C04253-2017

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)
Jul 6, 2017
2. SEC Identification Number
CS200411461
3. BIR Tax Identification No.
232-715-069-000-069-000
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 Manila Postal Code 1300
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 2,138,577,497
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 Citicore Power, Inc.'s hydro project contracts
Source manilastandard.net
Subject of News Report Citicore Power awarded service contracts for 5 hydro projects
Date of Publication Jul 5, 2017
Clarification of News Report

This is to clarify the news article entitled, “Citicoire (sic) wins contracts to build hydro projects” posted in manilastandard.net on July 5, 2017. The article reported in part that:

“Citicore Power Inc. has secured service contracts for five hydro projects in Luzon with a combined capacity of 2,300 megawatts.

The Energy Department awarded service contracts for Citicore’s five pumped-storage hydro power projects that will help secure the country’s long term energy requirement.

‘Citicore Power saw an opportunity to develop clean energy from renewable sources that will invigorate the country’s energy mix. Through the projects, the company aims to provide an answer to the increasing demand of power in the Philippines,’ said Manolo Candelaria, Citicore Power executive vice president for commercial and development operations.

A hydro project is estimated to cost around $2 million to $2.5 million per MW to build.

. . . .

Citicore currently has an existing capacity of solar projects totaling 100 MW. It is also looking at opportunities in other types of renewable energy development.

The plants include the 18-MW solar plant in Mariveles, Bataan; the 25-MW solar farm in Silay City, Negros Occidental; and the 60-MW solar power facility in Toledo City, Cebu.

‘We remain committed to explore more projects not just in solar and hydro power, but also in other forms of renewable energy sources such as wind and biomass,’ Candelaria said.

The company aim to produce 1,000 MW capacity from renewable energy sources by 2020.

Citicore previously announced plans to build 500 MW of solar capacity overseas as part of an expansion program.

The planned solar projects are in Japan, Malaysia, Indonesia, Thailand, Vietnam, and Myanmar.“

Citicore Power, Inc. (“Citicore Power”) is not yet a subsidiary of Megawide Construction Corporation (“Megawide”), pending purchase of Citicore Holdings Investment, Inc.’s shares in Citicore Power. Citicore Power and Megawide are, however, sister companies sharing the same parent company, Citicore Holdings, Inc. (Citicore Holdings Investment, Inc.).

As a sister company, Megawide received a copy of Citicore Power’s press release entitled, “Citicore Power awarded service contracts for 5 hydro projects”.

As stated in the press release, Citicore Power has secured service contracts for five (5) hydro projects across Southern Luzon with an expected aggregate capacity of 2,300 megawatts. These service contracts were awarded by the Department of Energy.

We trust that the foregoing is sufficiently helpful to you. Please do not hesitate to call us should you have any further questions.

Thank you.
Other Relevant Information

none
Filed on behalf by:
Name Jennifer Lee
Designation Assistant Corporate Secretary and Corporate Information Officer