Document 6524073
Transcription
Document 6524073
COVER SHEET 4 1 3 7 6 S.E.C. Registration Number S Y N E P H I L S . , D E E L O P V R G Y G R I I N C M E N T D & . ( P D E V E L O P r l y : I N C . f o r m e H I L S . , Y C O O N P E A R L M E N T U E M C E N T E R D R I E , (Company’s Full Name) 1 6 0 7 1 6 T B L D G. C O N D O M I N I U M P A S I C I Y , M E T R G H T F L O O R T O M A N I L V A (Business Address: No. Street/City/Town/Province) Anna May B. Agustin Contact Person 633-9757 Company Telephone Number SEC Form 17-Q Month Day FORM TYPE Month Day Fiscal Year Annual Meeting N/A Secondary License Type, if Applicable Dept. Requiring this Doc. Amended Articles Number/Section Total Amount of Borrowings Total No. of Stockholders Domestic Foreign ________________________________________________________________________________________ To be accomplished by SEC Personnel concerned File Number ______________________________ LCU Document I.D. ______________________________ Cashier STAMPS Remarks = pls. use black ink for scanning purposes SYNERGY GRID & DEVELOPMENT PHILS., INC. (formerly: UEM Development Phils., Inc.) 1607, 16th Floor, Tycoon Center Bldg. Condominium Pearl Drive, Pasig City 13 November 2013 PHILIPPINE STOCK EXCHANGE, INC. Tower One and Exchange Plaza Ayala Triangle, Ayala Avenue, Makati City Attention: Re: Ms. Janet A. Encarnacion Head, Disclosure Department Synergy Grid & Development Phils., Inc. Gentlemen: Attached is the Company’s SEC Form 17-Q Very truly yours, SYNERGY GRID & DEVELOPMENT PHILS., INC. By: ANNA MAY B. AGUSTIN Compliance Officer SECFORMlT{ OUARTERIY REPORT PURSUANTTO SECTION 17 oF Tt1€ SECTJR|IIES REGULATTON CODE ANO SRC RULE 17 (2)(b) THEREUNDER 1 2 4 5 Forllre qua'1ery perod SECldenrilicatotrNumftr 30seplenber20l3 41376 3. BlRTaxrdenliidarioiN!: 000-593-240 Etadtname o{ ssueras spected in its dhai.er: SYNERGY GRIDA DEVELoPMENT PHlLs.,lNc. Froviice couniry orolher jursdidlion of incoeoralion or orsanizaton P.siq cly, Republic of the Philippines 6 /orr.ca.. 7 ended: .ar'"-- E ,s.'r*o.,, principaroflice Address of ssuers 1607, 16th Froorj Tycoon Poslatcode Cont.rBtdg. condoniniuh PearrD ve. Pasis ciry, rletro ltlanila 3 lssuerstelephoie nunber, nc uding area dod€ L Fomernahe.fomeraddrcss andformerfscalyearlfchansedsince.srrepod 10 securres reg stercd pursuanr to Seclions 3 and 12 or rhe TreotEachcass sRC, or Sec..4 and a or lhe RSA (as or of 49,466,000 11 Areany orarroflhesesecurres tisled on lxt of Number shar€s conmon Siock ourslanding and Addunrol D€bt oulsranding ouFlandrng Debrs Yes 31 a srock Exch.ng€ No I l 12 check whetherrhe issu€r (a)has I €d a r€porrs €qukedlobenred by Seclron lTortheSRC and sRC Rute rTthercunder.r s€dlidn 11 ol lhe Rsa aid RsA Rute 1t(a)-1 |iercunder and seclions 26 and 141 oa The coQohrion code ot rhe Phitippdes du.nq rhe prceding (2) monlhs (or for suoh shoder per od thar rrr€ Conp.iy was requ red ro tire such repor6): Yes Ixt (b) has been subjed to such Y*txl No t n9 rcqunemenls ror ihe past 90 days Notl APPLICABLE ONLYTO REGISTRANTS INVOLVED IN INSOLVENCY/SUSPENSION OF PAYMENTS PROCEEDINGS DURING THE PRECEDINC FIVE (5) YEARS 13. Chedkwherherthe €q'slranthasl edal doclmenkand repoG €qu@d 1o be lired by Sediion 17 o, the code subseqdenr rr rhe disftrbution of s*urites under a pan confrmed by a coud or the Yesl Nolxl I Tliis ilem is not apo icabe Io the Concny. DOCUMENTS INCORPORAIED BY REFERENCEI The Company rkewse ahaches lo this iJrfr and incorporares by reterene as a cdhponent or pad hereof ls F n.n cial Slatements rq lhe rh d quanq ot2013 perlod endrnq Septemb€r 30 2013 PART I- FINANCIAL INFORIIIATION lleh L Finan.ial Staromehrg FinancialStalemonls and fapplidabe Pb Foma FinancialStdemenls meering lhe €qu rcmenrs ot sRc Rue 63 Fom and ContentofF nan cia r slatem enls sha be fumtshed as specifted rherein Syneey Grid & Oevelopment phirs hc ( Compeny") ako aflaches to ihis form .nd incolporar€s by rebrence as a component of Pad ils Financiarsla€m€nk lo. rhe thrrn quarrer ot2ol3 pendd endinq l lrem 2, Manag.nent'3 Discussio. and Analysis olFtnanciatcondition.nd Resutts of Ope€tions On Jaiuary 25 2011. rh€ Company enrered inro a Secur€d Facitires Asreemenr {Oig na Facirity Aqreflenr)wirhabankwihanagq.eg€ieamounlofus$1e0h on(p33sbi[ion) The prcie€ds of rh; us$172 35 miridn (P7 61 bir on)loan se€ €ppried to lhe ex sl ng toans oblained from a bank by cataca Hsh Power cooo€tion (cHPc) a nonne ated enrity At@sls ro€s and ntsNls re"rea d n @nnedlionwlhlh€orgnalFaciyAsfeementarcfortheaccountofcupcTheoansaFforaperiod ol trvo yeare and wth an jnle.esl rele equivalent Io the aoq€aa(e ot rhe London tnrerbank Ofered Rare 1Lbo4 plus a sp@d The oanwastuNoadanaor 27.2a12 o' De.ero.r . r 20 0 1- Conparyt P2l500 mirrion divided nlo l00 muton 6mmon shar€s al Pl par vatue per sha€ and 65 m on nonvolispreferedsha.eswthep4vsueofPlpsshar€AproposedsharesMpwrhthesrockhorl€.sof oF rd odl Hod E3 orirevreTFe[s 01,-o'rdry 16,20' anro-z 19 t-F , or pJ1] ,o ssue,outorth€ n..ease in theeuthodzed cap ratsicdk ofih€ company 1ooooo00o;frmonsiaE;ar a0ic6o P:opp.. a' d,daa 'rre/lErqab, ten r1c,es 1 EqEaCoyu ro Jr on 14.2011 th€ orgMl Faciriry Aqreement was emended (Fnd Amendment cohpanys loans by us$2r0 minon (P9 20 binion) The oan proceedswereappledaspar(apaymentoflheexislingoansobtainedfiomabankbyoneTaipa^ lvlarch Aqreemen() ncreas nq lh€ amount of rhe onMa.ch23 20rl.lhesEcappovedlhe3haeswapandincEase n the comoanys authorzed c6pilal geement has noi yel be€n dompreted pendrc rh€ de v€.y ot a pad es nvo:ved anr as such ihe company is takins flre poston lhar the sha'es ssued oul or rie ^d€a LJponefibctvryorrbeshereswapth€Companywinown6s34Toorpactcaandl0o%oroneTaipan On December 14. 2011, the Orig nat Faciriiy AEeement was runher amended (second Amendmenr Ag.eemenr) inceasins the tota roatr commrmenrs or USS400 minion (pl76s binon) by Us$305b0 minion (P1343 biriior) lhe addtona us$305 s0 m on {P13.43 b tion)was app ed ro tuIy pay the exisling one lalpan ro.ns lo9€lh6r with lhe acctued inreEsr and penatries cosb r€es.nd inreresi rearedandinconn€cilonwrhrh€F sraid sedondAmendmentaore A on Aprir30. 