Adoption of Certain Standards and Interpretation as Part of SEC Rules and Regulations

May 11, 2010 SEC NOTICE Notice is hereby given that the Commission En Banc in its meeting on 06 May 2010 resolved to adopt the following standards and interpretation 1 as part of its rules and regulations: No. Title Effectivity PFRS 9 Financial Instruments: Mandatory adoption for annual periods Classification and beginning on or after January 1, 2013 Measurement PAS 24 Related Party Mandatory adoption for annual periods Disclosures (Revised) beginning on or after January 1, 2011 IFRIC 19 Extinguishing Financial Mandatory adoption for annual periods Liabilities with Equity beginning on or after July 1, 2010 Instruments Amendments Additional Exemption For mandatory adoption of the to PFRS 1 from First-Time amendments for annual periods Adopters beginning on or after January 1, 2010 Amendments Classification of Rights For mandatory adoption of the to PAS 32 Issues amendments for annual periods beginning on or after February 1, 2010 Earlier application of any of the foregoing standards and interpretation is permitted subject to disclosure of such fact. The International Accounting Standards Board provides access 2 through its website at www.iasb.org , for the unaccompanied 3 standards and interpretations. cSCTID Issued this 11th day of May 2010, at Mandaluyong City, Philippines. For the Commission: (SGD.) FE B. BARIN Chairperson Footnotes 1. These are adopted from the International Financial Reporting Standards issued by the International Accounting Standards Board. 2. The access is subject to registration requirements and copyright limitations. 3. These do not include illustrative examples, implementation guidance, and bases for conclusions.