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PSC 2016 PDF

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Table of contents

Statement of Management’s Responsibility for Financial Statements 1


Independent Auditor’s Report 2
Consolidated Balance Sheets 5
Consolidated Statements of Comprehensive Income 6
Consolidated Statements of Changes in Equity 7
Consolidated Statements of Cash Flows 8
Notes to Consolidated Financial Statements 9
ANNEX - Store Directory 52
1
Statement of Management’s Responsibility for Financial STATEMENts
2
A n n ua l R e p o r t 2 0 1 6

SyCip Gorres Velayo & Co. Tel: (632) 891 0307 BOA/PRC Reg. No. 0001,
6760 Ayala Avenue Fax: (632) 819 0872 December 14, 2015, valid until December 31, 2018
1226 Makati City ey.com/ph SEC Accreditation No. 0012-FR-4 (Group A),
Philippines November 10, 2015, valid until November 9, 2018

The Board of Directors and Stockholders


Philippine Seven Corporation

Opinion

We have audited the consolidated financial statements of Philippine Seven Corporation and its subsidiaries (the Group), which
comprise the consolidated balance sheets as at December 31, 2016 and 2015, and the consolidated statements of
comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows for each of the
three years in the period ended December 31, 2016, and notes to the consolidated financial statements, including a summary of
significant accounting policies.

In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the consolidated
financial position of the Group as at December 31, 2016 and 2015, and its consolidated financial performance and its
consolidated cash flows for each of the three years in the period ended December 31, 2016 in accordance with Philippine
Financial Reporting Standards (PFRSs).

Basis for Opinion

We conducted our audits in accordance with Philippine Standards on Auditing (PSAs). Our responsibilities under those standards
are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our
report. We are independent of the Group in accordance with the Code of Ethics for Professional Accountants in the Philippines
(Code of Ethics) together with the ethical requirements that are relevant to our audit of the consolidated financial statements in
the Philippines, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of
Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated
financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial
statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. For the
matter below, our description of how our audit addressed the matter is provided in that context.

We have fulfilled the responsibilities described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial
Statements section of our report, including in relation to these matters. Accordingly, our audit included the performance of
procedures designed to respond to our assessment of the risks of material misstatement of the consolidated financial statements.
The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our
audit opinion on the accompanying consolidated financial statements.

Existence and Completeness of Inventories

The Group’s inventories comprise 17% of its total assets as at December 31, 2016 as disclosed in Note 6 of the consolidated
financial statements. It has 12 warehouses and 955 company-owned stores as at December 31, 2016 throughout the country.
We focused on this area since inventories are material to the consolidated financial statements and are located in various sites
across the country.

A member firm of Ernst & Young Global Limited


Audit response

We updated our understanding of the inventory process and performed test of controls for selected stores and warehouses. We
observed the conduct of inventory count at selected stores and warehouses and traced test counts to the inventory compilation to
determine if the inventory compilation reflects actual inventory count results. We reviewed the reconciliation of the valued
physical inventory compilation with the general ledger account balances and tested other reconciling items. We performed
testing on a sample basis of the rollforward and rollback procedures on inventory quantities from the date of inventory count to
reporting date.

Other Information

Management is responsible for the other information. The other information comprises the information included in the
SEC Form 20-IS (Definitive Information Statement), SEC Form 17-A and Annual Report for the year ended December 31, 2016,
but does not include the consolidated financial statements and our auditor’s report thereon. The SEC Form 20-IS (Definitive
Information Statement), SEC Form 17-A and Annual Report for the year ended December 31, 2016 are expected to be made
available to us after the date of this auditor’s report.

Our opinion on the consolidated financial statements does not cover the other information and we will not express any form of
assurance conclusion thereon.

In connection with our audits of the consolidated financial statements, our responsibility is to read the other information identified
above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the
consolidated financial statements or our knowledge obtained in the audits, or otherwise appears to be materially misstated.

Responsibilities of Management and Those Charged with Governance for the Consolidated Financial Statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance wi th
PFRSs, and for such internal control as management determines is necessary to enable the preparation of consolidated financial
statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, management is responsible for assessing the Group’s ability to continue as a
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless
management either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Group’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable
assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with PSAs will always detect
a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or
in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these
Independent Auditor’s Report

consolidated financial statements.

As part of an audit in accordance with PSAs, we exercise professional judgment and maintain professional skepticism throughout
the audit. We also:

 Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error,
design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to
provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one
resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.

A member firm of Ernst & Young Global Limited

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4
A n n ua l R e p o r t 2 0 1 6

 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.

 Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related
disclosures made by management.

 Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit
evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on
the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw
attention in our auditor’s report to the related disclosures in the consolidated financial statements or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s
report. However, future events or conditions may cause the Group to cease to continue as a going concern.

 Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures,
and whether the consolidated financial statements represent the underlying transactions and events in a manner that
achieves fair presentation.

 Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the
Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and
performance of the audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the
audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements
regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to
bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters.
We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when,
in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse
consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

The engagement partner on the audit resulting in this independent auditor’s report is Belinda T. Beng Hui.

SYCIP GORRES VELAYO & CO.

Belinda T. Beng Hui


Partner
CPA Certificate No. 88823
SEC Accreditation No. 0923-AR-2 (Group A),
May 1, 2016, valid until May 1, 2019
Tax Identification No. 153-978-243
BIR Accreditation No. 08-001998-78-2015,
June 26, 2015, valid until June 25, 2018
PTR No. 5908672, January 3, 2017, Makati City

February 10, 2017

A member firm of Ernst & Young Global Limited


December 31
2016 2015
ASSETS
Current Assets
Cash and cash equivalents (Notes 4, 28 and 29) P
= 1,550,972,673 P
=875,978,073
Short-term investment (Notes 4, 28 and 29) 11,083,577 10,983,401
Receivables (Notes 5, 28 and 29) 1,151,815,969 767,259,573
Inventories (Note 6) 2,131,441,288 1,568,498,726
Prepayments and other current assets (Notes 7, 28 and 29) 526,869,047 426,050,698
Total Current Assets 5,372,182,554 3,648,770,471
Noncurrent Assets
Property and equipment (Note 8) 5,711,671,416 4,753,670,268
Deposits (Notes 9, 28 and 29) 689,019,786 578,349,692
Deferred income tax assets - net (Note 26) 114,915,514 95,706,492
Goodwill and other noncurrent assets (Notes 10 and 29) 463,466,466 439,438,292
Total Noncurrent Assets 6,979,073,182 5,867,164,744
TOTAL ASSETS P
= 12,351,255,736 P
=9,515,935,215

LIABILITIES AND EQUITY


Current Liabilities
Bank loans (Notes 11, 28 and 29) P
= 1,220,000,000 P
=1,150,000,000
Current portion of long-term debt (Notes 11, 28 and 29) 196,166,667 18,000,000
Accounts payable and accrued expenses (Notes 12, 28 and 29) 3,466,836,585 2,366,121,396
Income tax payable 241,635,470 217,978,770
Other current liabilities (Notes 13, 24, 28 and 29) 1,348,926,460 1,224,521,642
Total Current Liabilities 6,473,565,182 4,976,621,808
Noncurrent Liabilities
Long-term debt - net of current portion (Notes 11, 28 and 29) 458,333,333 63,000,000
Deposits payable (Note 14) 239,439,957 238,305,143
Net retirement obligations (Note 23) 117,038,962 100,870,628
Deferred income tax liability (Note 26) 7,936,841 7,936,841
Cumulative redeemable preferred shares (Notes 15, 28 and 29) 6,000,000 6,000,000
Deferred revenue - net of current portion 7,309,433 5,905,714
Total Noncurrent Liabilities 836,058,526 422,018,326
Total Liabilities 7,309,623,708 5,398,640,134
Equity
Common stock (Notes 16 and 30) - P =1 par value
Authorized - 600,000,000 shares
Issued - 459,121,573 shares 459,121,573 459,121,573
Additional paid-in capital (Note 30) 293,525,037 293,525,037
Retained earnings (Notes 16 and 30):
Appropriated 3,350,000,000 2,450,000,000
Unappropriated 944,288,887 920,957,924
Consolidated Balance Sheets

Other comprehensive income (loss):


Remeasurement loss on net retirement obligations - net of deferred income tax
asset (Notes 23 and 26) (20,899,518) (21,905,502)
Revaluation increment on land - net of deferred income tax liability
(Notes 8 and 26) 18,519,295 18,519,295
5,044,555,274 4,120,218,327
Cost of 686,250 shares held in treasury (Notes 16 and 30) (2,923,246) (2,923,246)
Total Equity 5,041,632,028 4,117,295,081
TOTAL LIABILITIES AND EQUITY P
= 12,351,255,736 P
=9,515,935,215

See accompanying Notes to Consolidated Financial Statements.

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6
Consolidated Statements of Comprehensive Income

Years Ended December 31


2016 2015 2014

REVENUES
Revenue from merchandise sales P
= 28,357,309,168 P
=22,400,931,697 P
=17,107,375,250
Franchise revenue (Note 31) 2,838,308,357 2,440,671,360 1,820,696,747
Marketing income (Note 19) 954,246,791 735,221,454 463,413,150
Commission income (Note 31) 73,511,203 46,919,684 39,214,967
Rental income (Note 25) 63,764,574 56,729,444 51,118,568
Interest income (Note 21) 10,950,898 7,025,256 5,741,549
Other income 233,144,681 186,834,492 180,124,459
32,531,235,672 25,874,333,387 19,667,684,690

EXPENSES
Cost of merchandise sales (Note 17) 21,361,119,960 16,891,590,340 12,861,596,475
General and administrative expenses (Note 18) 9,383,857,999 7,463,588,865 5,516,373,836
Interest expense (Note 20) 44,300,104 33,991,623 16,195,818
Other expenses 31,405,257 25,310,558 18,249,864
30,820,683,320 24,414,481,386 18,412,415,993

INCOME BEFORE INCOME TAX 1,710,552,352 1,459,852,001 1,255,268,697

PROVISION FOR INCOME TAX (Note 26) 535,081,961 451,855,511 381,923,842

NET INCOME 1,175,470,391 1,007,996,490 873,344,855

OTHER COMPREHENSIVE INCOME (LOSS)


NOT TO BE RECLASSIFIED TO PROFIT AND LOSS
IN SUBSEQUENT PERIODS
Revaluation increment on land - net of tax (Note 8) – – 15,289,400
Remeasurement gain (loss) on net retirement obligations - net
of tax (Note 23) 1,005,984 3,136,195 (2,800,253)

TOTAL COMPREHENSIVE INCOME P


= 1,176,476,375 P
=1,011,132,685 P
=885,834,002

BASIC/DILUTED EARNINGS PER SHARE (Note 27) P


= 2.56 P
=2.20 P
=1.91

See accompanying Notes to Consolidated Financial Statements.