2012 the board apFoven rhe Gua€nree ot rhe us$1000ooooo nc (Thtd Amendmeni Agreem€nr)from a baik. ard a Side Lerere(ending rhe securty grafred bylheCompanytoPowerAccessGlobe ic.uMercetunremsandcondr.ns Goba nAugusl2012thebdadapprovedanaddlionatGuaranleeorUS$80.0OOOOOtoanotpowerAc.ess Gldbe nc (FounhAfrendmenrAsEemenDfrcmlhe$meba^k,und€rlhesaner€msandcondrons on Apd 29 2013 a Fifih Amendmenl Aqreement was executed wherein rhe company absouiery a D91.o o Old d'p"1 d I oi B.,orh aro ool'oJo15 r> o' 9 1a oo, o^s r, oe.'F Orq -r,a. r i9erA r 1d.T o e a'pa. +" ..pta "aerr oonc^ff i, rr efanE tor ;, "lonr uss263.947.500(P1O33b on). Excepl ror the advences whch rs major stodkhod€G/atf ates made ro the company. lh€e are no tansaclions beM€en lhe Compa^y add any or ts dirfttoB, execul ve ofiice6, or stockhotdec own ng morc rhai rive 15%)ofiis outsiand do capblsrock:nd any membe.oflhe I imnediale ramity Ihe company has no subslsiing 6nsltud1io^, consu rancy, sub{onl.acrna suppy, sates orothermaor astsements willr any pady lt has no maredar commitflent ror any capirarerDendru€. AsorSeptenbd302013,rheCompanycur€ntytrasoneempoyeeaFinanc.Comprrolerburpans i, h re employees in the ensu no nr€ v€ lt2l nonrhs The€ re d scussed no major ftks rtrai the Company is idvoved n orher rtran lhe c€dt ^ Nole 1 5 ofthe Nores I aid iqudty risks rhe ntormation disctosed above the company fudherdisctosesrhar The Company do€s not anlicipate any cash iow or I'quid ry prcbem wrh n rhe next 12 monlhs Thecompany s not ease or other ntlebGnness or fnancn9 aransemed r€qunnq ir ro make paymenb nde b The company does nor :rave or is nd alare or any lrend hsve a mateia mpacron Gtqlidity At pc$ni the company hes no maredat oommthents rbranycapralexp€ndlure rherea/e nossniticanto€m€nlsorincomeortossrhatdd nolars€rrom h ooerar.ns ed' .. r1e Coroar! -d. of inene slream atlibutabre to ils non-operaiion Tlre companys proposed corporate eoruanizaion 6id dvercifr.aton of ts blsiness is jnlended to improve the company's perrormance and sddress ds curentlinancal lGses A €xpenses ofrhe company arc cuiienl and rhe company does mt exp€ci atry dnector flianca obligaron thar i contnqenl Ihe Nino ro owng is an exp analion or mal€Iia changes n cena n ilems of |re Companys nanths en.ted sqtepbet 30. 2013 @noate.J wtth hine nonths ended s@tenbet 30. 2012 cash and ash .qutvatehts caslr antj €sh equvaents as of s€prember 30 20t3amo0nredroP1007miton.577%beiowrhe P23 31 mirrion asofseprenber30 2012 Ths s ma nty due to avaiab 2012 intend€dlorihe payn€nlorexisrinq oanswbchfendueon odober20l2 As or s€prembor P25A 30 2013 the comp:ny.ecorded olher cdrcnr assers of p234 m on as compa€d Sepr€mber 3 due to lhe .erurn of.dvanc€s ro m on as of Prcpet|andequionenr.het The dedease n propeny and eqdpheni amounthg lo p601 mjlon or 37 97elo as compared to rhe Maice !s ofseptemb€r 30 2012 repr€senrs deprcc.lion or propeny The dedreAe orher noncuireat assels amountinq ld pOlO milrion or 37B% as compared lo lhe 'n baanceas ol september 30 2012 reprcsenrs rhe retundabtedeposirscla m€d othet receivables and L6ans payab| 30 2013, rre Company had no outsbndnq curi,.ir and Don.urenr orher As or sepiember c1! oa od.dr.e.o o.c -ep r€ceivabr,As rntercsr ncome for rhe nine months ended seplember 30 2013 .mounied lo P 16s milion.90o/o touer Pl 69 m 2012dueto owef cash p aced in shodrem nvesldentsaid rhan rhe , a6 dn" oe, od i, 20 _ Fotetgn Exchanse G.in (Loss) ro' f. r'" 1o.r. eld"o Seore ' 0e..0 .0 strenglh€nins orihe us doiar again3l rhe peso Nine nonrhs ehded sebtehhet 30, 2a13 Pe.". Le '€ oo1 -d oL 3,.t-e Cortu, ! i-.o.deo.o,.9l e,.,a, qe q". or D 04 Bs 01 tor. oL" o r conercd ta ye* ,je$rJp. od ended -S tsa o"' od e1d'r9 eepFl oe e| prof .+ ts r d .c,,.qs o"oo pienber 31 . 2a12 _ Expenses as oi S€ptember 30, 2013 and December 3l, 2012 amoudled lo P5.47 millioi nq iees ot lhe Compony. Thls fr illion rss pectiveLy as a result ot d ec€ase in pmfessional and f aP011 losspershareforlhepe odcompaedloP014foryeatsend2012. Key Perfomance hdicatoF Tola asseG as of seprefiber 30, 2013 amounred ro P13,499 944 trnere 75% reprcsenE esh and cash equ valenE .nd 25yo represenls other cun€nt and noncu€nr sseF. as of septefrber 30, 2012 lot t ass6rs amounied lo P14 436 352,439 Liquidiry ahd Capitat Rasoums As or seplembd 30 2013, the comp.nys c!rcnt Ess€G exeeden rh€ cuiient tiabtiries m Th6 cuiient ra$o es of Sepiember 30,2013 inc.€ased as @mpaEd io Septembq 30 oi 30 seplember2012 30 seprehber 2ol3 The cod pany incned e&enss such as fil ng iees satar €s .nd @ges, Elahe I feesi prcfession, tees. ra\er Jnd [email protected] aro opod19 evoens$ lol€ 19 ro p5!7. 337 fo. rfe pe,oo;1ded <"p..trb-. d€ 1020!1,'2votes.rF&lrD62tBrooopearhgeipeTF,o,rhepe.iodeTei)SepFnbe.30,20t2 The Company eamed inl€Est income of P165,253 and P1.693 3€4 from praemeils *ith ban ks as ot S€pl€mb€r 30 201 3 a nd sepiem ber 30. 201 €sh 2 depos0s and shod tem rc.peclive y PART II-OTHER INFORMANON The issoer fray, at ls opfon, repon under lhis item .ny inirmatron nol pcviousty €p.ned td a @pon on SEC Fom r7-c rrdi$rosureorsuch rnromaton is made u.d€rihis parr [, ir n*d nor be rep€.r€d na €pon on Fom r7-c which oou d orheMEe be €quked to be tiled lirh €specr (o sudr inrom€rion or in a su&eq0ent Gpon on Fom r7-O. SICNATURES P uEuant to rhe €q ui@ments or rhe S€cud es R€gu tal on cod€ rhe issuer has duLyeused be s qned on rs behdf by ihe undssiqned rhereunro dury aurhoized SYI.IERGY GRID & DEVEI"OPMEiT oal€ Ndember 13 2013 PH[S., INC. ths epdd ir SYNERGY GRID & DEVNINPMNNT PI{ILS-.INC(Fornerly UE[I D.y.lopnr.nt Phils., Inc.) ]N'T'RIIYI STATENIETITS OF FNir\CIAI (wi$ Comoam.ili fi€tr'.s lor 10 S@rember ?012) I-IABIIITITS AND EQUITY POSITION SYMRCY CRID & DEVELOPMENT PI LS.,INC. (Torne y UEM DeveloDn€trt Phils., Itrc) Nnh conpdttc figuc ro 30 scphbq 20r 2) 30s.'li0b$? ' ;,, '3 SYNERG\ GR[D & DE!ELOPMt i\] pHtfs.,INC. (Fome.ly UEM DeveloDment Phils., Itrc.) NTENN1 SI4TEMENTS OF CHANCES IN EQUITY (with ConpaElive figues for 30 Ssprember 2012) CAPITAL STOCK - Pl p,r vatu. Au$orized - 50.000.000 shrs RETAINED XA$UNCS (DEFICIT) Bar.ne ar b.cimbe of ofiod Sr,r{ERCY CzuD & Df,VELOPMtrNT PHILS., INC. {Foderly UEM D4.rolneot Phirs., Inc,) (wid com@d'ic f€ls ror r0 iprntor 20r, Ulqnd6rcigqd4qkal)os (^sqANDc{\n EOUr!