 2. Piltel 3. (1) MPIC Beacon Electric163,602,961 Meralco Meralco14.5%24,540,444,150 5.312 41.432Meralco150 3.2525.3 (2) MPIC-Beacon Electric MPIC1,156,500,000 Beacon Electric801,044,415 Beacon Electric Beacon Electric200.433.38 7
Beacon Electric100.221.69 31,140,444,1506.740 52.575 (3) Piltel Meralco Beacon Electric Piltel 154,200,000 MeralcoMeralco13.7% 23,130,000,0005.006 39.051 Meralco1503.2525.3 (4) Piltel-Beacon Electric Piltel 1,156,500,000 Beacon Electric Beacon Electric200.43 3.3823,130,000,0005.006 39.051 (5) MPIC-Piltel Beacon Electric(1 (4) MPIC Piltel 12,500 Beacon Electric 1.000.020.17 Beacon Electric MPIC Piltel 50 50 (6) MPIC Beacon Electric (1)(2)MPIC MeralcoBeacon ElectricBeacon Electric Meralco (3)(4)(5)Piltel Piltel Piltel Piltel Meralco Piltel-Beacon Electric MPIC-Piltel Beacon Electric2010 5 A. Piltel Meralco Piltel Meralco Meralco Piltel MeralcoPiltelPiltel Meralco (a) Piltel MPIC 8
(b) (c) Piltel Piltel Meralco MPIC Beacon Electric Meralco MPIC Meralco Meralco2010 3 1 Meralco 1823.9430.73 17.6% PiltelPiltel Beacon Electric (i) Meralco 2010 3 1Piltel Meralco (ii) 2010 3 1Piltel Meralco Piltel Meralco (iii) 2010 3 1Piltel Meralco (iv) Piltel Piltel Beacon Electric Beacon Electric 68,800,000 Meralco MPIC MeralcoBeacon Electric MPIC MeralcoMPIC Meralco B. Piltel-Beacon Electric MPIC-Piltel Beacon Electric Piltel-Beacon Electric MPIC-Piltel Beacon Electric Beacon Electric Beacon ElectricMPIC Piltel 50 50 Piltel-Beacon ElectricPiltelPiltel- Beacon Electric MPIC-Piltel Beacon Electric (a) Piltel MPIC (b) (c) Piltel Piltel-Beacon Electric MPIC-Beacon Electric 9
MPIC-Piltel Beacon ElectricMPIC Beacon Electric MPIC 25,000 Beacon Electric (1.00 0.020.17 Piltel MPIC Piltel Beacon Electric 50% C. Piltel Piltel Meralco Meralco Piltel-Beacon Electric MPIC-Piltel Beacon Electric Beacon Electric 14.24 25% 75% 100% Piltel Piltel MeralcoPiltel Piltel Piltel Piltel Beacon ElectricMPIC MPIC Piltel 50 50 MPIC Meralco 14.5% Piltel Beacon Electric Meralco14.1% Beacon Electric Piltel Beacon Electric MPIC Piltel Beacon Electric(5)MPIC MPICBeacon Electric 50% Piltel PiltelBeacon Electric 50%Beacon Electric 10
MPIC Piltel Beacon Electric (5) MPIC Piltel Beacon Electric MPICPiltel Beacon Electric Beacon Electric MPIC Piltel (i) Beacon ElectricMeralco MeralcoBeacon Electric (ii) Beacon ElectricBeacon Electric (iii) Beacon ElectricBeacon Electric (iv) Beacon ElectricMeralcoMeralco (a) Meralco (b) Meralco Meralco(c) Meralco (d) (v) Beacon Electric Beacon Electric (vi) Beacon Electric (vii) (i)(ii) Beacon Electric5 3.90 11
(viii) 1 7.8 (ix) 5 3.90 (x) Beacon Electric (xi) (xii) (xiii) (xiv) Beacon Electric (xv) (xvi) Beacon Electric (xvii) Beacon Electric (xviii) Beacon Electric (xix) Beacon Electric Beacon Electric (1) MPICBeacon Electric (1) PiltelBeacon Electric Beacon ElectricBeacon Electric Beacon Electric (a) (3) Beacon Electric 12
(b) Beacon Electric Beacon Electric Beacon Electric Beacon Electric Beacon Electric Beacon ElectricBeacon Electric Beacon Electric Meralco Beacon Electric MPIC Piltel Meralco MeralcoMeralco MeralcoMeralco Meralco MPIC PiltelMeralco Beacon ElectricMeralcoMeralco MPICPiltel Beacon ElectricMeralco Meralco Meralco Beacon Electric MeralcoMeralco 13
Meralco Beacon Electric MeralcoMeralco Beacon Electric Meralco Beacon ElectricMPIC Piltel Meralco Beacon Electric Beacon Electric 2009 11 10FPHCMPIC FPHCMeralco 6.6% FPHCMPIC 2010 1 29FPHC MPIC 2010 2 28 2010 2 28 2010 2 28 2010 3 1 FPHC MPICBeacon Electric 2010 3 1 FPHC Beacon Electric FPHC Beacon Electric 74,700,000 Meralco Meralco6.6% 14
3006.4950.65 224.14.851 37.835 MPIC FPHCMeralco Beacon Electric2010 3 152010 5 15 Beacon Electric3,000,000 64,935506,494 FPHC MPIC MeralcoPiltel MeralcoPiltel 68,800,000 Meralco Beacon Electric Beacon Electric FPHC FPHCMeralco 2.94 0.0640.496 Meralco Rockwell Land CorporationRockwell Land Corporation Meralco 51% MPIC Beacon Electric 2010 5 15 MPIC Beacon Electric2010 3 15 2010 3 30 (http://www.firstpacific.com) (http:// www.hkexnews.hk) ( MPIC Beacon Electric)MPIC Beacon Electric 2010 3 15MPIC Beacon Electric 15
PiltelMPIC Meralco 25%100% Beacon Electric Meralco14.5% Piltel Beacon Electric Meralco 17.4% PiltelMPIC Meralco Beacon ElectricBeacon ElectricMeralco 34.8% 2009 11 10 2009 11 23 2009 11 10 25 MPICMPIC Beacon Electric Meralco Meralco Beacon ElectricMeralco Beacon Electric Meralco Meralco Meralco Lopez 6.6% MeralcoMeralcoBeacon Electric Piltel MeralcoLopezBeacon Electric/Piltel Meralco 16
Beacon Electric Beacon Electric10 1803.896 30.390 Beacon Electric Beacon ElectricMeralco 1182.554 19.922 621.342 10.468 MPHIMPIC (2) MPICBeacon Electric MPIC Beacon Electric2010 3 1 MPHI MPICMPICMPIC MPHIMPHI661.429 11.143 MPIC 3 4.5 100.002.1616.88 MPIC3.250.070.55 MPIC MPIC MPIC MPIC MPIC3.5% 17
MPIC2010 3 12.85 0.060.4814.0% MPIC 10 MPIC30 140% 90% MPIC 30 60 MPHI MPIC 3103.21 2.2317.3 MPIC Piltel 18
PiltelBeacon Electric MPIC Piltel 50 50 Beacon Electric (i) Piltel(ii) Piltel 297301 Beacon ElectricMPIC Piltel 3.42226.692301303 Piltel Meralco Meralco MPIC/Piltel/PLDTPiltel Piltel PiltelMPIC Piltel Meralco Beacon Electric Beacon Electric Meralco Beacon Electric Meralco Beacon Electric MPIC PiltelMPIC Meralco Beacon ElectricBeacon ElectricMeralco 34.8%Beacon ElectricMeralco MPHIBeacon Electric MPIC MPIC 19
Piltel Piltel Piltel MPHIMPIC MPIC MPICMPIC 55.6% MPIC PiltelMeralco19.8%Piltel 99.5% Smart Communications, Inc.Smart Communications, Inc. PLDT PLDT 26.5% FPHC Meralco 9,337 Meralco 1,000 20
( PFRS ) Meralco 2009 12 31 571.01(12.36 96.404) Meralco 2009 12 31 92.62(1.937 15.111) 60.05(1.256 9.797) Meralco 2008 12 3152 1.164 9.078 286.27 4.888 ( IFRS ) Meralco 2009 12 31582.96 (12.618 98.422) Meralco 2009 12 31 98.12(2.052 16.008 65.761.375 10.728 Meralco 2008 12 3178.75 1.763 13.748) 419.18 7.158 Beacon Electric2010 Beacon Electric MPIC Piltel Beacon ElectricMPIC Piltel 50 50 Beacon ElectricBeacon Electric 3 1 2010 3 309 316 318 21
