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)
Mar 17, 2017
2. SEC Identification Number
CS200411461
3. BIR Tax Identification No.
232-715-069-000
4. Exact name of issuer as specified in its charter
Megawide Construction Corporation
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
2/F Spring Bldg. Arnaiz Ave. cor. P. Burgos St., Pasay City, Metro ManilaPostal Code1300
8. Issuer's telephone number, including area code
655-1111
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 / MWIDE
1,988,577,497
Preferred / MWP
40,000,000
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.
Megawide Construction CorporationMWIDE
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 re: Clark Airport Proposal
Source
Inquirer.net
Subject of News Report
"Megawide offers to build P250-B Clark airport"
Date of Publication
Mar 17, 2017
Clarification of News Report
This is to clarify the news article published in Inquirer.net on March 17, 2017 entitled “Megawide offers to build P250-B Clark airport.” The relevant portion of the article reads in part:
“Construction and engineering group Megawide and its Indian partner GMR unveiled salient features of their P250-billion unsolicited proposal to develop Clark International Airport as an alternative gateway for the metropolis.
GMR Megawide Corp. is bracing for stiff competition with another powerhouse consortium led by the Gokongweis and Gotianuns—which had also submitted a separate unsolicited proposal to develop Clark Airport.
. . . .
In a phone interview yesterday, GMR Megawide president Louie Ferrer said his group’s proposal was bigger in terms of scale and project cost. He estimated the total project cost at $5 billion or about P250 billion.
Through a 50-year masterplan based on the consortium’s independent studies of Clark and its potential as a gateway, GMR Megawide put forward six phases of development that will accommodate as much as 100 million passengers per year upon saturation.
Ferrer said the first phase of development should be able to accommodate five million in air passenger traffic, increasing to 10 million by phase 2, 25 million by phase 3, 50 million by phase 4, 75 million by phase 5 and 100 million by phase 6. The six phases will be developed over a 50-year period.
In a statement, GMR Megawide stated that its proposal would not require any kind of government subsidy, guarantee or mandatory movement of airlines from Ninoy Aquino International Airport to Clark. In fact, Ferrer said the consortium would commit an annual share of airport revenue to the government. ’It shifts the responsibility of capital expenditure from the government to us over the entire concession period,’ he said.
. . . .”
We confirm that GMR Megawide Cebu Airport Corporation ("GMCAC") submitted its unsolicited proposal to develop Clark Airport in July 2016. We also confirm the features of the proposal as discussed in the article. There are no definitive agreements or decisions made in connection with this project. Once an agreement on this proposed project has been executed, disclosure shall be made immediately.
Megawide Construction Corporation (“Megawide”) has been an active participant in public-private partnership (PPP) projects and continues to be supportive of the country’s infrastructure programs.
Megawide and GMCAC share the vision of providing Filipinos with world-class infrastructure.
We trust that the foregoing sufficiently clarifies your query. Please do not hesitate to call us should you have further questions.
Megawide Construction CorporationMWIDE