December 2009

Top 50 Companies – Net Income Vol. III, No. 4

Net Income1 2009 vs. Revenues Stockholders'
Rank Co. Assets Liabilities ROA ROE3 EPS BV
Rank Company* Sector 2009 2008 2009 Equity2
2008 Code (%) (%) (in PhP) (in PhP)
(in mil PhP) % change (in mil PhP) (in million pesos)
1 2 SAN MIGUEL CORPORATION SMC Ind'l 57,799.00 198.7 233,648.00 438,491.00 197,553.00 240,938.00 13.18 27.03 25.25 93.41
2 1 PHIL. LONG DISTANCE TELEPHONE CO. TEL Svcs 39,781.00 14.9 152,512.00 280,148.00 181,023.00 99,125.00 14.20 40.36 212.96 527.71
3 4 PILIPINO TELEPHONE CORPORATION PLTL Svcs 17,856.60 57.4 2,091.10 33,494.30 1,062.40 32,431.90 53.31 55.06 1.53 2.78
4 3 SM INVESTMENTS CORPORATION SM Hldg. 16,025.04 14.4 163,943.30 341,644.42 175,919.15 165,725.27 4.69 12.84 26.23 204.24
5 5 GLOBE TELECOM, INC. GLO Svcs 12,568.87 11.5 65,806.81 127,643.53 79,934.61 47,708.91 9.85 26.34 94.97 360.49
6 18 BENPRES HOLDINGS CORPORATION BPC Hldg. 11,901.00 307.6 37,411.00 54,031.00 24,403.00 29,628.00 22.03 52.65 2.60 4.93
7 6 SAN MIGUEL BREWERY, INC. SMB Ind'l 10,033.00 (0.1) 51,547.00 64,090.00 44,172.00 19,918.00 15.65 50.37 0.65 1.29
8 228 JG SUMMIT HOLDINGS, INC. JGS Hldg. 8,545.64 1,332.0 112,051.91 277,880.00 172,985.50 104,894.49 3.08 10.28 1.26 12.23
9 8 BANK OF THE PHILIPPINE ISLANDS BPI Fin'ls 8,516.00 32.6 49,096.00 724,420.00 656,655.00 67,765.00 1.18 12.75 2.62 20.57
10 37 FIRST PHILIPPINE HOLDINGS CORP. FPH Ind'l 8,510.00 613.9 68,978.00 148,806.00 88,920.00 59,886.00 5.72 22.12 14.32 64.73
11 13 ABOITIZ EQUITY VENTURES, INC. AEV Hldg. 8,306.87 101.6 53,177.11 143,280.81 88,638.60 54,642.21 5.80 18.58 1.50 8.09
12 7 AYALA CORPORATION AC Hldg. 8,154.35 0.6 76,293.82 232,479.04 97,060.89 135,418.15 3.51 7.97 16.36 205.21
13 9 SM PRIME HOLDINGS, INC. SMPH Prop 7,023.35 9.5 20,921.16 97,860.08 49,829.78 48,030.30 7.34 15.18 0.54 3.55
14 29 BANCO DE ORO UNIBANK, INC. BDO Fin'ls 6,035.00 176.6 64,293.00 862,049.00 794,162.00 67,887.00 0.70 8.97 2.58 28.74
15 11 METROPOLITAN BANK & TRUST CO. MBT Fin'ls 6,028.89 36.8 60,714.80 854,306.96 773,988.71 80,318.25 0.71 8.01 3.34 41.62
16 24 MANILA ELECTRIC COMPANY MER Ind'l 6,005.00 114.5 190,486.00 172,129.00 110,983.00 61,146.00 3.49 10.47 5.33 50.89
17 206 UNIVERSAL ROBINA CORPORATION URC Ind'l 5,977.99 5,593.1 53,542.68 62,854.59 25,607.63 37,246.95 9.51 16.36 2.89 17.65
18 12 ABOITIZ POWER CORPORATION AP Ind'l 5,658.58 30.6 26,933.03 111,340.72 76,293.79 35,046.93 5.08 16.41 0.77 4.69
19 14 ALLIANCE GLOBAL GROUP, INC. AGI Hldg. 4,796.31 22.7 38,843.46 128,336.72 46,235.81 82,100.91 3.74 9.35 0.49 5.28
20 33 DMCI HOLDINGS, INC. DMC Hldg. 4,682.52 177.4 32,495.03 57,638.30 34,244.46 23,393.84 8.12 22.88 1.76 7.71
21 31 UNION BANK OF THE PHILIPPINES UBP Fin'ls 4,325.00 109.1 17,769.85 244,361.32 213,080.97 31,280.35 1.77 13.83 6.74 48.77
22 233 PETRON CORPORATION PCOR Ind'l 4,238.00 206.5 177,333.00 113,193.00 75,658.00 37,535.00 -3.01 -9.14 (0.36) 3.98
23 19 CHINA BANKING CORPORATION CHIB Fin'ls 4,100.42 40.7 17,514.34 234,035.62 203,667.12 30,368.50 1.75 13.52 42.05 311.09
24 15 MEGAWORLD CORPORATION MEG Prop 4,055.40 7.5 17,758.66 85,253.77 35,418.06 49,835.72 4.76 8.26 0.16 1.92
25 10 AYALA LAND, INC. ALI Prop 4,039.26 (16.1) 30,455.24 108,071.46 48,876.56 59,194.90 3.74 7.71 0.31 4.04
