PCEV

PLDT Communications and Energy Ventures, Inc. (PCEV) was incorporated in the Philippines with limited liability on July 18, 1968, and is listed on the Philippine Stock Exchange (PSE) in July 1995. Until 1991, PCEV’s sole business was providing fixed line telecommunications services in eight (8) cities and municipalities in the Philippines. In April 2000, PCEV launched a digital prepaid cellular service, under the Talk ‘N Text brand, using the Global System for Mobile Communications (GSM) p... latform of Smart Communications, Inc. (Smart). In June 2008, PCEV transferred its fixed line business to Philippine Long Distance Telephone Company (PLDT), a company incorporated in the Philippines, and its GSM business to Smart in August 2009. PCEV was previously known as Pilipino Telephone Corporation until May 25, 2010 when the Philippine Securities and Exchange Commission (SEC) approved the change in its corporate name, as well as other amendments to the Company’s Articles of Incorporation as discussed in the section below on Amendments to Articles of Incorporation. PCEV is 99.5 percent-owned by Smart as of December 31, 2010. Smart is wholly owned and controlled by PLDT. As a result of outsourcing all its activities to PLDT and its subsidiaries (collectively, the PLDT Group), aside from its officers, PCEV has no employees as of December 31, 2010 and 2009.More