Albert F. del Rosario MPIC PLDT 1.25%48,197,8660.06% 0.24% 4.03 50 4.03 2010 1 25 4.03 SGV Meralco 2010 3 13 22
1. 1,809.1 4,105.3 3,040.8 2,474.8 353.3 397.4 754.5 293.3 (52.7) (61.4) (94.0) (71.6) 300.6 336.0 660.5 221.7 2.7 0.6 5.1 303.3 336.6 665.6 221.7 (139.0) (135.8) (160.8) (57.2) 164.3 200.8 504.8 164.5 0.51 0.38 0.26 0.13 16.5 12.3 8.2 4.1 0.38 0.12 12.3 3.9 0.77 0.64 0.45 24.7 20.6 14.4 16.5 37.0 41.1 22.4 5.11 6.23 15.72 5.15 5.05 5.93 15.29 5.06 23
7,569.4 7,199.0 5,221.1 2,883.5 4,832.3 4,823.8 3,098.1 1,850.7 1,410.1 1,245.1 991.7 450.1 1,327.0 1,130.1 1,131.3 582.7 24
2. 12 31 2008 2007 (i) 4 4,105.3 3,040.8 (3,103.4) (2,320.7) 1,001.9 720.1 28.7 356.1 (273.9) (254.2) (256.8) (170.7) (144.9) 0.6 5 (150.5) (137.1) 192.9 239.7 6 397.4 754.5 7 (61.4) (94.0) 336.0 660.5 8 0.6 5.1 336.6 665.6 9 200.8 504.8 135.8 160.8 336.6 665.6 10 0.382007 0.26 12.3 8.2 2007 0.38 12.3 0.772007 0.64 24.7 20.6 37.0 41.1 25
12 31 2008 2007 (i) 11 6.23 15.67 0.05 6.23 15.72 5.93 15.24 0.05 5.93 15.29 (i) 2(B) 26
12 31 2008 2007 (i) 12 808.4 784.1 13 744.5 881.5 15 1,202.3 1,304.7 16 675.6 347.2 17 1,538.5 18 3.0 37.0 19 153.2 151.4 20 1.7 6.0 21 38.7 45.0 22 79.8 23 217.1 110.0 5,383.0 3,746.7 24 625.9 600.8 34(C) 12.0 20 56.9 24.1 18 435.5 355.5 25 557.4 494.0 1,687.7 1,474.4 8 128.3 1,816.0 1,474.4 27
12 31 2008 2007 (i) 26 667.4 485.6 27 1,207.0 1,000.1 28 55.8 52.9 29 39.4 17.4 1,969.6 1,556.0 8 106.1 2,075.7 1,556.0 (259.7) (81.6) 5,123.3 3,665.1 30 32.1 32.2 31 902.0 1,048.6 196.0 50.5 1,130.1 1,131.3 32 1,245.1 991.7 2,375.2 2,123.0 27 1,951.7 1,044.5 29 432.4 180.5 21 364.0 310.8 33 6.3 2,748.1 1,542.1 5,123.3 3,665.1 (i) 2(B) 28
12 31 2008 2007 14 996.2 906.2 104.3 996.2 1,010.5 24 45.9 106.3 14(A) 1,889.5 1,781.8 0.1 0.2 1,935.5 1,888.3 14(B) 832.6 814.5 0.6 0.6 833.2 815.1 1,102.3 1,073.2 2,098.5 2,083.7 30 32.1 32.2 1,182.2 1,162.5 344.0 348.1 1,558.3 1,542.8 14(C) 540.2 540.9 2,098.5 2,083.7 29
2007 1 1 32.0 964.2 11.3 51.9 (6.6) (42.7) (2.6) (424.8) 582.7 450.1 1,032.8 2007 84.2 84.2 (29.5) 54.7 3.9 3.9 2.2 6.1 (45.5) (45.5) (3.3) (48.8) 13.4 13.4 13.4 (41.6) 13.4 84.2 56.0 (30.6) 25.4 504.8 504.8 160.8 665.6 (41.6) 13.4 84.2 504.8 560.8 130.2 691.0 0.5 3.3 3.8 3.8 (0.8) 0.3 (0.5) (0.5) 34(A) 203.5 203.5 222.9 222.9 (15.0) (15.0) 30(A) 0.2 7.5 (2.4) 5.3 5.3 30(B) (3.0) (3.0) (3.0) 8.7 8.7 8.7 2006 (3.9) (3.9) (3.9) 2006 (14.4) (14.4) (14.4) 2007 10 (8.2) (8.2) (8.2) 2007 12 31 (i) 32.2 971.7 17.6 10.3 7.3 44.0 (2.3) 50.5 1,131.3 991.7 2,123.0 30
2007 12 31 32.2 971.7 17.6 10.3 7.3 44.2 (2.3) 56.1 1,137.1 992.6 2,129.7 2(B) (0.2) (5.6) (5.8) (0.9) (6.7) (i) 32.2 971.7 17.6 10.3 7.3 44.0 (2.3) 50.5 1,131.3 991.7 2,123.0 2008 (159.9) (159.9) (177.2) (337.1) 1.6 1.6 1.3 2.9 (0.1) (0.1) (0.1) (5.9) (5.9) (5.9) 1.5 (5.9) (159.9) (164.3) (175.9) (340.2) 200.8 200.8 135.8 336.6 1.5 (5.9) (159.9) 200.8 36.5 (40.1) (3.6) (0.3) (0.3) (0.3) 0.2 0.2 0.2 34(A) 0.5 (2.4) (1.9) 295.1 293.2 25.7 25.7 (0.1) 0.1 (27.3) (27.3) 30(A) 0.1 2.4 (0.9) 1.6 1.6 30(B) (0.2) 0.2 (10.1) (10.1) (10.1) 18.0 18.0 18.0 2007 10 (12.3) (12.3) (12.3) 2007 10 (20.6) (20.6) (20.6) 2008 10 (12.3) (12.3) (12.3) 2008 12 31 32.1 974.1 34.7 11.7 1.9 (116.0) (4.4) 196.0 1,130.1 1,245.1 2,375.2 (i) 2(B) 31
2007 1 1 32.0 964.2 10.7 173.8 265.6 1,446.3 112.0 112.0 30(A) 0.2 7.5 (2.4) 5.3 30(B) (3.0) (3.0) 36(A) 8.7 8.7 2006 (3.9) (3.9) 2006 (14.4) (14.4) 2007 10 (8.2) (8.2) 2007 12 31 32.2 971.7 17.0 173.8 348.1 1,542.8 51.2 51.2 30(A) 0.1 2.4 (0.9) 1.6 30(B) (0.2) 0.2 (10.1) (10.1) 36(A) 18.0 18.0 2007 10 (12.3) (12.3) 2007 10 (20.6) (20.6) 2008 10 (12.3) (12.3) 2008 12 31 32.1 974.1 34.1 0.2 173.8 344.0 1,558.3 32
12 31 2008 2007 (i) 397.4 754.5 1.3 6.8 5 185.3 167.8 6 97.7 (22.0) 6 83.2 (20.0) 6 79.2 64.5 43.9 38.7 37.5 (2.3) 17 27.3 36(A) 18.0 8.7 6 7.1 2.8 (192.9) (239.7) (35.7) (10.4) 5 (34.8) (30.7) 6 (18.9) (149.6) 6 (9.8) (206.5) 6 (0.6) (25.0) 6 (0.6) (0.2) 6 (0.5) 6 (2.9) (7.5) 26.2 676.6 360.7 69.1 137.1 (160.3) (116.1) (151.6) (84.4) (ii) 433.8 297.3 40.7 30.3 (196.9) (113.6) 28 (112.4) (83.3) 165.2 130.7 (i) (ii) 2(B) 33
12 31 2008 2007 (i) 15(B) 211.9 155.0 20.8 7.8 34(A) (611.8) (517.6) (163.4) (69.5) 34(B) (140.5) (76.7) (36.8) (67.8) (38.9) (19.0) (96.0) (12.9) 49.1 31.2 2.9 (514.8) (25.6) (898.3) (1,014.3) 1,871.1 1,793.8 62.1 1.6 5.3 (1,050.9) (824.1) (45.2) (26.5) (27.3) (15.0) (10.1) (3.0) (7.7) 264.0 31.3 (6.0) 793.6 1,219.8 60.5 336.2 1 1 600.8 267.4 (35.4) (2.8) 12 31 625.9 600.8 (i) 2(B) 34
1. Canon s Court 22 Victoria Street Hamilton HM12 Bermuda 2. (A) (B) 39 7 11 12 14 (i) 2 (ii) (iii) 19 (iii) (i) (ii) (iii) 397 11 14 12 35
12 12 Maynilad Maynilad Metropolitan Waterworks and Sewerage System (MWSS) 12 Maynilad (i) (ii) MWSS (iii) (iv) MWSS Maynilad DMWC MayniladMaynilad 12 (i) (ii) (iii) (a) 12 31 2008 2007 (382.5) 388.2 (6.7) 5.7 (6.7) (9.7) 3.6 5.0 (5.6) (0.3) (0.2) 7.1 (0.9) 5.7 (6.7) 36
(b) 12 31 2008 2007 0.5 18.7 6.0 (6.1) (6.0) 19.2 (6.1) 10.6 (5.6) 8.6 (0.5) 19.2 (6.1) 0.33 (0.17) 0.33 (0.17) (C) 1 23 27 32 1 39 1 27 1 2 3 7 8 13 15 16 17 18 37
1 23 27 32 1 (a)(b) 39 1 27 27 1 1 2 3 (a) (b) (c)(d) 7 (a)1(b) 1 2(c) 3 38
8 8 14 13 15 1118 16 (a) (i) (ii) (b) (c) 17 (a) (b) (c) 18 1 39 16 (a) 18(b) 39
19 (a) (b) (c) 12 23 39 27 39 5 39 28 36 39 32 728 31 39 327 31 36 38 (a) (b) 39 (a) (b) (c) 40 (a) 40 (b) 40
41 (a) (b) 5 5 (D) (a) 5 41
(b) (c) (d) 12(A) (e) 42
70% (f) 20% (g) (h) 43
(i) (j) (k) (l) 44
(m) (I) (II) (III) (n) (I) 45
(II) (III) (i) (ii) (iii) (IV) (o) 46
(p) (q) (r) (I) 47
(II) (III) (IV) (V) 48
(s) (t) 39 (i) (ii) (i) 49
(ii) (i) (ii) (iii) (i) (ii) (iii) (I) 50
(II) (III) (u) (i) (ii) (iii) (iv) 51
52 (v) (w) (I) (i) (ii) (iii) (II) (III) (IV) (V) (I) (IV) (VI) (IV) (V) (VII) (x) 3. (A) (a) 39 2(D)(t)
53 (b) Maynilad Manila North Tollways Corporation (MNTC) 12 2(D)(h) (B) (a) (b) (c)
(d) (e) (f) (g) (h) 54
(i) (j) 4. 2008 2007 3,896.9 2,980.1 208.4 60.7 4,105.3 3,040.8 103104 55