26 22 REPUBLIC CEMENT CORPORATION RCM Ind'l 3,875.52 36.9 18,307.84 26,092.57 9,254.21 16,838.36 14.85 23.26 0.67 2.86
27 16 ROBINSONS LAND CORPORATION RLC Prop 3,454.15 9.7 11,066.57 53,280.24 26,913.53 26,366.71 6.48 13.16 1.26 9.57
28 30 RIZAL COMMERCIAL BANKING CORP. RCB Fin'ls 3,328.38 54.5 22,656.45 288,515.58 257,970.66 30,544.92 1.15 10.90 3.71 34.01
29 35 PNOC ENERGY DEVELOPMENT CORP. EDC Ind'l 3,322.66 154.0 23,761.07 84,774.94 54,443.08 30,331.86 3.92 11.54 0.18 1.54
30 25 MANILA WATER COMPANY , INC. MWC Ind'l 3,231.41 15.9 14,366.65 43,758.41 26,787.68 16,970.73 7.38 19.22 1.61 8.39
31 36 HOLCIM PHILIPPINES, INC. HLCM Ind'l 3,117.04 141.3 21,945.49 24,979.58 6,966.05 18,013.54 12.48 17.31 0.48 2.79
32 28 SECURITY BANK CORPORATION SECB Fin'ls 3,061.66 32.5 11,388.68 146,250.48 127,649.60 18,600.88 2.09 17.22 7.31 42.48
33 20 PHILEX MINING CORPORATION PX Min&Oil 2,830.31 (2.2) 10,443.16 21,378.41 3,694.88 17,683.54 13.24 16.67 0.58 3.47
34 26 GMA NETWORK, INC. GMA7 Svcs 2,818.25 19.0 13,871.97 13,763.45 2,883.33 10,880.12 20.48 25.90 0.84 3.24
35 27 JOLLIBEE FOODS CORPORATION JFC Ind'l 2,664.62 14.9 48,530.46 29,727.49 13,442.29 16,285.21 8.96 16.37 2.58 15.76
36 21 INT’L CONT. TERM. SERVICES, INC. ICT Svcs 2,615.82 (8.4) 25,667.16 58,802.36 34,819.93 23,982.43 4.45 12.31 1.36 11.04
37 115 SAN MIGUEL PUREFOODS CO., INC. PF Ind'l 2,596.96 3,264.2 75,112.11 40,175.87 22,530.62 17,645.25 6.46 17.03 18.39 107.93
38 55 METRO PACIFIC INVESTMENTS CORP. MPI Hldg. 2,299.65 337.6 24,747.69 129,399.84 69,124.20 60,275.64 1.78 4.49 0.12 2.63
39 23 VISTA LAND & LIFESCAPES, INC. VLL Prop 2,299.41 (18.4) 10,812.84 55,072.54 19,688.03 35,384.52 4.18 6.50 0.27 4.14
40 40 PHILIPPINE NATIONAL BANK PNB Fin'ls 2,185.72 97.3 20,521.95 283,299.91 252,311.70 30,988.21 0.77 7.08 3.30 46.59
41 219 PRIME ORION PHILIPPINES, INC. POPI Hldg. 2,089.33 772.0 3,630.51 4,726.52 2,642.74 2,083.79 44.20 103.42 0.88 0.85
42 32 FILINVEST LAND, INC. FLI Prop 2,018.20 8.1 5,683.81 58,904.35 19,726.88 39,177.47 3.43 5.15 0.08 1.62
43 120 SM DEVELOPMENT CORPORATION SMDC Prop 1,860.70 3,173.8 5,745.45 20,654.30 9,717.08 10,937.22 9.01 17.01 0.34 1.99
44 46 SEMIRARA MINING CORPORATION SCC Min&Oil 1,809.56 127.2 12,136.41 23,827.91 13,980.77 9,847.14 7.59 18.38 6.52 35.48
45 17 PNOC EXPLO. CORPORATION PEC Min&Oil 1,795.82 (41.2) 6,819.92 13,498.56 3,498.45 10,000.11 13.30 17.96 0.90 5.00
46 34 ABS-CBN BROADCASTING CORP. ABS Svcs 1,702.40 23.1 25,557.40 34,820.07 18,666.96 16,153.11 4.89 10.61 2.18 20.59
47 77 ALASKA MILK CORPORATION AMC Ind'l 1,409.39 384.2 10,605.87 7,270.91 2,593.51 4,677.41 19.38 30.13 1.59 5.29
48 41 PHILIPPINE SAVINGS BANK PSB Fin'ls 1,240.01 31.9 9,077.78 93,087.83 82,075.69 11,012.14 1.33 11.26 5.16 45.84
49 45 PHILIPPINE TRUST COMPANY PTC Fin'ls 1,192.36 45.8 5,614.94 85,696.49 74,320.13 11,376.36 1.39 10.48 2.06 19.61
50 43 ASIAN TERMINALS, INC. ATI Svcs 1,161.68 36.6 4,307.96 8,007.25 1,964.20 6,043.04 14.51 19.23 0.58 3.02

* The list of companies ranked in the PSE Quarterly Top 50 does not include listed foreign-domiciled companies and companies listed after December 31, 2009.
1
Net Income attributable to parent company shareholders. 2 Stockholders’ Equity refers to consolidated figures. 3 ROE computation uses four-quarter trailing net income and stockholders’
equity attributable to parent company shareholders.
