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)

Jan 22, 2021

2. SEC Identification Number

AS93000023

3. BIR Tax Identification No.

003822183000

4. Exact name of issuer as specified in its charter

DISCOVERY WORLD CORPORATION

5. Province, country or other jurisdiction of incorporation

STATION 1, BALABAG, MALAY AKLAN

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

STATION 1, BALABAG, MALAY, AKLAN Postal Code 5608

8. Issuer's telephone number, including area code

8813-8857

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	854,000,000

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.

Discovery World Corporation DWC

PSE Disclosure Form 4-2 - Acquisition/Disposition of Shares of Another Corporation
References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Additional Subscription to Palawan Cove Corporation
Background/Description of the Disclosure
In the Executive Committee meeting held on 20 January 2021, it was resolved to increase Discovery World Corporation's subscription by Ten Million (10,000,000) shares of Palawan Cove Corporation with a par value of One Peso (Php1.00) per share or a total of Ten Million Pesos (Php 10,000,000.00) to be used as working capital. The Subscription Agreement has not yet been signed but the investing public would be updated for further developments on the transaction.

Date of Approval by Board of Directors	Jan 20, 2021

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction
This acquisition is in line with DWC's business and will create opportunities for expansion of the Corporation's resort business.

Details of the acquisition or disposition

Date	TBA

Manner
Subscription of Shares/ Subscription Contract The Subscription Agreement has not yet been signed but the investing public would be updated for further developments on the transaction.
Description of the company to be acquired or sold
Palawan Cove Corporation owns Boayan Island, a pre-development site for a diving and snorkeling destination. Boayan Island is located in San Vicente, Palawan.

The terms and conditions of the transaction

Number of shares to be acquired or disposed	10,000,000
Percentage to the total outstanding shares of the company subject of the transaction	11.11
Price per share	1.00

Nature and amount of consideration given or received
The consideration is based on par value
Principle followed in determining the amount of consideration
The consideration is based on par value
Terms of payment
The subscription shall be fully paid
Conditions precedent to closing of the transaction, if any
N/A
Any other salient terms
TBA

Identity of the person(s) from whom the shares were acquired or to whom they were sold

Name	Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
Palawan Cove Corporation	Palawan Cove Corporation is a wholly-owned subsidiary of DWC

Effect(s) on the business, financial condition and operations of the Issuer, if any
This acquisition will help augment working capital and create opportunities for expansion of the Corporation's resort business.
Other Relevant Information
This amendment reflects additional information on the increase in subscription by DWC of Ten Million (10,000,000) shares of Palawan Cove Corporation. The current outstanding capital stock of Palawan Cove Corporation is Eighty Million (80,000,000) shares. With the additional subscription of Discovery World Corporation of Ten Million (10,000,000) shares, the resulting outstanding capital stock would be Ninety Million (90,000,000) shares.