C08234-2023

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Nov 17, 2023
2. SEC Identification Number
167423
3. BIR Tax Identification No.
000-477-103
4. Exact name of issuer as specified in its charter
MEGAWORLD CORPORATION
5. Province, country or other jurisdiction of incorporation
Metro Manila, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
30th Floor, Alliance Global Tower, 36th Street cor. 11th Avenue, Uptown Bonifacio, Taguig City, Philippines Postal Code 1634
8. Issuer's telephone number, including area code
(632) 8894-6300/6400
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common 31,183,251,872
Preferred 6,000,000,000
11. Indicate the item numbers reported herein
Item 9(b)

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Megaworld CorporationMEG

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Clarification on news articles posted in Bilyonaryo.com
Source Bilyonaryo.com
Subject of News Report "Substantiated fraud charges’: Court issues freeze order on Megaworld’s assets as Datem sues to recover nearly P1 billion in unpaid bills”
Date of Publication Nov 16, 2023
Clarification of News Report

We reply to your request for clarification on the news article entitled “Substantiated fraud charges’: Court issues freeze order on Megaworld’s assets as Datem sues to recover nearly P1 billion in unpaid bills”” posted in Bilyonaryo.com on November 16, 2023.

Megaworld Corporation (“Megaworld”) would like to advise the Exchange that it only received a copy of the Summons and Complaint filed by Datem, Inc. (“Datem”) yesterday, 16 November 2023. It has thirty days to file its Answer to the Complaint to address and rebut all of Datem’s allegations.

Megaworld was also only apprised of Datem’s application for a Writ of Preliminary Attachment (“WPA”) after the publication of the Bilyonaryo.com article, and also after it was served a copy of the WPA, together with the Summons and Complaint. Megaworld wishes to clarify, however, that the article inaccurately refers to a freeze order on the five Projects of Megaworld. The WPA does not “freeze” these Projects and does not entail the cessation of any of Megaworld’s business operations, including with respect to the five Projects.

While Megaworld is ready to, and shall, properly address all allegations through the Answer, it would like to clarify that it is patently untrue that Megaworld simply refuses to pay its obligation due to Datem, and much less has it engaged in fraudulent activities in dealing with the latter. We wish to highlight that the issue of whether Datem is entitled to any payment was still the subject of previous discussions, and is now the subject of litigation.

With this, we wish to assure that Megaworld remains committed to fulfilling its obligations to all its creditors and to the general public. Megaworld is prepared to vigorously defend itself and address all the allegations in Datem’s complaint in the proper forum.

We trust that we have clarified the above-mentioned news article to your satisfaction.
Other Relevant Information

None
Filed on behalf by:
Name Anna Michelle Llovido
Designation Corporate Secretary