Friday, February 9, 2018

EEI Corporation (EEI)

This posting may contain out of date contents.
For the updated or exact information, you should check edge.pse.com.ph or their official website.

1. Company Information
Company Name
EEI Corporation (EEI)
Sector
Industrial
Incorporation Date
Apr 17, 1931
Subsector
Construction, Infra. & Allied Services
Number of employees
27,856
(Mostly Project Workers)
Board of Directors
Chairman: Helen Y. Dee
Website / E-mail
http://www.eei.com.ph / grthipolito@eei.com.ph
2. Stock Information
Total Assets
20,475,114,000
Market Capitalization
11,212,565,667.70
Total Liabilities
14,083,590,000
Outstanding Shares
1,036,281,485
Retained Earnings
4,653,934,000
Listed Shares
1,035,084,197
Listing Date
Jul 21, 1975
Issued Shares
1,036,401,386
Board Lot
100
Free Float Level (%)
45.32%
Par Value
1.00
Foreign Ownership Limit
40%
3. Major Stock Holders (common shares)
HOUSE OF INVESTMENTS, INC. (INDIRECT SHAREHOLDINGS HELD UNDER RCBC SECURITIES, INC.)
54.36%
4. Company Descriptions and Business Development
Notes
1. Related companies: HI, EEI and RCB, IPO, PERC, NRCP, SPM
2. Alfonso T. Yuchengco, the founder of Yuchengco Group, is the father of Helen Y. Dee.
3. Pan Malayan Management & Investment Corp. is the ultimate parent.
4. In 2017, ARCC started contribute revenues/net incomes.
Overview
Today, EEI is one of the country’s leading construction companies with a reputable track record in general contracting and specialty works. The Company has also been engaged in doing construction projects overseas for more than forty years.

Business
Revenue contribution in 2016 (in million pesos)
Construction Contracts
Services
merchandise sales
Real estate sales
13,826
837
151
19
93.21%
5.64%
1.02%
0.13%
Foreign Sales accounted for 18% (P3.3 million) of the total revenues.


Building Projects
There are on-going projects from various clients such as Megaworld (MEG), SM Development Corp, Filinvest, Double Dragon, etc.
Infrastructure Projects
Major on-going infra projects are Runway extension of Caticlan Airport, Skyway section 3 and 4, New Bohol Airport and MRT 7.
Electromechanical Projects
Some projects on-going are 3x135 MW coal-fired Power plant by FDC Utilities, Therma Visayas Energy Project and Pabbilao Power Plant Unit 3.
ARCC Projects
Several projects abroad are Jazan Refinery and Terminal of Saudi Aramco under Daewoo, Safanivah Works for Saudi Aramcom, Yanpet U10 Convection Upgrade Works for Yanpet SaudiYanbu Petrochemical Company, etc.

Subsidiaries / Associates / Affiliates / Joint Ventures
EEI Limited and Subsidiaries engages in labor supply and project management and supervision services. Holds interest in joint-venture outside the Philippines.
EEI Construction and Marine, Inc. (ECMI) engages in fabrication of light steel, and other structural fabrication works.
EEI Power Corporation (EEIPC)
Equipment Engineers, Inc
Gulf Asia International Corporation and Subsidiaries (GAIC)
Philmark, Inc.
Al Rushaid Construction Company Ltd. (ARCC, 49%)
Petro Solar Corporation (44%)
Petro Wind Energy, Inc. (PWEI, 20%)

+++++++++++++++++++++++++++++++++++++++++

MARKET ISSUES

[last partial update : 02/28/2018] Macro and Overseas (a) US interest rate : 1.25 ~ 1.5%, May increase 3 times in 2018 (b) US 10 yr bond...