Philippines Services Sector Stocks

International Container Terminal Services, Inc. (ICT) was incorporated on December 24, 1987 to operate, manage and develop the Manila International Container Terminal (MICT), which handles international container cargo at the Port of Manila. In May 1988, the Philippine Ports Authority awarded to ICT a concession to be the exclusive operator of MICT for a period of 25 years. ICT started operating MICT on June 12, 1988. ICT's concession contract for MICT was extended for another 25 years up to May 18, 2038. The principal business of ICT is the operation, management, development and acquisition of container terminals. The primary mechanism for the operation of these terminals is long-term concession agreements with local port authorities and governments through ICT and its subsidiaries. ICT and its subsidiaries also provide ancillary services such as storage, container stripping and stuffing, inspection, weighing and services for refrigerated containers or reefers, as well as roll-on/roll-off and anchorage services to non-containerized cargoes or general cargoes on a limited basis.Currently, the ICT group is involved in 31 terminal concessions and port development projects in 18 countries worldwide. There are ten terminal operations, including an inland container terminal and a barge terminal, in the Philippines, two each in Indonesia, Papua New Guinea and Brazil; and one each in China, Ecuador, Poland, Georgia, Madagascar, Croatia, Pakistan, Honduras, Mexico, Iraq, Argentina, DR Congo, Colombia and Australia; and an existing concession to construct, develop and operate a port in Tuxpan, Mexico.Source: SEC Form 17-A (2019)

PLDT Inc. (TEL), formerly Philippine Long Distance Telephone Company, was incorporated on November 28, 1928 following the merger of four telephone companies under US ownership. In 1967, effective control of TEL was sold by General Telephone and Electronics Corporation to a group of Filipino businessmen. Over the period 1998 to 2011, Philippine Telecommunications Investment Corporation, Metro Pacific Resources Inc.  (both of which are Philippine affiliates of First Pacific Company), NTT DOCOMO, INC., NTT Communications Corporation, and JG Summit Group acquired significant ownership of the common shares of TEL.  On July 29, 2016, the Securities and Exchange Commission approved the change in corporate name to the present one. TEL is an integrated telecommunications service provider in the Philippines with its business activities categorized into three units: wireless, fixed line, and others. The Company operates the Philippines' most extensive fiber optic backbone and fixed line, and cellular network. The Company's wireless services are marketed under the "Smart", "TNT", and "Sun Cellular" brands, while its fixed line services are marketed under "PLDT HOME" and "PLDT ENTERPRISE."Under its subsidiary, ePLDT, Inc., TEL operates 10 data centers nationwide, under the "VITRO" brand.One of its direct subsidiaries, Voyager Innovations, Inc., operates digital platforms, one of which enables mobile payments under the "PAYMAYA" brand.TEL's subsidiaries include, among others, Smart Communications, Inc.; PLDT Clark Telecom, Inc.; PLDT Subic Telecom, Inc.; PLDT Global Corporation; PLDT-Philcom, Inc.; PLDT-Maratel, Inc.; Bonifacio Communications Corporation; Digital Telecommunications Corporation Phils, Inc.; PLDT Global Investments Holdings, Inc.; and PLDT Digital Investments Pte Ltd.TEL's common shares are listed and traded on the PSE, while the Company's American Depositary Shares are listed and traded on the New York Stock Exchange in the US (NYSE: PHI).Source: The Company (2020)

Globe Telecom, Inc. (GLO) was originally incorporated on January 16, 1935 as Globe Wireless Limited with a franchise to operate wireless long distance message services in the Philippines. The Company eventually changed its name to the present one in 1992, and welcomed Singapore Telecom, Inc. as a new foreign partner the following year. GLO is a telecommunications company that provides digital wireless communication services nationwide under the "Globe Postpaid", "Globe Prepaid", and "TM" brands using a fully digital network. The Company also offers domestic and international long distance communication services or carrier services. On May 30, 2016, the Board of GLO approved the acquisition of 50% of Vega Telecom, Inc. (VTI) from San Miguel Corporation, with Philippine Long Distance Telephone Company acquiring the remaining 50% interest. VTI owns an equity stake in Liberty Telecom Holdings, Inc. (LIB) as well as in enfranchised companies including Bell Telecommunication Philippines, Inc.; Eastern Telecom Philippines, Inc.; Express Telecom, Inc.; and Tori Spectrum Telecom, Inc., among others.On June 21, 2016, GLO exercised its rights as holder of 50% equity interest of VTI to cause VTI to propose the conduct of a tender offer on the common shares of LIB held by minority shareholders as well as the voluntary delisting of LIB. At the completion of the tender offer and delisting of LIB, VTI’s ownership of LIB is at 99.1%.The Company's subsidiaries are composed of Innove Communications, Inc.; GTI Business Holdings, Inc.; Kickstart Ventures, Inc.; Asticom Technology, Inc.; Globe Capital Venture Holdings, Inc.; Bayan Telecommunications, Inc.; TaoDharma Inc.; GTowers Inc.; Yondu, Inc.; and Electronic Commerce Payments, Inc.Source: SEC Form 17-A (2019)