2008 2008 3,992.5 112.8 4,105.3 359.6 41.5 (46.1) 355.0 (150.5) 194.8 0.5 (1.2) (1.2) 192.9 397.4 (61.4) 336.0 0.6 336.6 3,951.2 1,933.7 14.5 5,899.4 1,043.8 15.4 48.0 95.1 1,202.3 97.3 7,199.0 533.7 677.9 33.7 1,245.3 3,578.5 4,823.8 232.3 68.2 300.5 76.5 29.5 0.5 106.5 97.7 97.7 73.6 3.3 6.3 83.2 5.6 1.9 36.4 43.9 7.1 18.0 25.1 2008 2008 112.8 3,992.5 4,105.3 1,933.7 3,951.2 14.5 5,899.4 1,183.6 15.4 3.3 1,202.3 97.3 7,199.0 68.2 232.3 300.5 56
2007 2007 3,040.3 0.5 3,040.8 410.8 38.3 202.8 651.9 (137.1) 209.2 (0.3) 30.8 239.7 754.5 (94.0) 660.5 5.1 665.6 3,495.5 150.4 195.4 3,841.3 1,078.9 2.3 223.5 1,304.7 75.1 5,221.1 532.2 83.1 74.5 689.8 2,408.3 3,098.1 104.5 1.6 0.2 106.3 63.4 0.7 0.4 64.5 35.8 2.9 38.7 2.8 12.3 15.1 2007 2007 0.5 3,040.3 3,040.8 150.4 3,495.5 195.4 3,841.3 1,296.7 2.3 5.7 1,304.7 75.1 5,221.1 1.6 104.5 0.2 106.3 57
5. 2008 2007 5 163.6 159.7 5 21.7 8.1 185.3 167.8 (34.8) (30.7) 150.5 137.1 6. 2008 2007 (i) (2,470.1) (1,886.8) 36(A) (347.3) (280.7) 13 (97.7) 22.0 (96.7) (28.0) 9 (83.2) 20.0 12 (79.2) (64.5) (ii) (36.4) (2.9) (iii) 18(C) (7.0) (2.5) (ii) 16 (0.5) (16.7) (ii) (12.4) (ii) 12 (4.2) 17 (27.3) (8.6) (10.1) (3.6) (0.4) 19 (7.1) (2.8) (2.1) (1.9) (0.6) (0.6) 18.9 149.6 9.8 206.5 0.6 25.0 0.6 0.2 0.5 2.9 (i) (ii) (iii) 58
7. 2008 2007 28 121.6 96.5 21 (60.2) (2.5) 61.4 94.0 2008 2007 94.9 60.4 (1.2) 47.5 93.7 107.9 2008 2007 % % 397.4 754.5 140.6 35.4 261.4 34.6 6.0 1.5 16.3 2.2 (32.5) (8.2) (109.6) (14.5) (32.8) (8.3) (92.7) (12.2) (19.9) (4.9) 18.6 2.4 61.4 15.5 94.0 12.5 59
8. MPIC MPIC Landco Pacific Corporation (Landco) 21.0% MPIC Landco51.0%30.0% Landco Landco (A) Landco 2008 2007 27.7 34.2 (29.4) (31.4) 2.8 4.1 0.2 (0.1) 1.3 6.8 (0.7) (1.7) 0.6 5.1 (B) Landco 2008 12 2.8 3.9 21 9.3 56.1 51.0 5.2 128.3 (68.9) (16.5) (15.7) 21 (5.0) (106.1) 22.2 2008 0.1 60
(C) Landco 2008 2007 (21.3) (2.6) 1.0 (7.9) 21.1 8.6 0.8 (1.9) 9. PLDT 2008 2007 6 (83.2) 20.0 (17.7) 14.3 (100.9) 34.3 54.0 (9.3) (46.9) 25.0 (i) Indofood (ii) PLDT (iii)mpicmaynilad MDI (iv)indofood (v)mpic Philex PLDT PLDTIndofood 61
10. 2008 2007 2008 2007 0.38 0.26 12.3 8.2 0.38 12.3 0.77 0.64 24.7 20.6 1.15 1.28 37.0 41.1 11. (i) (a) DMWC (b) (ii) MPIC 62
12. 2008 1 1 316.2 934.2 1,250.4 (46.3) (152.4) (198.7) 9.0 151.0 160.0 34(A) 30.2 62.5 92.7 (14.1) (16.7) (30.8) 8(B) (i) (5.2) (2.1) (7.3) 2008 12 31 289.8 976.5 1,266.3 2008 1 1 86.5 379.8 466.3 (13.3) (59.2) (72.5) 6 14.7 64.5 79.2 (1.9) (8.7) (10.6) 8(B) (i) (1.3) (3.2) (4.5) 2008 12 31 84.7 373.2 457.9 2008 12 31 205.1 603.3 808.4 (i) 2007 1 1 280.1 853.0 1,133.1 (15.0) (38.1) (53.1) 29.1 40.4 69.5 34(A) 23.7 85.0 108.7 (1.7) (6.1) (7.8) 2007 12 31 316.2 934.2 1,250.4 2007 1 1 76.5 339.8 416.3 (3.3) (15.2) (18.5) 6 13.3 51.2 64.5 6 4.2 4.2 (0.2) (0.2) 2007 12 31 86.5 379.8 466.3 2007 12 31 229.7 554.4 784.1 63
(A) 2.5% 20.0% 2.5% 20.0% 2.5% 50.0% (B) (C) 27(E) 13. 2008 2007 1 1 881.5 275.0 (121.6) (29.3) 76.7 36.8 34(A) 5.6 577.0 6 (97.7) 22.0 12 31 744.5 881.5 2008 2007 124,169 118,029 58,944 43,427 17,873 18,956 4,537 3,048 7,044 2,800 761 722 213,328 186,982 (A) Indofood 1 64
(a) (b) (c) (d) (e) Indofood 19.3%18.1% 18.2% 17.7%Indofood 1 (B) (C) Indofood 27(E) 14. 2008 2007 1,176.6 1,176.6 (180.4) (270.4) 996.2 906.2 (A) (B) (C) (D) 7.3% 8.3% 6.8% 5.0% 2.9% 7.1% 7.1% 103104 65
15. 2008 2007 2008 2007 2008 2007 1,983.0 1,785.9 1,983.0 1,785.9 102.5 56.9 2.7 63.4 105.2 120.3 31 (884.8) (750.1) (1.1) 46.4 (885.9) (703.7) (2.1) 104.3 102.2 1,200.7 1,090.6 1.6 214.1 1,202.3 1,304.7 (A) (B) (C) (D) (E) (F) PLDT Philex103104 PLDT PLDT PLDT PLDT PLDTPLDT PhilexPhilex PhilexTuba Padcal Philex ATR Kim-Eng Capital Partners Inc. Philex Padcal Boyongan Philex 12.0% 66
(G) PLDT Philex PLDT Philex (i) 2008 2007 2008 3,295.3 3,088.3 2.1 2,121.2 1,724.4 (3.6) 1,564.5 1,459.1 (4.1) 720.9 832.6 (2.7) 1,389.6 1,192.1 260.6 3,931.7 4,613.7 360.2 5,321.3 5,805.8 620.8 (1,377.4) (1,165.6) (123.7) (1,805.6) (2,004.3) (100.7) (3,183.0) (3,169.9) (224.4) (30.2) (33.9) (31.8) 12 31 2,108.1 2,602.0 364.6 (i) Philex Philex (H) Prime Media Holdings Inc. 67
16. 2008 2007 1 1 347.2 34.8 (25.2) (9.6) 34(A) 354.1 335.1 3.6 6 (0.5) (16.7) 12 31 675.6 347.2 (A) (B) (a) Indofood (b) MPIC Indofood Indofood MPIC Indofood MPIC Indofood 15.7% 20.6%12.8% 23.7% MPIC9.2% Indofood 5.0% Indofood 5.0% MPIC 68
17. MPIC First Philippine Infrastructure Inc.(FPII) FPII 2008 1 1 34(A) 1,199.0 346.0 1,545.0 (44.7) (44.7) 63.8 63.8 2008 12 31 1,218.1 346.0 1,564.1 2008 1 1 6 27.3 27.3 (1.7) (1.7) 2008 12 31 25.6 25.6 2008 12 31 1,192.5 346.0 1,538.5 (A) (a) MayniladMWSS (b)mntc (NLEX) 1 2 3 Maynilad MWSS MWSS MWSS Maynilad MayniladMWSS Maynilad MWSS Maynilad (a) (b) (c) Maynilad Maynilad 69
MNTCFirst Philippine Infrastructure Development Corporation (FPIDC) Philippine National Construction Corporation (PNCC) PNCC MNTCNLEX NLEX PNCCMNTC STOAPNCC MNTC MNTC STOA NLEX STOA MNTC PNCC MNTC (B) (C) (D) PT Indolakto (Indolakto) 15 29 20 18. 2008 2007 258.1 263.3 120.6 100.8 59.8 28.4 438.5 392.5 3.0 37.0 435.5 355.5 438.5 392.5 (A) 10.5% 9.9% 11.7%12.2% 70
(B) 2008 2007 0 30 204.3 218.6 31 60 12.0 4.8 61 90 6.7 5.5 90 35.1 34.4 258.1 263.3 2008 2007 234.5 225.2 0 30 9.4 6.0 31 60 6.2 5.5 61 90 7.1 13.8 90 0.9 12.8 258.1 263.3 (C) 2008 2007 1 1 (4.1) (1.8) 0.6 0.2 6 (7.0) (2.5) 12 31 (10.5) (4.1) (D) (E) (F) IndofoodMPIC (a) (b) Tollway Management Corporation (TMC) (MNTC) 27(E) 71
19. 2008 2007 1 1 151.4 48.4 (15.8) (4.1) 34(A) 29.7 112.9 2.3 6 (7.1) (2.8) 158.2 156.7 (5.0) (5.3) 12 31 153.2 151.4 2008 2007 10 50 151.0 153.4 10 7.2 3.3 158.2 156.7 20. 2008 2007 23.8 24.4 14.0% 2007 14.0% 2014 10 1 2007 2014 10 1 0.3 0.4 32.8 3.0 1.7 2.3 58.6 30.1 1.7 6.0 56.9 24.1 58.6 30.1 72