 December 2009
Vol. III, No. 4
Top 50 Companies – Revenues
2009 Stockholders'
Rank Co. 2009 1 Assets Liabilities
Rank Company % change Net Income Equity
2008 Code (in mil PhP)
(in million pesos)
1 3 SAN MIGUEL CORPORATION SMC 233,648.00 27.39 57,799.00 438,491.00 197,553.00 213,817.00
2 2 MANILA ELECTRIC COMPANY MER 190,486.00 (2.49) 6,005.00 172,129.00 110,983.00 57,369.00
3 1 PETRON CORPORATION PCOR 177,333.00 (33.84) 4,238.00 113,193.00 75,658.00 37,291.00
4 4 SM INVESTMENTS CORPORATION SM 163,943.30 6.90 16,025.04 341,644.42 175,919.15 124,795.33
5 5 PHIL. LONG DISTANCE TELEPHONE CO. TEL 152,512.00 (0.14) 39,781.00 280,148.00 181,023.00 98,575.00
6 6 JG SUMMIT HOLDINGS, INC. JGS 112,051.91 8.83 8,545.64 277,880.00 172,985.50 83,157.74
7 7 AYALA CORPORATION AC 76,293.82 (3.56) 8,154.35 232,479.04 97,060.89 102,260.43
8 9 SAN MIGUEL PUREFOODS COMPANY, INC. PF 75,112.11 5.59 2,596.96 40,175.87 22,530.62 15,244.92
9 8 PAL HOLDINGS, INC. PAL 69,318.26 (7.69) 369.58 81,239.41 80,858.82 267.02
10 11 FIRST PHILIPPINE HOLDINGS CORP. FPH 68,978.00 11.70 8,510.00 148,806.00 88,920.00 38,470.00
11 10 GLOBE TELECOM, INC. GLO 65,806.81 (0.24) 12,568.87 127,643.53 79,934.61 47,708.91
12 13 BANCO DE ORO UNIBANK, INC. BDO 64,293.00 14.62 6,035.00 862,049.00 794,162.00 67,252.00
13 14 METROPOLITAN BANK & TRUST COMPANY MBT 60,714.80 9.48 6,028.89 854,306.96 773,988.71 75,225.02
14 16 UNIVERSAL ROBINA CORPORATION URC 53,542.68 9.44 5,977.99 62,854.59 25,607.63 36,548.28
15 19 ABOITIZ EQUITY VENTURES, INC. AEV 53,177.11 31.11 8,306.87 143,280.81 88,638.60 44,697.10
16 15 SAN MIGUEL BREWERY, INC. SMB 51,547.00 5.09 10,033.00 64,090.00 44,172.00 19,918.00
17 17 BANK OF THE PHILIPPINE ISLANDS BPI 49,096.00 6.55 8,516.00 724,420.00 656,655.00 66,798.00
18 12 FIRST GEN CORPORATION FGEN 48,690.74 (13.28) 798.11 100,176.38 62,765.38 30,735.60
19 18 JOLLIBEE FOODS CORPORATION JFC 48,530.46 9.01 2,664.62 29,727.49 13,442.29 16,281.99
20 20 ALLIANCE GLOBAL GROUP, INC. AGI 38,843.46 7.57 4,796.31 128,336.72 46,235.81 51,304.84
21 23 BENPRES HOLDINGS CORPORATION BPC 37,411.00 38.63 11,901.00 54,031.00 24,403.00 22,604.00
22 26 DMCI HOLDINGS, INC. DMC 32,495.03 46.46 4,682.52 57,638.30 34,244.46 20,468.22
23 21 AYALA LAND, INC. ALI 30,455.24 (9.76) 4,039.26 108,071.46 48,876.56 52,392.36
24 34 ABOITIZ POWER CORPORATION AP 26,933.03 68.21 5,658.58 111,340.72 76,293.79 34,475.86
25 22 INT’L CONTAINER TERM. SERVICES, INC. ICT 25,667.16 (10.63) 2,615.82 58,802.36 34,819.93 21,243.86
26 25 ABS-CBN BROADCASTING CORPORATION ABS 25,557.40 9.83 1,702.40 34,820.07 18,666.96 16,049.08
27 46 METRO PACIFIC INVESTMENTS CORP. MPI 24,747.69 119.35 2,299.65 129,399.84 69,124.20 51,265.47
28 24 PNOC ENERGY DEVELOPMENT CORP. EDC 23,761.07 1.09 3,322.66 84,774.94 54,443.08 28,802.10
29 27 RIZAL COMMERCIAL BANKING CORP. RCB 22,656.45 9.09 3,328.38 288,515.58 257,970.66 30,549.20
30 31 HOLCIM PHILIPPINES, INC. HLCM 21,945.49 20.61 3,117.04 24,979.58 6,966.05 18,005.45
31 29 SM PRIME HOLDINGS, INC. SMPH 20,921.16 12.80 7,023.35 97,860.08 49,829.78 47,349.17
32 30 PHILIPPINE NATIONAL BANK PNB 20,521.95 12.32 2,185.72 283,299.91 252,311.70 30,854.71
33 35 GINEBRA SAN MIGUEL, INC. GSMI 19,760.51 27.70 701.25 14,933.63 6,766.84 8,166.79
34 36 REPUBLIC CEMENT CORPORATION RCM 18,307.84 19.78 3,875.52 26,092.57 9,254.21 16,659.39
35 40 UNION BANK OF THE PHILIPPINES UBP 17,769.85 32.56 4,325.00 244,361.32 213,080.97 31,280.35
36 33 MEGAWORLD CORPORATION MEG 17,758.66 2.66 4,055.40 85,253.77 35,418.06 49,111.85
37 37 CHINA BANKING CORPORATION CHIB 17,514.34 19.56 4,100.42 234,035.62 203,667.12 30,334.39
