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

September 21, 1999 PSE CIRCULAR FOR BROKERS NO. 2360-99 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. 21 September 1999 Date of Report 2. SEC Identification No. 167423 3. BIR Tax Identification No. 320-000-477-103 4. MEGAWORLD CORPORATION Exact name of registrant as specified in its charter 5. Metro Manila Province, Country or other jurisdiction of incorporation or organization 6. (SEC Use Only) Industry Classification Code 7. 28th Floor, The World Centre 330 Sen. Gil J. Puyat Avenue Makati City, Philippines 1227 Address of principle office 8. (632) 867-8826 to 40 Registrant's telephone number including area code 9. Securities registered pursuant to Sections 4 and 8 of the Revised Securities Act Title of Each Class Number of Shares of Stock Outstanding Common 5,041,229,506 10. Item 9(b) Megaworld Corporation is set to commence construction of CityWalk at its Eastwood City development hosting the Eastwood CyberPark, the country's first information technology or IT park, in Libis, Quezon City. Envisioned to be a dining, environment and leisure hub, CityWalk will be an essential component of Eastwood City. It will serve as a 24-hour destination for the Eastwood City community as well as the residents of neighboring villages. It will offer commercial space for lease to various establishments ranging from gourmet restaurants and bars to retail shops and entertainment outlets. The first phase of CityWalk has been committed 100 percent to tenants engaged in the restaurant business. Leasing of the units for lease in the second phase is now under way. The two phases are expected to be completed and operational by the middle of the year 2000. SIGNATURE 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. MEGAWORLD CORPORATION By: (SGD.) FRANCISCO C. CANUTO Duly Authorized Signatory