21. 2008 1 1 7.6 1.3 22.3 13.8 45.0 (1.4) (0.2) (2.3) (2.2) (6.1) 34(A) 4.7 13.3 18.0 7 3.0 0.9 (7.7) (10.5) (14.3) 28 5.4 5.4 8(B) (i) (9.3) (9.3) 2008 12 31 9.2 2.0 17.0 10.5 38.7 (i) 2007 1 1 2.4 0.4 4.9 12.6 20.3 (0.1) (0.7) 0.5 (0.3) 34(A) 5.3 0.1 5.4 7 5.3 0.9 12.8 (1.4) 17.6 28 2.0 2.0 2007 12 31 7.6 1.3 22.3 13.8 45.0 2008 1 1 (184.3) (103.1) (22.0) (1.4) (310.8) 21.8 11.6 2.1 14.9 50.4 34(A) (11.7) (86.5) (79.0) (177.2) 7 18.3 24.5 (2.4) 33.4 73.8 28 (5.2) (5.2) 8(B) (i) 5.0 5.0 2008 12 31 (155.9) (86.5) (67.0) (22.3) (32.3) (364.0) (i) 73
2007 1 1 (96.6) (60.6) (4.3) (1.8) (163.3) 4.8 5.7 3.9 14.4 34(A) (93.3) (41.6) (8.9) (143.8) 7 0.8 (6.6) (19.2) 8.2 (16.8) 28 1.5 (2.8) (1.3) 2007 12 31 (184.3) (103.1) (22.0) (1.4) (310.8) 10% 15% 22. PLDT PLDT 74
23. 2008 2007 96.4 34.2 31.8 0.3 7.5 5.6 7.2 9.0 74.2 60.9 217.1 110.0 Indofood MNTC Indofood Indofood Indofood 24. 2008 2007 2008 2007 478.1 492.1 34.5 0.1 147.8 108.7 11.4 106.2 625.9 600.8 45.9 106.3 25. 2008 2007 389.9 281.5 6.1 6.3 161.4 154.9 51.3 557.4 494.0 (A) (B) 27(E) 75
26. 2008 2007 233.4 213.0 287.0 140.9 147.0 131.7 667.4 485.6 2008 2007 0 30 220.7 189.4 31 60 8.5 2.0 61 90 2.6 5.9 90 1.6 15.7 233.4 213.0 27. %) 2008 2007 5.0 17.7 (2007 5.9 11.0) 2009 (2007 2008) (A) 1,115.7 819.6 2.5 12.5 (2007 2.5 13.5) 2009 (2007 2008) (B) 91.3 180.5 1,207.0 1,000.1 5.0 17.7 (2007 7.3 11.0) 2010 2018 (2007 2009 2013) (C) 1,770.1 722.4 10.0 (2007 7.8 18.3) 2010 2012 (2007 2009 2010) (D) 181.6 322.1 1,951.7 1,044.5 3,158.7 2,044.6 76
2008 2007 2008 2007 2008 2007 1 1,115.7 819.6 91.3 180.5 1,207.0 1,000.1 12 110.4 64.0 105.8 110.4 169.8 25 1,129.7 608.9 181.6 216.3 1,311.3 825.2 5 530.0 49.5 530.0 49.5 2,885.8 1,542.0 272.9 502.6 3,158.7 2,044.6 5 2,297.3 1,246.0 272.9 502.6 2,570.2 1,748.6 5 588.5 296.0 588.5 296.0 2,885.8 1,542.0 272.9 502.6 3,158.7 2,044.6 2008 2007 1,752.4 934.1 924.0 1,026.6 482.3 83.9 3,158.7 2,044.6 2008 2007 2,479.7 1,552.6 679.0 492.0 3,158.7 2,044.6 77
2008 2007 2008 2007 1,770.1 722.4 1,777.0 731.3 181.6 322.1 155.3 332.9 1,951.7 1,044.5 1,932.3 1,064.2 5.0% 17.7%5.9% 10.0% (A) (a) (b) PLDT 3.3% (LIBOR) Philex 20.1%MPIC 8.5% LIBOR (B) Indofood 12.5% (C) (a) (b) PLDT 1.4%1.1% LIBOR PLDT 1.2% 1.0% LIBOR 78
(c) (d) (e) PLDT 1.1% 1.1% LIBOR PLDT 6.7% 6.6% LIBOR PLDT 3.9% 3.9% LIBOR (D) Indofood 10% (E) PLDT 17.6% 13.7% MPIC 8.5% Philex 20.1% (F) Metro Pacific Corporation Metro Pacific Metro Pacific Metro Pacific Metro Pacific 79
28. 2008 2007 1 1 52.9 23.1 (7.2) (1.7) 34(A) 0.7 17.6 7 121.6 96.5 21 0.2 0.7 168.2 136.2 (112.4) (83.3) 12 31 55.8 52.9 29. 2008 2007 1 1 152.4 8.3 37.2 197.9 108.7 (21.9) (17.7) (6.2) (45.8) (3.0) 0.6 2.1 4.8 7.5 59.9 34(A) 11.1 276.8 102.3 390.2 37.2 (4.5) (9.8) (63.7) (78.0) (4.9) 12 31 137.7 259.7 74.4 471.8 197.9 19.0 20.4 39.4 17.4 137.7 240.7 54.0 432.4 180.5 137.7 259.7 74.4 471.8 197.9 MayniladMWSS Maynilad Indofood MNTC PLDT 80
30. 2008 2007 5,000,000,000 2007 5,000,000,000 1 50.0 50.0 1 1 32.2 32.0 0.1 0.2 (0.2) 12 31 3,213,377,003 2007 3,224,143,003 1 32.1 32.2 (A) (B) 1.76 1.76 1 37(D)(a) 2008 5 3,320,000 5.50 5.20 17.7 2.3 2008 6 3,152,000 4.99 4.83 15.6 2.0 2008 7 2,226,000 4.62 4.24 10.0 1.3 2008 9 4,392,000 4.50 3.90 18.0 2.3 2008 10 4,736,000 3.88 2.20 16.9 2.2 17,826,000 78.2 10.1 81
31. 2008 2007 PLDT (27.2) 51.0 MPIC (15.4) 6.6 Indofood (75.5) (17.4) Philex 3.0 (0.9) 4.0 (116.0) 44.2 2008 2007 2008 2007 2008 2007 (861.8) (808.5) (0.5) 30.6 (862.3) (777.9) (24.4) 51.1 (0.6) 15.8 (25.0) 66.9 1.4 7.3 1.4 7.3 15 (884.8) (750.1) (1.1) 46.4 (885.9) (703.7) 32. 2008 2007 Indofood 1,060.7 949.9 MPIC 184.4 41.8 1,245.1 991.7 33. 82
34. (A) 2007 Indofood PT Perusahaan Perkebunan MPIC Indofood London DMWC MPIC PT Indofood Sumatra FPII Lajuperdana Drayton 2008 2008 2007 Indah (LPI) 107.9 242.2 41.0 351.5 5.9 748.5 573.6 100.3 100.3 21.1 21.1 9.5 9.5 IndoAgri 132.1 229.3 251.7 41.0 351.5 5.9 879.4 705.7 12 11.6 2.2 40.9 36.0 2.0 92.7 108.7 82.8 80.8 13 4.3 1.3 5.6 577.0 5.9 198.1 14.3 14.3 13.7 17 853.7 345.3 346.0 1,545.0 1,404.0 6.1 6.1 14.9 6.1 14.9 19 20.0 8.6 1.1 29.7 112.9 11.6 54.0 21 11.3 4.3 2.1 0.3 18.0 5.4 3.7 0.2 15.1 33.4 3.1 5.3 56.9 9.5 57.1 9.5 61.9 37.9 34.8 1.1 1.0 136.7 56.0 136.7 56.0 12.0 12.0 12.0 9.5 9.5 9.5 1.2 1.2 1.2 23.2 2.9 4.2 35.3 0.1 65.7 17.8 65.7 17.8 0.6 0.6 0.5 48.8 0.1 50.6 19.9 50.6 19.9 2.2 2.2 (147.0) (19.7) (16.8) (61.2) (5.2) (249.9) (59.2) (249.7) (59.2) (95.0) (95.0) (95.0) (50.0) (13.6) (0.3) (16.0) (79.9) (27.5) (79.9) (27.5) (22.5) (3.9) (26.4) (26.4) 28 (0.1) (0.6) (0.7) (17.6) (0.7) (17.6) (179.1) (21.2) (6.2) (206.5) (62.7) (206.5) (62.7) 29 (345.0) (40.1) (5.1) (390.2) (37.2) (340.9) (19.7) 21 (65.3) (13.9) (6.7) (91.0) (0.3) (177.2) (143.8) (131.9) (8.2) 266.8 186.2 61.7 300.3 5.4 820.4 574.1 729.6 256.3 (123.3) (52.7) (24.8) (94.3) (295.1) (203.5) 143.5 133.5 36.9 206.0 5.4 525.3 370.6 16 85.8 118.2 (i) 4.1 145.5 0.5 354.1 335.1 (46.0) (204.3) (6.2) (350.4) (4.9) (611.8) (517.6) (i) 83
MPIC (i) Ashmore Investment Management LimitedAshmore Funds DMWC(ii) DMWC MPIC DMWC 55.4%DMWC MPICMPIC DMWC MPIC DMCI Holdings Inc.DMWC MPIC DMWC 50.0% 55.4% MPIC First Philippine Infrastructure Inc. (FPII) 99.8% FPII MNTC 67.1%MNTC NLEX IndofoodPT Salim Ivomas Pratama (SIMP) PT Lajuperdana Indah (LPI) 60.0%LPI Indofood Drayton Pte Ltd (Drayton) Drayton Drayton Drayton Indolakto 68.6%Indolakto (B) Philex 20.1%MPIC Davao Doctors Hospital 34.0% (C) Maynilad (D) PLDT 0.1% MPIC 96.6%MetroPacific Corporation 84
35. (A) 2008 2007 548.2 185.6 6.3 41.9 554.5 227.5 Indofood Maynilad MNTC (B) 2008 2007 1 2.8 1.9 2 5 1.6 1.9 5 1.8 3.2 6.2 7.0 1 0.1 0.3 2 5 0.1 0.3 5 0.1 0.8 0.3 1.4 6.5 8.4 (C) Indofood 85
36. (A) 2008 2007 209.6 179.7 44.3 28.5 29.5 41.4 35.1 14.1 10.8 8.3 18.0 8.7 6 347.3 280.7 65,015 51,722 37(A) (B) (a) 17,88419,351 10% 10% (b) 2,615753 PT Sentra Jasa Aktuaria Expert in Life Insurance in Indonesia Actuarial Advisers Inc. Institutional Synergy Inc FASP 59.5% 57.3% 86
