Philippines Holding Firms Sector Stocks

SM Investments Corporation (SM) was incorporated on January 15, 1960 to serve as the holding company of the SM Group with interests in retail, property and banking. The Company is engaged in businesses through its subsidiaries, namely: retail ("The SM Store", SM Supermarket, SM Hypermarket, SaveMore, Walter Mart Supermarket, Inc., and Alfamart); property (SM Prime Holdings, Inc. and SM Development Corporation); and financial services (BDO Unibank, Inc. and China Banking Corporation). The Company also has equity investments in other sectors such as premium commercial buildings (Neo Office Ph, Philippine Urban Living Solutions and CityMall Commercial Centers Inc.); leisure (Belle Corporation), logistics (2Go Group, Inc. and GrabPay JV), food (Goldilocks) and mining (Atlas Consolidated Mining & Development Corporation).Source: SEC Form 17-A (2019)

Ayala Corporation (AC) was founded in 1834, incorporated on January 23, 1968, and was listed on the Philippine Stock Exchange in 1976. AC is the holding company of the Ayala Group of Companies, with principal business interests in real estate and hotels; financial services and insurance; telecommunications; water infrastructure; electronics solutions and manufacturing; power generation; transport infrastructure; automotive; international real estate; healthcare; education; and technology ventures.The significant subsidiaries of AC as of December 31, 2019 are Ayala Land, Inc.; Manila Water Company, Inc.; Integrated Micro-Electronics, Inc.; AC Energy, Inc.; and AC Industrial Technology Holdings Inc. At present, AC is 47.33% owned by Mermac, Inc., a private holding company incorporated in the Philippines and the rest by the public.Source: SEC Form 17-A (2019)

San Miguel Corporation (SMC) was originally founded in 1890 as a single brewery in the Philippines. The Company has since then transformed itself from a beverage, food and packaging business into a diversified conglomerate with businesses in fuel and oil, energy, infrastructure, and real estate industries. The Company's product portfolio includes beer; spirits; non-alcoholic beverages; poultry; animal feeds; flour; fresh and processed meats; dairy products; coffee; various packaging products; and a range of refined petroleum products. SMC has strategic partnerships with international companies, among them are Kirin Holdings Company, Limited for beer; Hormel Foods International Corporation for processed meats; Nihon Yamamura Glass Company, Ltd., Fuso Machine & Mold Mfg. Co. Ltd. and Can-Pack S.A. for packaging products; and Korea Water Resources Corporation for its power business.The Company's subsidiaries include Ginebra San Miguel, Inc.; San Miguel Food and Beverage, Inc.; SMC Global Power Holdings Corp.; SEA Refinery Corporation; San Miguel Holdings Corp.; and San Miguel Properties, Inc. Source: SEC Form 17-A (2019)

Aboitiz Equity Ventures, Inc. (AEV) was originally incorporated on September 11, 1989 as Cebu Pan Asian Holdings, Inc. The Company changed its corporate name to the present one on December 29, 1993 and its ownership was opened to the general public through an initial public offering of its stocks on November 16, 1994. AEV's core businesses, conducted through its subsidiaries and affiliates, are grouped into six main categories: power generation, distribution and retail electricity supply; financial services; food manufacturing; real estate; infrastructure; and portfolio investments. The Company's other investments include holdings in aviation through AEV Aviation, Inc.; underwriting of its insurable risks through Archipelago Insurance Pte. Ltd.; and portfolio investments abroad through AEV International Pte. Ltd. Source: SEC Form 17-A (2019)

JG Summit Holdings, Inc. (JGS), which is controlled by the Gokongwei family, was incorporated in November 1990 as the holding company for a group of companies with substantial business interests in foods; agro-industrial and commodities; real estate and hotel; air transportation; banking; and petrochemicals. The Company also has core investments in telecommunications and power generation and distribution. The Company was listed on the Philippine Stock Exchange in 1993. The Company conducts its businesses throughout the Philippines, but primarily in and around Metro Manila and in the regions of Luzon, Visayas and Mindanao. JGS, through its subsidiaries, also have branded foods businesses in the People's Republic of China, ASEAN and Oceania (New Zealand and Australia regions), and a core investment in a property development company in Singapore. Among JGS' subsidiaries are JG Summit Petrochemical Corp.; CP Air Holdings Inc.; Universal Robina Corporation; Robinsons Land Corporation; and Robinsons Bank Corporation. The Company also holds 8.0% interest in PLDT Inc., 29.6% interest in Manila Electric Company, and 30.0% interest in Global Business Power Corporation. Source: SEC Form 17-A (2019)

