PSE Circular for Brokers No. 2792-98

December 21, 1998 PSE CIRCULAR FOR BROKERS NO. 2792-98 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. 18 December 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 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 Registrant's 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, 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 3,841,854,596 11. Indicate the item numbers reported herein: ITEM 9 . ISSUANCE OF CONVERTIBLE BONDS During the special meeting of the Registrant's Board of Directors held on 18 December 1998, the Board passed and approved resolutions to authorize the issuance of US$50,000,000.00 worth of convertible bonds by way of a private placement to any interested subscriber/investor under such terms and conditions deemed in the best interest of the Registrant. 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