Other Comprehensive
Income (Loss)
Remeasure-
ment
Loss on Net Revaluation
Retirement Increment
Retained Earnings (Note 16) Obligations - on Land - Treasury
Common Stock Additional Un- Net of Tax Net of Tax Stock
(Note 16) Paid-in Capital Appropriated appropriated (Note 23) (Note 8) Total (Note 16) Total
Balances at January 1, 2016 P
= 459,121,573 P = 293,525,037 P
= 2,450,000,000 P
= 920,957,924 (P
= 21,905,502) P = 18,519,295 P = 4,120,218,327 (P
= 2,923,246) P= 4,117,295,081
Net income – – – 1,175,470,391 – – 1,175,470,391 – 1,175,470,391
Remeasurement gain on net retirement
obligations – – – – 1,005,984 – 1,005,984 – 1,005,984
Total comprehensive income – – – 1,175,470,391 1,005,984 – 1,176,476,375 – 1,176,476,375
Appropriations during the year – – 900,000,000 (900,000,000) – – – – –
Cash dividends – – – (252,139,428) – – (252,139,428) – (252,139,428)
Balances at December 31, 2016 P
= 459,121,573 P
= 293,525,037 P
= 3,350,000,000 P
= 944,288,887 (P
= 20,899,518) P
= 18,519,295 P
= 5,044,555,274 (P
= 2,923,246) P
= 5,041,632,028

Balances at January 1, 2015 = 459,121,573


P = 293,525,037
P =– P
P = 2,546,335,563 (P
= 25,041,697) = 18,519,295 P
P = 3,292,459,771 (P
= 2,923,246) P
= 3,289,536,525
Net income during the year – – – 1,007,996,490 – – 1,007,996,490 – 1,007,996,490
Remeasurement gain on net retirement
obligations – – – – 3,136,195 – 3,136,195 – 3,136,195
Total comprehensive income – – – 1,007,996,490 3,136,195 – 1,011,132,685 – 1,011,132,685
Appropriations during the year – – 2,450,000,000 (2,450,000,000) – – – – –
Cash dividends – – – (183,374,129) – – (183,374,129) – (183,374,129)
Balances at December 31, 2015 = 459,121,573
P = 293,525,037 =
P P2,450,000,000 P
= 920,957,924 (P
= 21,905,502) = 18,519,295 =
P P4,120,218,327 (P
= 2,923,246) P
= 4,117,295,081

Balances at January 1, 2014 = 459,121,573


P = 293,525,037
P =– =
P P1,810,521,305 (P
= 22,241,444) = 3,229,895 =
P P2,544,156,366 (P
= 2,923,246) =
P2,541,233,120
Net income during the year – – – 873,344,855 – – 873,344,855 – 873,344,855
Revaluation increment on land – – – – – 15,289,400 15,289,400 – 15,289,400
Remeasurement loss on net retirement
obligations – – – – (2,800,253) – (2,800,253) – (2,800,253)
Total comprehensive income – – – 873,344,855 (2,800,253) 15,289,400 885,834,002 – 885,834,002
Cash dividends – – – (137,530,597) – – (137,530,597) – (137,530,597)
Balances at December 31, 2014 = 459,121,573
P = 293,525,037
P =– P
P = 2,546,335,563 (P
= 25,041,697) = 18,519,295 P
P = 3,292,459,771 (P
= 2,923,246) P
= 3,289,536,525

See accompanying Notes to Consolidated Financial Statements.

Consolidated Statements of Changes in Equity

7
8
Consolidated Statements of Cash Flows

Years Ended December 31


2016 2015 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Income before income tax P
= 1,710,552,352 P
=1,459,852,001 P
=1,255,268,697
Adjustments for:
Depreciation and amortization (Notes 8 and 18) 1,365,396,573 1,092,223,359 862,759,509
Interest expense (Note 20) 44,300,104 33,991,623 16,195,818
Amortization of:
Deferred revenue on exclusivity contract (Notes 13 and 31) (25,000,000) (25,000,000) (25,446,429)
Deferred lease (Notes 10 and 25) 4,943,746 4,965,729 2,277,636
Software and other program costs (Notes 10 and 18) 955,043 878,003 655,605
Deferred revenue on finance lease (Note 25) – (98,264) (589,567)
Net retirement benefits cost (Notes 22 and 23) 27,105,454 23,029,230 19,867,370
Interest income (Note 21) (10,950,898) (7,025,256) (5,741,549)
Unrealized foreign exchange gain (258,467) (22,972) (24,209)
Noncash donation expense – – 297,731
Operating income before working capital changes 3,117,043,907 2,582,793,453 2,125,520,612
Increase in:
Receivables (384,556,396) (177,872,432) (120,327,092)
Inventories (562,942,562) (403,404,650) (264,244,185)
Prepayments and other current assets (100,818,349) (67,738,598) (87,665,635)
Increase (decrease) in:
Accounts payable and accrued expenses 1,097,292,348 (79,765,106) 573,804,626
Other current liabilities 149,404,818 370,799,004 184,520,376
Deposits payable 1,134,814 3,802,534 31,613,674
Deferred revenue 1,403,719 4,451,328 86,177,397
Retirement benefits paid (Note 23) – (3,082,398) –
Retirement benefits contributions (Note 23) (9,500,000) (15,000,000) (19,944,800)
Net cash generated from operations 3,308,462,299 2,214,983,135 2,509,454,973
Income taxes paid (531,065,419) (420,178,896) (336,660,528)
Interest received 5,157,414 3,515,860 2,693,092
Net cash provided by operating activities 2,782,554,294 1,798,320,099 2,175,487,537
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to:
Property and equipment (Note 8) (2,323,397,721) (2,287,816,904) (1,653,573,106)
Software and other program costs (Note 10) (1,870,967) – (1,247,000)
Increase in:
Deposits (104,876,610) (114,311,499) (143,591,873)
Goodwill and other noncurrent assets (28,055,996) (26,281,580) (143,994,428)
Short-term investment (100,176) (99,271) (73,901)
Proceeds from sale of property and equipment – 13,275 131,360
Net cash used in investing activities (2,458,301,470) (2,428,495,979) (1,942,348,948)
CASH FLOWS FROM FINANCING ACTIVITIES
Availments of:
Bank loans (Note 11) 1,470,000,000 1,480,000,000 950,000,000
Long-term debt (Note 11) 700,000,000 90,000,000 –
Payments of:
Bank loans (Note 11) (1,400,000,000) (1,080,000,000) (760,000,000)
Long-term debt (Note 11) (126,500,000) (9,000,000) –
Interest paid (40,877,263) (33,180,633) (16,949,091)
Cash dividends paid (Note 16) (252,139,428) (183,374,129) (137,530,597)
Net cash provided by financing activities 350,483,309 264,445,238 35,520,312
NET INCREASE (DECREASE) IN CASH AND CASH
EQUIVALENTS 674,736,133 (365,730,642) 268,658,901
EFFECT OF EXCHANGE RATE CHANGES ON CASH 258,467 22,972 24,209
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 875,978,073 1,241,685,743 973,002,633
CASH AND CASH EQUIVALENTS AT END OF YEAR (Note 4) P
= 1,550,972,673 P
=875,978,073 P
=1,241,685,743

See accompanying Notes to Consolidated Financial Statements.


1. Corporate Information and Authorization for Issuance of the Consolidated Financial Statements

Corporate Information
Philippine Seven Corporation (the Company or PSC) was incorporated in the Philippines and registered with the
Philippine Securities and Exchange Commission (SEC) on November 24, 1982. The Company and its subsidiaries
(collectively referred to as the “Group”), are primarily engaged in the business of retailing, merchandising, buying,
selling, marketing, importing, exporting, franchising, acquiring, holding, distributing, warehousing, trading, exchanging
or otherwise dealing in all kinds of grocery items, dry goods, food or foodstuff, beverages, drinks and all kinds of
consumer needs or requirements and in connection therewith, operating or maintaining warehouses, storages,
delivery vehicles and similar or incidental facilities. The Group is also engaged in the management, development, sale,
exchange, and holding for investment or otherwise of real estate of all kinds, including buildings, houses and
apartments and other structures.

The Company is controlled by President Chain Store (Labuan) Holdings, Ltd., an investment holding Company
incorporated in Malaysia, which owns 52.22% of the Company’s outstanding shares. The remaining 47.78% of the
shares are widely held. The ultimate parent of the Company is President Chain Store Corporation (PCSC), which is
incorporated in Taiwan, Republic of China.

The Company has its primary listing on the Philippine Stock Exchange on February 4, 1998.

The registered business address of the Company is 7th Floor, The Columbia Tower, Ortigas Avenue, Mandaluyong
City.

Authorization for Issuance of the Consolidated Financial Statements


The consolidated financial statements were authorized for issue by the Board of Directors (BOD) on
February 10, 2017.

2. Summary of Significant Accounting Policies and Financial Reporting Practices

Basis of Preparation
The consolidated financial statements are prepared under the historical cost basis, except for parcels of land, which
are carried at revalued amount. The consolidated financial statements are presented in Philippine Peso (Peso), which
is the Group’s functional currency and all amounts are rounded to the nearest Peso except when otherwise indicated.

Statement of Compliance
The consolidated financial statements are prepared in compliance with Philippine Financial Reporting Standards

Notes to Consolidated Financial Statements


(PFRS).

Changes in Accounting Policies and Disclosures


The accounting policies adopted are consistent with those of the previous financial year, except that the Group has
adopted the following new accounting pronouncements starting January 1, 2016. Adoption of these pronouncements
did not have any significant impact on the Group’s financial position or performance unless otherwise indicated.

 Amendments to PFRS 10, PFRS 12 and Philippine Accounting Standards (PAS) 28, Investment Entities: Applying
the Consolidation Exception
 Amendments to PFRS 11, Accounting for Acquisitions of Interests in Joint Operations
 PFRS 14, Regulatory Deferral Accounts
 Amendments to PAS 1, Disclosure Initiative
 Amendments to PAS 16 and PAS 38, Clarification of Acceptable Methods of Depreciation and Amortization
 Amendments to PAS 16 and PAS 41, Agriculture: Bearer Plants
 Amendments to PAS 27, Equity Method in Separate Financial Statements
 Annual Improvements to PFRSs 2012–2014 Cycle
 Amendment to PFRS 5, Changes in Methods of Disposal
 Amendment to PFRS 7, Servicing Contracts

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A n n ua l R e p o r t 2 0 1 6

 Amendment to PFRS 7, Applicability of the Amendments to PFRS 7 to Condensed Interim Financial


Statements
 Amendment to PAS 19, Discount Rate: Regional Market Issue
 Amendment to PAS 34, Disclosure of Information ‘Elsewhere in the Interim Financial Report

Future Changes in Accounting Policies


Pronouncements issued but not yet effective are listed below. Unless otherwise indicated, the Group does not expect
that the future adoption of the said pronouncements to have a significant impact on the consolidated financial
statements. The Group intends to adopt the following pronouncements when they become effective.