DMCI Holdings, Inc. (DMC) was incorporated on March 8, 1995 as a holding company to consolidate all construction business, construction component companies, and related interests of the Consunji family. The Company was listed on the Philippine Stock Exchange on December 18, 1995. In only a few years after incorporation, the Company expanded its business organization to include five major subsidiaries, namely: D.M. Consunji, Inc.; DMCI Project Developers, Inc.; Semirara Mining and Power Corporation; DMCI Power Corporation; and DMCI Mining Corporation. DMC and its subsidiaries are engaged in general construction, coal and nickel mining, power generation, real estate development, water concession and manufacturing.The Company has a 25% indirect ownership in Maynilad Water Services, Inc. through Maynilad Water Holding Company, Inc., a consortium with Metro Pacific Investments Corporation and Marubeni Philippines Corp. Source: SEC Form 17-A (2019)

GT Capital Holdings, Inc. (GTCAP) was incorporated on July 26, 2007 as a holding company. GTCAP is the primary vehicle for the holding and management of the diversified business interests of the Ty family in the Philippines. The Company holds interests in banking; automotive assembly; importation; distribution and financing; property development; life and non-life insurance; and infrastructure and utilities. GTCAP's subsidiaries are Federal Land, Inc.; Toyota Motor Philippines Corporation; Toyota Manila Bay Corp.; and GT Capital Auto Dealership Holdings, Inc. The Company also has significant shareholdings in Metropolitan Bank & Trust Company; Metro Pacific Investments Corporation; Philippine AXA Life Insurance Corporation; Toyota Financial Services Philippines Corporation; and Sumisho Motor Finance Corporation.Source: SEC Form 17-A (2019)

LT Group, Inc. (LTG), formerly Tanduay Holdings, Inc. (THI), was incorporated on May 25, 1937 under the name The Manila Wine Merchants, Inc. to engage in the trading business. The Securities and Exchange Commission (SEC) approved the change in corporate name to Asian Pacific Equity Corporation on September 22, 1995 and the change of its primary purpose to that of a holding company. On November 10, 1999, the corporate name was again changed to THI. On September 28, 2012, the SEC approved the change in the corporate name to the present one.After a series of restructuring activities in 2012 and 2013, LTG expanded and diversified its investments to include the beverages; tobacco; property development; and banking businesses. The Company's subsidiaries and associates are Tanduay Distillers, Inc.; Asia Brewery, Incorporated; Fortune Tobacco Corporation; Philippine National Bank; Saturn Holdings, Inc.; Paramount Landequities, Inc.; and Eton Properties Philippines, Inc.Source: SEC Form 17-A (2019)

Alliance Global Group, Inc. (AGI) was incorporated on October 12, 1993 and listed its shares on the Philippine Stock Exchange on April 19, 1999. AGI began operations in 1994 as a glass-container manufacturer after it acquired a glass manufacturing plant in Canlubang, Laguna. In 1999, the Company obtained approval from the Securities and Exchange Commission to broaden its primary business into that of a holding company. AGI is presently engaged in the business of property development, food and beverage manufacture and distribution, quick service restaurants and integrated tourism development. AGI began diversifying into infrastructure in 2017 and, in 2018, received an original proponent status for its Skytrain monorail project and its consortium airport project.AGI's subsidiaries are Emperador Inc.; Megaworld Corporation; Travellers International Hotel Group, Inc.; Golden Arches Development Corporation; and Infracorp Development, Inc.Source: SEC Form 17-A (2019)

Filinvest Development Corporation (FDC) was incorporated on April 27, 1973, and in 1984, the Gotianun family consolidated their real estate interests in FDC after divesting their shares in two family-owned banks, namely, Family Bank and Trust Company and the Insular Bank of Asia and America. By 1990, the Company expanded its product line to include the construction and sale of low-cost and medium-cost housing units. The product line was further extended to include the development of commercial district, leisure projects such as farm estates and sports clubs, and construction of residential and office condominiums. Through its subsidiaries, the Company is also involved in mall, theater, and resort hotel operations, banking and financial services, sugar farming and milling, and power generation. Among FDC’s operating hospitality projects are the Crimson Resort and Spa in Mactan and Boracay, Crimson Hotel in Filinvest City, Alabang, Quest Hotel and Conference Centers in Cebu and Clark, and Mimosa Golf in Clark.Presently, FDC's subsidiaries include Filinvest Alabang, Inc.; Filinvest Land, Inc.; Chroma Hospitality, Inc.; Filinvest Hospitality Corporation; Mactan Seascapes Services, Inc.; East West Banking Corporation; Pacific Sugar Holdings Corporation; FDC Utilities, Inc.; Filinvest Development Cayman Islands; and Countrywide Water Service, Inc., among others.Source: SEC Form 17-A (2019)