^nrc SYNI'RGY GRID & DDVELOLIVIENT PiI[S..INC. (Formerly UEII Dctclotncnt Phils., lnc,) NOTES TO 1'H F] I]INANCIAL STATEN'J]]NI'S ll, 2012) '."pp .p- Lr;.. i cr'.. i'o..r-dr (With coDpr.arivcs as.lOecembci Slncrsl clid & Devetopmcd phis., Inc. l.Conrp.rl ) lvas oriSjialll a ,njning corporarion afd ilslic'xd eith ihc Se.u.nies lnd Erclj rqc Co'nnjssioi iSEC) on turc I t9?a mde itr mme Mrtrki!' \4ine'alsl)evclopmerrCoDDsft, Inc !" ' 11' 4j.h..3r'rrd'-. a' I'l' I olE.,r"^" lo e, 3 h-d - , Ih. polenrialofi)odunny -nr' rtc.r,,'rr'. tri - Lr v p,n,nt.r..ro reirin i,,. ."...,.i,!..o -. ,. r nenJ e, or i, D. r. /,.rpo;., d . . ir rhe cor$ntrrion i'ldtr!ry broLght ibotrr N r srry ota mrv rdlih Od Oct bcr 10, 199r. thc SEC appmrtd lhc AmendNnr ro dr Scvcnrh Afrtclc ofnre C.mpory s 6.. oledrd, hFp' \!rucor ie o, eo.pi h.,ort0,,. 1.e" . 'e,'n 4? u o.L f1 .00 0,0u.0 hr" r;.0.00u o0 ..re_ id I .o .l rer t-..Dne, 'rrr o.l "t,* On N.veDbcr 5 .nd 9. snd December 14. 2010, dr tr, Boird of Dnecroa c.trsidcitd ,o(t ,t .!l 1f A.n!. n.r'h. \' . e . r tncu oo,d ,n . dH.-t.. t.,Boftd,.t o,,.,on-.)ri.. , 3 e.r' i o&D.\r'.fln1, ifd ,'.:"o.Fdd'im -. -.din \".n"i" "r.1 ..t..p ...t 3,.. dnJ ,eri,ig,r, utrJ .u,t, -:,"..."." p,t.,o0ood " -d r r'd -'.,. . an,.t! o tnoon, r. \t,otd.. o ti ..mN. .0 0. t1r. , ipD.o\eo o.I l;.p,, ": _ M{!h 13 20 Lsee Nir I ) L,.,no..\ ,o...,et.{roon,.thi.,D,a"\0..,,. n&o nte I trul scr' n The Co'nparyt rcgGrcrcd oftjcc addrcs Pcrn Drile, Pxsig a A. MctoMmit. !&t ltqr&rconp!4ft! .:-_:,"t:: 3.. is t607, t6ih Floor. tycoDn Ceder Btdg CoDdornrriu.r b.. o-,r.J rh ,or c Ln,, 1,. ".d.Jqc( prrs...rbeedotr n?..n,0 Irr rtcep.nr\r \,1d os.d.,.R\'..J.: b Lr...",nn,t drd. Bo-.o,raqs. 11 ;.. . , t,. r,a i;,fp.. \r.!tr ii,. .' nJi'd ^-".tr.,..,.. a r . r r .". !undtr'd\a, r rre\. ", r.1l,,r a o.ro4n Basisorlleasu.encor Tre fiDar.a nateNns have bdctr prdpared otr ar h hioricot cosj br! n ot,ccordri,rs tqql!o!aL!I!i@e.|h!ia!r!ua!!l lhc linancier$.rnefr arc frcscnrcd in phiipt)rro peso, *hich G al$ the Company\ lnDdonrt p escirutin t'l' nl peso hG bocr rounded offbnr nerfd pe\o. un es nrl,ctu i\( inJndrd 'pn \ntrdrr {l fini !r ilunniton I Jsc oi .Iud lmeit and [$i'nfts ll'"o'I.a'o " p.R.,, r !f,,6e.c, n,,r. r'1n!"1 I e k d aon.'rk.'rre1,o-.t. u or..e t..b,i-. .o-...a-.1, :' "..imoio .. .d , t,-,tu.. evaludioD ot retcvant tic6 dnd cirun$an.es as otnr dde.t$e finc"" ur qr".-s. ,\u,,;r **li 'n.vdill lrcnrhescnini$ Eii'nars aid underLy ie .sumptiois arc.evieR.d on an .n-!oiDs 6sh Revjsions ro acrounri,r! esi'nrts are itcosrlzed dic period b shich ihe esimaie is rcvised a in any linnc lcriod'; \d-.c, r-F.,,.b ti. .3 .trfn.....r-,1 .. to..,.uro h(.,ml" ). oe m -, rorh" trt,.rono,r -.. rotrtr ..or.in r ln peli.ul?r. rhe lolloeira is ihe infbnndiombonr siglilicant rrcas ol enim[es. uD.sdr v ..,,. ...-n,...,of\n.r..o." "00.., ,r,i ,,.".. I .uuosfiTcd in rhe iir.dciat n'rhcnrs: n i ] ; ;|;..:. , .";;,,;. Dd s,ti,t.tg Fund bna I C ut.r.! :,1 . .-". r.ub e..o|heuo., bc! d1-.. 1 1.-l-.'.^ mrirlt irfl ucncos L .. 0..r," r..ontr,c,i. rlie i'Nenins r.rivirics tnr tnqt r|ltlLr\4 41rn,ltj,nJ l-"- I" -d .l :",, rp"l " .h.h",o p,.oo..re L, otdE Co,rD,f L4 p,rFine,.o rc ,.r...mr3)..h! ,irrft pe.o,. J,. rrh,t r'nrn 3o.| r! n, . .t,e , ,(ed . '. ,l ,reJbc ud, t , pe.L. h t,^- ,"_ r.,i" ....,"..F .tii!. o, o ff 3 0boh.nc"s,ll." r,. ., ","r, be Dop-).,o-o Dm-. .,ore.,trjied,j_p,-.Dr!n._otr.-d.op.q l0.l0l:1,.- N.n, r,. .1,.,. Lr I i 3 {!p-. ; .. "" ., ' hryarn n t oJ No trf an. i at 1$d\ n,r (onpmr ,.{$.. r,pJ mei or norfiMncial 6scb whenevq erttrts or ctmsc! i,l . rcur{rnres idnJte L hels.. ns o\!iLble T|r lJ(rors dr rhe Conprtrr considns iDD.na rlnch !o!rd kilto r' npJntr,crj rc\ e$ in.ltrdc rhe ioloqf s,giilunt mde.|frtMmNc ehrive ro signiticmtchaiScs n the silniiicrd rhe e\pecled hij.iclt or nrcjccred ti,rtre oNrartn! ma tr.rtrssotrheacqur.da$e$oritrsrdes],torovem|brsinsri negarivc indunryoreconojnicrends. EliDtuin! Rc.tiz.l'ltr r$ic\r lLre Con0anr ro the e\tetrt dri ir .l L,femd 1e )\.^ its delcd.d r.x.s!er ar erch re|F{i'r! dde $d redr.es the cr.ryjDg.Djotril h do lorser Dmbabieth srmcienrtNablc pmftsi| beav.jableto atLowa oj ofdrcdeae,,.dkrassertoberrtllDrd Thecompary s ($ssmerlof rhe recoln tn ofdefeNd r0: aseh or d.ducr ble (eDporrrl d ftirci.e rnd c befefis otNOI_CO is brscd of ltro plojedd larabG in.onc wirhin lhc pres4nion per od'-atonymJ pdn d ior re.osniz dr der.i.ed rax as d Septenbsr t0.l0r rid Dc.chbcr jt. 'scc laMble prcfir rhat$ simeiumeoic drts mtexpe* ro have suntcicd [ tjc.vlitabte agaiFr The Companr 2012 $hich d,c Company dcltr.d {rx asser car uritizedr Pnvi:i,r nn.] canti'E beicrilrhk lI. r.iA l( "m.-. .h o tiq, -. .otr'{ or b rUotrtr ,-n... .'neoll ron ar'r.o't...e. ' ' ' \ m ..r cimpmr d@s nd lEre idv ulinle'r hsal or condrucitvc obtjsaron dft rcquncs provision or 1 d .r. isu oyre as ar Scprember:r0_ 201:l sumntrry otsignili.{ot a d Deceinborll,20tl I'oticjcs ^.counrine hi,.od' gpuri r .iotr b.to- hr-bce ,ftr.o.o... .- rtJ , f,oo.p,--ntdin,.... r i. .,,t'ar n^,. e.,..' o, rhL - 11-,n . o 1. Aoo,ti . j..\ptJi;.o ictu. 4!@@! ol r!!!!!l!*!s!!la!!!!li4'!qrrjE!!!s t siandad!a!Ll!E!p!!4i!E . o Dn,. - .. oeo rotto-in;. .", .". o ,.;d !, i1..or..rotr , .n6 ,l'e rn{4' fte,o,t.n6.t d,c-d .r.,ujo,i,F.tt.et.," -nl: ". ," . e o.:kd + doti ,' r+-e|hd 1i.1 o d .o Lr-"r\... ",,.,,f..,. rhcco,trit 5liii!3 i rrrfl . ' Dntl6w6 - frurf?t\ b '1n!..Ln. i' o ".da' .,1 t) ptLg 7). toqtrjre addiiJnatdisd.nrcs ?t..jed,.to,eo Finotidt ,,1seb tl1netutnen\ ,er. Ln.m,.-n . - .o re t rJbit,L, . d .\.,tu. e,.. 1rrd.'"... ' '..n,,conrqui,.,.t.e. ren. u. t1 , od Der.tr1,n ^,1..,J'i. .1ir. bl a MaD.