SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Dec 22, 2016

2. SEC Identification Number

34218

3. BIR Tax Identification No.

000-153-610-000

4. Exact name of issuer as specified in its charter

AYALA CORPORATION

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

32F to 35F , Tower One and Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City Postal Code 1226

8. Issuer's telephone number, including area code

(02)908-3000

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares	620,224,590
Preferred B Series 1 Shares	20,000,000
Preferred B Series 2 Shares	27,000,000
Voting Preferred Shares	200,000,000

11. Indicate the item numbers reported herein

Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Ayala CorporationAC

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Clarification of news article: “PSALM says 4 companies interested in bidding for Malaya plant”

Source	BusinessWorld Online
Subject of News Report	“PSALM says 4 companies interested in bidding for Malaya plant”
Date of Publication	Dec 21, 2016

Clarification of News Report
This refers to your request to clarify the news article entitled “PSALM says 4 companies interested in bidding for Malaya plant” posted in BusinessWorld Online on December 21, 2016. The article reported in part that: “THE Power Sector Assets and Liabilities Management Corp. (PSALM) has received ‘letters of interest’ from four companies for the 650-megawatt (MW) Malaya thermal power plant, the government agency’s bids committee said. PSALM officer-in-charge Lourdes S. Alzona identified the companies as APT Global, Inc., Phinma Energy Corp., Riverbend Consolidated Mining Corp. and AC Energy Holdings Inc. . . . . We wish to confirm that AC Energy submitted a letter of interest to the Power Sector Assets and Liabilities Management Corporation (PSALM) for the bidding of the Malaya thermal power plant and will conduct further studies on the opportunity.
Other Relevant Information
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