38 32 HOUSE OF INVESTMENTS, INC. HI 15,286.89 (15.22) 557.10 16,279.55 10,150.93 3,627.37
39 43 DIGITAL TELECOMM. PHILS., INC. DGTL 14,860.08 22.16 259.72 83,725.61 82,376.56 1,349.05
40 39 PEPSI-COLA PRODUCTS PHILS., INC. PIP 14,846.04 9.35 947.20 8,499.25 2,940.07 5,559.18
41 38 MANILA WATER COMPANY , INC. MWC 14,366.65 3.77 3,231.41 43,758.41 26,787.68 16,816.90
42 42 GMA NETWORK, INC. GMA7 13,871.97 9.68 2,818.25 13,763.45 2,883.33 10,880.12
43 45 ALLIED BANKING CORPORATION ABC 13,009.23 12.82 1,126.59 188,102.82 164,002.22 18,804.43
44 41 ABOITIZ TRANSPORT SYSTEM CORP. ATS 12,262.13 (6.88) 546.14 10,622.00 5,462.42 5,108.73
45 55 SEMIRARA MINING CORPORATION SCC 12,136.41 40.77 1,809.56 23,827.91 13,980.77 9,847.14
46 48 SECURITY BANK CORPORATION SECB 11,388.68 6.88 3,061.66 146,250.48 127,649.60 17,783.38
47 54 FILINVEST DEVELOPMENT CORPORATION FDC 11,073.62 24.23 1,123.75 154,987.85 94,005.70 46,659.07
48 47 ROBINSONS LAND CORPORATION RLC 11,066.57 (1.55) 3,454.15 53,280.24 26,913.53 26,246.37
49 44 VISTA LAND & LIFESCAPES, INC. VLL 10,812.84 (6.87) 2,299.41 55,072.54 19,688.03 35,384.52
50 51 ALASKA MILK CORPORATION AMC 10,605.87 6.08 1,409.39 7,270.91 2,593.51 4,677.41
1
Net Income attributable to parent company shareholders.
 December 2009
Vol. III, No. 4
Top 50 Companies – Return on Assets Top 50 Companies – Return on Equity
Net Net Stckhldrs'
Co. ROA Assets Co. ROE
Rank Company Income* Rank Company Income* Equity
Code (%) Code (%)
(in million pesos) (in million pesos)
1 SOUTH CHINA RESOURCES, INC. SOC 66.4 1,041.40 1,569.42 1 PRIME ORION PHILIPPINES, INC. POPI 103.4 2,089.33 2,020.20
2 PILIPINO TELEPHONE CORPORATION PLTL 53.3 17,856.60 33,494.30 2 PAL HOLDINGS, INC. PAL 85.6 228.56 267.02
3 ABACUS CONS. RES. & HOLD., INC. ABA 51.7 1,817.55 3,512.82 3 ABACUS CONS. RES. & HOLD., INC. ABA 67.3 1,817.55 2,699.95
4 PRIME ORION PHILIPPINES, INC. POPI 44.2 2,089.33 4,726.52 4 SOUTH CHINA RESOURCES, INC. SOC 66.4 1,041.40 1,567.60
5 CONCRETE AGGREGATES CORPORATION CA 41.1 217.87 529.48 5 PILIPINO TELEPHONE CORPORATION PLTL 55.1 17,856.60 32,431.90
6 PRIME GAMING PHILIPPINES, INC. PGPI 37.1 753.94 2,032.24 6 BENPRES HOLDINGS CORPORATION BPC 52.6 11,901.00 22,604.00
7 PACIFIC ONLINE SYSTEMS CORPORATION LOTO 29.5 264.56 895.57 7 SAN MIGUEL BREWERY, INC. SMB 50.4 10,033.00 19,918.00
8 PHILWEB CORPORATION WEB 26.4 551.20 2,087.19 8 PACIFIC ONLINE SYSTEMS CORPORATION LOTO 49.4 264.56 535.01
9 BENPRES HOLDINGS CORPORATION BPC 22.0 11,901.00 54,031.00 9 PHOENIX PETROLEUM PHILIPPINES, INC. PNX 49.2 751.48 1,528.86
10 SOUTHEAST ASIA CEMENT HOLD., INC. CMT 20.6 1,027.93 4,987.59 10 CONCRETE AGGREGATES CORPORATION CA 43.8 217.87 497.43
11 GMA NETWORK, INC. GMA7 20.5 2,818.25 13,763.45 11 PHIL. LONG DISTANCE TELEPHONE CO. TEL 40.4 39,781.00 98,575.00
12 ALASKA MILK CORPORATION AMC 19.4 1,409.39 7,270.91 12 PRIME GAMING PHILIPPINES, INC. PGPI 39.4 753.94 1,913.96
13 MIC HOLDINGS CORPORATION MET 16.7 4.76 28.46 13 MARIWASA MANUFACTURING CORP. MMI 33.2 209.19 629.89
14 SAN MIGUEL BREWERY, INC. SMB 15.7 10,033.00 64,090.00 14 ALASKA MILK CORPORATION AMC 30.1 1,409.39 4,677.41
15 LIBERTY FLOUR MILLS , INC. LFM 15.1 319.54 2,122.85 15 CITISECONLINE.COM, INC. COL 28.4 269.21 948.65
16 PHOENIX PETROLEUM PHILIPPINES, INC. PNX 15.0 751.48 5,003.41 16 PHILWEB CORPORATION WEB 28.3 551.20 1,946.87
17 REPUBLIC CEMENT CORPORATION RCM 14.9 3,875.52 26,092.57 17 SAN MIGUEL CORPORATION SMC 27.0 57,799.00 213,817.00
18 BANKARD, INC. BKD 14.7 103.26 702.22 18 GLOBE TELECOM, INC. GLO 26.3 12,568.87 47,708.91
19 FAR EASTERN UNIVERSITY, INC. FEU 14.7 621.20 4,227.13 19 GMA NETWORK, INC. GMA7 25.9 2,818.25 10,880.12