45,95342,291 PT Sentra Jasa Aktuaria PT Jasa Aktuaria Praptasentosa Gunajas Expert in Life Insurance in Indonesia (I) 2008 2007 (18.5) (125.8) (144.3) (154.9) 11.0 11.0 6.3 (7.5) (125.8) (133.3) (148.6) (II) 2008 2007 1 1 (11.0) (143.9) (154.9) (67.2) 2.1 20.4 22.5 3.1 (1.8) (10.5) (12.3) (8.1) (1.0) (17.8) (18.8) (8.8) 4.2 22.0 26.2 (41.3) (12.8) (5.3) (18.1) (37.2) 1.8 9.3 11.1 4.6 12 31 (18.5) (125.8) (144.3) (154.9) (III) 2008 2007 1 1 6.3 6.8 (1.4) (0.2) 0.5 0.9 (0.6) (0.8) 1.8 0.1 7.0 (1.8) (1.3) 12 31 11.0 6.3 87
(IV) 2008 2007 52% 1% 48% 99% (V) 2008 2007 2006 2005 2004 (18.5) (11.0) (10.5) (11.0) (9.0) 11.0 6.3 6.8 6.2 6.4 (7.5) (4.7) (3.7) (4.8) (2.6) (4.1) (0.7) (0.1) (2.3) (1.0) (0.6) (VI) 2008 2007 1.8 10.5 12.3 8.1 1.0 17.8 18.8 8.8 (0.5) (0.5) (0.9) (3.6) (22.0) (25.6) 41.3 (i) (1.3) 6.3 5.0 57.3 7% 13% (i) (VII) 2008 2007 11% 9% 8% 8% 9% 9% 9% 9% 17.8 18.9 (VIII) (C) 161B 88
37. (A) 2008 2008 (i) (ii) (iii) 1,152 30 1,182 2,080 460 142 1,559 4,028 8,269 1,242 135 1,595 120 2,499 5,591 892 23 2 446 2,117 3,480 Albert F. del Rosario 720 160 880 40 40 Ibrahim Risjad 720 89 809 Napoleon L. Nazareno 244 119 19 146 91 619 Graham L. Pickles 720 115 835 CBE 720 90 810 KBE 720 45 77 842 5,610 737 1,758 2,271 12,244 660 77 23,357 89
2007 2007 (i) (ii) (iii) 464 464 1,610 419 96 2,018 1,854 5,997 1,035 149 1,073 1,284 3,541 947 21 2 756 1,062 2,788 Albert F. del Rosario 342 125 467 Ibrahim Risjad 342 31 373 Graham L. Pickles 342 115 457 CBE 342 120 462 KBE 342 75 77 494 4,056 589 1,171 2,774 5,910 466 77 15,043 (i) (ii) (iii) PLDT (B) 2008 2007 0.8 0.7 0.2 0.3 2.1 1.1 3.1 2.1 90
2008 2007 893,001957,000 1 1,149,0011,213,000 1 1,469,0011,533,000 1 1,597,0011,661,000 1 2 2 (C) 2008 2007 22.5 15.8 1.9 2.0 9.1 7.4 18.0 8.7 0.6 0.5 52.1 34.4 91
(D) (a) 2008 2008 1 1 12 31 31,800,000 31,800,000 1.76 1.76 2004 6 1 2008 12 2005 6 2014 5 30,200,000 30,200,000 5.33 5.33 2007 9 5 2012 9 2008 9 2017 9 10,620,000 (7,060,000) 3,560,000 1.76 1.76 5.72 2004 6 1 2008 12 2005 6 2014 5 18,200,000 18,200,000 5.33 5.33 2007 9 5 2012 9 2008 9 2017 9 14,000,000 14,000,000 1.76 1.76 2004 6 1 2008 12 2005 6 2014 5 15,500,000 15,500,000 5.33 5.33 2007 9 5 2012 9 2008 9 2017 9 Albert F.del Rosario 2,840,000 2,840,000 1.76 1.76 2004 6 1 2005 6 2005 6 2014 5 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 2,840,000 2,840,000 1.76 1.76 2004 6 1 2005 6 2005 6 2014 5 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 Graham L. Pickles 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 1,340,000 1,340,000 1.76 1.76 2004 6 1 2005 6 2005 6 2014 5 CBE 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 KBE 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 29,032,000 29,032,000 1.76 1.76 2004 6 1 2008 12 2005 6 2014 5 4,500,000 4,500,000 3.275 3.25 2006 6 7 2010 12 2007 6 2016 6 42,220,000 42,220,000 5.33 5.33 2007 9 5 2012 9 2008 9 2017 9 218,892,000 (7,060,000) 211,832,000 92
2007 2007 1 1 12 31 31,800,000 31,800,000 1.76 1.76 2004 6 1 2008 12 2005 6 2014 5 30,200,000 30,200,000 5.33 5.33 2007 9 5 2012 9 2008 9 2017 9 17,680,000 (7,060,000) 10,620,000 1.76 1.76 5.72 2004 6 1 2008 12 2005 6 2014 5 18,200,000 18,200,000 5.33 5.33 2007 9 5 2012 9 2008 9 2017 9 24,500,000 (10,500,000) 14,000,000 1.76 1.76 5.80-6.00 2004 6 1 2008 12 2005 6 2014 5 15,500,000 15,500,000 5.33 5.33 2007 9 5 2012 9 2008 9 2017 9 Albert F. del Rosario 2,840,000 2,840,000 1.76 1.76 2004 6 1 2005 6 2005 6 2014 5 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 2,840,000 2,840,000 1.76 1.76 2004 6 1 2005 6 2005 6 2014 5 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 Graham L. Pickles 1,000,000 (1,000,000) 1.76 1.76 5.18-5.39 2004 6 1 2005 6 2005 6 2014 5 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 2,840,000 (1,500,000) 1,340,000 1.76 1.76 5.60-5.96 2004 6 1 2005 6 2005 6 2014 5 CBE 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 KBE 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 32,286,000 (3,254,000) 29,032,000 1.76 1.76 4.42-6.05 2004 6 1 2008 12 2005 6 2014 5 4,500,000 4,500,000 3.275 3.25 2006 6 7 2010 12 2007 6 2016 6 42,220,000 42,220,000 5.33 5.33 2007 9 5 2012 9 2008 9 2017 9 120,286,000 121,920,000 (23,314,000) 218,892,000 17 10% 1% 93
94 (i) (ii) (iii) 134,586,000 0.849 1.76 1.76 55% 10 1% 4.06% 6.61 75% 4,500,000 1.554 3.25 3.275 50% 10 1% 4.71% 6.79 100%
95 121,920,000 2.596 5.33 5.33 45% 10 1% 4.40% 7.60 150% 2(D)(r)(III) (b) MPIC MPIC MPIC MPICMPIC MPIC MPIC MPIC 10% 1% MPIC (i)mpic (ii)mpic MPIC (iii)mpic MPICMPIC MPIC(i) MPIC MPIC(ii) MPICMPIC MPIC
38. (A) (B) (C) (i) DMWC (ii) DMWC MayniladDMWC DMWC1 DMWC DMWC IndofoodSIMP LPI60.0% 34(A) ALBV Smart ALBV Smart Smart1%1% (D) (E) SIMP Lyminton Pte. Ltd PT Mulia Abadi Lestari PT Sarana Inti Pramata PT Mitra Inti Sejati Plantation 30% 14A Indofood Indofood 96
12 31 2008 2007 24.5 28.1 60.8 48.6 41.5 43.2 14.0 8.8 0.9 0.9 7.5 4.6 2.8 2.7 1.2 1.3 0.4 0.3 Indofood 2%3% 2%3% 12 31 2008 2007 2.6 3.4 13.3 8.7 0.4 0.2 8.3 8.8 3.6 6.3 2.3 1.2 19.2 5.9 5.8 Indofood 14A (F) Maynilad DMCI DMCIMaynilad14A 97
39. 2008 2007 102.2 102.2 3.0 3.0 37.0 37.0 1.7 1.7 6.0 6.0 79.8 79.8 60.6 60.6 36.8 36.8 625.9 625.9 600.8 600.8 12.0 12.0 56.9 56.9 24.1 24.1 375.7 375.7 327.1 327.1 1,077.2 58.6 1,135.8 79.8 1,103.9 30.1 1,213.8 2008 2007 667.4 485.6 485.6 1,207.0 1,000.1 1,000.1 18.9 1,951.7 1,044.5 1,044.5 140.3 6.3 6.3 3,985.3 2,530.2 6.3 2,536.5 2008 2007 104.3 45.9 106.3 1,889.5 1,781.8 0.1 0.2 1,935.5 1,992.6 98
2008 2007 832.6 814.5 0.6 0.6 540.2 540.9 1,373.4 1,356.0 40. (A) 2008 2007 1,207.0 1,000.1 1,951.7 1,044.5 (625.9) (600.8) (12.0) 2,520.8 1,443.8 1,130.1 1,131.3 1,245.1 991.7 2,375.2 2,123.0 1.06 0.68 99
(B) 2(D)(u) (a) (I) 39 2008 2007 (%) (%) (5.4) (11.4) (0.9) (0.3) (4.0) (2.4) (3.0) (II) 100
(b) 60TMC (c) 2008 2007 2008 2007 2008 2007 2008 2007 2008 2007 1 667.4 485.6 1,509.4 1,195.6 30.0 2,206.8 1,681.2 12 298.9 270.2 24.5 323.4 270.2 25 1,851.5 1,086.8 58.0 6.3 1,909.5 1,093.1 5 692.2 56.9 77.1 769.3 56.9 667.4 485.6 4,352.0 2,609.5 189.6 6.3 5,209.0 3,101.4 (d) 21.5%24.1% 101
