EEI Corporation Bags P760 Million Project

March 12, 1998 PSE CIRCULAR FOR BROKERS NO. 356-98 EEI CORPORATION BAGS P760 MILLION PROJECT Publicly-listed construction giant, EEI Corporation has been awarded the contract to undertake the general construction of the Linden Suites, a 26-storey first-class mixed used building located in the Ortigas prime business district. Estimated to cost P760 million, "The Linden Suites" project is a joint venture of Madeira Holdings, Inc.,, whose Chairman and President, Carlos Dominguez, is a notable businessman and former Secretary of Agriculture. The project is the company's answer to the government's call for increased investments in tourism and other facilities to spur the country as a regional corporate headquarter location of multinationals. The Linden project will have 126 first class service apartments as well as 3,000 square meters of office space. Intended to attract foreign businessmen, Linden Suites is designed to provide elegant and hotel-standard first-class residence to medium to long-term expatriates and transients and businessmen travelers in a strategic business location. EEI, the country's leading industrial construction company, has diversified successfully into high rise buildings and structures. "In only less than three years, the company has acquired landmark projects in recognition of our strong construction and engineering capabilities and ability to deliver projects on time," said EEI President Rogelio Murga. Last year, EEI obtained an aggregate P6.03 billion in property construction contracts, or about 60% of its total orderbook. It is engaged in various civil works and superstructure construction in the Philamlife Building, the RCBC Towers Plaza, Asian Star Building and other high-rise projects. Murga said that the Linden Project is significant in that it represents a contract job whereby EEI will take full responsibility from excavation until finishing. "EEI has quickly obtained the technologies to undertake large-scale high rise projects in line with our strategic move to be diversified and a Design-and-Build world-class contractor," he added. EEI will be working in conjunction with DP Architects, Philippines, designers of the building; SP Castro and Associates, Inc., project managers; Davis Langdon & Seah (Phil), quantity surveyors, and Swiss Belhotel International, Ltd. (an affiliate of Swissair) who will provide consultancy and management services for the project.