PSE Circular for Brokers No. 1857-98

August 10, 1998 PSE CIRCULAR FOR BROKERS NO. 1857-98 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. 7 August 1998 Date of Report (Date of earliest event reported) 2. SEC Identification Number 169930 3. BIR Tax Identification No. 321-000-126-047 4. KUOK PHILIPPINE PROPERTIES, INC. 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. 9th Floor, Salustiana D. Ty Tower, 104 Paseo de Roxas corner Perea Street, Legaspi Village, Makati City 1200 Address of principal office Postal Code 8. (632) 814-8800 Registrants telephone number, including area code 9. The Registrant has not changed its name, principal address or fiscal year since its last report to this Honorable Commission except that its office address has moved from the 10th floor to the 9th floor of Salustiana D. Ty Tower, 104 Paseo de Roxas corner Perea St., Legaspi Village, Makati City Former name or former address, if changed since last report 10. Securities registered pursuant to Sections 4 and 8 of the RSA Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding Common Stock P1.00 par value 3,841,854,596 11. Indicate the item numbers reported herein. ITEM 9 During its regular meeting held on 6 August 1998, the Registrant's Board of Directors passed and approved resolutions to authorize the Management of its controlled subsidiary, KPPI Land Corporation (KLC), to commence negotiations with interested investors for a substantial equity in KLC and to take appropriate and necessary corporate actions to conclude and implement the terms and conditions agreed upon with said investors including but not limited to increasing KLC's authorized capital stock to accommodate the investment, execution of the necessary agreements and obtaining the approvals of the relevant government entities. Likewise, the Registrant's Board of Directors passed and approved resolutions authorizing the Registrant to waive its pre-emptive rights to subscribe to new issues of shares from KLC's increased capital stock in favor of the new investors and if necessary, to enter into a shareholders' agreement or other similar agreements with these investors pertaining to the management policies and conduct of operations KLC. 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. KUOK PHILIPPINE PROPERTIES, INC . Registrant (SGD.) FEDERICO G. NOEL, JR. Corporate Secretary