PCEV - Manila, Philippines

Philippine Stock Exchange (PSE)-listed Philippine Communications and Energy Ventures, Inc. (PCEV) was established in the Philippines as a limited liability company on July 18, 1968. Until 1991, PCEV's primary business was providing fixed line telecommunications services in eight cities and municipalities in the Philippines. In April 2000, PCEV launched their digital prepaid cellular service, Talk ‘N Text, using the Global System for Mobile Communications (GSM) platform of Smart Communications, Inc. (Smart). In June 2008, PCEV transferred their fixed line business to Philippine Long Distance Telephone Company (PLDT) and their GSM business to Smart in August of 2009. On May 25, 2010, the Philippine Securities and Exchange Commission (SEC) approved the change in PCEV's corporate name along  

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with other amendments to the Company's Articles of Incorporation. As of December 31, 2010, PCEV is 99.5 percent-owned by Smart, which is wholly owned and controlled by PLDT. As a result, PCEV has no employees of their own and all activities have been outsourced to the PLDT Group, with the exception of their officers.