Effective beginning on or after January 1, 2017

 Amendment to PFRS 12, Clarification of the Scope of the Standard (Part of Annual Improvements to PFRSs
2014–2016 Cycle)

The amendments clarify that the disclosure requirements in PFRS 12, other than those relating to summarized
financial information, apply to an entity’s interest in a subsidiary, a joint venture or an associate (or a portion of its
interest in a joint venture or an associate) that is classified (or included in a disposal group that is classified) as
held for sale.

The amendments do not have any impact on the Group’s financial position and results of operation.

 Amendments to PAS 7, Statement of Cash Flows, Disclosure Initiative

The amendments to PAS 7 require an entity to provide disclosures that enable users of financial statements to
evaluate changes in liabilities arising from financing activities, including both changes arising from cash flows and
non-cash changes (such as foreign exchange gains or losses). On initial application of the amendments, entities
are not required to provide comparative information for preceding periods. Early application of the amendments
is permitted.

Application of amendments will result in additional disclosures in the 2017 consolidated financial statements of
the Group.

 Amendments to PAS 12, Income Taxes, Recognition of Deferred Tax Assets for Unrealized Losses

The amendments clarify that an entity needs to consider whether tax law restricts the sources of taxable profits
against which it may make deductions on the reversal of that deductible temporary difference. Furthermore, the
amendments provide guidance on how an entity should determine future taxable profits and explain the
circumstances in which taxable profit may include the recovery of some assets for more than their carrying
amount.

Entities are required to apply the amendments retrospectively. However, on initial application of the
amendments, the change in the opening equity of the earliest comparative period may be recognized in opening
retained earnings (or in another component of equity, as appropriate), without allocating the change between
opening retained earnings and other components of equity. Entities applying this relief must disclose that fact.
Early application of the amendments is permitted.

These amendments are not expected to have any impact on the Group.

Effective beginning on or after January 1, 2018

 Amendments to PFRS 2, Share-based Payment, Classification and Measurement of Share-based Payment


Transactions

The amendments to PFRS 2 address three main areas: the effects of vesting conditions on the measurement of a
cash-settled share-based payment transaction; the classification of a share-based payment transaction with net
settlement features for withholding tax obligations; and the accounting where a modification to the terms and
conditions of a share-based payment transaction changes its classification from cash settled to equity settled.

On adoption, entities are required to apply the amendments without restating prior periods, but retrospective
application is permitted if elected for all three amendments and if other criteria are met. Early application of the
amendments is permitted.
These amendments are not expected to have any impact on the Group.

 Amendments to PFRS 4, Insurance Contracts, Applying PFRS 9, Financial Instruments, with PFRS 4

The amendments address concerns arising from implementing PFRS 9, the new financial instruments standard
before implementing the forthcoming insurance contracts standard. They allow entities to choose between the
overlay approach and the deferral approach to deal with the transitional challenges. The overlay approach gives
all entities that issue insurance contracts the option to recognize in other comprehensive income, rather than
profit or loss, the volatility that could arise when PFRS 9 is applied before the new insurance contracts standard is
issued. On the other hand, the deferral approach gives entities whose activities are predominantly connected
with insurance an optional temporary exemption from applying PFRS 9 until the earlier of application of the
forthcoming insurance contracts standard or January 1, 2021.

The overlay approach and the deferral approach will only be available to an entity if it has not previously applied
PFRS 9.

The amendments are not applicable to the Group.

 PFRS 15, Revenue from Contracts with Customers

PFRS 15 establishes a new five-step model that will apply to revenue arising from contracts with customers.
Under PFRS 15, revenue is recognized at an amount that reflects the consideration to which an entity expects to
be entitled in exchange for transferring goods or services to a customer. The principles in PFRS 15 provide a more
structured approach to measuring and recognizing revenue.

The new revenue standard is applicable to all entities and will supersede all current revenue recognition
requirements under PFRSs. Either a full or modified retrospective application is required for annual periods
beginning on or after January 1, 2018. The Group is currently assessing the impact of adopting this standard.

 PFRS 9, Financial Instruments

PFRS 9 reflects all phases of the financial instruments project and replaces PAS 39, Financial Instruments:
Recognition and Measurement, and all previous versions of PFRS 9. The standard introduces new requirements
for classification and measurement, impairment, and hedge accounting. PFRS 9 is effective for annual periods
beginning on or after January 1, 2018, with early application permitted. Retrospective application is required, but
comparative information is not compulsory. For hedge accounting, the requirements are generally applied
prospectively, with some limited exceptions.

The adoption of PFRS 9 will have an effect on the classification and measurement of the Group’s financial assets
and impairment methodology for financial assets, but will have no impact on the classification and measurement
of the Group’s financial liabilities. The adoption will also have an effect on the Group’s application of hedge
accounting and on the amount of credit losses. The Group is currently assessing the impact of adopting this

Notes to Consolidated Financial Statements


standard.

 Amendments to PAS 28, Measuring an Associate or Joint Venture at Fair Value (Part of Annual Improvements to
PFRSs 2014–2016 Cycle)

The amendments clarify that an entity that is a venture capital organization, or other qualifying entity, may elect,
at initial recognition on an investment-by-investment basis, to measure its investments in associates and joint
ventures at fair value through profit or loss. They also clarify that if an entity that is not itself an investment entity
has an interest in an associate or joint venture that is an investment entity, the entity may, when applying the
equity method, elect to retain the fair value measurement applied by that investment entity associate or joint
venture to the investment entity associate’s or joint venture’s interests in subsidiaries. This election is made
separately for each investment entity associate or joint venture, at the later of the date on which (a) the
investment entity associate or joint venture is initially recognized; (b) the associate or joint venture becomes an
investment entity; and (c) the investment entity associate or joint venture first becomes a parent. The
amendments should be applied retrospectively, with earlier application permitted.

These amendments are not expected to have any impact on the Group.

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 Amendments to PAS 40, Investment Property, Transfers of Investment Property

The amendments clarify when an entity should transfer property, including property under construction or
development into, or out of investment property. The amendments state that a change in use occurs when the
property meets, or ceases to meet, the definition of investment property and there is evidence of the change in
use. A mere change in management’s intentions for the use of a property does not provide evidence of a change
in use. The amendments should be applied prospectively to changes in use that occur on or after the beginning of
the annual reporting period in which the entity first applies the amendments. Retrospective application is only
permitted if this is possible without the use of hindsight.

These amendments are not expected to have any impact on the Group.

 Philippine Interpretation International Financial Reporting Interpretations Committee (IFRIC) 22, Foreign Currency
Transactions and Advance Consideration

The interpretation clarifies that in determining the spot exchange rate to use on initial recognition of the related
asset, expense or income (or part of it) on the derecognition of a non-monetary asset or non-monetary liability
relating to advance consideration, the date of the transaction is the date on which an entity initially recognizes the
non-monetary asset or non-monetary liability arising from the advance consideration. If there are multiple
payments or receipts in advance, then the entity must determine a date of the transactions for each payment or
receipt of advance consideration. The interpretation may be applied on a fully retrospective basis. Entities may
apply the interpretation prospectively to all assets, expenses and income in its scope that are initially recognized
on or after the beginning of the reporting period in which the entity first applies the interpretation or the beginning
of a prior reporting period presented as comparative information in the consolidated financial statements of the
reporting period in which the entity first applies the interpretation.

The Group is currently assessing the impact of adopting IFRIC 22.

Effective beginning on or after January 1, 2019

 PFRS 16, Leases

Under the new standard, lessees will no longer classify their leases as either operating or finance leases in
accordance with PAS 17. Rather, lessees will apply the single-asset model. Under this model, lessees will
recognize the assets and related liabilities for most leases on their balance sheet, and subsequently, will
depreciate the lease assets and recognize interest on the lease liabilities in their profit or loss. Leases with a term
of 12 months or less or for which the underlying asset is of low value are exempted from these requirements.

The accounting by lessors is substantially unchanged as the new standard carries forward the principles of lessor
accounting under PAS 17. Lessors, however, will be required to disclose more information in their financial
statements, particularly on the risk exposure to residual value.

Entities may early adopt PFRS 16 but only if they have also adopted PFRS 15. When adopting PFRS 16, an entity
is permitted to use either a full retrospective or a modified retrospective approach, with options to use certain
transition reliefs. The Group is currently assessing the impact of adopting PFRS 16.

The Group is currently assessing the impact of adopting PFRS 16.

Deferred effectivity

 Amendments to PFRS 10 and PAS 28, Sale or Contribution of Assets between an Investor and its Associate or
Joint Venture

The amendments address the conflict between PFRS 10 and PAS 28 in dealing with the loss of control of a
subsidiary that is sold or contributed to an associate or joint venture. The amendments clarify that a full gain or
loss is recognized when a transfer to an associate or joint venture involves a business as defined in PFRS 3,
Business Combinations. Any gain or loss resulting from the sale or contribution of assets that does not constitute
a business, however, is recognized only to the extent of unrelated investors’ interests in the associate or joint
venture.
On January 13, 2016, the Financial Reporting Standards Council postponed the original effective date of
January 1, 2016 of the said amendments until the International Accounting Standards Board has completed its
broader review of the research project on equity accounting that may result in the simplification of accounting for
such transactions and of other aspects of accounting for associates and joint ventures.

Basis of Consolidation
The consolidated financial statements comprise the financial statements of the Company and its subsidiaries. Control
is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and
has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee
if and only if the Group has:

 Power over the investee (i.e., existing rights that give it the current ability to direct the relevant activities of the
investee);
 Exposure, or rights, to variable returns from its involvement with the investee; and
 The ability to use its power over the investee to affect its returns.

When the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant
facts and circumstances in assessing whether it has power over an investee, including:

 The contractual arrangement with the other vote holders of the investee
 Rights arising from other contractual arrangements
 The Group’s voting rights and potential voting rights

The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are
changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains
control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and
expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements
from the date the Group gains control until the date the Group ceases to control the subsidiary.

When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies
into line with the Group’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash
flows relating to transactions between members of the Group are eliminated in full on consolidation.

