EX-8 2 phi-ex8_9.htm EX-8 phi-ex8_9.htm

EXHIBIT 8

 

PLDT Inc.

Subsidiaries as at December 31, 2018

Our consolidated financial statements include the financial statements of PLDT and the following subsidiaries (collectively, the “PLDT Group”) as at December 31, 2018 and 2017:

 

 

 

 

 

 

 

2018

 

 

2017

 

 

 

Place of

 

 

 

Percentage of Ownership

 

Name of Subsidiary

 

Incorporation

 

Principal Business Activity

 

Direct

 

 

Indirect

 

 

Direct

 

 

Indirect

 

Wireless

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Smart:

 

Philippines

 

Cellular mobile services

 

 

100.0

 

 

 

—

 

 

 

100.0

 

 

 

—

 

Smart Broadband, Inc., or SBI,

   and Subsidiary

 

Philippines

 

Internet broadband

   distribution services

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

Primeworld Digital Systems, Inc.,

   or PDSI

 

Philippines

 

Internet broadband

   distribution services

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

I-Contacts Corporation

 

Philippines

 

Operations support servicing

   business

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

Smart Money Holdings Corporation,

   or SMHC(a)

 

Cayman Islands

 

Investment company

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

Far East Capital Limited, or

   FECL, and Subsidiary, or FECL

   Group(a)

 

Cayman Islands

 

Cost effective offshore

   financing and risk

   management activities

   for Smart

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

PH Communications Holdings Corporation,

   or PHC

 

Philippines

 

Investment company

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

Connectivity Unlimited Resource

   Enterprise, or CURE

 

Philippines

 

Cellular mobile services

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

Francom Holdings, Inc., or FHI

 

Philippines

 

Investment company

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

Chikka Holdings Limited, or

   Chikka, and Subsidiaries, or

   Chikka Group(a)

 

British Virgin

Islands

 

Content provider, mobile

   applications development

   and services

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

Wifun, Inc., or Wifun

 

Philippines

 

Software developer and selling

   of WiFi access equipment

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

Telesat, Inc.(a)

 

Philippines

 

Satellite communications

   services

 

 

100.0

 

 

 

—

 

 

 

100.0

 

 

 

—

 

ACeS Philippines Cellular Satellite

   Corporation, or ACeS Philippines

 

Philippines

 

Satellite information and

   messaging services

 

 

88.5

 

 

 

11.5

 

 

 

88.5

 

 

 

11.5

 

Digitel Mobile Philippines, Inc., or DMPI,

   (a wholly-owned subsidiary of Digitel)

 

Philippines

 

Cellular mobile services

 

 

—

 

 

 

99.6

 

 

 

—

 

 

 

99.6

 

Fixed Line

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PLDT Clark Telecom, Inc., or ClarkTel

 

Philippines

 

Telecommunications services

 

 

100.0

 

 

 

—

 

 

 

100.0

 

 

 

—

 

PLDT Subic Telecom, Inc., or SubicTel

 

Philippines

 

Telecommunications services

 

 

100.0

 

 

 

—

 

 

 

100.0

 

 

 

—

 

PLDT Global Corporation, or PLDT Global,

   and Subsidiaries

 

British Virgin

Islands

 

Telecommunications services

 

 

100.0

 

 

 

—

 

 

 

100.0

 

 

 

—

 

Smart-NTT Multimedia, Inc.(a)

 

Philippines

 

Data and network services

 

 

100.0

 

 

 

—

 

 

 

100.0

 

 

 

—

 

PLDT-Philcom, Inc., or Philcom, and

   Subsidiaries, or Philcom Group

 

Philippines

 

Telecommunications services

 

 

100.0

 

 

 

—

 

 

 

100.0

 

 

 

—

 

Talas Data Intelligence, Inc., or Talas

 

Philippines

 

Business infrastructure and

   solutions; intelligent data

   processing and

   implementation services

   and data analytics insight

   generation

 

 

100.0

 

 

 

—

 

 

 

100.0

 

 

 

—

 

ePLDT, Inc., or ePLDT:

 

Philippines

 

Information and

   communications

   infrastructure for

   internet-based services,

   e-commerce, customer

   relationship management

   and IT related services

 

 

100.0

 

 

 

—

 

 

 

100.0

 

 

 

—

 

IP Converge Data Services,

   Inc., or IPCDSI, and Subsidiary,

   or IPCDSI Group

 

Philippines

 

Information and

   communications

   infrastructure for

   internet-based services,

   e-commerce, customer

   relationship management

   and IT related services

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

Curo Teknika, Inc., or Curo

 

Philippines

 

Managed IT outsourcing

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

ABM Global Solutions, Inc., or AGS, and

   Subsidiaries, or AGS Group

 

Philippines

 

Internet-based purchasing, IT

   consulting and professional

   services

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

ePDS, Inc., or ePDS

 

Philippines

 

Bills printing and other

   related value-added

   services, or VAS

 

 

—

 

 

 

95.0

 

 

 

—

 

 

 

67.0

 

netGames, Inc.(b)

 

Philippines

 

Gaming support services

 

 

—

 

 

 

57.5

 

 

 

—

 

 

 

57.5

 

MVP Rewards Loyalty Solutions, Inc.,
   or MRSI(c)

 

Philippines

 

Full-services customer rewards and loyalty programs

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

—

 

Digitel:

 

Philippines

 

Telecommunications services

 

 

99.6

 

 

 

—

 

 

 

99.6

 

 

 

—

 

Digitel Information Technology Services,

   Inc.(a)

 

Philippines

 

Internet services

 

 

—

 

 

 

99.6

 

 

 

—

 

 

 

99.6

 

PLDT-Maratel, Inc., or Maratel

 

Philippines

 

Telecommunications services

 

 

98.0

 

 

 

—

 

 

 

98.0

 

 

 

—

 

 

 

 

 

 

 

2018

 

 

2017

 

 

 

Place of

 

 

 

Percentage of Ownership

 

Name of Subsidiary

 

Incorporation

 

Principal Business Activity

 

Direct

 

 

Indirect

 

 

Direct

 

 

Indirect

 

Bonifacio Communications Corporation, or BCC

 

Philippines

 

Telecommunications, infrastructure

   and related VAS

 

 

75.0

 

 

 

—

 

 

 

75.0

 

 

 

—

 

Pacific Global One Aviation Company, Inc.,

   or PG1

 

Philippines

 

Air transportation business

 

 

65.0

 

 

 

—

 

 

 

65.0

 

 

 

—

 

Pilipinas Global Network

   Limited, or PGNL, and

   Subsidiaries

 

British Virgin

Islands

 

Internal distributor of Filipino

   channels and content

 

 

64.6

 

 

 

—

 

 

 

64.6

 

 

 

—

 

Others

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PLDT Global Investments Holdings, Inc.,

   or PGIH

 

Philippines

 

Investment company

 

 

100.0

 

 

 

—

 

 

 

100.0

 

 

 

—

 

PLDT Digital Investments Pte. Ltd.,

   or PLDT Digital, and Subsidiaries

 

Singapore

 

Investment company

 

 

100.0

 

 

 

—

 

 

 

100.0

 

 

 

—

 

Mabuhay Investments Corporation,

   or MIC(a)

 

Philippines

 

Investment company

 

 

67.0

 

 

 

—

 

 

 

67.0

 

 

 

—

 

PLDT Global Investments Corporation,

   or PGIC

 

British Virgin

Islands

 

Investment company

 

 

—

 

 

 

100.0

 

 

 

—

 

 

 

100.0

 

PLDT Communications and Energy Ventures,

   Inc., or PCEV

 

Philippines

 

Investment company

 

 

—

 

 

 

99.9

 

 

 

—

 

 

 

99.9

 

Voyager Innovations Holdings, Pte. Ltd.,

   or VIH, (formerly eInnovations Holdings

   Pte. Ltd.)(d):

 

Singapore

 

Investment company

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100.0

 

Voyager Innovations Investments

   Pte. Ltd., or VII, (formerly Takatack

   Holdings Pte. Ltd.)(e)

 

Singapore

 

Investment company

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100.0

 

Voyager Innovations Singapore

   Pte. Ltd., or VIS, (formerly

   Takatack Technologies

   Pte. Ltd.)(f)

 

Singapore

 

Development and

   maintenance of IT-based

   solutions for communications

   and e-Commerce platforms

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100.0

 

Takatack Malaysia Sdn.

