PSE Circular for Brokers No. 2717-99

October 25, 1999 PSE CIRCULAR FOR BROKERS NO. 2717-99 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. October 22, 1999 Date of Report 2. SEC Identification No. 147212 3. BIR Tax Identification No. 000-323-228 4. INTERNATIONAL CONTAINER TERMINAL SERVICES, 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. ICTSI Administration Building, Manila International Container Terminal, MICT South Access Road, Manila Address of principle office 8. 245 4101 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 Shares 2,324,734,919 (Reported by the stock transfer agent as of June 30, 1999) 10. Item number reported herein: Item 9 - Other Events International Container Terminal Services, Inc. (ICTSI), along with Asian Terminals, Inc. (ATI) has completed the acquisition of 71.4 per cent of the issued and outstanding capital stock of South Cotabato Integrated Port Services, Inc. (SCIPSI). The equity acquired was equally divided between ICTSI and ATI. SCIPSI is a cargo handling company currently operating at the Makar Wharf in the Port of General Santos in General Santos City. 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 hereto duly authorized. cdll INTERNATIONAL CONTAINER TERMINAL SERVICES, INC. By: (SGD.) ROBERTO B. JAYME Senior Vice President and Chief Finance Officer ICTSI, ATI buy into cargo handling company International Container Terminal Services, Inc. (ICTSI) and Asian Terminals, Inc. (ATI) recently completed the acquisition of 71.4 per cent of the issued and outstanding capital stock of the South Cotabato Integrated Port Services, Inc. (SCIPSI). SCIPSI currently provides stevedoring and cargo handling services at the Makar Wharf in the Port of General Santos in General Santos City. The port lies at the head of Sarangani Bay in the Southern Coast of Mindanao. The acquisition is in support of the government's thrust of economic upliftment through port modernization, particularly in-the Mindanao SOCSKSARGEN area. SCIPSI, on the other hand, wanted to improve its operations through the entry of an experienced port operator. SCIPSI is expected to soon submit to the Philippine Ports Authority a development and modernization plan for the Makar Wharf. One of the more modern port installations in the Philippines, the Makar Wharf is a reinforced concrete general-purpose wharf handling conventional and containerized cargo as well as domestic passenger. It serves as the gateway to the national and international markets of the agricultural and marine products of South Cotabato-Sultan Kudarat-Sarangani-General Santos City (SOCSKSARGEN) area, and the neighboring provinces of Davao del Sur, Sultan Kudarat and North Cotabato. The SOCSKSARGEN area produces pineapple, corn, cotton, coconut, seed corn, cut flowers, banana, asparagus, feed grains, hogs and cattle. prcd