A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.
If the Company loses control over a subsidiary, it:

 Derecognizes the assets (including goodwill) and liabilities of the subsidiary


 Derecognizes the carrying amount of any non-controlling interests
 Derecognizes the cumulative translation differences recorded in equity
 Recognizes the fair value of the consideration received
 Recognizes the fair value of any investment retained
 Recognizes any surplus or deficit in profit or loss

Notes to Consolidated Financial Statements


 Reclassifies the Company’s share of components previously recognized in other comprehensive income (OCI) to
profit or loss or retained earnings, as appropriate, as would be required if the Company had directly disposed of
the related assets or liabilities

The consolidated financial statements include the accounts of the Company and the following wholly owned
subsidiaries:

Percentage of
Country of Incorporation Principal Activity Ownership
Convenience Distribution, Inc. (CDI) Philippines Warehousing and Distribution 100%
Store Sites Holding, Inc. (SSHI) Philippines Holding 100%

SSHI’s capital stock, which is divided into 40% common shares and 60% preferred shares, are owned by the
Company and by Philippine Seven Corporation-Employees Retirement Plan (PSC-ERP) through its trustee, Bank of the
Philippines Islands-Asset Management and Trust Group (BPI-AMTG), respectively. These preferred shares which
accrue and pay guaranteed preferred dividends and are redeemable at the option of the holder are recognized as a
financial liability in accordance with PFRS (see Note 15). The Company owns 100% of SSHI’s common shares, which,
together with common key management, gives the Company control over SSHI.

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The financial statements of the subsidiaries are prepared for the same financial reporting period as the Company,
using uniform accounting policies. Intercompany transactions, balances and unrealized gains and losses are
eliminated in full.

Cash and Cash Equivalents


Cash includes cash on hand, in banks and cash equivalents. Cash in banks earn interest at the prevailing bank
deposit rates. Cash equivalents are short-term, highly liquid investments that are readily convertible to known
amounts of cash with original maturities of three months or less from the date of acquisition and are subject to
insignificant risk of change in value.

Financial Instruments
The Group recognizes a financial asset or a financial liability in the consolidated balance sheet when it becomes a
party to the contractual provisions of the instrument.

Initial Recognition and Measurement


Financial assets and financial liabilities are recognized initially at fair value. Transaction costs are included in the
initial measurement of all financial assets and financial liabilities, except for financial instruments measured at fair
value through profit or loss (FVPL).

All regular way purchases and sales of financial assets are recognized on the trade date, i.e., the date the Group
commits to purchase or sell the financial asset. Regular way purchases or sales of financial assets require delivery of
assets within the time frame generally established by regulation in the market place.

The Group classifies its financial assets as financial assets at FVPL, held-to-maturity (HTM) investments, available-
for-sale (AFS) financial assets or loans and receivables. Financial liabilities, on the other hand, are classified as either
financial liabilities at FVPL or other financial liabilities. The classification depends on the purpose for which the
financial assets and financial liabilities were acquired. Management determines the classification at initial recognition
and, where allowed and appropriate, re-evaluates classification at every balance sheet date.

As at December 31, 2016 and 2015, the Group’s financial instruments include loans and receivables and other
financial liabilities.

Loans and Receivables


Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in
an active market. They are not entered into with the intention of immediate or short-term resale and are not classified
as financial assets at FVPL, HTM investments or AFS financial assets. After initial measurement, loans and
receivables are subsequently measured at amortized cost using the effective interest method, less impairment.
Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are
an integral part of the effective interest rates. The amortization is included as part of interest income in the
consolidated statement of comprehensive income. Losses arising from impairment are recognized in the consolidated
statement of comprehensive income. Loans and receivables are classified as current assets if maturity is within 12
months from balance sheet date. Otherwise, these are classified as noncurrent assets.

The Group’s loans and receivables consists of cash and cash equivalents, short-term investment, receivables and
deposits (excluding rent deposits which are non-refundable) as at December 31, 2016 and 2015 (see Notes 4, 5, 7, 9
and 10).

Other Financial Liabilities


This category pertains to financial liabilities that are neither held-for-trading nor designated as at FVPL upon the
inception of the liability. Other financial liabilities are subsequently carried at amortized cost, taking into account the
impact of applying the effective interest rate method of amortization (or accretion) for any related premium, discount
and any directly attributable transaction costs.

Other financial liabilities are classified as current liabilities if maturity is within the normal operating cycle of the Group
and it does not have unconditional right to defer settlement of the liability for at least 12 months from balance sheet
date. Otherwise, these are classified as noncurrent liabilities.

The Group’s other financial liabilities consist of bank loans, long-term debt, accounts payable and accrued expenses,
other current liabilities (excluding statutory liabilities), and cumulative redeemable preferred shares as at
December 31, 2016 and 2015 (see Notes 11, 12, 13 and 15).
Classification of Financial Instruments Between Liability and Equity
A financial instrument is classified as liability if it provides for a contractual obligation to:

 deliver cash or another financial asset to another entity; or


 exchange financial assets or financial liabilities with another entity under conditions that are potentially
unfavorable to the Group; or
 satisfy the obligation other than by the exchange of a fixed amount of cash or another financial asset for a fixed
number of own equity shares.

If the Group does not have an unconditional right to avoid delivering cash or another financial asset to settle its
contractual obligation, the obligation meets the definition of a financial liability. The components of issued financial
instruments that contain both liability and equity elements are accounted for separately, with the equity component
being assigned the residual amount after deducting from the instrument as a whole the amount separately
determined as the fair value of the liability component on the date of issue.

Fair Value Measurement


Fair value is the estimated price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction between market participants at the measurement date. The fair value measurement is based on the
presumption that the transaction to sell the asset or transfer the liability takes place either:

 In the principal market for the asset or liability; or


 In the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Group.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when
pricing the asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate
economic benefits by using the asset in its highest and best use or by selling it to another market participant that
would use the asset in its highest and best use.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within
the fair value hierarchy, described, as follows, based on lowest level of input that is significant to the fair value
measurement as a whole:

 Level 1 - Quoted (unadjusted) prices in active markets for identical assets or liabilities
 Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is
directly or indirectly observable
 Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable

For assets and liabilities that are recognized in the consolidated financial statements on a recurring basis, the Group

Notes to Consolidated Financial Statements


determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on
the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

For the purpose of fair value disclosures, the Group has determined classes of assets and liabilities on the basis of the
nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy.

“Day 1” Difference
Where the transaction price in a non-active market is different from the fair value from other observable current
market transactions in the same instrument or based on a valuation technique whose variables include only data from
observable market, the Group recognizes the difference between the transaction price and fair value (a “Day 1”
difference) in profit or loss unless it qualifies for recognition as some other type of asset. In cases where use is made of
data which is not observable, the difference between the transaction price and model value is only recognized in profit
or loss when the inputs become observable or when the instrument is derecognized. For each transaction, the Group
determines the appropriate method of recognizing the “Day 1” difference.

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Offsetting of Financial Instruments


Financial assets and financial liabilities are offset and the net amount is reported in the consolidated balance sheet if
there is a currently enforceable legal right to set off the recognized amounts and there is intention to settle on a net
basis, or to realize the asset and settle the liability simultaneously. The Group assesses that it has a currently
enforceable right of offset if the right is not contingent on a future event, and is legally enforceable in the normal
course of business, event of default, and event of insolvency or bankruptcy of the Group and all of the counterparties.

Impairment of Financial Assets


The Group assesses at each balance sheet date whether a financial asset or a group of financial assets is impaired.

Financial Assets Carried at Amortized Cost


The Group first assesses whether objective evidence of impairment exists for financial assets that are individually
significant and collectively for financial assets that are not individually significant. Objective evidence includes
observable data that comes to the attention of the Group about loss events such as but not limited to significant
financial difficulty of the counterparty, a breach of contract, such as a default or delinquency in interest or principal
payments, probability that the borrower will enter bankruptcy or other financial reorganization. If it is determined that
no objective evidence of impairment exists for an individually or collectively assessed financial asset, whether
significant or not, the asset is included in the group of financial assets with similar credit risk characteristics and that
group of financial assets is collectively assessed for impairment. Assets that are individually assessed for impairment
and for which an impairment loss is or continue to be recognized are not included in a collective assessment of
impairment. The impairment assessment is performed at each balance sheet date. For the purpose of a collective
evaluation of impairment, financial assets are grouped on the basis of such credit risk characteristics such as customer
type, payment history, past-due status and term.

If there is objective evidence that an impairment loss on loans and receivables has been incurred, the amount of
impairment loss is measured as the difference between the financial asset’s carrying amount and the present value of
estimated future cash flows (excluding future expected credit losses that have not been incurred) discounted at the
financial asset’s original effective interest rate (i.e., the effective interest rate computed at initial recognition). The
carrying amount of the asset is reduced by the impairment loss, which is recognized in profit or loss.

Loans and receivables, together with the related allowance, are written off when there is no realistic prospect of future
recovery and all collateral has been realized. If, in a subsequent period, the amount of the impairment loss decreases
and the decrease can be related objectively to an event occurring after the impairment was recognized, the previously
recognized impairment loss is reversed. Any subsequent reversal of an impairment loss is recognized in profit or loss
to the extent that the carrying value of the asset does not exceed what its amortized cost would have been had the
impairment not been recognized at the date the impairment is reversed.

Derecognition of Financial Assets and Liabilities

Financial Assets
A financial asset (or, where applicable, a part of a financial asset or a part of a group of similar financial assets) is
derecognized (i.e., removed from the Group’s consolidated balance sheet) when:

 the rights to receive cash flows from the asset have expired; or
 the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the
received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and either
(a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither
transferred nor retained substantially all risks and rewards of the asset, but has transferred control of the asset.

Where the Group has transferred its rights to receive cash flows from an asset or has entered in to pass-through
arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has
neither transferred nor retained substantially all the risks and rewards of the asset, nor transferred control of the
asset, the Group continues to recognize the transferred asset to the extent of the Group’s continuing involvement. In
that case, the Group also recognizes an associated liability. The transferred asset and the associated liability are
measured on a basis that reflects the rights and obligations that the Group has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the
original carrying amount of the asset and the maximum amount of consideration that the Group could be required to
repay.
Financial Liabilities
A financial liability is derecognized when the obligation under the liability is discharged, cancelled or has expired.

Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the
terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition
of the original liability and the recognition of a new liability, and the difference in the respective carrying amounts is
recognized in profit or loss.

Current versus Noncurrent Classification


The Group presents assets and liabilities in the consolidated balance sheet based on current/noncurrent classification.

An asset is current when it is:

 Expected to be realized or intended to be sold or consumed in normal operating cycle;


 Held primarily for the purpose of trading;
 Expected to be realized within twelve months after the reporting period; or
 Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve
months after the reporting period.