   Bhd., or Takatack

   Malaysia

 

Malaysia

 

Development, maintenance

   and support services to

   enable the digital commerce

   ecosystem

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100.0

 

Voyager Innovations, Inc., or Voyager

 

Philippines

 

Mobile applications and digital

   platform developer

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100.0

 

Voyager Innovations Pte. Ltd., or VIP,

   (formerly ePay Investments Pte. Ltd)(g)

 

Singapore

 

Investment company

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100.0

 

PayMaya Philippines, Inc.,

   or PayMaya

 

Philippines

 

Provide and market certain

   mobile payment

   services

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100.0

 

PayMaya Operations

   Philippines, Inc., or

   PayMaya Ops

 

Philippines

 

Market, sell and distribute

   payment solutions and

   other related services

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100.0

 

ePay Investments Myanmar,

   Ltd., or ePay Myanmar(h)

 

Myanmar

 

Investment company

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100.0

 

3rd Brand Pte. Ltd., or 3rd Brand(i)

 

Singapore

 

Solutions and systems

   integration services

 

 

—

 

 

 

—

 

 

 

—

 

 

 

85.0

 

Voyager Fintech Ventures Pte. Ltd., or

   Fintech Ventures

 

Singapore

 

Investment company

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100.0

 

Fintqnologies Corporation,
   or FINTQ

 

Philippines

 

Development of financial

   technology innovations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100.0

 

Fintq Inventures Insurance Agency

   Corporation

 

Philippines

 

Insurance company

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100.0

 

 

 

(a)

Ceased commercial operations.

 

(b)

Ceased commercial operations and under liquidation due to shortened corporate life to August 31, 2015.

 

(c)

On September 14, 2018, MRSI was incorporated and ePLDT made an initial investment of Php50 million.

 

(d)

On July 11, 2017, the Accounting and Corporate Regulatory Authority, or ACRA, of Singapore approved the change in business name of eInnovations Holdings Pte. Ltd. to Voyager Innovations Holdings Pte. Ltd.  On April 16, 2018, the ACRA of Singapore approved the transfer of VIH to PCEV.  On November 28, 2018, upon closing of the subscription agreements of PLDT, Tencent Holdings Limited, or Tencent, and KKR & Co., Inc., or KKR, PCEV’s ownership in VIH was reduced to 53.87% and with only two board seats in the investee, the transaction resulted to a loss of control.  On December 10, 2018, PCEV’s ownership in VIH was further reduced to 48.74% upon receipt of the investments from International Finance Corp., or IFC, and IFC Emerging Asia Fund, or IFC EAF.  PCEV accounts for its remaining interest in VIH as investment in associate starting December 2018.  

 

(e)

On December 29, 2017, the ACRA of Singapore approved the change in business name of Takatack Holdings Pte. Ltd. to Voyager Innovations Investments Pte. Ltd.

 

(f)

On March 6, 2018, the ACRA of Singapore approved the change in business name of Takatack Technologies Pte. Ltd. to Voyager Innovations Singapore Pte. Ltd.

 

(g)

On January 25, 2018, the ACRA of Singapore approved the change in business name of ePay Investments Pte. Ltd. to Voyager Innovations Pte. Ltd.

 

(h)

On July 25, 2017, ePay Investments Myanmar, Ltd. was incorporated in Myanmar to engage in the business of providing support services on the development and provision of digital technology.

 

(i)

On January 15, 2018, VIH purchased from Phenix Investment Management Ltd. (formerly Kolipri Communications Ltd.) its 15% minority interest of 3rd Brand for a consideration of SG$1.00.