EDC PR 2016 (FS section)
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Financial Statement<br />
various risk of the Plan. The Company’s current investment strategy is suited for an investor with<br />
a conservative investment risk profile.<br />
The fair value of plan assets by each class at end of the reporting period follows:<br />
<strong>2016</strong> 2015<br />
Investments quoted in active market<br />
Quoted equity investments (by industry)<br />
Industrial - electricity, energy, power<br />
and water ₱307,863,999 ₱319,181,628<br />
Holding firms 290,575,185 284,197,844<br />
Property 59,828,279 64,352,837<br />
Industrial - food, beverage, and tobacco 39,501,280 29,968,071<br />
Services - casinos and gaming 26,309,663 4,993,720<br />
Services - telecommunications 22,092,825 41,375,100<br />
Retail 9,642,353 9,560,786<br />
Mining 7,678,000 11,135,500<br />
Golf and country club 5,160,000 3,918,333<br />
Financials - banks 459,410 73,580,947<br />
Industrial - construction, infrastructure<br />
and allied services 351,322 9,880,556<br />
Transportation services – 19,855,110<br />
769,462,316 872,000,432<br />
Quoted debt instruments<br />
Corporate bonds 429,284,189 422,208,482<br />
Government securities 308,239,391 676,606,415<br />
737,523,580 1,098,814,897<br />
Unquoted investments<br />
Cash and cash equivalents 422,739,172 502,342,100<br />
Receivables and other assets 18,349,004 50,811,769<br />
441,088,176 553,153,869<br />
Fair value of plan assets ₱1,948,074,072 ₱2,523,969,198<br />
Cash and cash equivalents include savings and time deposits. Quoted equity investments pertain<br />
to listed shares in PSE. The classification by industry of quoted shares presented above is based<br />
on sector classification published by the PSE. Government securities pertain to ROP bonds, while<br />
corporate bonds are debt instruments issued by domestic companies rated Aaa based on the latest<br />
credit rating published by Philippine Rating Services Corporation in <strong>2016</strong>. Government securities<br />
and corporate bonds are both traded in PDEx.<br />
As of December 31, <strong>2016</strong> and 2015, investments in equity securities consist of investments in the<br />
following securities:<br />
Issuer Relationship <strong>2016</strong> 2015<br />
First Gen Corp. Under common control ₱299,008,580 ₱301,814,754<br />
Lopez Holdings Corp - do - 288,810,600 163,965,780<br />
First Phil Holdings - do - 8,793,729 8,424,626<br />
ABS-CBN Holdings - do - – 1,652,145<br />
Others 172,849,407 396,143,127<br />
Fair value of plan assets ₱769,462,316 ₱872,000,432<br />
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