All other assets are classified as noncurrent.

A liability is current when:

 It is expected to be settled in normal operating cycle;


 It is held primarily for the purpose of trading;
 It is due to be settled within twelve months after the reporting period; or
 There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting
period.

The Group classifies all other liabilities as noncurrent.

Deferred tax assets and liabilities are classified as noncurrent assets and liabilities.

Inventories
Inventories are stated at the lower of cost and net realizable value (NRV). Cost of inventories is determined using the
first-in, first-out method. NRV is the selling price in the ordinary course of business, less the estimated cost of
marketing and distribution.

Prepayments and Other Current Assets


Prepayments and other current assets are primarily comprised of advances to suppliers, deferred input value-added
tax (VAT), prepaid rent, supplies, and prepaid store expenses. Prepayments and other current assets that are
expected to be realized for no more than 12 months after the balance sheet date are classified as current assets;

Notes to Consolidated Financial Statements


otherwise, these are classified as other noncurrent assets. These are recorded as assets and expensed when utilized
or expired.

Advances to suppliers are down payments for acquisitions of property and equipment not yet received. Once the
property and equipment are received, the asset is recognized together with the corresponding liability. These are
stated at cost less any impairment in value.

Property and Equipment


Property and equipment, except for land, are carried at cost less accumulated depreciation and amortization, and any
impairment in value.

The initial cost of property and equipment consists of its purchase price and any directly attributable costs of bringing
the asset to its working condition and location for its intended use. Expenditures incurred after the assets have been
put into operation, such as repairs and maintenance and overhaul costs, are recognized in profit or loss in the period in
which the costs are incurred.

In situations where it can be clearly demonstrated that the expenditures have resulted in an increase in the future
economic benefits expected to be obtained from the use of an item of property and equipment beyond its originally
assessed standard of performance, the expenditures are capitalized as an additional cost of the assets.

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Construction in-progress includes cost of construction and other direct costs and is stated at cost less any impairment
in value. Construction in progress is not depreciated until such time the relevant assets are completed and put into
operational use.

Depreciation and amortization commences once the assets are available for use. It ceases at the earlier of the date
that it is classified as noncurrent asset held-for-sale and the date the asset is derecognized.

Depreciation is computed on a straight-line method over the estimated useful lives of the assets as follows:

Years
Buildings and improvements 10 to 12
Store furniture and equipment 5 to 10
Office furniture and equipment 3 to 5
Transportation equipment 3 to 5
Computer equipment 3

Leasehold improvements are amortized over the estimated useful life of the improvements, ranging from five to ten
years, or the term of the lease, whichever is shorter.

The assets’ estimated useful lives and depreciation and amortization method are reviewed periodically to ensure that
the period and method of depreciation and amortization are consistent with the expected pattern of economic benefits
from the items of property and equipment. When assets are retired or otherwise disposed of, the cost or revalued
amount and the related accumulated depreciation and amortization and any impairment in value are removed from
the accounts and any resulting gain or loss is recognized in profit or loss. The revaluation increment in equity relating
to the revalued asset sold is transferred to retained earnings.

Fully depreciated assets are retained in the books until disposed.

Land is carried at revalued amount less any impairment in value. Revaluations shall be made with sufficient regularity
to ensure that the carrying amount does not differ materially from that which would be determined using fair value at
the end of the financial reporting period. When the fair value of a revalued land differs materially from its carrying
amount, a further revaluation is required.

A revaluation surplus is recorded in OCI and credited to the “Revaluation increment on land – net of deferred income
tax liability” account in equity. However, to the extent that the Group reverses a revaluation deficit of the same asset
previously recognized in profit or loss, the increase is recognized in profit or loss. A revaluation deficit is recognized in
the profit or loss, except to the extent that it offsets an existing surplus on the same asset recognized in “Revaluation
increment on land - net of deferred income tax liability” account in equity.

Deposits
Deposits are amounts paid as guarantee in relation to noncancellable lease agreements entered into by the Group.
These deposits are recognized at cost and can be refunded or applied to future billings.

Intangible Assets
Intangible assets acquired separately are measured on initial recognition at cost. Following initial recognition,
intangible assets are carried at cost less accumulated amortization and any accumulated impairment loss, if any.
Internally-generated intangible assets, if any, excluding capitalized development costs, are not capitalized and
expenditure is reflected in profit or loss in which the expenditure is incurred.

The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are
amortized over the useful economic life and assessed for impairment whenever there is an indication that the
intangible asset may be impaired. The amortization period and amortization method for an intangible asset with a
finite useful life is reviewed at least at each balance sheet date. Changes in the expected useful life or the expected
pattern of consumption of future economic benefits embodied in the asset is accounted for by changing the
amortization period or method, as appropriate, and treated as changes in accounting estimates. The amortization
expense on intangible assets with finite lives is recognized in profit or loss in the expense category consistent with the
function of the intangible asset. Intangible assets with indefinite useful lives are tested for impairment annually at the
cash generating unit (CGU) level and are not amortized. The useful life of an intangible asset with an indefinite life is
reviewed annually to determine whether indefinite useful life assessment continues to be supportable. If not, the
change in the useful life assessment from indefinite to finite is made on a prospective basis. Gains or losses arising
from derecognition of an intangible asset are measured as the difference between the net disposal proceeds, if any,
and the carrying amount of the asset and are recognized in profit or loss when the asset is derecognized.
Software and Program Cost
Software and program cost, which are not specifically identifiable and integral to a specific computer hardware, are
shown under “Goodwill and other noncurrent assets” account in the consolidated balance sheet. These are carried at
cost, less accumulated amortization and any impairment in value. Amortization is computed on a straight-line method
over their estimated useful life of five years.

Goodwill
Goodwill, included in “Goodwill and other noncurrent assets” account in the consolidated balance sheet, represents
the excess of the cost of an acquisition over the fair value of the businesses acquired. Following initial recognition,
goodwill is measured at cost less any accumulated impairment losses. Goodwill are tested for impairment annually at
the CGU level and are not amortized.

Impairment of Non-financial Assets


The Group assesses at each balance sheet date whether there is an indication that its non-financial assets such as
property and equipment, rent deposits and intangible assets may be impaired. If any such indication exists, or when
annual impairment testing for an asset is required, the Group makes an estimate of the asset’s recoverable amount.
An asset’s recoverable amount is the higher of an asset’s or CGU’s fair value less costs to sell and its value in use and
is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of
those from other assets or groups of assets. For land, the asset’s recoverable amount is the higher of the land’s net
selling price, which may be obtained from its sale in an arm’s-length transaction, and its value in use. For goodwill,
the asset’s recoverable amount is its value in use. Where the carrying amount of an asset exceeds its recoverable
amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use,
the estimated future cash flows are discounted to their present value, using a pre-tax discount rate that reflects
current market assessments of the time value of money and risks specific to the asset. Impairment losses, if any, are
recognized in profit or loss, except for revalued land when revaluation was taken to OCI. In this case, the impairment
is also recognized in OCI up to the amount of any previous revaluation.

For non-financial assets, excluding goodwill, an assessment is made at each balance sheet date as to whether there
is any indication that previously recognized impairment losses may no longer exist or may have decreased. If such
indication exists, the recoverable amount is estimated. A previously recognized impairment loss is reversed only if
there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment
loss was recognized. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That
increased amount cannot exceed the carrying amount that would have been determined, net of depreciation and
amortization, had no impairment loss been recognized for the asset in previous years. Such reversal is recognized in
profit or loss, unless the asset is carried at revalued amount, in which case, the reversal is treated as a revaluation
increase. After such reversal, the depreciation charge is adjusted in the future periods to allocate the asset’s revised
carrying amount, less any residual value, on a systematic basis over its remaining useful life.

Goodwill is reviewed for impairment, annually or more frequently if event or changes in circumstances indicate that
the carrying value may be impaired. Impairment is determined for goodwill by assessing the recoverable amount of
the CGU or group of CGUs to which the goodwill relates. Where the recoverable amount of the CGU or group of CGUs
is less than the carrying amount of the CGU or group of CGUs to which goodwill has been allocated, an impairment

Notes to Consolidated Financial Statements


loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods.

Deposits Payable
Deposits payable are amounts received from franchisees, store operators and sublessees as guarantee in relation to
various agreements entered into by the Group. These deposits are recognized at cost and payable or applied to future
billings.

Cumulative Redeemable Preferred Shares


Cumulative redeemable preferred shares that exhibit characteristics of a liability is recognized as a financial liability in
the consolidated balance sheet, net of transaction cost. The corresponding dividends on those shares are charged as
interest expense in profit or loss.

Deferred Revenue
Deferred revenue is recognized for cash received for income not yet earned. Deferred revenue is recognized as
revenue over the life of the revenue contract or upon delivery of goods or services.

Equity

Common Stock
Common stock is measured at par value for all shares issued and outstanding.

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A n n ua l R e p o r t 2 0 1 6

Additional Paid-in Capital


When the shares are sold at premium, the difference between the proceeds and the par value is credited to the
“Additional paid-in capital” account. When shares are issued for a consideration other than cash, the proceeds are
measured by the fair value of the consideration received.

In case the shares are issued to extinguish or settle the liability of the Group, the shares shall be measured either at
the fair value of the shares issued or fair value of the liability settled, whichever is more reliably determinable.

Retained Earnings
Retained earnings represent the cumulative balance of net income or loss, dividend distributions, prior period
adjustments, effects of the changes in accounting policy and other capital adjustments. When the retained earnings
account has a debit balance, it is called “deficit.” A deficit is not an asset but a deduction from equity.

Stock Dividends
Stock dividends are distribution of the earnings in the form of own shares. When stock dividends are declared, the
amount of stock dividends is transferred from retained earnings to capital stock.

Treasury Stock
Treasury stock is stated at acquisition cost and is deducted from equity. No gain or loss is recognized in profit or loss
on the purchase, sale, issuance or cancellation of the Group’s own equity instruments.

OCI
OCI comprises of items of income and expenses that are not recognized in profit or loss as required or permitted by
other PFRS. The Group’s OCI pertains to actuarial gains and losses from retirement benefits and revaluation
increment on land which are recognized in full in the period in which they occur.

Revenue Recognition
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Group and the
amount of revenue can be measured reliably. The Group has assessed its revenue arrangements against the criteria
enumerated under PAS 18, Revenue Recognition, and concluded that it is acting as principal in all arrangements,
except for its sale of consigned goods. The following specific recognition criteria must also be met before revenue is
recognized:

Merchandise Sales
Revenue from merchandise sales is recognized when the significant risks and rewards of ownership of the goods
have passed to the buyer. Revenue from merchandise sales is measured at the fair value of the consideration
received, excluding discounts, returns, rebates and sales taxes.

