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)

Nov 10, 2017

2. SEC Identification Number

PW-55

3. BIR Tax Identification No.

000-488-793

4. Exact name of issuer as specified in its charter

PLDT Inc.

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

RAMON COJUANGCO BUILDING, MAKATI AVENUE, MAKATI CITY Postal Code 1200

8. Issuer's telephone number, including area code

(632) 816-8553

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

NOT APPLICABLE

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
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11. Indicate the item numbers reported herein

-

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.

PLDT Inc.TEL

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 entitled “PLDT to spend P46 billion next year” posted in Business Mirror (Internet Edition) on November 9, 2017.

Source	Business Mirror (Internet Edition)
Subject of News Report	“PLDT to spend P46 billion next year”
Date of Publication	Nov 9, 2017

Clarification of News Report
We confirm that during our 9M 2017 results announcement on 9 November 2017, our Chairman and CEO indicated that PLDT is currently preparing its budget for 2018. Part of that exercise is determining the level of capital expenditures (capex) for 2018. One option is for PLDT to consider P46 billion as the normative capex level to support our various network initiatives to further expand the reach of PLDT’s home broadband network as well as enhance the coverage and capacity of our 3G/LTE network across the country. These investments are in line with our commitment to build an unparalleled fixed and wireless network that will provide our customers with a superior data experience. The P46 billion is equivalent to our original capex budget guidance for this year and is a level which we believe would be well supported by our operating cash flows. As captured in the news article, a higher level of capex is also being considered for 2018 as PLDT’s affirmative response to the increased expectations and criticisms being leveled against the industry about network quality. However, as we need to be mindful of our debt levels, such higher amount of capex would have to be funded from other than additional debt, possibly through a sale of assets. As the budget for 2018 has not been finalized, the abovementioned numbers are preliminary indications at this point. We expect to provide our guidance for 2018 capex when we announce our full year results in March 2018.
Other Relevant Information
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