\ ". . I t.trd ,onodo.340 e .Lnd4d.. r omr' ' l, 201r, hd tr c nd b*ii rc.l.f4 peri.ds bogi ri'g rner JDUan ti"d t" p,"pariig rh*" it,;;c;;i r'.',{noeo -c"D;{".,'" .,"" ,.,, f'1L1n" noh."1'" | r''r ,\o. . b\ be,ec., t,.,..np. . r fl. ., reto. Lr :_ .t,. o.doo 4,..J tiJe,\ "" ,0.,.e _t\r nJ1,...\. h. .o br I'i:,"::,T,i:t;il":?::$.ili:3:',',lj5Ntrrcvisdneodardsjafr4dnrtr$,ojmdiidsand a J.nuatt t.2a13 i Dretrrono te .oro n) bc,4daptc.l o' ' re,.ni- D '"....ried op.o,l o "D coiditions a.enrtfirD those diol 'ron rou rl drcw bcrcchsilid ai .c.!..td' ro Dftrfir or Los (b)do n.rchmer tho n-{oetr'1.,.',. nt (ci cbarg. the tir e rcLrsnird requneNna.foiher PFRSS corrintre io ap|i! i" rlris rrgad ftese rid'netr$ an&.h'r) r.2012 ynh ea'l] xppticalior Jreflnhed a d rrc ro bc xppljed ol dr. $demenr ofcompr]lflEive irconr! b thc i?remeil of profl o, t.s !tu 01 icr compr.hcnsive i'r.me. IIo*c!er,.n erri\, is { lrllo$.dro urcor]t.ritles Thea'nend'netrs do or iddrcs \hich iiems rE preseited ir olher comprehensnc ircome or wh ch ite N reed to be Thc arc sflecriye on o. ' t)h.l.trtx: (D\etiry ]tina.:iol A\'!ts a tl Fhn,.idt Liabitnies tA ta t1:1jJ1) '.dnE"^ rmeidmcib inctLLde disdonF rrquiRDens rctared io fifanci.t dsscr ,nd finrcil] 'ni'ri'num lirbiLiries thar ard (al offser i'r the naG'ncils ol financiat posnio,: or (b) s,hjlcr ro cr,.or.rbl. manfiio(ingx rngflncnBdrsiDildrnsresnefts. T|qrincludeahbtrtarftcoD.ilidiotrol.so$and e,rrn rfi u r- dn. r'3.,ii, t., ot1\cr in $e shrmcDb o| tjnan.trl posnioD These amendDietrB rre effe.iie tor .nnurl perods These besifDiisonorrner.Janux'_v .l0lldrdaBrobeappticdfuosp.{vdy. fire $idards wirli corslqnenrial ameDdmcih ro other eanJads atrd j erFetations tre rnEndmen$arcelleclivefn'antrr.lp*lodsbeeimiigonorrnffJ.nuarll,l0l3Tietol]o$ngrre rl'c k d improlenEms or amerdmeDh r. pFRSi iotre ot lyhictr ms a sisiiticafi cfed o;rhe linanci2l{ c'ncnr o l ilt Coneanr,: . DL. t 1.ta\. ..ioi re,on\l Mniun, R.. e , | dneno.d .. d ,:.- " ,.0 . .t rrr t.!co ! 'o rou. . l '.to' 3 , o.' d ^noh e {d ',n,.,,t . rr;,.. cooparatire rlohdrion, drtr dial addnionali'rlormdio. rced not be in irc lbm otrc.nntdc <ej.r " 3n1't .-.,'t!.-,".u r.n.pi i"otr,....t o,e "m h bc in rcco'detr.s ri$ ptiRss For cxampte. it.n eniibr ctc* ro pic$rt a rhrd jdcnrD{ ot coDu.ricislvc income, rh.n i[is addilio'.tsdementshoukl bercomparied b) rllrehted forcs, rrd all strch .diitionsL riirmatiotr shotrld be in accod:nce $iih prRss Howcv;r. dre enfiv De.r mr r'-.. "io.d0 enor, at.o ri, ito ,o"".!mp,, .cr- d r r,,;.r".e, . PAS ). Pft:?ntuia1 afth? ollninsskr? eh1.fFinantitn po:i*,, ahtl Aetaled Na1.s.Tlli i ...."r ,,,,.r -,,o" ,-q",,.d.,,,,,,,:. r -.,ed.,r)' o t, :\c,e.r{ ,,c ..., I,aF .,ri.non,,..m.., .1 "e .4. tr.i. enr i C.tr,,t , ,i. ,.,e\:. d Pis3 n!" ,.:kd'o1tr ,r - Lr..n,r . i.kto,,io r. ,.n|- er -d J fiJ , pDron i ,"oc. n.ro 1, p'. ed c od:od rrh! r ih^ Djsin i,B o. rhF e"r,. . jD. f",.rrr - ei.o r,. , rnii\ o,n\,d. .iodr,.o " . , ...;te.oi d, . .4 14....- ,-Lmi,- | r rn. n. f- d-.n,".,"re.,, _\pr4 rr,r -J; .". _1,,.",,,.. oR10o or de' dd',sdd-onat.o tdn.- .n"r,.s.d.hoert;.Jr,-oe ,.c obF. . , , ,r.. 'or .n o l: rri'l cotrsoqucnri?l rmcndNns hrvc b . Plis 12. i.r-4ro r. .iii r'r., e'd Fnnttn tttn,E'r: z?r4r,r'o, ricome 'J.r{ Consequcn es orDi$ brrioDs. Thn ,r.+a 11. 2'-,, -..., ,po,e,o,te.. ...iqn olF . .. eq , \ h .u m. . o ."1 .i ' ditrr !.n...doe.e..d .0.,r.n. be\-.pc.r/ op\i ) befot 'i. .nr. p4< _ 1: . J.r-d,tr ( o .' iD.r on.," hotd" i', cquny, icr ol dy reLalcd ircome ra!. Hon.!er. pAS t2 Eckra y rtquirer rhe rax conseq&ne\ofdivideMsroborccogtrizedinprcfirorlo$. Astmit !.nseqrc iatrnendmenrhss also beetr $adE 10 Phi ippiDc hnerycrrlion IFRIC 2. n,?,t?8 Jr,,? h a:o-.t.tot^\, Fntitie\ atut diredLy fo,?l.topk.l o ,I mtf t lntl r oJliednlq FjhaLidl l::eb. d Fhta,ti.t Liahititk:t4n|"d te k tazJJ, TheseInend,,flrs an entity cufu lr has a legalh entbrceatr e riehr ro s.r ofi irdEt rtshr is: (j) roi conringent or. ntu.e eveDr aDd (li) eoforc.able both ji rhe ronnitcourse ofbtrsi,re$ and irj rhe crcfr ol defrulr, insoheD.y or b.DLoprcl of dr e iq and atL .ou sFrflieq aid (b) lros clRril nEr: (.) 1" ri .l k ',({'' 'n 'n,g if r'!T. '''-s,0. -rc-(n, . hd, 4 3 ni it 'o,J..\ rea .c begi',riigororanerl uaryr.2014anderrobeapptjedrerosFdively T. b..1d.f1 ton,turuatr t 2at5 . Pfrrs 9, a/un.n/ Ihltu enb t2010), pFRs 9 e0091 pfRs 9 (2009) jnnlduces new requnement fo' lhc cLasifi.atiof and measurcDc r of finaici.l asdi Undor IFRS 9 (2009), linancirl6scr! are dNiucd and meNu'ed b.sed on thc busine$ nodeti, shict diova.e held and c..t,n..sDR\! :1]0,,,od..e."od,j..Ltir s,o '.-.ha^'e'i ',n. .br- r,. q\A-r1rtjt,.s. .,\.p F,o .-,medarcnom( \rori !l' ir r'ndd,4\'era-m . .n.o prR.o ro.oJ.e$ rq Fm-a,.d-! F i,:., a rna.,,.e.idtede"sin' r' h."d.D,iolotfla.oi 0t0 i F\p--d. Lr- !. imo,. o .h(.omt''. s C.r,i,t narc - he -a .fi..,nn m ,'-nr u t,.R..i:0tu,,,o.00....-.,.e o.e.:,hto1i.d.o.E,n q, 'nc, '".,t4.Tlr Cd'nprnl, vlll 6ss ilre inprd ofthe abovs meidnreib io {aldrds ]nd rnnncid $Emeih uCon iheiradop.ion i, rhcir rcspccrive efodrve daros jmerpreiariors otr rtr Ddt. .J R? tt ion. rhe Companrr recognizs a flnancial !$c1 or a Inanctal tidbititr in ihe fitrd., p.ovnior or tho i,tr !rh. ti de ol finarcirt as*Ej re.dgniiion rLld .lekmq {d'(nr. a oT r on, isdom6m{rdhr cnrJd?rc.o,r,h! tkitul Recoqnitn .I rrnnrkt ', -. Sul"cotre .i. -Lr.,u. r.@ .'i.l ktrli.,.s FiNnciat in$tufrents .re rtcoetrized tniti,lty d tan .rhe.!.d...(ons..o,e...d t !m,,,... ;ms.o .monJ.r,.i,e. . fi."n.r, aseL .rt, Lo1 r nc h dr,iotLro..Jt. '.'.' fin.n,Bt 3 .d.. \pt fi" ,. l-...3 LD.ti- 3 e le, o 1t 34.iJ,., ir.. t_.td..r.4i. o-Dr.., -tutii,cro, qtvr' ." !.*i"l :",::,t d.Grt'm. ot I'e.otr,t3.r r,{n.irl ....L dno irnciJt no,t,i. , trr,rl ',e.,..ficdiD oq l.nd,pprr.!.'.ra' re..u. d" ,e {io. d .a ,epol !o r 'rhc Compdry h$ ro HTV invcslnc8. FVPL finmcial a$es atrd FVPL findn.ial lirbiLnies as Septennrer l0 20ll aDd Dcc.tr,bn ll,1012. d ,.lFJ Fr,a,.i,1 ,1.s...