The Group operates a customer loyalty programme, Every Day! Rewards, which allows customers to accumulate
points when they purchase products in the stores. The points can be redeemed for free products, subject to a
minimum number of points being obtained.

Consideration received is allocated between the products sold and the points issued, with the consideration allocated
to the points equal to their fair value. Fair value of the points is equal to the retail value of the products that can be
redeemed multiplied by the redemption rate. The fair value of the points issued is deferred (included as part of “Other
current liabilities” account in the consolidated balance sheet) and recognized as revenue when the points are
redeemed.

Franchise Revenue
Franchise fee is recognized upon execution of the franchise agreement and performance of initial services required
under the franchise agreement. Other franchise revenue is recognized in the period earned.

Marketing
Marketing income is recognized when service is rendered. In case of marketing support funds, revenue is recognized
upon start of promotional activity for the suppliers.

Rental
Rental income is accounted for on a straight-line basis over the term of the lease.

Commission
Commission income is recognized upon the sale of consigned goods.

Interest
Interest income is recognized as it accrues based on the effective interest rate method.
Other Income
Other income is recognized when there are incidental economic benefits, other than the usual business operations,
that will flow to the Group and can be measured reliably.

Costs and Expenses Recognition


Costs of merchandise sold are recognized in profit or loss at the point of sale. Expenses are recognized in profit or loss
upon utilization of the services or when they are incurred.

Retirement Benefits
The net defined benefit liability or asset is the aggregate of the present value of the defined benefit obligation at the
end of the financial reporting period reduced by the fair value of plan assets (if any), adjusted for any effect of limiting
a net defined benefit asset to the asset ceiling. The asset ceiling is the present value of any economic benefits
available in the form of refunds from the plan or reductions in future contributions to the plan.

The cost of providing benefits under the defined benefit plans is actuarially determined using the projected unit credit
method.

Net retirement benefits cost comprises the following:

 Service cost
 Net interest on the net defined benefit liability or asset
 Remeasurements of net defined benefit liability or asset

Service costs which include current service costs, past service costs, and gains or losses on non-routine settlements
are recognized as expense in profit or loss. Past service costs are recognized when plan amendment or curtailment
occurs. These amounts are calculated periodically by independent qualified actuaries.

Net interest on the net defined benefit liability or asset is the change during the period in the net defined benefit
liability or asset that arises from the passage of time which is determined by applying the discount rate based on
government bonds to the net defined benefit liability or asset. Net interest on the net defined benefit liability or asset
is recognized as expense or income in profit or loss.

Remeasurements comprising actuarial gains and losses, return on plan assets and any change in the effect of the
asset ceiling (excluding net interest on defined benefit liability) are recognized immediately in OCI in the period in
which they arise. Remeasurements are not reclassified to profit or loss in subsequent periods.

Plan assets are assets that are held by a long-term employee benefit fund or qualifying insurance policies. Plan
assets are not available to the creditors of the Group, nor can they be paid directly to the Group. Fair value of plan
assets is based on market price information. When no market price is available, the fair value of plan assets is
estimated by discounting expected future cash flows using a discount rate that reflects both the risk associated with
the plan assets and the maturity or expected disposal date of those assets (or, if they have no maturity, the expected
period until the settlement of the related obligations). If the fair value of the plan assets is higher than the present
value of the defined benefit obligation, the measurement of the resulting defined benefit asset is limited to the present
value of economic benefits available in the form of refunds from the plan or reductions in future contributions to the

Notes to Consolidated Financial Statements


plan.

The Group’s right to be reimbursed of some or all of the expenditure required to settle a defined benefit obligation is
recognized as a separate asset at fair value when and only when reimbursement is virtually certain.

Leases
The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement
at inception date. The arrangement is assessed for whether the fulfillment of the arrangement is dependent on the
use of a specific asset or assets or the arrangement conveys a right to use the asset or assets, even if that right is not
explicitly specified in the arrangement.

Group as a Lessor
Leases where the Group does not transfer substantially all the risks and rewards of ownership of the asset are
classified as operating leases. Rental income is recognized on a straight-line basis over the term of the lease.

Finance leases which transfer to the lessee substantially all the risks and benefits incidental to ownership of the
leased item, are recorded as finance lease receivable measured at present value of the minimum lease payments.
Lease payments from the lessee are apportioned between interest income and reduction of the lease receivable so as
to achieve a constant rate of interest on the remaining balance of the receivable.

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Group as a Lessee
Leases where the lessor retains substantially all the risks and benefits of ownership of the asset are classified as
operating leases. Operating lease payments are recognized as an expense in the profit or loss on a straight-line basis
over the lease term.

Borrowing Costs
Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a
substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the respective
assets. All other borrowing costs are expensed in the period they occur. Borrowing costs consist of interest and other
costs that an entity incurs in connection with the borrowing of funds.

Foreign Currency-denominated Transactions


The consolidated financial statements are presented in Philippine Peso, which is the Parent Company’s functional and
presentation currency. All subsidiaries evaluate their primary economic and operating environment and determine
their functional currency. Transactions in foreign currency are initially recorded at the exchange rate at the date of
transaction. Outstanding foreign currency-denominated monetary assets and liabilities are translated using the
applicable exchange rate at balance sheet date. Exchange differences arising from translation of foreign currency
monetary items at rates different from those at which they were originally recorded are recognized in profit or loss.

Taxes

Current Income Tax


Current income tax assets and liabilities for the current and prior periods are measured at the amount expected to be
recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those
that have been enacted or substantively enacted at the balance sheet date.

Current income tax relating to items recognized directly in equity is recognized in equity and not in the statement of
comprehensive income.

Deferred Income Tax


Deferred income tax is provided, using the liability method, on all temporary differences at balance sheet date
between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes.

Deferred tax liabilities are recognized for all taxable temporary differences, except:

 where the deferred tax liability arises from the initial recognition of goodwill or of an asset or liability in a
transaction that is not a business combination and, at the time of the transaction, affects neither the accounting
profit nor taxable profit or loss; and
 in respect of taxable temporary differences associated with investments in subsidiaries, associates and interests
in joint ventures, where the timing of the reversal of the temporary differences can be controlled and it is probable
that the temporary differences will not reverse in the foreseeable future.

Deferred tax assets are recognized for all deductible temporary differences and carry forward benefits of unused tax
credits from excess minimum corporate income tax (MCIT) over regular corporate income tax (RCIT), and unused net
operating loss carry over (NOLCO), to the extent that it is probable that sufficient future taxable profit will be available
against which the deductible temporary differences, and the carry forward benefits of MCIT over RCIT and NOLCO
can be utilized, except:

 where the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of
an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects
neither the accounting profit nor taxable profit or loss; and
 in respect of deductible temporary differences associated with investments in subsidiaries, associates and
interests in joint ventures, deferred tax assets are recognized only to the extent that it is probable that the
temporary differences will reverse in the foreseeable future and taxable profit will be available against which the
temporary differences can be utilized.

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent
that it is no longer probable that sufficient future taxable profit will be available to allow all or part of the deferred tax
assets to be utilized. Unrecognized deferred tax assets are reassessed at the end of each reporting period and are
recognized to the extent that it has become probable that sufficient future taxable profit will allow the deferred tax
assets to be recovered.
Deferred income tax assets and liabilities are measured at tax rates that are expected to apply to the year when the
asset is realized or the liability is settled, based on tax rates and tax laws that have been enacted or substantively
enacted as at the end of the reporting period.

Deferred income tax relating to items recognized outside profit or loss is recognized outside profit or loss. Deferred
income tax items are recognized in correlation to the underlying transaction either in other comprehensive income or
directly in equity.

Deferred tax assets and liabilities are offset, if a legally enforceable right exists to offset current tax assets against
current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

VAT
Input VAT is the 12% indirect tax paid by the Group in the course of the Group’s trade or business on local purchase of
goods or services, including lease or use of property, from a VAT-registered entity. For acquisition of capital goods
over P=1,000,000, the related input taxes are deferred and amortized over the useful life of the asset or 60 months,
whichever is shorter, commencing on the date of acquisition. Deferred input VAT which is expected to be utilized for
more than 12 months after the balance sheet date is included under “Goodwill and other noncurrent assets” account
in the consolidated balance sheet.

Output VAT pertains to the 12% tax due on the sale of merchandise and lease or exchange of taxable goods or
properties or services by the Group.

If at the end of any taxable month the output VAT exceeds the input VAT, the excess shall be paid by the Group. Any
outstanding balance is included under “Other current liabilities” account in the consolidated balance sheet. If the input
VAT exceeds the output VAT, the excess shall be carried over to the succeeding month or months. Excess input VAT
is included under “Prepayments and other current assets” account in the consolidated balance sheet. Input VAT on
capital goods may, at the option of the Group, be refunded or credited against other internal revenue taxes, subject to
certain tax laws.

Revenue, expenses and assets are recognized net of the amount of VAT.

Segment Reporting
Operating segments are components of an entity for which separate financial information is available and evaluated
regularly by management in deciding how to allocate resources and assessing performance. The Group considers the
store operation as its primary activity and its only business segment. Franchising, renting of properties and
commissioning on bills payment services are considered an integral part of the store operations.

Earnings Per Share


Basic earnings per share is calculated by dividing the net income for the year attributable to common shareholders by
the weighted average number of shares outstanding during the year, excluding treasury shares.

Diluted earnings per share is calculated by dividing the net income for the year attributable to common shareholders

Notes to Consolidated Financial Statements


by the weighted average number of shares outstanding during the year, excluding treasury shares and adjusted for
the effects of all potential dilutive common shares, if any.

In determining both the basic and diluted earnings per share, the effect of stock dividends, if any, is accounted for
retrospectively.

Provisions
Provisions are recognized when: (a) the Group has a present obligation (legal or constructive) as a result of a past
event; (b) it is probable that an outflow of resources embodying economic benefits will be required to settle the
obligation; and (c) a reliable estimate can be made of the amount of the obligation. If the effect of the time value of
money is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that
reflects current market assessments of the time value of money and, where appropriate, the risks specific to the
liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as interest
expense. When the Group expects a provision or loss to be reimbursed, the reimbursement is recognized as a
separate asset only when the reimbursement is virtually certain and its amount is estimable. The expense relating to
any provision is presented in profit or loss, net of any reimbursement.