2008 2007 50 (4.8) (300) 16.6 (300) 0.4 (50) 0.6 (300) 5.1 100 (0.2) 41. 2(B) 12 8 42. 102
Philippine Long Distance Telephone Company PLDT (PSE TEL NYSE PHI) PLDTPLDT Smart Communications, Inc. PLDTePLDT PLDT 5 26.4% PLDT www.pldt.com Metro Pacific Investments Corporation MPIC (PSE MPI) 1 97.3% MPIC www.mpic.com.ph 103
PT Indofood Sukses Makmur Tbk Indofood (IDX INDF) Indofood Bogasar i Indofood Indofood Indofood 100 50.1% Indofood www.indofood.co.id Philex Mining Corporation Philex PSE PX 1 20.1% Philex www.philexmining.com.ph 104
3. 6 30 6 2009 2008 (i) 2 1,809.1 2,044.8 (1,279.8) (1,503.6) 529.3 541.2 9.8 (137.8) (165.7) (138.5) (113.0) 96.9 81.2 3 (110.7) (60.6) 114.1 113.6 4 353.3 406.5 5 (52.7) (103.3) 300.6 303.2 6 2.7 2.3 303.3 305.5 7 164.3 156.8 139.0 148.7 105 303.3 305.5 8 0.512008 0.38 16.5 12.3 9 5.01 4.81 0.10 0.05 5.11 4.86 4.95 4.62 0.10 0.04 (i) 5.05 4.66 21
6 30 6 2009 2008 303.3 305.5 89.6 (35.5) (0.3) 28.3 (5.6) (0.1) 0.7 (2.1) (7.5) 0.1 5.0 121.6 (49.0) 424.9 256.5 214.0 94.5 210.9 162.0 424.9 256.5 106
2009 2008 6 30 12 31 10 934.5 808.4 889.4 744.5 11 1,184.8 1,202.3 718.5 675.6 12 1,546.7 1,538.5 4.3 3.0 160.7 153.2 91.5 1.7 46.2 38.7 270.2 217.1 5,846.8 5,383.0 616.5 625.9 13 30.8 12.0 55.7 56.9 14 408.3 435.5 602.9 557.4 8.4 1,722.6 1,687.7 6 128.3 1,722.6 1,816.0 107
2009 2008 6 30 12 31 15 631.5 667.4 1,068.2 1,207.0 23.4 55.8 16 81.6 39.4 1,804.7 1,969.6 6 106.1 108 1,804.7 2,075.7 (82.1) (259.7) 5,764.7 5,123.3 32.2 32.1 335.6 196.0 959.2 902.0 1,327.0 1,130.1 1,410.1 1,245.1 2,737.1 2,375.2 2,256.5 1,951.7 16 405.1 432.4 366.0 364.0 3,027.6 2,748.1 5,764.7 5,123.3
2008 1 1 32.2 971.7 17.6 44.1 10.3 11.0 (3.7) (2.3) 55.6 1,136.5 992.6 2,129.1 (51.8) (3.0) (11.1) 3.6 156.8 94.5 162.0 256.5 0.1 2.4 (0.9) 1.6 1.6 (0.1) 0.1 (4.3) (4.3) (4.3) 11.1 11.1 11.1 2007 (32.9) (32.9) (32.9) (19.2) (19.2) 2008 6 30 32.2 974.1 27.8 (7.7) 7.3 (0.1) (0.1) (2.2) 175.2 1,206.5 1,135.4 2,341.9 2009 1 1 32.1 974.1 34.7 (116.0) 11.7 2.1 (0.2) (4.4) 196.0 1,130.1 1,245.1 2,375.2 16.5 29.4 (1.3) 0.1 5.0 164.3 214.0 210.9 424.9 0.1 1.2 (0.4) 0.9 0.9 6.8 6.8 6.8 2008 (24.7) (24.7) (24.7) (32.9) (32.9) (6.6) (6.6) (0.1) (0.1) (6.4) (6.5) 2009 6 30 32.2 975.3 41.1 (99.5) 41.1 0.8 (0.1) 0.5 335.6 1,327.0 1,410.1 2,737.1 109
6 30 6 2009 2008 (i) 353.3 406.5 1.7 2.8 3 123.3 79.4 4 44.1 4 40.8 42.2 5.7 11.1 4 2.8 3.2 (114.1) (113.6) 4 (53.8) (69.8) 4 (32.0) 1.1 (30.5) (14.1) 3 (12.6) (18.8) (1.1) (0.1) 4 (0.3) (0.5) 4 (9.8) 7.2 5.5 334.5 325.1 (ii) (141.1) (153.7) 193.4 171.4 9.0 17.2 (110.1) (88.2) (100.9) (79.1) (8.6) 21.3 110
6 30 6 2009 2008 (i) 127.3 140.1 1.4 3.9 (111.6) (55.8) (59.3) (36.1) (43.7) (32.6) (38.2) (15.5) (11.8) (8.1) (0.1) 1.9 7.2 (19.0) (4.1) (142.2) (11.9) 187.4 200.6 0.9 1.6 (61.3) (24.7) (32.9) (18.8) (14.2) (0.3) (4.3) 69.0 165.0 (81.8) 174.4 1 1 625.9 600.8 11.1 4.7 6 30 555.2 779.9 616.5 779.9 (61.3) 6 30 555.2 779.9 (i) (ii) 21 111
1. (A) 34 (B) 1 23 32 1 39 1 27 2 7 8 (iii) 9 39 (iv) 13 (i) 15 (v) 16 (i) (ii) (iii) (iv) (v) (vi) (i) (i) (i) (ii) (i) (i) (i) (i) (vi) (vii) (vii) 112
2. 6 30 6 2009 2008 1,624.3 2,003.8 184.8 41.0 1,809.1 2,044.8 129130 113
2009 6 30 6 6 30 2009 156.2 1,652.9 1,809.1 102.9 14.6 2.1 31.8 (23.9) 127.5 1,007.0 54.9 116.1 3.1 3.7 1,184.8 1,765.2 4,450.1 169.3 6,384.6 1,007.0 1,820.1 116.1 4,453.2 173.0 7,569.4 672.3 1,872.0 780.4 3,324.7 534.8 876.7 96.1 1,507.6 1,207.1 2,748.7 876.5 4,832.3 (37.3) (47.4) (0.2) (84.9) 5.4 6.4 0.8 12.6 (38.9) (72.0) (12.4) (123.3) 107.1 3.1 3.9 114.1 23.2 (69.5) (6.4) (52.7) 53.5 186.8 240.3 114
2008 6 30 6 2008 12 31 2,044.8 2,044.8 106.9 1.1 50.6 (32.1) 126.5 1,040.5 48.0 95.1 15.4 3.3 1,202.3 1,940.6 4,039.9 16.2 5,996.7 1,040.5 1,988.6 95.1 4,055.3 19.5 7,199.0 677.7 1,696.6 784.4 3,158.7 745.0 862.7 57.4 1,665.1 1,422.7 2,559.3 841.8 4,823.8 (0.5) (41.4) (0.3) (42.2) 4.6 8.0 6.2 18.8 (4.6) (54.8) (20.0) (79.4) 117.8 (3.9) (0.3) 113.6 3.1 (101.3) (5.1) (103.3) 1.0 108.7 109.7 6 30 6 2009 2008 353.3 406.5 1.7 2.8 7 (23.2) 2.4 4 (53.8) (69.8) (14.9) (17.5) (135.6) (197.9) 127.5 126.5 115
3. 6 30 6 2009 2008 5 99.2 76.8 5 24.3 2.6 (0.2) 123.3 79.4 (12.6) (18.8) 110.7 60.6 4. 6 30 6 2009 2008 (i) (750.8) (1,212.6) (182.7) (182.0) (94.1) (19.7) (44.1) 10 (40.8) (42.2) (ii) (3.9) (4.6) (2.8) (3.2) 53.8 69.8 7 32.0 (1.1) 0.3 0.5 9.8 0.1 (i) (ii) 5. 6 30 6 2009 2008 61.0 87.6 (8.3) 15.7 52.7 103.3 116
6 30 6 2009 2008 42.2 46.5 3.3 30.6 45.5 77.1 6. MPIC MPIC MPICLandco Pacific Corporation (Landco) Landco MPIC Landco 17.0%Landco51.0%34.0% Landco34.0% 7. 6 30 6 2009 2008 4 32.0 (1.1) (8.8) (1.3) 23.2 (2.4) (19.9) (2.4) 3.3 (4.8) Maynilad PLDT 8. 0.51 0.38 117
9. (i) (a) (b) DMWC (ii) MPIC 10. 2009 2008 1 1 808.4 784.1 56.3 15.8 111.6 55.8 4 (40.8) (42.2) (1.0) (3.4) 6 30 934.5 810.1 11. 2009 2008 6 30 12 31 PLDT 1,007.0 1,040.5 Philex 116.1 95.1 MPIC 54.9 48.0 6.8 18.7 1,184.8 1,202.3 118
12. 2009 2008 6 30 12 31 840.3 837.9 345.4 354.6 361.0 346.0 1,546.7 1,538.5 MayniladMetropolitan Waterworks and Sewerage System (MWSS) Manila North Tollways Corporation (MNTC) (NLEX) PT Indolakto 13. 14. 2009 2008 6 30 12 31 0 30 209.8 204.3 31 60 10.0 12.0 61 90 5.7 6.7 90 34.0 35.1 259.5 258.1 Indofood 6030 MPIC (a) 60 (b) Tollways Management Corporation (TMC) 119
15. 2009 2008 6 30 12 31 0 30 163.9 220.7 31 60 5.8 8.5 61 90 1.0 2.6 90 24.6 1.6 195.3 233.4 16. 2009 2008 1 1 259.7 137.7 74.4 471.8 197.9 (2.4) 9.7 (0.7) 6.6 3.2 55.0 16.3 4.3 75.6 21.9 (47.5) (4.9) (14.9) (67.3) (0.7) 6 30 264.8 158.8 63.1 486.7 222.3 64.2 17.4 81.6 17.3 200.6 158.8 45.7 405.1 205.0 264.8 158.8 63.1 486.7 222.3 MayniladMWSS Maynilad Indofood MNTCPLDT 120
17. (A) 2009 2008 6 30 12 31 207.8 548.2 171.7 6.3 379.5 554.5 Indofood Maynillad MNTC (B) Indofood 121
