PSE Circular for Brokers No. 465-99

March 12, 1999 PSE CIRCULAR FOR BROKERS NO. 465-99 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) 1. March 10, 1999 Date of Report (Date of earliest event reported) 2. SEC Identification Number 1746 3. BIR Tax Identification No. 000-126-853 4. JARDINE DAVIES INC. Exact name of registrant as specified in its charter 5. METRO MANILA, PHILIPPINES Province, country or other jurisdiction of incorporation 6. [ ] (SEC Use Only) Industry Classification Code 7. JARDINE DAVIES BUILDING, 222 SEN. GIL J. PUYAT AVENUE MAKATI CITY, METRO MANILA 1200 Address of principal office 8. (632) 843-60-11 Registrant's telephone number, including area code 9. N/A 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 SHARES 50,000,000 - REGISTERED AND LICENSED 43,883,173 - OUTSTANDING SHARES 11. Indicate the Item numbers reported herein Item 9 Item 9 : Other Events In compliance with your disclosure requirements, we attach a Press Release announcing our 1998 Financial Results. LexLib FINANCIAL INFORMATION Please see attached. NOTHING FOLLOWS 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. JARDINE DAVIES, INC. Registrant (SGD.) BI YONG S. CHUNGUNCO Director JARDINE DAVIES INC . POSTS NET PROFIT OF Php 963 . 3 MILLION IN 1998 Jardine Davies Inc. (JDI) announced its results for 1998 showing a net income of Php 963.3 million compared with Php 125.4 million in 1997. The 1998 profit figure includes the gain on sale of the company's holdings in Republic Cement Corporation. The balance sheet of JDI remains strong with total assets growing by 13% to Php 4.8 billion and net assets at 31 December 1998 amounted to Php 3.6 billion. LLpr Earnings per share were Php 22.45 in 1998 compared to Php 2.91 in 1997. A special cash dividend of Php 25.00 per share was declared in August. JDI continues to build on the foundations of its five core businesses to take advantage of opportunities when business conditions in the country improve. JDI remains focused on its five core businesses: Building and Industrial Materials; Middle-income Housing; Agribusiness; Consumer Finance and Corporate Services.