{ AFS ni.rciat a$e6 ire non derivarivc tifxi.idl a$cb rhd r.c eirher d.sls alcd itr d,; criegory or nor cla$ticd in rny ofrhe or]l fimf.ixl a$d carego.ies Subsequetrt ro iir.irl{coa,ilion. AIS fimDcialrse$ are he.ntred ai fiir vrh'c ind changer rhe'ein. otherihan LnprnD,entLosesaDdlarci$otr(cncydiffcftncesonAFsd.brin*n'mcnr.,rccolizcdior[cr ronprehennve imone rnd presenred in r-l,iir $t!c rusene" ri equir). Dividends carrd on I'oliingAfs linaicialas*r rc recogniTrd as irri! dend inconrii lrhen rhe.j-qhtro rec. rc |[lDUn I'xs hoci oiablis|ed vhei indnidr.l FS fiMr.hlr$cis irc Nirher dere.ognized or inrprired, rE relrtd r.onnL,lalcd mrealized eaiis or to$es previouny in cquit] are hrstcftd io .dd 'epo(cJ rc.osnized in piofiro' o$. AFS n''licil assc( also rcludc unquored equiry $.rumlnr Rith fin v ues *hih rcriabLydeieanincd Thgsc innrumenr aecanhd.r con les iinp.iment i,r uluc, it.n], crir.t hc Thr company s idve*Nn6 ir AIrs fif.rial rsseis e jnchded ulldq "olher Doncurei. a$.6, accou{ i rlrc idemen$ ot tin.icid posiiiotr La.ht dr.t Rtceiahle: J-..is and receivablcs aE ronde,ivarng nnrncid 6*6 lynh fixed or ddcnnimbLe D4'ncnr ihxr arc ror qrorcd in d a ive n.rkd Trrcv .to not eDied ifio wirh rhe h, r rdisF o .!r 1 m e Jt",. d., r or de i. rcJ. ; 'a, i.nial mesurciEir. loan: aDd rcceivabtes af caried ai o,nonized co* Lsiio rlc . trnp!trm., n. uL \1 i,'1 .i!., -oon or jd,e flr ,s nteo" ,.nor tifle'rtr,n. ,p,o1rto o . - ac . r , ," , j ! 1 n ..i l oj e strbseq eDr ro .1,,1 .,... e rccosnizod in The prcfir or to$ when toaDs'id rcoivabhs rrc dere.ogDtzd or iDplned. c.mpmy\i$ rd qsh cqrivrten$, olherrcctvsbtcs and adlances ro e,npto)ccs are inchded Cadr lnch'desca$ od hard aM in banks and n shrod a{ tace rah,e C6h cqlivalenrs arc shonrenn. highly liqrid lnn'lm r rhar ffe Erdit] corvcntbt! ro known a,rotr s ot calh Rith .rn.inat {,ri. of -m. ' oi.r .:k.o,!c.tri1,o. L. fi.rrt Th. conbiicd camDg 4nomt of fimDcial r$eh undcr rhis calcgo,) rtrr.rnrcd io pt0 12 mitLioi afd Pri 20 billiotr as d seprenrbdl0,20ll endDecen6er3l.20l2. resDecriveLytNdrc l5). 4.,. ltwit.. 1.:,.. 1r . I,c. - .tr.ut .,.r ,d-. ,Td :f,onirs con usingdE etfodive irtere iaremerhod. AmodiTed sosl jscrtcul.led bv raki,rs inro$.ou riv D'emu-o,r -od r"nJ n!o'.'\"n,b.',o"rfn.(i iol o,.i1r..n p.: orrlc\Irr \r ec{nForrn r 6iih included ir llitr.doso.' sr a.du* "'0"** *0.*r*"*,,rt The co,nbinod c'rrying a'nol8 ot finrncjd li.biliijes undcr rhis careeo'y mDu rcd 10 nil, !trd rLl.l6 bil ioi o! al seprembs t0.2013 aDd Dccember 1t .20r2. rcspcclivet) (N.1e l5) lrerecoenirio olFlr,rncialAsebaid t,ali rics l.irrmldl-1$c^.r\finarclaLaser(orrvlwcdppli.rbLeapairolxtifancht.ser.'parlota!!!p olsimiLar linaDcirr rscr) is derecognized !lictr: dr ighls ro tu.cive cash llo\$ tlsn dr trsel tlk conpant rciains rhc riehr r. .c.ci!c csh no\r fion rlrc r$et. bu1h6 asiimed atr obligariof rhcm in n llwnliolrfrderialdeLq,to r rr rd n. ) underr "ptus dmtrlh,xrutrBc'nc ior $ p.! rlic compary hs rinsf.md ns richis .o rcccive casli flo{s froDj rhc a$ol and eiihsr (a) h,s trr stincd n'bnanriall' all rbe rhks aid ot de r$ct, o. (b) tras rcrtjcr rrnstcned nor 'c$.i(ts reta r.d J,hranliall! alirlE risks and resards of{hc.$cr, but h.s tansfeftd cotrtototrhe aser i. rccctvc cash fio( ttum ar ascr and has nenh tansfered nor rehined srbnandally allihe rhks ard rc*&h of the aser nor raDrt iicd loftotot d,e rsr. drs a$d is re$3 tod b rhe exrent ofdrc co,npaD!.s coniiiuj,g inrotveneDr f rrrc as!!l cont rtri ! involFmen lnrrakes rlt tnnn ofa glanni* orer nr li.isacned r$ct s me.rEd ar d'e l.\er olare oris ni calrins emoutrt of the !sc!.r thc Da\jnum amouN.tconsiderarioi rhat rhe Con,priJ, could be r.q!ttod ro p,! whld Ilre Con,Frt hrs bansfirted its ight r- . I t t,. \'nirl.'i't.bi \'.0.^. n i o \ 1 , - or . A. , u .no- , . t.b, \. jlLlde\'tr0\ h{-,i d.h,-d cri.ntint.ob, ! ,rjptrr, $nrc l!nd* on str[yanrially dillercnt re.nsj o' drc rcms otai e\istinA tiabiliry are subninrialLl od. e. 1,. c. La;ro . , . te.e.oFir * ,n., a "1, .". ",,"r-..,,,-"", hqd. -. in .t,-.t!..,\e on. "otr'.. "u.li h . Ottic(ineJiiarcial Inift-nen6 Fhancirr a$dsand tii.iciallirbiliries ar! offser rM rlre nela,nounr is,epon.d i,r the iarenEnb of filurialposinon if, and drtt il rhd. is a curendy entbrcsbte legatr Cir io oUlcldE Eogrjzcd ,a..,..ndn-r." i,,c..,o o..rn.,1F,' rc*,ri,.... r, r {,r l\ I mJ - N.i o 3oe.nf. "o..r.r.;o,r,r !$eb d irbili(ies rre presented ir tE $arenenb offinafcial e.o$ Popsij, aDd Do;irjon. cqtripmenrffe c.rjed rt cod tc$..cunul.red dep,eNjarion &d jhp2ir,r.N os. itrny '11.,' rl .o d.i b-l l a i e.,,) ' o,pe1 ,D.. g.o.o {.nde fl,r!nfo, tnc bn,e,g ea e,oi, 1. knl( re '.i .N"r ird p. fi, . o ,n l,e..r ,... .oJ jr,nc, Fo vt. r diur. ' r h..'tr/ o.'od'i. . .n.,."r Drt",\ dno ;. p,n- otrt, .,he Lp,ob,:.e 't'-)ri o o o,(,o,t,r:nd.e o,o..e '.d iteNc.r be Dc$!rcd retiahty r'r'.be. Depreclarion n compuled using dre nraighr Li'E Nthod oler lhc lolld{inge$im ed usefuLLives 3 Tho usolnl lives. reldual/rues and deprcclarioi trrhod are rcvj.N.d period c. ty ro crnrc rtMr d,cy lonsiicrr riih rhc e\pecred pdreni ol ..oiom ic benefih fion (he irenrundcrp,otcrl r! ne,, ii iccoun. until thev are jj. hrscr in use rnd N t!fthcr los A$ds aic dctocogii4d upoD diqr.*r or shci rhs! n no ...p^..c, I o Lc u , , ti po oI ", rull), derreciarcd Neh a'e rctri'rcd dcpre idi.n is rcm-smrd in pronr o rlrc r..L! dF".r -di 'tr.!D.r..-n1,.ne.,lo n,jzed..d ! drtu. ryinE a,nolnr ofthe aser) 6 jroh edinproftorlosinshichrhcasetisdseo! rhe Conprr) 6s$cs d 1lr repodine dds *hether a fioar.id a$el or grou! ofjina cial a$es n A nnmcirla$or d r greup ot lin.icial asds i! dcemed ro be imparcd it and onv il lhcre ir obiedivcevden..ori'nprimeniasrrernloforeorhorecven6rh.rhaveo. FcdanerrtE n, rccognirior ol lhE asd (m i'rutr.d loss eveir).nn dnt lo$ cvcnt has.n imDrd or rll .{injcd nn, ,1n,. o h"fir'.,tA.! o', otrpo. riJt.. . h ..nbe,-, ,.,c,. ,1*tk thrill d )tnatuiad c.!. For asers cadld atrmotrized c.st nrh as loais rid rcGtvihhs .'-' rnr,-\ 'A..r.e.,,,,ehc oDe.'n \it. Dr ri.n,1 (\..,. ind odJ, r!, fin-r tr iii' o Dc'\ ! l..eo' 0,. etr Tt"c ide,,.eto.|},.r,rj,!.,. ','.