Puregold Price Club, Inc. (PGOLD) was incorporated on September 8, 1998 as a company involved in the business of trading goods such as consumer products on a wholesale and retail basis. The Company opened its first store in Mandaluyong City in December 1998. PGOLD's loyalty program, "Tindahan ni Aling Puring", was launched in 2004. The Company conducts its operations through several retail formats and store brands. Hypermarkets, through "Puregold Price Club", offer a variety of food and non-food products and generally cater to both retail customers and resellers such as members of the Company's loyalty program. Supermarkets, through "Puregold Junior", operate as a neighborhood store which offers a higher proportion of food to non-food products vis-a-vis the Company's hypermarkets. Discounters, through "Puregold Extra", operate in a small store format that offers a more limited number of goods. Meanwhile, S&R Membership Shopping adopts a warehouse club concept where most of the products offered are in club packs. Majority of the merchandise are imported brand names mostly sourced from the US.Among others, PGOLD also owns Estenso Equities, Inc., which is the holding company for two companies, namely, Ayagold Retailers, Inc. and San Roque Supermarkets. PPCI Subic, Inc. is operating one Puregold branch in Subic Bay, Olongapo City. In 2018, PGOLD incorporated Purepadala, Inc. mainly to operate the remittance operation of the Company. By the end of 2019, PGOLD was operating a total of 229 hypermarkets, 102 supermarkets, 28 extras, 19 minimarts, 18 S&R warehouse clubs, and 38 S&R Quick Service Restaurants, for a total of 434 stores all over the country.Source: SEC Form 17-A (2019)

PAL Holdings, Inc. (PAL) was originally incorporated on May 10, 1930 as Baguio Gold Mining Company. On September 23, 1996, the Securities and Exchange Commission (SEC) approved the change in the Company's name to Baguio Gold Holdings Corporation and the change in its primary purpose to that of a holding company. On January 19, 2007, the SEC approved another change in corporate name to the present one. The Company and its subsidiaries are primarily engaged in air transport of passengers and cargo within the Philippines and between the Philippines and several international destinations. The Group operates through its major subsidiaries: Philippine Airlines Inc., the Philippine national flag carrier, and Air Philippines Corporation, a subsidiary under common control that was indirectly acquired through Zuma Holdings Management Corporation in 2017.In February 2019, ANA Holdings, Inc., the parent company of All Nippon Airways, acquired a 9.5% equity ownership in PAL.Source: The Company (2020)/SEC Form 17-A (2019)

Leisure and Resorts World Corporation (LR) was originally incorporated on October 10, 1957 as Atlas Fertilizer Corporation and engaged in fertilizer and industrial chemicals production. As part of its corporate restructuring in 1996, LR's primary purpose was amended in 1999 to engage in realty development focusing on leisure business.Among LR's subsidiaries is AB Leisure Exponent, Inc. (ABLE), which provides amusement and recreation to the public in traditional, electronic, pulltabs and rapid bingo games. As of December 31, 2018, ABLE and its subsidiaries/affiliates operate around 10,536 machines were installed in 153 affiliated bingo parlors. The Company also owns 100% of Total Gamezon Xtreme, Inc., which is the assignee and purchaser of the assets, rights, and interests of Digiwave Solutions, Inc., which in turn is the operator and licensee of PAGCOR eGames stations.LR's other direct subsidiaries include Blue Chip Gaming and Leisure Corporation; First Cagayan Leisure & Resort Corporation; LR Data Center Solutions Inc.; AB Leisure Global, Inc.; LR Land Developers, Inc.; Bingo Bonanza (HK) Limited; Prime Investment Korea, Inc.; and Hotel Enterprises of the Philippines, Inc.Source: SEC Form 17-A (2019)