Contingencies
Contingent liabilities are not recognized in the consolidated financial statements. They are disclosed unless the
possibility of an outflow of resources embodying economic benefits is remote. Contingent assets are not recognized in

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A n n ua l R e p o r t 2 0 1 6

the consolidated financial statements but disclosed when an inflow of economic benefit is probable. Contingent
assets are assessed continually to ensure that developments are appropriately reflected in the consolidated financial
statements. If it has become virtually certain that an inflow of economic benefits will arise, the asset and the related
income are recognized in the consolidated financial statements.

Events after the Balance Sheet Date


Post year-end events that provide additional information about the Group’s position at the balance sheet date
(adjusting events) are reflected in the consolidated financial statements. Post year-end events that are non-adjusting
events are disclosed in the notes to the consolidated financial statements when material.

3. Use of Significant Accounting Judgments, Estimates and Assumptions

The preparation of the consolidated financial statements in accordance with PFRS requires management to make
judgments, estimates and assumptions that affect the amounts reported in the consolidated financial statements and
notes. The judgments, estimates and assumptions used in the consolidated financial statements are based upon
management’s evaluation of relevant facts and circumstances as at balance sheet date. Future events may occur
which can cause the assumptions used in arriving at those judgments, estimates and assumptions to change. The
effects of any changes will be reflected in the consolidated financial statements of the Group as they become
reasonably determinable.

Judgments
In the process of applying the Group’s accounting policies, management has made the following judgments, apart
from those involving estimations, which have the most significant effect on amounts recognized in the consolidated
financial statements:

Classification of Financial Instruments


The Group classifies a financial instrument, or its components, on initial recognition as a financial asset, liability or
equity instrument in accordance with the substance of the contractual arrangement and the definitions of a financial
asset, liability or equity instrument. The substance of a financial instrument, rather than its legal form, governs its
classification in the consolidated balance sheet.

Financial assets are classified as financial assets at FVPL, HTM investments, AFS financial assets and loans and
receivables. Financial liabilities, on the other hand, are classified as financial liabilities at FVPL and other financial
liabilities.

The Group classifies the cumulative redeemable preferred shares as liability in accordance with the redemption
features contained in the shareholders agreement (see Note 15). The cumulative redeemable preferred shares are
redeemable at the option of the holder.

The Group determines the classification at initial recognition and, where allowed and appropriate, re-evaluates this
classification at every balance sheet date.

The Group’s financial instruments consist of loans and receivables and other financial liabilities (see Notes 28 and 29).

Classification of Leases

1. Finance lease as lessor

The Group entered into a sale and leaseback transaction with an armored car service provider where it has
determined that the risks and rewards related to the armored vehicles leased out will be transferred to the lessee
at the end of the lease term. As such, the lease agreement was accounted for as a finance lease (see Note 25).

b. Operating lease as lessee

The Group entered into various property leases, where it has determined that the risks and rewards related to the
properties are retained with the lessors. As such, the lease agreements were accounted for as operating leases
(see Note 25).

c. Operating lease as lessor

The Group entered into property subleases on its leased properties. The Group determined that it retains all the
significant risks and rewards of these properties which are leased out on operating leases (see Note 25).
Estimates
The key assumptions concerning the future and other key sources of estimation uncertainty at the balance sheet date
that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities follow:

Determination of Fair Values


The fair value for financial instruments traded in active markets at the balance sheet date is based on their quoted
market price or dealer price quotations (bid price for long positions and ask price for short positions), without any
deduction for transaction costs. When current bid and ask prices are not available, the price of the most recent
transaction provides evidence of the current fair value as long as there has not been a significant change in economic
circumstances since the time of the transaction.

For all other financial instruments not listed in an active market, the fair value is determined by using appropriate
valuation techniques. Valuation techniques include net present value techniques, comparison to similar instruments
for which observable market prices exist, options pricing models, and other relevant valuation models.

Note 28 presents the fair values of the financial instruments and the methods and assumptions used in estimating
their fair values.

Impairment of Loans and Receivables


The Group reviews its loans and receivables at each balance sheet date to assess whether a provision for impairment
should be recognized in profit or loss or loans and receivables balance should be written off. In particular, judgment by
management is required in the estimation of the amount and timing of future cash flows when determining the level of
allowance required. Such estimates are based on assumptions about a number of factors and actual results may
differ, resulting in future changes to the allowance. Moreover, management evaluates the presence of objective
evidence of impairment which includes observable data that comes to the attention of the Group about loss events
such as but not limited to significant financial difficulty of the counterparty, a breach of contract, such as a default or
delinquency in interest or principal payments, probability that the borrower will enter bankruptcy or other financial re-
organization.

In addition to specific allowances against individually significant loans and receivables, the Group also makes a
collective impairment allowance against exposures which, although not specifically identified as requiring a specific
allowance, have a greater risk of default than when originally granted. This takes into consideration the credit risk
characteristics such as customer type, payment history, past due status and term.

The carrying value of loans and receivables amounted to P = 2,976,005,090 and P = 1,857,374,371 as at
December 31, 2016 and 2015, respectively (see Notes 4, 5, 9, 10 and 29). Allowance for impairment on loans and
receivables amounted to P
=31,938,309 and P= 24,435,395 as at December 31, 2016 and 2015 (see Note 5). Provision
for impairment amounted to P
=7,502,914, P
=5,742,310 and nil in 2016, 2015 and 2014, respectively (see Notes 5 and
18).

Decline in Inventory Value


Provisions are made for inventories whose NRV are lower than their carrying cost. This entails determination of
replacement costs and costs necessary to make the sale. The estimates are based on a number of factors, such as

Notes to Consolidated Financial Statements


but not limited to the age, status and recoverability of inventories.

The carrying value of inventories amounted to P = 2,131,441,288 and P =1,568,498,726 as at December 31, 2016 and
2015, respectively (see Note 6). No provisions for decline in inventory value were recognized in 2016, 2015 and 2014.

Impairment of Non-financial Assets Other than Goodwill


The Group assesses whether there are any indicators of impairment for all non-financial assets, other than goodwill,
at each balance sheet date. These non-financial assets (property and equipment, rent deposits, and software and
program cost) are tested for impairment when there are indicators that the carrying amounts may not be recoverable.

The factors that the Group considers important which could trigger an impairment review include the following:

 significant underperformance relative to expected historical or projected future operating results;


 significant changes in the manner of use of the acquired assets or the strategy for overall business;
 significant negative industry or economic trends; and
 decline in appraised value.

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As at December 31, 2016 and 2015, the Group has not identified any indicators or circumstances that would indicate
that the Group’s property and equipment, rent deposits and software and program cost are impaired. Thus, no
impairment losses on these non-financial assets were recognized for the years ended December 31, 2016, 2015 and
2014.

The carrying values of these non-financial assets are as follows:

2016 2015
Property and equipment (Note 8) P
= 5,711,671,416 P
=4,753,670,268
Rent deposits (Note 9) 462,997,009 415,821,916
Software and program cost (Note 10) 3,440,601 2,524,677

Revaluation of Land
The Group’s parcels of land are carried at revalued amounts, which approximate its fair values at the date of the
revaluation, less any subsequent accumulated impairment losses. The valuations of land are performed by
independent appraisers. Revaluations are made every two to five years or more frequently as necessary, to ensure
that the carrying amounts do not differ materially from those which would be determined using fair values at balance
sheet date.

The last appraisal made on the Group’s parcels of land was in June 2014, where it resulted to an additional appraisal
increase of P
=21,842,000. The carrying amount of land amounted to P = 66,323,000 as at December 31, 2016 and 2015
(see Note 8).

Impairment of Goodwill
The Group determines whether goodwill is impaired at least on an annual basis. This requires an estimation of the
value in use of the CGUs to which the goodwill is allocated. Estimating the value in use amount requires management
to make an estimate of the expected future cash flows from the CGUs and also to choose a suitable discount rate in
order to calculate the present value of those cash flows.

Based on the assessment made by the Group, there is no impairment of goodwill as the recoverable amount of the
CGUs exceeds the carrying amount of the unit, including goodwill as at December 31, 2016 and 2015. The carrying
value of goodwill amounted to P
=65,567,524 as at December 31, 2016 and 2015 (see Note 10). No impairment losses
were recognized in 2016, 2015 and 2014.

Estimation of Retirement Benefits


The net retirement benefits cost and the present value of retirement obligations are determined using actuarial
valuations. The actuarial valuation involves making various assumptions. These include the determination of the
discount rates, future salary increases, mortality rates and future pension increases. Due to the complexity of the
valuation, the underlying assumptions and its long-term nature, defined benefit obligations are highly sensitive to
changes in these assumptions. All assumptions are reviewed at each financial reporting date.

In determining the appropriate discount rate, management considers the interest rates of government bonds that are
denominated in the currency in which the benefits will be paid, with extrapolated maturities corresponding to the
expected duration of the defined benefit obligation.

The mortality rate is based on publicly available mortality tables. Future salary increases and pension increases are
based on expected future inflation rates.

The Group’s net retirement obligations amounted to P= 117,038,962 and P


=100,870,628 as at December 31, 2016 and
2015, respectively (see Note 23). Retirement benefits cost amounted to P
=27,105,454, P
=23,029,230 and P
=19,867,370
in 2016, 2015 and 2014, respectively (see Notes 22 and 23).

Provisions and Contingencies


The Group has pending legal cases in the ordinary course of business. The Group’s estimate of the probable costs for
the resolution of these legal cases has been developed in consultation with in-house and outside legal counsels and is
based upon the analysis of the potential outcomes. It is possible, however, that future results of operations could be
affected by changes in the estimates or in the effectiveness of strategies relating to these proceedings.

As at December 31, 2016 and 2015, the Group has provisions amounting to P = 8,312,483 and P = 22,718,853,
respectively, and is reported as part of “Others” under “Accounts payable and accrued expenses” account in the
consolidated balance sheets (see Note 12). Provisions and contingencies are further explained in Note 33.
Realizability of Deferred Income Tax Assets
Deferred income tax assets are recognized for all temporary deductible differences to the extent that it is probable
that sufficient future taxable profits will be available against which the deductible temporary differences can be
utilized. Management has determined based on business forecast of succeeding years that there is enough taxable
profits against which the recognized deferred income tax assets will be realized.

The Group’s recognized deferred income tax assets amounted to P


= 123,954,154 and P
= 102,693,630 as at
December 31, 2016 and 2015, respectively (see Note 26).

4. Cash and Cash Equivalents and Short-Term Investment

Cash and Cash Equivalents


This account consists of:

2016 2015
Cash on hand P
= 313,540,267 P
=289,636,424
Cash in banks 1,137,432,406 586,341,649
Cash equivalents 100,000,000 –
P
= 1,550,972,673 P
=875,978,073

Cash in banks earn interest at the respective bank deposit rates. Cash equivalents are made for varying periods up to
three months depending on the immediate cash requirements of the Group and earn interest at the respective cash
equivalent deposit rates.