$.. dtr'dB. ' eed h.,umr,\tr\tu,e. g, I irr,n4 poorcd .ccoidiis ro rbetr credi{ risk dEndcnjns and ..lt;rjd} ;*;ss rh. e-.0 nr D -'. d -h'.' r r". rnr, 'h!r'.dr..i , t. .r mp-i,me , ,, .1; Evidence orinprirnrnr tor${inc inpai.nflr F,. purposcs may jncludc iMicdi.r,rhar ljre bDr.rvcr r,, ..tr\ o-F,i, o, o . iier \ ,n F ,n!,p r ,, ,-.._, .o,r k,-\.,mo-,n^ p.r ...-;.d,, ......" i,rD 1r . htu,. oD.en'otc o,, .. !o d,io o. ,d - l-.,t_ d!.!p e1 .rir.,i.- r,,r'.,ei., n,e-.,.br rn..n...._"n ,.". -r,n""i" r" ob,nr,.t..J o d lf rrc s olrje*ive ev dorcc otimpai'nnr,lhe anFunr o|o$ h measurcd.s 0r difer.nce beiwecn ,he"sd\ ar.ving &.omr md,hc prcscni varrc oreji,arcd ruiu" *"r, r"*,1*.i"ii"l r"m sedn ldset d(comted a! rhe fincncitrl lssers origjnrt effec.ive inrer$ rate ljc_ c;fiecrive n'.l. , : sl,o ld , inir . r re oe .,0. , rr.a.dre 8ene.,t. o,.o_de^oat,.r. Lt tr L u,,..tr_D!ti,,.d,u-3.j,.edi..,.tr ,arc for measlrngaD] i p.irmeri to$ h rte curenr ejfectjvo imer*t rare, jLNcd tornjeoriginrt .redir risk prerium rorcollecrhe inpaiment pqr.ses. inp0i'Detrr lo$ rcsprcrivo delatrhard historical los exDericncs. G compukd based on rheir rrc cr.ynrg amour ofdE a$et shall be redmed eirh{ di.*ily or rhrolgh rhe Ne otar stloeance rccon r. Thc impaimeDr lo$ lo.lhe period shall be recogtrized ii prclir or los Il in a subscqucni peri.d. thc ad.ur ofrhe impxirment 1os decrcases.nd rhe decftAc can be RLared o6jedivelv io m r,c rf..i"nL .A.'..oBtr'eo Leo,$io+ir 0"r..Ii"f..m-, o. rcvssed Ary subsequeDr.ev salofrni'n0airnu lo$isEco8nizedjDp,otitorto$_!othccirc0r rhatthecirryingrmountofthcssetdoesNrc\ceediismonizcdcosr r|crNc^. ddc lhc .drrying amouis ol propotrt .nd eq(ipmenl mc rcvicrcd .1,, c di.r'o"e.r'.. d cash geicnring unns r5sc1 r rlk iir inp.iment Rhen evenrs !r tu rhc..rli gsro rn4\ r..0...b, ,,\.u. eF -rc 'n't, L.o,erbteamo-nr I er!e o r.c RrtucD d.*d ro rhe; rccoreEbtc rnroutrs. Therecovembte dnotrnr otrhc Les cosLs loscttand vtue b Lso lhe tan.vrtuc tsss cojs rose| is obraimble fron {lt srle ol m .s*( in an anns teDqth r.Nr.iiM hd$.en senerolLnvrlue r olnr !Jr-. D ,'r -r1'k.t.... +1, lo r. di , r c, ^ ol - - \'!o.mo dE !. c n. pFiil o s.d.h! 1e. fi!r '\e,.1 .o d ...r. ,l '.t docs nol gereBie largel] i'rdcpendent c6h into(j, lhc rccoveraLic amomr is detomired tdr ilre casllgcr*rri.s triitlo Nhich rhe rs*t betongs. tmp meni toses Ir recog.iad in proft or to$ tn rhose erpc Nc .arcsoi es coi shrem dirh rheftdioi otde impaired sset !i cach tup.niis dftc as tu rvherher there js &y iidication rha. prcliousty 1lr,tr'nq lo r. r,ay ,.J*.,.-4 |h..i""."; *,,. '(.o.nird ' l'"^.dfl,|F. s.eo \oe.'ortJ R.6 eo.,np4im1, 0..i.,\e.e/ort)l rhcre h6 bcen a chmBe'ie,' li rh! e$i'ndes uscd ro detemirc lhc aser s recove.rbtc nr since rtk hi impairnent lo$ Ms recogrized. Ifrbalilhectue,rhec ryillg amount ofrhe rnjo r$er is trcreas.rt Io h rccorcrableenoum. thar irr$sd.mounr c,ii.! erceed dr oarryi,iganomtrhdloutd havc An ase$'notrt tu made beei deteflnincd, rc! ordepreciarion and amotriar on. had ro inpai.,:mj*" rccosii..d f.; 'hL'e rp'o \er \.h+!e's a^r .u h d ,1e, at, , . d-t \ia.io r,d . odia,'o .hJ!. I '.E.og' .'^ing3r. nr.ts..: e\id., \nt co.d) -.r,cbdF \..i T in-ureu rc b.or $!xiLS&!! cia$ilied equiq Inc.emerht cojr dndtv rtuib0lable ^ f.o' .eds.dd.ouf ame." ..* d_"r ;,....r io dr. hnr of \'{. .r\,.,t.utieoo) h\idin8 ome { I,c"De orofrm, J,... - o'.o n BR.ou.b ird.-,"';..,. r-ldc,,.,, ".F .'.., .' o.ouFo, rt,r r,n,e. rnr-"\b..r. D. !,.e.fl a o.rJ.ded rfn' D '.dt ,n. . e o 1br.ble,o ./i6r,ed d ,d!e .uhoe, o ofa dt,n.poe,,tcommo .hd! i ,.. Ba',,"r n. Pe /b .tr" "sm1.... o.,n o,old,ho ,rcd.., o, en c!. \rt, ,, p- ..uttr c\i'on n 'o(o6mphh,t "!n11. \hi.h. uoc., r. .i.t. sr,o,....,o. r€ d. irrk etrf rrum In.!lrtikgi \n6. e or.om,. Tlr compar!. Lravir! io openriors. a$escd rh€i ft h$ no rcp.(rbte sesmefr Accordireiv. ttc Companr does ior oreseit segnreni ]rlonmti.n lico cla.omliser.trnrnarddclcftdhx Inconerax is.eoeniztd ir p,oin or los.\ccp{ 10 ths \rert ftxI n tuUles ro r b$if.ss con,biixrioi. or ir.ms rec.gnized dnedly ii cq! 1r .r i orlrcr cu'r.rt inco'nc {ix is lhe eiFdcd t.x p.yable or rcceiqbte on the &a.ble in.ome.. i.$ aor rljc ycxr 6ingbr rics.n.crcd o.su6{antivct)- cnxcredarnEeponi.gd e, ard.nv rdjNtmer bh: pxy$lc ir itspectoafrcviotrs ysrs. Delcrtd ra\ !$o$ are rec.gtrDld aor alLdcdtrcribte icnponry difirRccs. .rh-'tonnrd tjcmlir! oJ n.ro ,..r0,. Vi im r v L-d n, ...., ,..e \.,Op.., l.:s car.v ove' (Nolco), io the erefi rhd n is pmbabtc rhrt hxshtc ptufir *il] be a\ril.bt;! agrinn Lrhich rlr dedldible t mpor.! difercnccs. jd the cantonva,n b.rclir\.r LtarT Nftl \OLCO can be utiliTcd. crc!pr: fl.'lrl!m' olricr , sadion. arlecb neirher thc sccouni,r! ' pl('n mrtur$le i. .otr,( d.,on rnl n L t$5:iid urne pror,r or respect to dcdrcrible renNrary djfe.enc.s Bsociard *,jrh inve{jn. 6 n sLbsidisries .dd 6scr rrerecosij^d on|lio tlje erteir rhar ir is DrobxbledrRt 'vnh jointverr!'cs, d!ftredia\ inkr$s Irmo'^'n.'n,. \,Ft.,i,,"t.orr'Jre againiNhich dE reD|[mrdifferences c$ bs ditized. lhe c}ry ig amount ot detercd -k, , ,,uonaroo.Le' 'l t* r$cr is revi!*rd it *ch rpoiiry daie and rcduccd ro rhg f.1 ri...s,.b t,.-t, tJ.d d. .nd,,,... g l(. nJ,e'..ontm r.cnrn h, h.. b-.otrrIoDDe.n. "..,...d,.,. "r. ,l L,. ."",.p",, ,. 'rtrd.f!tr!Lih. a$c L! tre rc.o\cr.l Dcltrcd Ex.3seb aDd liibitnicsre measured ddr tar rttes ih.r are erpccrcd to appll, in rhelerr sh.n rho $*i r re.tized or r Lirbitny is seritcd. hsed on kx nies (and r* Lr{lj rhai h*e h.ci efrcred or subni ivelyenaored.r ihe reD.nins Jate Defcnrd r.x asds.nd detercd ki tirbiLiies ctrtre ir{ r$ca agri'N ax liatriliites ard rhe r/dh( ,!au T., ty.,1J) k rcntrcs. e\pen\cs {h.i? ic lax ii tud on lJrrcha$ ' iulori'J in $h rh.i.e L,' 'he lhs.\p.'