eceived SPV Notes amounting to P=2.4 billion for loans from PIO and for ROPOA from PIT. Total loanstransferred to PIO amounted to P=7.5 billion. ROPOA transferred to PIT amounted to P=1.8 billion. The balanceof the consideration received from PIO and PIT amounting to P=90.1 million and P=296.5 million, respectively, isrecorded in Accounts Receivable as of December 31, <strong>2004</strong>.2. On November 23, <strong>2004</strong>, the Parent Company’s BOD approved the issuance of senior bonds.Relative to this, on February 18, 2005 the Parent Company issued US$100 million, 6.5% Subordinated Notesdue 2008 (the Notes). The issuance of the bonds under the terms approved by the BOD was approved by theBSP on January 31, 2005.Among the significant terms and conditions of the issuance of the Notes are:a. Issue price at 99.9% of the principal amount;b. The Notes bear interest at the rate of 6.5% per annum from and including February 18, 2005 to butexcluding February 19, 2008. Interest will be payable semi-annually in arrears on February 19 and August19 of each year, commencing August 19, 2005, except that the first payment of interest will be in respectof the period from and including February 18, 2005 but excluding August 19, 2005;c. The Notes will constitute direct, senior, unconditional, and unsecured obligations of the Parent Companyand claims in respect of the notes shall at all times rank pari passu and without any preference amongthemselves;d. The Parent Company may redeem the Notes in whole but not in part at redemption price equal to 100% ofthe principal amount of the Notes together with accrued and unpaid interest to the date fixed forredemption upon the occurrence of certain changes affecting taxation in the Philippines, as moreparticularly specified in the covering offering circular;e. The 2008 Notes are not guaranteed or insured by the PDIC and are not deposit liabilities of the ParentCompany.3. On January 18, 2005, the Parent Company’s BOD approved the declaration of cash dividends at therate of sixty centavos (P=0.6) per share or P=436.2 million. Such declaration was approved by BSP on April 1,2005.On January 18, 2005, the BOD of PCI Leasing approved the declaration of cash dividends atP=0.2 per share or P=196.6 million in favor of stockholders of record as of February 1, 2005 and stock dividends inthe aggregate amount of P=1.2 billion in favor of stockholders of record as of March 23, 2005. Such declarationwas approved by SEC on March 10, 2005.On January 18, 2005, the BOD of PCI Capital approved the declaration of stock dividends amounting to P=200.0million. Such declaration was approved by BSP on March 10, 2005.On January 24, 2005, the BOD of ECN declared stock dividends amounting to P=475.0 million and cashdividends of P=20 per share or P=300.0 million to all stockholders of record as of February 1, 2005.Schedule BAmounts Receivable from Directors, Officers, Employees, Related Parties and Principal Stockholders (Otherthan Affiliates)Name and Designation of DebtorBalance as of12/31/03Additions Collections Balance as of12/31/04- 78-
BACSAIN AGRI BUSINESS, INC. 1,330,000.00 -120,000.00 1,210,000.00Marilee bacsain / SAM (Elias Bacsain,owner of BABI is the father-in-law of )BERNAD SECURITIES5,500,000.00 4,154,272.22 -4,154,272.22 5,500,000.00Jonathan Go/SVP (Salustiano S. Wong,Chairman, President & GM holds morethan 20% cap stock of Bernard Sec., isthe father-in-law of VP Jonathan Go)BENGUET TRADE- Ferdinand Martin 5,446,380.62 125,996.10 -5,572,376.72Romualdez / Director (Vice ChairmanFerdinand Martin G. Romualdez is adirector of Benguet Trade)EQUITABLE CARD NETWORK366,216,500.00 366,216,500.00INC. – Antonio Go/Chairman(Bank Chairman Antonio Go is also thePresident & Director of ECNI.)GEOLOGISTICS INC.69,456,931.28 26,983,062.20 -96,439,993.48Mr. Fulgencio Factoran / Director(Director of the bank; chairman &stockholder of Geologistic Inc.)*GREENSQUARE PROPERTIES 41,500,000.00 -14,500,000.00Go, John C.B. / Director**HAZAMA PHILIPPINES4,298,691.97 -4,298,691.97Atty. Paulino Yusi/ AVP(HazamaCorporate Sec.Ruby Yusi-the wife ofAtty. Paulino Yusi-Legal dept)**ISI MARKETING307,950.73 -307,950.73Itaas, Conchitina / AM (The husbandand parent-in-law of C. Itaas own 70%of the Company.)**ITA-AS GEN SERVICES324,000.00 884,503.96 -1,208,503.96Itaas, Conchitina / AM (Co. President,Irman Itaas is the husband of Mrs.Conchitina Itaas)MENZI & CO., INC.- Go Pailian, 16,092,041.60 16,031,681.16 -32,123,722.76Peter/ Chairman Emeritus*PHARMACEUTICAL & HEALTH- 1,000,000.00 -1,000,000.00CARE – Wassmer, Walter/EVP,(Mr. Leo P. Wassmer, Jr. EVP & CEOof PHAP is the father of EPCIB EVPWalter Wassmer)SEDGEWICK TRADERS, INC. 12,975,000.00 2,225,000.00 -6,278,333.31 8,921,666.69Patrick Go / VP(George Go who owns more than 20%of STC is the father of AVP Patrick Go)UY, ALBERTO/LUISA-Mary Ann 1,592,404.72 1,152,093.29 -590,613.12 2,153,884.89Uy/Jam (clients are parents of M. Uy)ADVANCES – SUBSIDIARIES 124,987,140.02 -54,144,453.63 70,842,686.39A/R – SUBSIDIARIES 96,071,576.72 -3,305,937.84 92,765,638.88APPLIANCE LOAN 5,746,309.07 801,177.20 -6,547,486.27CAR LOAN 153,803,911.58 14,896,825.76 -45,106,818.56 123,593,918.78EMERGENCY LOAN 59,176.20 -59,176.20HOUSING LOAN 498,346,366.78 6,674,749.66 -54,621,817.88 450,399,298.56MINOR HOUSE RENOVATION 105,328.70 -105328.70MULTI-PURPOSE LOAN 5,553,595.52 -2,764,753.75 2,788,841.77SALARY LOAN 8,252,796.80 943,910.86 -6,810,223.58 2,386,484.08TOTAL PESO LOANS 821,530,647.35 672,308,727.37 -367,060,454.68 1,126,778,920.04*No longer DOSRI as of December 31, <strong>2004</strong>**Accounts excluded from the DOSRI ceilingSchedule CNon-Current Marketable Equity Securities, Other Long-Term Investments in Stock, and Other InvestmentsName of issuing entity & descriptionof investmentBeginningbalanceNo. ofshares orAmount inPesosEquity inearningsOtherDeductionsDistribution ofearnings byOtherEndingbalanceNo. of sharesor principalAmount inPesosDividends receivedfrom investments- 79-
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The Bank’s extensive distribution
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Robinsons Place Dasmariñas 2 Sep-0
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Washington - Gil Puyat 5 May-05-200
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PART II - OPERATIONAL AND FINANCIAL
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ITEM 6. MANAGEMENT’S DISCUSSION A
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Prospects for the FutureThe Bank’
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Society Dialogue) and Member of the
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Specific slots for independent dire
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Grace A. Sumalpong, 48, is Senior V
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ITEM 11.SECURITY OWNERSHIP OF CERTA
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- Page 48 and 49: Receivables from customers also inc
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- Page 66 and 67: and claims of holders of all classe
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