20 CITISECONLINE.COM, INC. COL 14.5 269.21 1,853.17 20 COSMOS BOTTLING CORPORATION CBC 25.5 298.83 1,172.50
21 ASIAN TERMINALS, INC. ATI 14.5 1,161.68 8,007.25 21 ANGLO- PHILIPPINE HOLDINGS CORP. APO 23.9 294.07 1,232.76
22 PHIL. LONG DISTANCE TELEPHONE CO. TEL 14.2 39,781.00 280,148.00 22 REPUBLIC CEMENT CORPORATION RCM 23.3 3,875.52 16,659.39
23 REPUBLIC GLASS HOLDINGS CORP. REG 13.6 186.65 1,376.65 23 DMCI HOLDINGS, INC. DMC 22.9 4,682.52 20,468.22
24 PREMIERE ENTERTAINMENT PHILS., INC. PEP 13.4 129.40 966.19 24 ANCHOR LAND HOLDINGS,INC. ALHI 22.8 372.83 1,637.53
25 PNOC EXPLO. CORPORATION PEC 13.3 1,795.82 13,498.56 25 FAR EASTERN UNIVERSITY, INC. FEU 22.2 621.20 2,803.98
26 PHILEX MINING CORPORATION PX 13.2 2,830.31 21,378.41 26 FIRST PHILIPPINE HOLDINGS CORP. FPH 22.1 8,510.00 38,470.00
27 SAN MIGUEL CORPORATION SMC 13.2 57,799.00 438,491.00 27 SOUTHEAST ASIA CEMENT HOLD., INC. CMT 20.6 1,027.93 4,979.66
28 HOLCIM PHILIPPINES, INC. HLCM 12.5 3,117.04 24,979.58 28 LIBERTY FLOUR MILLS , INC. LFM 20.1 319.54 1,590.30
29 CHEMREZ TECHNOLOGIES, INC. COAT 12.0 474.15 3,936.38 29 DIGITAL TELECOMM. PHILS., INC. DGTL 19.3 259.72 1,349.05
30 KEPPEL PHILIPPINES MARINE, INC. KPM 11.7 676.94 5,784.25 30 ASIAN TERMINALS, INC. ATI 19.2 1,161.68 6,042.39
31 PEPSI-COLA PRODUCTS PHILS., INC. PIP 11.1 947.20 8,499.25 31 MANILA WATER COMPANY , INC. MWC 19.2 3,231.41 16,816.90
32 MANCHESTER INT’L HOLD. UNL. CORP. MIH 10.3 145.31 1,404.36 32 ABOITIZ EQUITY VENTURES, INC. AEV 18.6 8,306.87 44,697.10
33 CENTRO ESCOLAR UNIVERSITY CEU 10.3 318.40 3,100.40 33 SEMIRARA MINING CORPORATION SCC 18.4 1,809.56 9,847.14
34 GLOBE TELECOM, INC. GLO 9.8 12,568.87 127,643.53 34 MIC HOLDINGS CORPORATION MET 18.1 4.76 26.29
35 RIPPLE E-BUSINESS INT’L, INC. RPL 9.7 4.28 44.00 35 PNOC EXPLO. CORPORATION PEC 18.0 1,795.82 10,000.11
36 GRAND PLAZA HOTEL CORPORATION GPH 9.6 138.32 1,435.66 36 HOLCIM PHILIPPINES, INC. HLCM 17.3 3,117.04 18,005.45
37 SAN MIGUEL PROPERTIES, INC. SMP 9.6 977.96 10,175.30 37 MANCHESTER INT’L HOLD. UNL. CORP. MIH 17.3 145.31 839.59
38 MACROASIA CORPORATION MAC 9.6 307.76 3,208.25 38 EEI CORPORATION EEI 17.3 562.10 3,255.85
39 UNIVERSAL ROBINA CORPORATION URC 9.5 5,977.99 62,854.59 39 SECURITY BANK CORPORATION SECB 17.2 3,061.66 17,783.38
40 MABUHAY HOLDINGS CORPORATION MHC 9.2 33.86 367.28 40 PHILIPPINE SEVEN CORPORATION SEVN 17.2 155.79 907.90
41 COSMOS BOTTLING CORPORATION CBC 9.0 298.83 3,316.41 41 PEPSI-COLA PRODUCTS PHILS., INC. PIP 17.0 947.20 5,559.18
42 SM DEVELOPMENT CORPORATION SMDC 9.0 1,860.70 20,654.30 42 SAN MIGUEL PUREFOODS COMPANY, INC. PF 17.0 2,596.96 15,244.92
43 JOLLIBEE FOODS CORPORATION JFC 9.0 2,664.62 29,727.49 43 IPEOPLE, INC. IPO 17.0 291.56 1,713.78
44 LEISURE & RESORTS WORLD CORP. LR 8.9 201.24 2,261.20 44 SM DEVELOPMENT CORPORATION SMDC 17.0 1,860.70 10,937.22
45 ANCHOR LAND HOLDINGS,INC. ALHI 8.8 372.83 4,250.56 45 PHILEX MINING CORPORATION PX 16.7 2,830.31 16,983.29
46 SPC POWER CORPORATION SPC 8.7 389.09 4,474.00 46 ABOITIZ POWER CORPORATION AP 16.4 5,658.58 34,475.86
47 CITY & LAND DEVELOPERS, INC. LAND 8.6 129.50 1,509.38 47 JOLLIBEE FOODS CORPORATION JFC 16.4 2,664.62 16,281.99
48 POLAR PROPERTY HOLDINGS CORP. PO 8.5 496.13 5,850.05 48 UNIVERSAL ROBINA CORPORATION URC 16.4 5,977.99 36,548.28
49 TRANS-ASIA OIL & ENERGY DEV.CORP. TA 8.4 282.81 3,385.69 49 BANKARD, INC. BKD 16.3 103.26 632.54
50 CEBU PROPERTY VENTURE & DEV. CORP. CPV 8.3 115.14 1,387.42 50 HOUSE OF INVESTMENTS, INC. HI 15.4 557.10 3,627.37
* Using four-quarter trailing net income attributable to parent company shareholders.