.e ten $ 'np..bk 'nd rccivables 4d paj-abrc\ rhd ft $ted J enlorccrblc rishr exnts .o sel to die rd r. () ir! of a$er or sc wnh lhc.frouni relogn,zed mr tces ofhx sam tr\iblcenlit] ul rhe ofl and dE \ \ I, rno mj or is no( .e.ov$?bte fio'n rbe raxarior .lacquisnion ordic $sgl oras prn ot includcd &!r!!!!!e !!!!!!Ir!i!I Relentre is recognDld to thccic$rhit ir is prdbablc rhat rhe nanscrioi sill flow b $e compaD! rnd loll.sins sDecific rcqosnirion crireri. nun rko be nri ec.ioni. berelit associftd wirh the hcforc rcv.dD. i be n'exstrrd rcliabll,. Trr. Inr.ren ftome fiom casli in brnk. which is subjcd ro firat lilhhotding hx. n pre\ented rr gro$ an,oumrtrd rrr ki piiJ or wnhheld is inctM.d ininconrerxx expefc. hpe'ses arc rc.ogniad $hef decrca* in tftne econoDiic bcnefiG re]arcd io a dcc.onsc han asser L.biLiry hasrisen thd car bc nerntred rtiab|t ExpeDses erc ..coqntld rhon orar inftase ola Itcl{cd I,aB Tm6a.!ons a.d Retaiionstrip Itchrcd pmrr .d ionship eis6 \!h.n one otr. prtv lras rhc .bililr to conrol. dnedll or idirc.lty rt .n . o.- . o ., '. 'otr.h part] ir rn,kinq lifrncist d .fcr.! ig de.isioDs Such rctatjotrsrjip aLso e\is6 benveer ardtor rirdns entnies wliich rre under c.rDotr corooL snh the reponirg c carke. !r beiwee, and/or , e i:'- ^r,'r d u l. on'ot\,,ourin" ep,!. di,.t"rm,..,,1, te."n" I -.c. clnoo"nr.4FJ o -.tn- " Lc 'de. 'n4.i f oreiqn c!tuncy:r@j?q!@s lransacrio's ii tbrcigr cutremics are convened io philjppirc peso.r exchansc nrcs pftvaitinq ai 'rr'di-. Ipo ep, E.ins or ..,. l!$cs ire' recocriT.d in Drolir orlo$ oc'a.4.,.,djhi-,.Lk.nl,rdinj ,h.,-dt r^ 0,.:n.. ttr .n_r ItvirioDsaErec.etrizldrhenrheCo'np.nylrasr(r)aprcsonro6lig io,(teeaLorcoinndive)asr rcsuh or pd evenrr (hl n is pmtrabte (i0., mo.e tik;v rhan noo rhd rn ourn.w .r a,\o ffes s't. ! c,.'.d,o c e r;o,,.{io rdL.r. +tit . c..,mr...n 'rb-nor'heoolss' b.'n.o.rrc mo.tr rt, ene, ,,Jtreor n.n. .nn.," o ou,r..tee\prr', rc.s no . i ,i n. ' "",, r.r " ,t.D I,.oh""-.. 'oe..nd.l,oa .l o,...-, ."opi,", .. *. , co,.r o re.\ornoiu-. ..,. eo! e ea.,.\i.on,:-.p.FJ,oDe (i- m D. Jorl,c ."rJ. i-,-. I e en J,.,t bL -."qn,ao .,..., I .t\ a. L \;n. etu'1 rt'. ( DU, er- tb",- nco,.he;,," -,.,t,,.oDr." { .hc shl I be r'ed.d as I seprrate r$et rhe snount acohi,rd ld dr Eimhursemcnr 'cinbLEenenr " ''.','., "..."'.; ' adjuned b toncd drectrrenr bste*i'n't. '.:' ' +'r" . r.o ''i c r,.tr conii"gent Lirbiliries are mr Ecocnized i'r o 1ho finmcjal suremerk b or e. r.". ...bod c nvnoai. "nri,t -,{o'. ..nk. rr ,0.,bi i4ari..d re, "e,,,. o,":jd.o.-o r1e rc:dl ,- cn' \. .,hninl ,or..o otr, lr !l ,hnr.b,ht 'he r' Evenb Aner 1he Roponitrr Darc Post yearend ere s llFi provide addirional infomation aboul thc Compmy\ posirion rhe Ep.hinE drre (adju$ins evenis) are reiecred ji tne financiat sbremelb. pon vdrnd evenh th,i .. c rordd'ulins.v-nh&eJn!b 4. Caih r trd c$h eq ed in he mr6'orl,e I 'nrc."t !L e.-" "*,i--", "r uivalenr! Thkaccdu mnsk$.r Csh in balks eam annu€l inbe$ at lhe respective bdk deposir r.tes. Shonretu placeme s rep'-rln eyn4ksph.me I made fo' varlmE perio/, r01 rre,ords.orh,;!ao,..) da)r em'nC r'!erq seing f btr )."" ro 2.310. /or nme.onl. *drc Vpr. b,, J0. 10.,"; I 50rq to 4.63% in Decahbe.3t,20t2.Inret incone amoumed to p.165 nitiion aid p1.95 for the periodsedded SeptshberlOi 20t3 and Deccnber3ti 2Ol2,rspecrivety. Thh @couit consisrc miliod .r' Advancd to enployccs and conrraclors 6, Propeny and EquipmeDr The mdemcnr and balanco ofthisaccountas at aM tor the period ended Sepicnber30,2013 aft as Tnhspoturion Furiltor! Omce Connubr f,qtrinDeor and ri 0re rqujDmenr rqtri;m.nr ,4ddllions dd bat.'6 os ar Asunuraied deprectrtiotr: P1,t32.143 315,255 Dep@iation for$e period Se.nbcr30,20r3 P ,tor.J A..rued f,rpenss rnd OtlFr Gokrnctrr payables inclde wirhhotding tar fidrl hx eDd orher px)rrbh 10 larious Sovcmne On Af.iL30 lid Augun 2?.2012, rhc OignialFrcilq Agenenr \as funher a erded urd tlk Tlird a d fodh A'nend'nef Ag'cenrot, rcspodncl]. ru incllLde Po$er,{cces Ctobrttnc (porer Acces) rs d'e irlcililv c Bororsi ard iDcrtrsife ilie roful lom.ritments by us$]00 mi iotr ,o.:bl ,n, 'or.93n 'i'o ,o. 3otton, .... 'et- t i. tm..r"{e .e obLiSa.iors ol Po*er Ac.es rnd erreDds rhe *criiies gnnied bt rhe Conrprf], under rhc S.rtrcd l_.ci nies Agrccmor ddcd Janur-l 2i, 201I ro rhc frciti! c RoroNq in rhe eveni of defa n. A]l tddnioDd l@is, !o$s, AmcD{itric r rre a.npart ler md inter{ rcldrcd a'd in connedioD rlirh the Thi,d a,d F.r1li inr drc accounro|Porei A.ce$ The btanceollh! LoxD guarafleed b}. trndnrhe rliiidaid louth mendnent rDouncd ro t7t.9l miltjon (p].lr bit or),s Asrcement a' e otr ,\pril ?9, 20rr. 3 rr rlh Ame.dmcnr asree'ncnt wrs execuicd sberein rhe conpanv rbsollletl rsisied !o One liipaD ill dl irs rishr ard obLilarions as orjstmt bdrdkr uid; ihe Oiainr 'll1''" I {:o 04 i ,o0.3,Dt lP h, n.r.. o 'eo'.! '..r oen: ....FdtJ.h. 0 io-,o',.,.t ;,,,"or..p"..", rs ''n'o .mp. tue.,'o ,. Allco(said c$eD*s (i0cLrdins leeallect rcta{ingro the Finh AmerdDrd Asnemeii aretbrrhE rccotrnr olOnc Taipan as the rcptaccmrdt botrosor. I'rioL to drc apprevalortlr Iinh AmendDent Ag.eemen_ itrc batance otrhE torf undcrarc Fnciinies A8rcernent as rDrMed.motrnied to S3l]l 23 millior (p12.29 billidn) as at Mrrch nrer \.?r.dbtj Re{ed irtercns, cons and odrcr cxpenses inctu,rirs impaci -o ,ton.s l, ,..tr r " as M .h lt, 20t:l iid Deccmbcr t1. 2012 Thc toan oiginat L0rr fiq^ , roionL"e\o,"q, orrorcis" *"tk;g. t-";i o" ror fi; I Oet, I". jn ao, djc a.rounl otcHpc wAs ttr y patj '1]t ruN unde.drc OrisinalFeiliqAereemert as ahcnded are secu.ed. arong o(|e,s, b)- 92.5% o, rhe lornprd!\ shms .r sock, sh'rcs of $ock or tu orher panies b thc tan a-qr;Ei6 and rcc rablcs resutriig nom rhc msjgmcnr ottlrc proceeds ofrhe [aN tu Onetsiratr d; CIItC 10, OtherConDihrn$ Nnd Conritrg.nr Li,hitnics Thc corip.n)r hcs io odraDditrg connn,rcn$ ind rftlDccerb* 31.20tz Derark olshrit oapilatas at Aorho,ized sha'€s(otPt hn'ed nr!rcs (ftltl sepremberl0.l0t] parv'e piid) comnon coniiDgenr antl Docember 3 lirbililics as ot Sepre t. 2012 arcxsfolt.Nc: rr:]0.totl Brsl./dllded i'roD,. ilo*J Dcr slDru Nd los ahiburablc ro shaEholdeN I)ividcd by *ei-shied denge ntrmber olodslidi'rs TheE *rrc connnon shares no d lurirc porcnrisl co'n'nof shres. hence basc and diued Eps flc lhc $ c lbr rtr trLttL/ rt rrh.,E/lrrr rl Sra.LSh!? \wdr O \o! ..tr-r.i o1 n l].r ! Bo,{'- ohe;., o,fl a,d 1,e .,....