18. (A) 2009 2009 1 1 6 30 31,800,000 31,800,000 1.76 1.76 2004 6 1 2008 12 2005 6 2014 5 30,200,000 30,200,000 5.33 5.33 2007 9 5 2012 9 2008 9 2017 9 3,560,000 (3,560,000) 1.76 1.76 3.77 2004 6 1 2008 12 2005 6 2014 5 18,200,000 18,200,000 5.33 5.33 2007 9 5 2012 9 2008 9 2017 9 14,000,000 14,000,000 1.76 1.76 2004 6 1 2008 12 2005 6 2014 5 15,500,000 15,500,000 5.33 5.33 2007 9 5 2012 9 2008 9 2017 9 Albert F.del Rosario 2,840,000 2,840,000 1.76 1.76 2004 6 1 2005 6 2005 6 2014 5 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 2,840,000 2,840,000 1.76 1.76 2004 6 1 2005 6 2005 6 2014 5 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 Graham L. Pickles 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 CBE 1,340,000 1,340,000 1.76 1.76 2004 6 1 2005 6 2005 6 2014 5 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 KBE 3,160,000 3,160,000 5.33 5.33 2007 9 5 2008 9 2008 9 2017 9 29,032,000 29,032,000 1.76 1.76 2004 6 1 2008 12 2005 6 2014 5 4,500,000 4,500,000 3.275 3.25 2006 6 7 2010 12 2007 6 2016 6 42,220,000 42,220,000 5.33 5.33 2007 9 5 2012 9 2008 9 2017 9 211,832,000 (3,560,000) 208,272,000 147 148 122
(B) MPIC 2009 2009 1 1 6 30 7,500,000 7,500,000 2.12 2.10 2008 12 9 2010 1 2009 1 2013 1 7,500,000 7,500,000 2.73 2.65 2009 3 10 2010 3 2009 3 2013 3 5,000,000 5,000,000 2.12 2.10 2008 12 9 2010 1 2009 1 2013 1 5,000,000 5,000,000 2.73 2.65 2009 3 10 2010 3 2009 3 2013 3 Albert F.del Rosario 2,500,000 2,500,000 2.12 2.10 2008 12 9 2010 1 2009 1 2013 1 2,500,000 2,500,000 2.73 2.65 2009 3 10 2010 3 2009 3 2013 3 46,000,000 (2,250,000) 43,750,000 2.12 2.10 5.60 2008 12 9 2010 1 2009 1 2013 1 47,925,245 (1,250,000) 46,675,245 2.73 2.65 5.60 2009 3 10 2010 3 2009 3 2013 3 61,000,000 62,925,245 (3,500,000) 120,425,245 MPICMPIC MPICMPIC MPIC MPIC MPIC 10% 1% MPIC (i)mpic (ii)mpic (MPIC (iii) MPIC 123
61,000,000MPIC Black- Scholes0.37 2.10 2.12 MPIC 76% 4 6.26% 62,925,245MPIC Black- Scholes0.51 2.65 2.73 MPIC 64% 4 4.53% MPICBlack-Scholes 103 104 2(D)(r)(III) MPICMPIC MPIC (i) MPIC MPIC (ii) MPICMPIC MPIC 124
19. (A) (B) MPIC AB Holdings Corporation (ABHC) Alfred Xerex- Burgos, Jr. (AXB)Landco 49.0%Landco MPIC ABHC LandcoLandco17.0%14A Asia Link B.V. (ALBV) PLDT Smart Communication, Inc. (Smart) ALBV Smart Smart1%1% (C) Indofood Indofood 6 30 6 2009 2008 14.0 12.7 25.1 28.1 19.4 22.9 5.7 5.5 0.5 0.5 2.5 1.8 1.4 1.3 0.5 0.6 0.2 0.2 Indofood 2%2% 2%2% 125
2009 2008 6 30 12 31 4.5 2.6 11.8 13.3 0.2 0.4 10.4 8.3 4.9 3.6 3.5 2.3 21.8 19.2 (D) MPIC Maynilad DMCI Holdings Inc. (DMCI) (MayniladDMWC 44.6% DMCI Maynilad Maynilad (i) DMCI D.M. Consunji, Inc. (Consunji) Consunji Maynilad(ii) DMCI DMCI Project Developers, Inc. (DMCIPD)DMCIPD (Makati City) Maynilad 14A DMCI 6 30 6 2009 2008 0.1 21.2 126
2009 2008 6 30 12 31 5.4 0.1 3.0 (E) MPIC MNTC MPIC TMC TMC 6 30 6 2009 2008 14.3 0.1 0.2 0.2 2009 2008 6 30 12 31 7.7 7.3 6.2 5.6 20. (A) (B) LAWL Pte. Ltd (LAWL) MPIC MPIC97.9%90.3% PLDTPilipino Telephone Corporation (Piltel)First Philippine Utilities Corporation Manila Electric Company (Meralco) 127
21. MPIC(a)PLDT Beneficial Trust Fund (BTF) (b) Crogan Limited (Crogan) Metro Pacific Holdings, Inc. (MPHI) BTF MPHI BTF MPIC BTFMeralcoMeralco 10.17% BTF3.50.073 MPIC MPHI MPIC Crogan Meralco Meralco 2.79% MPHI3.50.073 MPIC MPHI Crogan(a) MPICMeralco Crogan 3.50.073 MPIC (b) MPHI Meralco MPIC MPIC90.3% 73.0% 73.7% Crogan MPIC MPIC BTF MPIC MPIC (a)mpic15% (b) MPIC 3.50.073MPIC 3.5MPIC BTF MPHI BTF MPHI MPIC 1(B)1 8 128
Philippine Long Distance Telephone Company PLDT (PSE: TEL NYSE: PHI) PLDTPLDT Smart Communications, Inc. PLDTePLDT PLDT 5 26.5% PLDT www.pldt.com Metro Pacific Investments Corporation MPIC (PSE: MPI) 1 97.9% MPIC www.mpic.com.ph 129
PT Indofood Sukses Makmur Tbk Indofood (IDX: INDF) Indofood Indofood Agri Resources Ltd PT PP London Sumatra Indonesia Tbk Indofood Bogasari Indofood IndofoodIndofood 100 50.1% Indofood www.indofood.co.id Philex Mining Corporation Philex (PSE: PX) 1 23.1% Philex www.philexmining.com.ph 130
4. 2010 1 31 37.718294.2 19.157149.424 11.92793.0314.59 3.586.17548.165 PLDT 24.3%Philex Mining Corporation 7.9%Metro Pacific Tollways Corporation 99.8% DMCI-MPIC Water Company, Inc. 16.5%Maynilad Water Services, Inc. 9.9% Meralco 10.5% 4.60535.919 3.81 2.9722010 1 31 (a) PT Indofood Sukses Makmur Tbk Indofood 20,000 2.12716.59110.0% 2012 5 (b) Indofood16,000 1.70813.322 13.2% 2014 6 (c) PT Salim Ivomas Pratama SIMP 4,520 4.77 3.72111.65% 2014 11 (d) SIMP2,780 2.93 2.285 11.65% 2014 11 2010 1 31Indofood 6.18 4.82 131
2010 1 31 (i) Beacon Electric Beacon Electric180 3.89620.390(ii) MPICFPHC 1122.42418.909 2010 1 31 5. Piltel 6. 2008 12 31 7. 2008 12 31 2009 9 10 MPIC 143 3.09524.143 MPIC 90.2%61.5%MPIC 4.75 3.705 2009 10 6 MPICMeralco 12.8%182 3.93930.727 MPIC MPIC 54.1% MPICMeralco 12.8%2.5 1.95Meralco 1.7%MPIC Meralco 14.5% 2009 7 PiltelMeralco 19.8% 132
2009 10 8(Philippine Port Authority) MPIC Harbour Centre Port Terminal Inc25 70(Manila North Harbor) 1453.139 24.481 2009 11 5 MPIC FPHC (i) MPIC FPHC 1122.424 18.909 (ii) FPHCMPIC FPHC7.47MeralcoMeralco 6.6%3006.550.6 2009 12204.33 3.379 MPICMPIC55.6% 2008 11 28Philex Mining Corporation Philex20% 2009 Philex 11.6% 1.05 8.192009 12 31 Philex 31.5% Two Rivers Pacific Holdings Corporation Two Rivers 2009 12952.056 16.039 Philex 9.2%Two Rivers 2010 160 1.299 10.13 Government Service Insurance System Philex 5.9%Two RiversPhilex 15.1% 2009 12 21.8752.805 3.40 Philex Meralco 32.16 38.6 2009 2010 1 Indofood PT Indofood CBP Sukses Makmur Indofood CBP2010 2 9 IndofoodIndofood CBP 133
2009 12 31 PLDT 100%2009 12 31 2008 2008 MPIC 2009PLDT Indofood 2010 2008 12 31 2008 12 31 2009 6 30 2008 12 31PLDT MPIC Indofood Philex 8. (a) Beacon ElectricMeralco Beacon ElectricMeralco14.5%Piltel 28.2% Beacon Electric 34.8% 134
(b) Meralco60% 25 2003 6LuzonMetro Manila 9,40025% 50% Meralco 4.727,500 (Gwh) (c) (a) Piltel Meralco 40.9%34.8% Beacon Electric 6.1%Piltel PiltelLopez Meralco 47.5% 2012 11 (d) Piltel 2009 719.8%MPIC 2009 10 14.5%Meralco 2009 12 31 2009 12 31PLDT 26.5% PLDT Piltel 99.5%MPIC 55.6% Meralco 13.3% Meralco 2010 2 222009 601.299 10.13 Meralco 112.38 1.856 Meralco 2009Meralco 50% MeralcoMeralco 135