 December 2009
Vol. III, No. 4

Top 50 Stock Price Gainers Top 50 Stock Price Losers

LTP LTP LTP LTP
YTD 2009 2009 YTD 2009 2009
Stock End End Stock End End
Rank Company change High Low Rank Company High Low
Code 2009 2008 Code 2009 2008 change
(%) (%)
(in PhP) (in PhP) (in PhP) (in PhP)
1 ATOK BIG WEDGE COMPANY, INC. "A" AB 101.00 2.10 4709.5 122.00 1.28 1 FORUM PACIFIC, INC. FPI 0.1000 0.26 (61.5) 0.27 0.0700
2 ALPHALAND CORPORATION MRAY 58.50 2.50 2240.0 70.00 2.00 2 ACESITE (PHILIPPINES) HOTEL CORPORATION DHC 3.70 9.60 (61.5) 11.50 2.80
3 LIBERTY TELECOMS HOLDINGS, INC. LIB 2.70 0.2000 1250.0 3.25 1.50 3 PREMIERE ENTERTAINMENT PHILIPPINES, INC. PEP 0.36 0.72 (50.0) 0.87 0.33
4 ATOK BIG WEDGE COMPANY, INC. "B" ABB 102.00 10.00 920.0 127.00 2.50 4 ARTHALAND CORPORATION ALCO 0.1600 0.27 (40.7) 0.29 0.0900
5 PHILWEB CORPORATION WEB 18.50 2.80 560.7 18.75 2.70 5 SUPERCITY REALTYDEVELOPMENT CORP. SRDC 0.80 1.32 (39.4) 0.80 0.80
6 PNOC EXPLO. CORPORATION "A" PEC 13.50 2.24 502.7 27.00 3.35 6 ABOITIZ TRANS. SYSTEM CORP. - Preferred ATSP 1.24 2.00 (38.0) 2.00 1.20
7 PAXYS, INC. PAX 2.80 0.50 460.0 3.85 0.43 7 EASYCALL COMMUNICATIONS PHILS., INC. ECP 2.20 3.50 (37.1) 3.50 1.60
8 PRIME MEDIA HOLDINGS, INC. PRIM 1.50 0.30 400.0 3.90 0.2000 8 INFORMATION CAPITAL TECH. VENTURES, INC. ICTV 0.90 1.40 (35.7) 1.60 0.84
9 ALSONS CONS. RESOURCES, INC. ACR 1.22 0.25 388.0 1.60 0.2050 9 ROXAS AND COMPANY, INC. RCI 1.80 2.75 (34.5) 2.70 1.60
10 NIHAO MINERAL RESOURCES INT’L, INC. NI 4.25 0.90 373.8 8.70 0.75 10 WELLEX INDUSTRIES, INC. WIN 0.1000 0.1450 (31.0) 0.2050 0.1000
11 FEDERAL RES. INVESTMENT GROUP, INC. FED 11.00 2.50 340.0 17.50 3.00 11 PHILIPPINE ESTATES CORPORATION PHES 0.1050 0.1500 (30.0) 0.35 0.1000
12 CENTURY PEAK METALS HOLDINGS CORP. CPM 6.50 1.50 333.3 7.10 1.50 12 ABOITIZ TRANSPORT SYSTEM CORPORATION ATS 1.18 1.64 (28.0) 2.02 1.02
13 LEPANTO CONS. MINING COMPANY "A" LC 0.26 0.0600 333.3 0.32 0.0600 13 MAKATI FINANCE CORPORATION MFIN 1.44 1.99 (27.7) 1.99 1.19
14 PHILEX MINING CORPORATION PX 16.00 3.92 308.2 20.00 3.32 14 OMICO CORPORATION - Warrants OMW2 0.0030 0.0040 (25.0) 0.0065 0.0022
15 ACTIVE ALLIANCE, INC. AAI 12.00 3.00 300.0 21.00 2.60 15 PRIMEX CORPORATION PRMX 3.25 4.20 (22.6) 6.00 2.90
16 MANILA MINING CORPORATION "A" MA 0.0260 0.0065 300.0 0.0300 0.0070 16 IMPERIAL RESOURCES, INC. "A" IMP 9.00 11.50 (21.7) 12.50 6.60
17 MANILA MINING CORPORATION "B" MAB 0.0260 0.0065 300.0 0.0310 0.0070 17 POLAR PROPERTY HOLDINGS CORPORATION PO 2.50 3.10 (19.4) 4.50 1.88
18 JG SUMMIT HOLDINGS, INC. JGS 6.60 1.70 288.2 6.80 1.76 18 CHINATRUST (PHILS.) COMM. BANK CORP. CHTR 25.00 30.00 (16.7) 27.50 20.00
19 PHILIPPINE SEVEN CORPORATION SEVN 7.00 1.82 285.0 8.50 2.27 19 UNIWIDE HOLDINGS, INC. UW 0.1000 0.1200 (16.7) 0.1500 0.0600
20 CENTRAL AZUCARERA DE TARLAC CAT 11.00 2.95 272.9 13.00 2.75 19 FIRST METRO INVESTMENT CORPORATION FMIC 28.50 34.00 (16.2) 36.00 25.00
21 DMCI HOLDINGS, INC. DMC 9.70 2.65 266.0 10.50 2.26 21 RIPPLE E-BUSINESS INTERNATIONAL, INC. RPL 3.80 4.50 (15.6) 5.00 3.00
