PSE Circular for Brokers No. 1294-98

June 10, 1998 PSE CIRCULAR FOR BROKERS NO. 1294-98 SECURITIES AND EXCHANGE COMMISSION SEC FORM 11-C CURRENT REPORT UNDER SECTION 11 OF THE REVISED SECURITIES ACT (RSA) AND RSA RULE 11(a)-1(b)(3) THEREUNDER 1. June 9, 1998 Date of Report (Date of earliest event reported) 2. SEC Identification No. AS094-8678 3. BIR Tax Identification No. D80-003-978-254-NV 4. WATERFRONT PHILIPPINES, INCORPORATED Exact name of registrant as specified in its charter 5. Philippines Province, Country or other jurisdiction of incorporation or organization 6. [ ] (SEC Use Only) Industry Classification Code 7. No. 1, Airport Road, Lapu-Lapu City, Province of Cebu 6015 Address of principal office Postal Code 8. 6332/3404888 Registrant's telephone number, including area code 9. Not Applicable Former name, former address, and former fiscal year, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Number of Shares of Common Stock Title of Each Class Outstanding and Amount of Debt Outstanding Common stock, P1.00 par value 961,315,000 11. Indicate the item numbers reported herein: Item 4 Item 1. Changes in Control of Registrant Not applicable Item 2. Acquisition of Disposition of Assets Not applicable Item 3. Changes in Registrant's Certifying Accountant Not applicable Item 4. Resignation, Removal or Election of Registrant's Directors or officers The Board of Directors has resolved to accept Mr. Yeoh Cheaw Tau's resignation as a Director of the Company with effect from June 5, 1998. Mr. Wang Yu Huei will serve for the unexpired term of Mr. Yeoh until his successor shall have been elected and qualified. Item 5. Legal Proceedings Not applicable Item 6. Changes in Securities Not applicable Item 7. Defaults Upon Senior Securities Not applicable Item 8. Change in Fiscal Year Not applicable Item 9. Other Events Not applicable Item 10. Financial Statements and Exhibits Not applicable SIGNATURES Pursuant to the requirements of the Revised Securities Act, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. (SGD.) KHOO BOO BOON General Manager Waterfront Philippines, Inc .