- r....,..,.,n ri,.p et rIh'r. o"ar 00'nli 1o o d.. 3p,.,1.o,ot pi 3reino, nt ,i..otrln,kic "rrdo",..t.eo llre abovc r€solurions rere anpnvcd bt the stockhotdc6 oi Dccenber 2r. u l)10. .,o. r r.,r.. // q, .h r,. !.c^ tOR "D,.u t.bun o.rO r.UO.1,.a"" .e 1on.roi.i,rlFr, r.,. ,,.in -,u.h.,ao,r Ib 'o .1_, .' omo"n\ 00i u,0,n.Jhmo,, t,. e ., ., (. or p,0per o' -rio.tr, rtri-d'n.\..,.rern,,.i,.h3f. on. ,r., dnd p.ri",., ,rc r ".o.r,.",.i " n:r o . L l" L: .b9: P.... ntie. lhe drr! rr snap rvas approvcd by rhe nockhotder otr Dccrmber2l. Tot0 O.\l ,oD'n\ed r . .hs e . . p r, .,-3c,n t,..0 p.q) ^1..'-\t, '.h.. 'o! r'D P000n't.ontnideo"o .t,on.t,,T .rflpr.e cpr si'.pr ' tr l01dtr.dc t00 i nn.on-ui. de. doJn toD 'n.J pI ln| \ ulf oer\hrc preiemd \|f es,| llrojefarniry.l rlE slnc $Fp, rhe Comp3ry \vito\u 63.14% otpacifica Ld too% otOr! rr.Mi\rdlrneour Err,cns.s I lic accotrit includ* crpenses Jike ren! reraeDhtjon ard odr.rs 13. Ner for.iPn Exch,neccain al,osl The.Nci Foreigi Exchrigc cai. (Inst pefrains to thc re$ts od he rcnareDctr! ot Lo,trs.nd Crsh Bnik lD.rrr rhesc mooeh!- rsd iahili, dsdii,fted in fdtisi Rpo-tr-d,-\"q'e.r,c' ^(dn0 c'irtUi\.u. di g.\.h. ge..re $;;;),d ii rtre Tho Co$panl,\ tcnporaq diflcrcrccs ol rhich detemd rax a$c!s wcft not rccoSlizod by conpanJ dsolSeDtenbql0. 20lr and Dccchbcril,20l2 are shorr bclo\y: rtr seprenber30,?013 Decenbc:ll,20ll Unrcrlizd forci$ crchmee(gaiD to$ Nei o pe.arii e tos €r'r,-ov e. (N oLcO) Ar.r Scprcmbe' 30,2011. dre ConpaDy tirruretrxrbl. incone Dcrdikof Nolco be.lairrrl !s dcduciion lronr 20lr 15. Finro.irl Rlsk ,nLt C,pibt MRn,gcncnl lhe Company\ fiirncirt innDnens comp'iss of casl in baDks. orher re.eilab cs, advrrces ro enpLolecs,.vailabte-torsate tin.ncial trsor. ac.nrcd e\peises and othercurenr Ji,hitirics and tdis The Conpany hs eiposure 10 credn r^k aid liquidiq dsk primailv trom jrs lss of tiian.iit This nolc prestrE into.mdion abont ihe Conpin\'. expojlm ro eslh or torcsoin! r,ks, ,re Conpany\ objecrives, policios md process jor mejslring 3rd mrnsqn! 'he ca n\ts rod lhc Conuaiy s mai ageneni o I capnrr. l'. aj, rr . . ni.ror...c\esrupo,otr(b.k..ebeN.c.,..rnd po-tr tl 'dvr,.. - o"l,c,o.DN.fir o pe,ro,n,n,e.hcBo!J Tlr BOD consnurd the Conp.ny\,{udit Coflnincc ro a$isr ihe BOD in ttrtfiling ib ovesjghi EspD'siuLiq or rhc compar]\ corporsre govemrnce prcces.chdry t rhsr (.j qualnr-;d irnegrct! of the conpany\ iiidiclar $dlmsnr md umnciat repodiis rh{$ md rhe a.om;arvr sy*em ol i .m.lrcou ing and fimrcial conrok;(b) pertormaD.e otthe i onDl adiloni (c) itrnmlindependc oftre conpany\ finan.id dareDctrs, itr eneaSeme otrhe irdepe eir 'dir ftLd rds md rhe ev.l!.rion ol rhe ind+lfdcnr audnon, qmtificrtiotrs, ridspendence rnd perf D rq (d) fmplirrce by itre ConDany*irh tc8atard regtrtatory Equiremenis, irchdin! rhc coDp.nr- dhdostrrcs.onrolrnd prccedws, (e) evaLurioo or mana-qemcias pmes b eksio rd rnmrle ilECorpitr!\ c eQrFe Isk issresirnd (r) Ntfiltncnl otdre orher rcsNfsibitiri!! scr out bl BOD ]he Audi( Commirree shrll ahd prepa'c dE.cpotrs requircd ro 6c irchicd jn rhe q!s4!8!! cr.dh risk G E risk olfinaiciil to$ ro thc co'mnv ila cu$ofrer or cod lrparty ro r firanciat i$rrunetrt rails ro mecr irs conhdmr obiisrid; rascs pi',cipllly lro'n cxsli. adv rccs md '; 'cluidabledepost. Cci* ly, dE riiimuri nh!'.,,... e " ! o$ anallsh povided &k a.si[! .,n.d of rE o"",D .Arpo. ,;n; m, ede,i"d i0 dre noles ro rhe iNoim finociat rarements). asrunr.riad bct.$: c'cdn exposurc ot finarci.r .sseb is rhe P lo -r'.( .. . . o . .,. i o ta..oreri(.i..i.i. s.t,A..nir-.\.h.b.. Lr. 'eo" n!.a^lf . rh. il/ionor.,ed . .,, t,.eb. ..,,.".,.t) {,,.eo Orher receiv.blesaft cottcded on d0e ddemdarcsecufed by shrrcs ot$ck otrhe deb1o6. LlquidisRisk i" d' t- od@n) 1-,.b.6.,otr.J.,..--o\ ,' rle'..rr'n --1." h.) ' td. nd,o,.ptre..nJ. .,.", -l a. -irr,a," r . e r','e !.r.bt$,0.. o, r.\., d,ro,.rd urii . im.m.n, ." riq..,rrtr1. o,,id,4.,on,ee ..mrui To "n..e m.d' ibr grions h! 'able scprembe 3nd io b.lou mcet.uftnrope .u ,.ir. m,tu D r0.toD'nJ DelemLcf r .:u l he S " n.B -.c. rd rr,nri,t Senrcnblr P r0,m0J43 P r0j070!343 5sJ00 30, 2013 P r0,0r0J,r3 ss,s00 co.hctua csh edcsh curcn P 1s,t42,931 P 15,t42,93r p 15!t42,9s1 v:Hlfl p- p- asd) orhnrcceivebr.s 13.132,5r5,3t9 t3,t32.515.I9 13,132.5t5.319 P.001.2 .t00 .004, _1. 00 Fair valuc of Financio] Assls and t iabihies The drrylng mous of L\e Compey's fnmoial a$ers od iiidciat li.bitiries al reponing period appbximarc theh lan valus considerinS rid rhee hale shon bm nduriiies. 'lhe hble Selow analyses Thc diftercn! lelels i . r Lelel I h.!c fi'rncialinionenls cmiEd lair lal0e. by velurtidn nerhod. bccn dclined as lollorvs: quored pricos (unadjusred) i:, rtile mo*e$ tor idcitical.$eG orliabilniss. LeveL 2: inpub orher ihcn quoien prices nrcluded *irhin Level I dEt aE obse $lclorthe&ser olliabiliry,oirhodirecrly(ic.,aspiqctorinditocdt(i.0.dc vedFomprics) L€ve1 i: i',pub lor the 6set or lirbility thal tre rot based on obserrble mxrker drra $re no tmsfes beN€en Levell and Levol2 .f l-evel I fln vahe me,s,€meih fan vatue heas!renenr. aid Avaitabl+to. sde nnmsial ln20ll aM no ar rfusles 2012, lhde into and out 6fi s eapi!au,4"3rc!!r! P. ThcCodpany d€fines capnaL6 crpirrl$ock, fairralue rc*ne and deficir for the peiod lhe inrerim $ateBcnrof finaicirl p.sition. s showi in Manqemcnrs objcclivcs ii managing capilal ar to safeguftd ihe Company'! abiliry io cortitrue as a going concem so tld itcm contiDue io provide retums ro ir sharholdeE.nd to mainlain rn oprinral crpnal druciure to reduca rhe co$ ofcapihl. 16. supplenetrrrrJ Inforn.lion Required RcsulalioN (RR) No. 15 2010 lr by Bureau of Incrnxt R.!e'ueh Relenue addirion ro rhe discloeres mndated under PrRss, .nd such orher slandards and/o. conveftions as naybc adoprcd, componies are rcquted by rhe BIR lo provi'Jc in tne lo lhe frnanciat nabmenis, 'Diesrelotjne to canaii supple'ncdary inlomation for the taxable year. The anohh slch intorh.tion n'ry nor nece$arily be tlr samc Nith rhose aDolits dhdGed in lhe fnanciat narenens which rqe prcpdrcd in amordancc $i!h the PFRS. l: -E 6 E ! i; r: €i i: i; a i 1 I :r E !l I c ii E c ! {; i 3 i ttr ;:: ? it ;! ; ;! 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