22 PHILIPPINE REALTY & HOLDINGS CORP. RLT 0.74 0.2050 261.0 0.76 0.1800 22 CITY & LAND DEVELOPERS, INC. LAND 1.40 1.63 (14.3) 2.08 0.98
22 BENPRES HOLDINGS CORPORATION BPC 3.50 0.97 260.8 4.20 0.97 23 MACROASIA CORPORATION MAC 3.00 3.50 (14.3) 3.75 2.50
24 MRC ALLIED, INC. MRC 0.36 0.1000 260.0 0.49 0.1200 24 BOGO MEDELLIN MILLING COMPANY BMM 32.00 37.00 (13.5) 32.00 30.00
25 PRIME GAMING PHILIPPINES, INC. PGPI 27.00 7.50 260.0 43.00 7.50 25 F& J PRINCE HOLDINGS CORPORATION "A" FJP 1.08 1.22 (11.5) 1.80 0.76
26 LEPANTO CONSOLIDATED MINING CO. "B" LCB 0.25 0.0700 257.1 0.33 0.0675 26 KEPPEL PHILIPPINES MARINE, INC. KPM 1.92 2.12 (9.4) 2.38 1.80
27 MANILA ELECTRIC COMPANY MER 205.00 59.50 244.5 302.50 56.50 27 PANASONIC MANUFACTURING PHILS. CORP. PMPC 6.50 7.00 (7.1) 7.00 4.20
27 METRO PACIFIC TOLLWAYS CORP. TOL 8.50 2.55 233.3 11.50 1.54 28 A. SORIANO CORPORATION ANS 2.06 2.20 (6.4) 3.00 2.06
29 ATLAS CONS. MINING & DEV'T CORP. AT 9.10 2.75 230.9 10.50 2.80 29 CHINA BANKING CORPORATION CHIB 370.00 395.00 (6.3) 392.50 268.18
30 DIZON COPPER-SILVER MINES, INC. DIZ 3.95 1.20 229.2 5.30 1.44 30 BANKARD, INC. BKD 1.20 1.28 (6.3) 1.50 0.96
31 SUNTRUST HOME DEVELOPERS, INC. SUN 0.49 0.1500 226.7 0.77 0.1600 31 LORENZO SHIPPING CORPORATION LSC 1.00 1.06 (5.7) 1.20 1.00
31 IONICS, INC. ION 1.30 0.40 225.0 2.26 0.32 32 PANCAKE HOUSE, INC. PCKH 8.50 9.00 (5.6) 10.00 8.50
33 REPUBLIC CEMENT CORPORATION RCM 3.05 0.94 224.5 3.60 0.70 33 KEPPEL PHILIPPINES HOLDINGS, INC. "B" KPHB 1.90 2.00 (5.0) 2.04 1.90
34 EEI CORPORATION EEI 2.44 0.76 221.1 2.70 0.78 34 PAL HOLDINGS, INC. PAL 2.85 3.00 (5.0) 3.10 2.04
35 FIRST PHILIPPINE HOLDINGS CORP. FPH 48.00 15.25 214.8 58.00 15.50 35 PLDT 10% CUM. CONVERTIBLE PREF. SERIES Z TELZ 10.50 11.00 (4.5) 11.50 10.50
36 PNOC ENERGY DEVELOPMENT CORP. EDC 4.70 1.52 209.2 4.75 1.60 36 METRO PACIFIC INVESTMENTS CORPORATION MPI 2.60 2.70 (3.7) 7.10 2.40
37 LODESTAR INVESTMENT HOLD.CORP. LIHC 9.50 3.10 206.5 13.00 1.70 37 HIGHLANDS PRIME, INC. HP 2.90 3.00 (3.3) 3.55 2.44
38 SOUTHEAST ASIA CEMENT HOLD., INC. CMT 0.86 0.29 196.6 1.24 0.2200 38 SWIFT FOODS, INC. SFI 0.1450 0.1500 (3.3) 0.2250 0.1400
38 UNIVERSAL ROBINA CORPORATION URC 16.25 5.80 180.2 16.50 5.70 39 MEGAWORLD CORPORATION - Warrants MEGW1 0.59 0.61 (3.3) 0.89 0.52
38 PEPSI-COLA PRODUCTS PHILS., INC. PIP 2.34 0.85 175.3 2.55 0.84 40 BACNOTAN CONSOLIDATED INDUSTRIES, INC. BCI 9.90 10.00 (1.0) 10.50 7.90
41 ISM COMMUNICATIONS CORPORATION ISM 0.0650 0.0239 171.8 0.0775 0.0160
42 FILINVEST DEVELOPMENT CORPORATION FDC 2.08 0.77 170.1 2.40 0.78
43 ASIA AMALGAMATED HOLDINGS CORP. AAA 0.40 0.1500 166.7 0.94 0.1500
44 ROBINSONS LAND CORPORATION RLC 13.00 4.90 165.3 14.25 3.60
45 PHOENIX PETROLEUM PHILIPPINES, INC. PNX 7.00 2.64 164.9 7.10 2.64
45 APEX MINING COMPANY, INC. "A" APX 2.85 1.10 159.1 4.30 1.12
45 CYBER BAY CORPORATION CYBR 0.51 0.2000 155.0 0.87 0.1800
48 HOLCIM PHILIPPINES, INC. HLCM 4.80 1.90 152.6 5.40 1.82
49 APEX MINING COMPANY, INC. "B" APXB 2.80 1.12 150.0 4.30 1.12
50 MEDCO HOLDINGS, INC. MED 0.37 0.1500 146.7 0.90 0.1200

Notes: There were only 40 stocks that recorded price losses during the year.
