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Republic of the Philippines
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
COLLEGE OF ACCOUNTANCY AND FINANCE
EXECUTIVE SUMMARY
BACKGROUND
MANILA ELECTRIC COMPANY
Manila Electric Company (MER) is a private distribution utility organized on May 7,
1919 which holds a congressional franchise under Republic Act (RA) No. 9209
effective June 28, 2003. RA 9209 granted MER a 25-year franchise valid through
June 28, 2028 to construct, operate, and maintain the electric distribution system in
the cities and municipalities of Bulacan, Cavite, Metro Manila, and Rizal and certain
cities, municipalities, and barangays in the provinces of Batangas, Laguna,
Pampanga, and Quezon.
The principal business of MER is the distribution and sale of electric energy through
its distribution network facilities in its franchise area. The Company's market is
categorized into four classes namely, residential, commercial, industrial, and
streetlights. MER sources the electricity it distributes from eight power suppliers
including the Philippine Electricity Market Corporation.
MER has a unit for its participation in retail electricity supply (RES) with a trade
name, "MPower". The Energy Regulatory Commission granted the following
companies distinct RES licenses to operate as affiliate retail electricity suppliers in
Luzon and Visayas, namely, Vantage Energy Solutions and Management, Inc., a
wholly-owned subsidiary of MER; Solvre, Inc., a wholly-owned subsidiary of
MERALCO PowerGen Corporation; and MeridianX Inc., a wholly-owned subsidiary
of Comstech Integration Alliance, Inc.
Sector
Industrial
Subsector
Electricity, Energy, Power & Water
Incorporation Date
1919-05-07
Corporate Life
50
Extension
No. of Directors
11
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Republic of the Philippines
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
COLLEGE OF ACCOUNTANCY AND FINANCE
kongwei, Jr.
Lance Y. Gokongwei
Elpidio L. Ibañez
Jose Ma. K. Lim
Victorico P. Vargas
Artemio V. Panganiban - Independent Director
Pedro E. Roxas - Independent Director
Officers
President and Chief Executive Officer
Ray C. Espinosa
Corporate Secretary
Betty C. Siy-Yap
SVP and Head - Mpower
Roberto R. Almazora
SVP and Head - Networks
Ronnie L. Aperocho
SVP and President and Chief Executive Officer, Meralco Power Generation Corp.
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Republic of the Philippines
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
COLLEGE OF ACCOUNTANCY AND FINANCE
Rogelio L. Singson
SVP, Chief Legal Counsel, Asst. Corp. Sec., Compliance Ofcr. & Head, Legal and Corp.
Gov. Ofc. & DPO
William S. Pamintuan
VP, Head - Organizational Safety & Resiliency and Bus. Continuity Management
Ireneo B. Acuña
VP and Head - Customer Process
Ferdinand C. Alejandro
VP and Human Resources Business Partner for Networks
Roque D. Bacani
VP, Head - Financial Planning and Reporting
Bennette D. Bachoco
VP, Head - South Distribution Services
Edgardo V. Carasig
VP and Head, Network Technology and Asset Management
Benjamin U. Cusi
VP and and Chief Operating Officer, Radius
Lawrence S. Fernandez
VP, Head - Supply Chain & Logistics Management
Ferdinand O. Geluz
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Republic of the Philippines
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
COLLEGE OF ACCOUNTANCY AND FINANCE
Charina P. Padua
VP and President, Esakay
Raymond B. Ravelo
VP and Head, North Distribution Services
Froilan J. Savet
VP, President & CEO - CIS Bayad Center
Melanie T. Oteyza
FVP, Chief of Staff of the President and CEO and Supply Chain Advisor
Issued Shares
1,127,271,117
Listed Shares
1,127,092,509
Outstanding Shares
1,127,098,705
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Republic of the Philippines
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
COLLEGE OF ACCOUNTANCY AND FINANCE
ISIN
PHY5764J1483
Issue Type
Common
Listing Date
Jan 8, 1992
Status
Open
Board Lot
10
Par Value
10
Foreign Ownership Limit
40%
Year End EPS
20.42
Year End EPS Period
Dec 31, 2018
Interim EPS
10.65
Interim Period
6 months Jun-19
GRAPH OF STOCKS
FINANCIAL STATEMENT
ASSET
CASH
INVESTMENT
EQUITY
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Republic of the Philippines
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
COLLEGE OF ACCOUNTANCY AND FINANCE
APPENDICES
Journal Entries
Value as of purchase
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