Meralco 2009 12 31 0.06 2009 12 31 2008 26 5.82 4.539 169% 701.46411.42 (EBITDA) 133 2.78221.698 200820% EBITDA2008 5.75%7.17% 2008 51.05 8.16 1883.93230.671 20083.6% 5.9% 1,849 38.674301.657 1,75639.302 306,553 (Ondoy)PBR (ERC) 2009 12 313.1% 4.7(2008 4.6 1.7% 27,5162009 5 3.3% 3.0%1.8% 2009 8.7% 18.3% 8.61%ERC9.5% PBR ERC 136
2009 ERC11 541.129 8.81 12 2074.48134.948 99.7%8.1% 10.4% 1934.17732.5842009 12 31 0.062008 12 310.35 2009 12 316,112 2008 12 31 2007 40488,100,000 687,100,000 23% 31370,100,000 546,400,000 2007 1,8654,066,700,000 31,720,500,000 5.2% 1,9624,391,200,000 34,251,600,000 9.28% ERC9.5% 20073.2% 27,049 Gwh 4.6% 2.1% 0.4% 2008 62138,800,0001,082,400,000 253532,400,000 4,152,800,000 99.5% 138290,400,000 2,265,200,000 2008 12 31 0.35 2007 12 310.41 137
2008 12 316,050 2007 12 31 2006 138.8271,300,000 2,116,200,000 70.9% 40.488,100,000 687,100,000 2006 ERC 2003 157306,900,0002,393,700,000 2006 1,9083,729,500,000 29,089,900,000 5.2% 2,0074,376,400,000 34,135,600,000 9.99% ERC9.5% 4.6% 26,219Gwh 6.0% 4.2%3.3% 270654,100,000 5,101,700,000 99.3% 141341,600,000 2,664,200,000 2007 12 31 0.41 2007 12 315,990 Meralco28 37 19 Meralco Meralco 138
Meralco20 8 Meralco30 31 34 20102009 2009 12 ERC PBR2010MAP ERC Meralco Meralco 139
Manila Electric Company Meralco 2010 3 13(1)Beacon Electric Asset Holdings, Inc. Beacon Electric Pilipino Telephone Corporation Piltel Meralco Piltel Beacon Electric (2)Beacon Electric 74,700,000 Meralco 2009 2008 2007 12 31 2009 2008 2007 12 31 2009 2008 2007 12 31 Meralco 2009 2008 2007 12 31 2009 2008 2007 12 31 140
Meralco 3.340 2009 2008 2007 12 31 2009 2008 2007 12 31 141
I. 12 31 2009 2008 2007 9 10 18 98,409 95,704 93,696 9 10 3,703 5,149 2,811 11 1,182 2,036 1,608 12 20 10,893 7,963 7,807 13 26 35 3,161 3,792 4,896 29 68 39 33 8,143 8,032 6,724 2 13 15 25 30 31 34 13,362 9,993 16,213 138,921 132,708 133,755 14 30 31 17,068 5,402 4,876 2 13 15 26 28 31 21,294 37,506 33,406 16 1,857 1,648 1,538 8 25 5,558 2,832 5,927 13 17 20 23 30 31 2,470 2,265 1,970 48,247 49,653 47,717 187,168 182,361 181,472 142
12 31 2009 2008 2007 18 11,273 11,038 11,033 (960) 4,566 2,932 2,931 18 19 115 268 152 13 71 47 68 18 19,178 19,833 20,203 11 18 129 298 11 683 682 (14) 18 19,172 14,479 15,794 4,198 4,198 200 58,296 53,606 50,665 3,999 3,934 3,346 62,295 57,540 54,011 143
12 31 2009 2008 2007 9 12 20 28 31 17,234 13,228 14,169 21 25 28 31 25,063 23,443 21,423 5 8 5,330 3,806 5,679 33 12,663 12,793 13,560 29 8,941 12,313 12,953 6 22 34) 7,492 5,743 1,396 2 23 31 2,680 7,866 13 25 26 692 CERA I II 25 3,008 29 5,398 1,328 1,613 82,121 78,342 79,351 24 28 31 513 9,828 10,748 2 5 13 20 21 25 26 28 31 30,039 24,176 30,285 133 2,285 51 2 23 31 9,147 7,925 4,904 9 12 20 28 31 2,920 2,265 2,122 42,752 46,479 48,110 124,873 124,821 127,461 187,168 182,361 181,472 144
12 31 2009 2008 2007-9 10 18) 97,059 93,970 92,290 9 10) 3,703 3,704 2,811 8 11) 3,120 2,238 1,776 12 20) 1,691 1,074 1,074 13) 3,161 3,792 4,896 33) 7,404 7,598 5,813 2 13 17 25 30 31 34) 12,200 9,097 15,449 128,338 121,473 124,109 14 30 31) 15,430 4,023 4,062 2 13 15 26 28 30 31) 19,932 36,653 33,211 16) 1,751 1,525 1,491 13 17 20 23 30 31) 733 996 1,361 37,846 43,197 40,125 166,184 164,670 164,234 145
12 31 2009 2008 2007 18) 11,273 11,038 11,033 (960) 4,566 2,932 2,931 18 19) 115 268 152 13) 62 57 57 18) 18,939 19,433 19,821 18) 15,714 11,597 13,309 4,198 4,198 200 53,907 49,523 47,503 9 12 20 28 31) 15,085 11,381 13,028 21 25 28 31) 24,927 23,321 21,300 33 11,336 11,866 12,575 29 8,897 12,280 12,908 6 22 34) 7,492 5,743 1,396 2 23 31) 2,680 7,866 13) 692 CERA I II 25) 3,008 25 29) 5,743 1,115 1,296 73,480 71,394 71,061 146
12 31 2009 2008 2007 24 28 31) 500 9,770 10,500 13 20 21 25 26 28 31) 26,991 22,225 28,752 2,197 2 23 31) 9,147 7,925 4,904 9 12 20 28 31) 2,159 1,636 1,514 38,797 43,753 45,670 112,277 115,147 116,731 166,184 164,670 164,234 147
12 31 2009 2008 2007 2 13 25 26 27 178,686 186,999 196,171 8 1,588 1,512 1,346 8 182 6,132 60 12 1,685 1,051 1,054 182,141 195,694 198,631 26 27 35 150,928 156,872 172,837 15 19 26 28 29 12,803 12,033 4,412 9 4,901 4,305 4,336 15 21 28 31 (3,839) (2,537) (1,573) 22 34 3,351 318 (328) 13 20 21 24 25 26 28 3,328 4,135 2,999 28 1,803 1,456 1,415 6 22 25 35 (1,179) 6,617 (646) 23 555 846 1,096 (266) (467) (162) 11 (246) (188) (327) 2 216 12 (196) (108) (571) 8 40 4,320 61 33 130 217 214 172,329 187,819 183,763 9,812 7,875 14,868 148
12 31 2009 2008 2007 33 3,303 5,122 2,729 (258) (2,041) 2,379 3,045 3,081 5,108 6,767 4,794 9,760 36 6,576 4,100 9,562 191 694 198 6,767 4,794 9,760 36 5.93 3.71 9.02 5.93 3.71 8.98 18 149
12 31 2009 2008 2007 6,767 4,794 9,760 27 (23) 28 (3) 2 (3) 24 (21) 25 54 49 668 (16) (15) (234) 38 34 434 1 696 (463) 63 709 (4) 6,830 5,503 9,756 6,639 4,793 9,345 191 710 411 6,830 5,503 9,756 150
18 19 19 13 18 11 18 11 18 18 2009 1 1 11,038 2,932 (328) 268 47 19,926 129 682 14,395 4,198 53,287 3,552 56,839 328 (93) 84 319 382 701 2009 1 1 11,038 2,932 268 47 19,833 129 682 14,479 4,198 53,606 3,934 57,540 6,576 6,576 191 6,767 24 38 1 63 63 24 38 1 6,576 6,639 191 6,830 (693) 693 (129) 129 235 (960) 1,481 756 756 153 (153) (2,705) (2,705) (126) (2,831) 235 (960) 1,634 (153) 24 (655) (129) 1 4,693 4,690 65 4,755 2009 12 31 11,273 (960) 4,566 115 71 19,178 683 19,172 4,198 58,296 3,999 62,295 2008 1 1 11,033 2,931 (328) 152 68 20,292 298 (14) 17,032 200 51,664 3,341 55,005 328 (89) (1,238) (999) 5 (994) 2008 1 1 11,033 2,931 152 68 20,203 298 (14) 15,794 200 50,665 3,346 54,011 4,100 4,100 694 4,794 (21) 18 696 693 16 709 (21) 18 696 4,100 4,793 710 5,503 (388) 388 (169) 169 5 1 6 6 116 116 116 (1,974) (1,974) (122) (2,096) (3,998) 3,998 5 1 116 (21) (370) (169) 696 (1,315) 3,998 2,941 588 3,529 2008 12 31 11,038 2,932 268 47 19,833 129 682 14,479 4,198 53,606 3,934 57,540 151