LTP refers to last traded price.
2009 High and Low figures are based on intra-day trading prices.
 December 2009
Vol. III, No. 4
Listed Companies Income and Revenues
Total Market 2009 2008 % change
Net Income 357,840,033,948.44 199,237,920,654.72 79.60
Revenues 2,716,074,905,159.46 2,615,497,702,206.38 3.85

Sector Net Income & Revenues Net Income Net Income % change Revenues Revenues % change
2009 2008 2009 2008
PSEi 240,615,623,326.42 155,345,900,507.90 54.89 1,615,513,679,340.49 1,502,063,225,566.91 7.55
Financials Sector 44,224,662,524.00 27,460,362,120.00 61.05 313,114,638,436.00 278,455,772,665.00 12.45
Industrial Sector 126,807,541,893.37 49,097,624,059.80 158.28 1,232,573,839,775.01 1,241,056,920,957.74 (0.68)
Holding Firms Sector 70,905,865,212.00 37,177,982,491.00 90.72 576,331,440,022.00 509,043,414,660.00 13.22
Property Sector 28,777,826,696.00 25,737,375,047.00 11.81 123,095,977,989.00 119,716,718,007.00 2.82
Services Sector 84,035,252,222.81 55,126,226,868.52 52.44 432,380,221,976.72 433,564,949,698.02 (0.27)
Mining & Oil Sector 3,073,852,369.27 4,631,242,834.40 (33.63) 38,465,713,667.73 33,569,533,383.62 14.59
Small and Medium Enterprises 15,033,031.00 7,107,234.00 111.52 113,073,293.00 90,392,835.00 25.09

Quarterly Stock Market Statistics

4Q 09 vs. 4Q 08 4Q 09 vs. 3Q 09
(in pesos) 4Q 2008 3Q 2009 4Q 2009
% change % change
Total Market Capitalization 4,069,226,707,143.75 5,908,721,390,927.25 6,029,081,746,368.69 48.16 2.04
Domestic Market Capitalization 2,474,054,910,543.75 3,721,341,204,727.25 3,991,933,758,648.69 61.35 7.27
Value Turnover 200,339,290,292.13 238,779,374,088.53 364,756,354,398.03 82.07 52.76
Average Daily Value Turnover 3,395,581,191.39 3,979,656,234.81 6,079,272,573.30 79.03 52.76
Foreign Buying 82,960,279,162.37 78,205,064,101.35 73,354,946,938.85 (11.58) (6.20)
Foreign Selling 78,447,646,600.38 70,019,937,423.99 74,913,973,471.93 (4.50) 6.99
Net Foreign Buying 4,512,632,562.00 8,185,126,677.36 (1,559,026,533.08) (134.55) (119.05)
% of Foreign to Total Value Turnover 40.28% 31.04% 20.32%

End-Dec 09 vs.
Y-o-Y
Quarterly Index Performance End-Dec 2008 End-Sep 2009 End-Dec 2009 end-Sep 08
% change
% change
PSEi 1,872.85 2,800.82 3,052.68 63.00 8.99
All Shares Index 1,196.99 1,787.09 1,918.64 60.29 7.36
Financials Sector 456.89 618.11 669.97 46.64 8.39
Industrial Sector 2,145.65 3,967.71 4,628.69 115.72 16.66
Holding Firms Sector 897.45 1,584.46 1,611.52 79.57 1.71
Property Sector 623.77 1,095.44 1,076.32 72.55 (1.75)
Services Sector 1,143.59 1,420.63 1,508.92 31.95 6.21
Mining & Oil Sector 3,221.55 7,594.11 10,762.84 234.09 41.73

Notes:
- ROA (Return on Assets) is computed as : Net Income - Figures for net income, revenues, assets, liabilities and stockholders’ equity were based on the annual financial
Total Assets statements submitted by listed companies as of May 11, 2010. All asset and liabilities figures refer to
ROE (Return on Equity) is computed as: Net Income consolidated figures.
Total Shareholders’ Equity - ROA, ROE and EPS use latest available four-quarter trailing net income attributable to parent company
EPS (Earnings Per Share) is computed as: Net Income shareholders. ROE computation uses stockholders’ equity attributable to parent company shareholders.
Outstanding Shares - Data is based on the submission of 234 listed companies. Foreign-domiciled companies and companies listed
BV (Book Value) is computed as: Total Shareholders’ Equity after December 31, 2009 are not included in the top 50 lists.
Total Outstanding Shares

The data contained in the PSE Quarterly Top 50 was collated by the Philippine Stock Exchange. The PSE does not make any representations or warranties on matters such as, but not limited to, the accuracy, timeliness,
completeness, currentness, non-infringement, merchantability or fitness for any particular purpose of the information and data herein contained. The PSE assumes no liability and responsibility for any loss or damage
suffered as a consequence of any errors or omissions in the report, or any decision made or action taken in reliance upon information contained herein. The information contained herein is for information purposes only,
does not constitute investment advice, and is not intended to influence investment decisions. Advice from a securities professional is strongly recommended.
For inquiries or suggestions on the PSE Top 50, you may call (632) 688-7601 to 02, send a message through fax no. (632) 688-8818 or email pirs@pse.com.ph.