Converge Information and Communications Technology Solutions, Inc. (CNVRG) was registered with the Securities and Exchange Commission on October 17, 2007 primarily to construct, install, maintain and operate in the Philippine information and communications system. In 2008, the Company was granted a congressional franchise under Republic Act No. 9707 with a term of 25 years effective until August 2034. CNVRG commenced fixed broadband internet operations in June 2012.CNVRG offers fixed broadband internet services to residential and enterprise customers. The fiber broadband plans are under the brands, "FiberX", "FiberXtreme", "MicroBiz", and "Air Internet". The Company also provides private data network solutions, cloud and colocation services and other connectivity solutions to enterprises of varying sizes, industries and types. In addition, the Company offers add-on products and services such as speed boosts and pay TV.As of June 30, 2020, CNVRG's domestic network spanned over 35,000 kilometers, covering 200 cities and municipalities across Luzon (including Metro Manila) and reaching approximately 4.1 million homes. Source: Prospectus (2020)

Philippine Seven Corporation (SEVN) was registered with the Securities and Exchange Commission (SEC) on November 23, 1982. The Company acquired from Seven Eleven, Inc. of Dallas, Texas the license to operate 7-Eleven stores in the Philippines on December 13, 1982. SEVN opened its first store in February 1984 at the corner of Kamias Road and EDSA Quezon City, Metro Manila. In July 1988, SEVN transferred its Philippine area license to operate 7-Eleven stores to its affiliate, Phil-Seven Properties Corporation (PSPC), together with some of its store properties, in exchange for shares of stock of PSPC. In May 1996, the stockholders of both SEVN and PSPC approved the merger of the two companies, with the SEC subsequently approving the merger in October that same year. PSPC was then absorbed by SEVN as the surviving entity.SEVN and its subsidiaries are primarily engaged in the business of retailing, merchandising, buying, selling, marketing, importing, exporting, franchising, acquiring, holding, distributing, warehousing, trading, exchanging, or otherwise dealing in all kinds of grocery items, dry goods, food or foodstuffs, beverages, drinks, and all kinds of consumer needs or requirements and in connection therewith, operating or maintaining warehouses, storages, delivery vehicles and similar or incidental facilities. The Company is also engaged in the management, development, sale, exchange, and holding for investment or otherwise of real estate of all kinds, including buildings, houses, and apartments and other structures.As of December 31, 2019, the Company is operating 2,864 stores, 1,577 of which are franchise stores and the remaining 1,287 are Company-owned. Source: SEC Form 17-A (2019)

Asian Terminals, Inc. (ATI), formerly known as Marina Port Services, Inc., was incorporated on July 9, 1986 to provide general services with respect to the operation and management of port terminals in the Philippines. In August 1990, a consortium of local and foreign companies acquired all the issued and outstanding capital stock of ATI. ATI manages and operates the South Harbor pursuant to the contract for cargo handling and related services granted by the Philippine Ports Authority effective until May 2038. The services offered by the Company at the South Harbor include container terminal handling arrastre, stevedoring, storage, cranage, domestic cargo handling and passenger terminal operations, international container freight station and equipment services. The Company likewise manages and operates the Inland Clearance Depot in Manila, which is an extension of the Port of Manila and as a customs bonded facility. ATI also operates through its subsidiaries ATI Batangas Inc. (ATIB), 99.17% owned, in Port of Batangas, Batangas Container Terminal, and Batangas Supply Base. ATIB operates and manages the Batangas Supply Base within the Port of Batangas under a contract with Shell Philippines Exploration B.V. ATI also owns 35.71% of South Cotabato Integrated Port Services, Inc., the existing cargo handling operator at the Makar Wharf in the Port of General Santos, General Santos City. Source: SEC Form 17-A (2019)

Wilcon Depot, Inc., (WLCON) was incorporated on December 17, 2015 as a home improvement and construction supplies retailer. WLCON is a subsidiary of Wilcon Corporation (WC), formerly Wilcon Builder's Depot, Inc. WLCON officially started operations on April 1, 2016 when the retail operations including all of the retail assets and liabilities were transferred from WC.The Company operates its business and offers its products via two retail formats – the depot store format and the home essentials store format, which are known under the trade names "Wilcon Depot" and "Wilcon Home Essentials", respectively. WLCON has a wide array of product offerings which include local and international brands of tiles and flooring, plumbing and sanitary wares, electrical and lighting products, hardware and tools, furniture, furnishings and houseware, paints, and building materials, among others.The Company currently operates 57 stores nationwide, 50 of which are depots located in major cities in the country, while three are mall-based and four are stand-alone home essentials stores.Source: SEC Form 17-A (2019)