Short-term Investment
As at December 31, 2016 and 2015, short-term investment amounting to P = 11,083,577 and P
= 10,983,401,
respectively, pertains to time deposit which has a maturity date of more than 90 days.

Interest income from cash and cash equivalents and short-term investment amounted to P
=5,123,099, P
=3,493,205 and
P2,545,822 in 2016, 2015 and 2014, respectively (see Note 21).
=

5. Receivables

2016 2015
Suppliers P
= 589,791,222 P
=408,935,881
Franchisees (Note 31) 531,104,375 329,329,550
Employees 22,689,864 30,389,608
Store operators 15,735,708 3,983,205
Rent 2,977,397 2,007,087
Due from PhilSeven Foundation, Inc. (PFI) (Note 24) 4,725,698 4,088,483

Notes to Consolidated Financial Statements


Lease receivable (Note 25) 3,747,773 3,747,773
Insurance receivable 3,749,206 1,192,091
Note receivable 990,917 990,917
Others 8,242,118 7,030,373
1,183,754,278 791,694,968
Less allowance for impairment 31,938,309 24,435,395
P
= 1,151,815,969 P
=767,259,573

The classes of receivables of the Group are as follows:

 Suppliers – pertains to receivables from the Group’s suppliers for display allowances, annual volume discount and
commission income from different service providers.

 Franchisees – pertains to receivables for the inventory loans obtained by the franchisees at the start of their store
operations and charges for various expenses such as rent and utilities.

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A n n ua l R e p o r t 2 0 1 6

 Employees – includes car loans, salary loans, personal advances and cash shortages from stores which are
charged to employees. Interest earned on receivable from employees amounted to P = 34,315, P
= 16,882 and
P
=13,660 in 2016, 2015 and 2014, respectively (see Note 21).

 Store operators – pertains to the advances given to third party store operators under service agreements (see
Note 31).

 Rent – pertains to receivables from sublease agreements with third parties, which are based on an agreed fixed
monthly rate or as agreed upon by the parties.

 Lease receivable – pertains to a sale and leaseback finance lease agreement entered by the Group with an
armored car service provider (see Note 25).

 Note receivable – pertains to a receivable from a third party borrower evidenced by a written promise of payment
with a five-year term maturing on January 31, 2015. Unamortized discount amounted to nil in 2016 and 2015.
Accretion of interest income amounted to nil in 2016 and 2015 and P = 37,165 in 2014, respectively (see Note 21).

Receivables are noninterest-bearing and are generally on 30 to 90 day terms except for loans to employees, lease
receivable and notes receivable with annual interest rates of 10.00%, 7.00% and 6.32%, respectively (see Note 25).

Impairment on receivables is based on individual and collective assessment of accounts. Movements in allowance for
impairment are as follows:

2016
Provision
Beginning for the year Ending
balances (Note 18) Reversal balances
Suppliers P
= 21,308,244 P
=– P=– P
= 21,308,244
Franchisees 214,342 1,978,562 – 2,192,904
Employees 539,921 785,662 – 1,325,583
Store operators 365,801 – – 365,801
Rent 2,007,087 – – 2,007,087
Lease receivable – 3,747,773 – 3,747,773
Note receivable – 990,917 – 990,917
Total P
= 24,435,395 P
= 7,502,914 P=– P
= 31,938,309

2015
Provision
Beginning for the year Ending
balances (Note 18) Reversal balances
Suppliers P
=15,565,934 P
=5,742,310 P
=– P
=21,308,244
Franchisees 214,342 – – 214,342
Employees 539,921 – – 539,921
Store operators 365,801 – – 365,801
Rent 2,274,184 – (267,097) 2,007,087
Total P
=18,960,182 P
=5,742,310 (P
=267,097) P
=24,435,395

6. Inventories

2016 2015
At cost (Note 17):
Warehouse merchandise P
= 1,263,596,948 P
=910,485,903
Store merchandise 867,844,340 658,012,823
P
= 2,131,441,288 P
=1,568,498,726

No inventories are pledged nor treated as security to outstanding liabilities as at December 31, 2016 and 2015.
7. Prepayments and Other Current Assets

2016 2015
Current portion of:
Deferred input VAT P
= 238,109,999 P
=158,318,201
Deferred lease (Notes 10 and 25) 5,251,131 3,646,778
Prepaid:
Rent 62,897,345 109,315,676
Store expenses 17,940,776 27,653,626
Uniform 2,345,339 4,451,884
Taxes 288,949 182,553
Others 3,050,802 2,129,773
Advances to suppliers 68,723,390 47,053,657
Advances for expenses 83,363,744 41,742,009
Supplies 36,870,174 18,268,211
Others 8,027,398 13,288,330
P
= 526,869,047 P
=426,050,698

Deferred input VAT pertains to the input VAT on the acquisition of capital goods over P =1,000,000 which are being
amortized over the useful life or 60 months, whichever is shorter, commencing on the date of acquisition.

8. Property and Equipment

Movements in property and equipment are as follows:

2016
At Cost
Land- Store Office
at Revalued Buildings and Furniture and Furniture and Transportation Computer Leasehold Construction
Amount Improvements Equipment Equipment Equipment Equipment Improvements In-Progress Total
Cost/Revalued Amount
Beginning balances P
= 66,323,000 P
= 156,326,344 P
= 4,049,487,830 P= 1,276,678,042 P
= 61,465,034 P
= 377,736,733 P
= 2,180,950,373 P
= 278,691,801 P
= 8,447,659,157
Additions – 1,632,088 1,247,613,373 384,405,440 12,400,541 35,835,739 236,386,649 405,123,891 2,323,397,721
Retirements – (80,545) (146,219,361) (57,659,252) (1,515,000) (10,869,543) (127,147,490) – (343,491,191)
Reclassifications – – (155,804) 155,804 – – 416,178,081 (416,178,081) –
Ending balances 66,323,000 157,877,887 5,150,726,038 1,603,580,034 72,350,575 402,702,929 2,706,367,613 267,637,611 10,427,565,687
Accumulated Depreciation
and Amortization
Beginning balances – 87,145,837 1,911,011,323 599,938,088 35,752,395 238,046,924 822,094,322 – 3,693,988,889
Depreciation and
amortization (Note 18) – 8,448,265 745,904,481 247,002,999 10,058,486 68,013,108 285,969,234 – 1,365,396,573
Retirements – (80,545) (146,219,361) (57,659,252) (1,515,000) (10,869,543) (127,147,490) – (343,491,191)
Reclassifications – – (18,177) 18,177 – – – – –
Ending balances – 95,513,557 2,510,678,266 789,300,012 44,295,881 295,190,489 980,916,066 – 4,715,894,271
Net Book Values P
= 66,323,000 P
= 62,364,330 P
= 2,640,047,772 P
= 814,280,022 P
= 28,054,694 P
= 107,512,440 P
= 1,725,451,547 P
= 267,637,611 P
= 5,711,671,416

2015
At Cost
Land- Store Office
at revalued Buildings and Furniture and Furniture and Transportation Computer Leasehold Construction
Amount Improvements Equipment Equipment Equipment Equipment Improvements In-Progress Total

Notes to Consolidated Financial Statements


Cost/Revalued Amount
Beginning balances = 66,323,000
P = 156,326,344 =
P P2,897,637,390 = 956,106,238
P = 52,347,579
P = 298,187,598 =
P P1,713,536,550 = 185,123,564 =
P P6,325,588,263
Additions – – 1,208,723,010 353,225,388 10,655,186 85,046,116 139,543,624 490,623,580 2,287,816,904
Retirements – – (56,872,570) (32,653,584) (1,537,731) (5,496,981) (69,185,144) – (165,746,010)
Reclassifications – – – – – – 397,055,343 (397,055,343) –
Ending balances 66,323,000 156,326,344 4,049,487,830 1,276,678,042 61,465,034 377,736,733 2,180,950,373 278,691,801 8,447,659,157
Accumulated Depreciation
and Amortization
Beginning balances – 80,224,199 1,378,656,135 436,786,878 27,107,834 187,110,400 657,612,819 – 2,767,498,265
Depreciation and
amortization (Note 18) – 6,921,638 589,227,758 195,791,519 10,182,292 56,433,505 233,666,647 – 1,092,223,359
Retirements – – (56,872,570) (32,640,309) (1,537,731) (5,496,981) (69,185,144) – (165,732,735)
Ending balances – 87,145,837 1,911,011,323 599,938,088 35,752,395 238,046,924 822,094,322 – 3,693,988,889
Net Book Values = 66,323,000
P = 69,180,507 =
P P2,138,476,507 = 676,739,954
P = 25,712,639
P = 139,689,809 P
P = 1,358,856,051 = 278,691,801 =
P P4,753,670,268

Construction in-progress pertains to costs of constructing new stores and renovation of old stores. Completion of
construction and renovation is expected within three months to one year from construction date. The costs of
constructed stores are accumulated until such time the relevant assets are completed and put into operational use.

29
30
A n n ua l R e p o r t 2 0 1 6

In June 2014, the Group revalued its land with cost amounting to P
= 39,866,864 at appraised value of P= 66,323,000, as
determined by a professionally qualified independent appraiser. The additional appraisal increase of P =15,289,400,
which is net of P
=6,552,600 deferred income tax liability (see Note 26), resulting from the revaluation in 2014 was
credited to “Revaluation increment on land – net of deferred income tax liability” account under equity section of the
consolidated balance sheets. The appraised value was determined using the market data approach, wherein the
value of the land is based on sales and listings of comparable properties registered within the vicinity. Land is
categorized under level 3 in the fair value hierarchy.

The cost of fully depreciated property and equipment that are still being used in operations amounted to
P
=1,082,855,591 and P = 854,515,613 as at December 31, 2016 and 2015, respectively. No property and equipment are
pledged nor treated as security to the outstanding liabilities as at December 31, 2016 and 2015.

9. Deposits

2016 2015
Rent P
= 462,997,009 P
=415,821,916
Refundable 122,546,147 85,525,747
Utilities 93,131,856 69,522,572
Others 10,344,774 7,479,457
P
= 689,019,786 P
=578,349,692

Refundable Deposits
Refundable deposits on rent are computed at amortized cost as follows:

2016 2015
Face value of security deposits P
= 158,086,550 P
=116,605,505
Refunded (1,955,036) (3,390,502)
Unamortized discount (33,585,367) (27,689,256)
P
= 122,546,147 P
=85,525,747

Movements in unamortized discount are as follows:

2016 2015
Beginning balance P
= 27,689,256 P
=28,934,239
Additions 11,689,595 2,264,413
Accretion (Note 21) (5,793,484) (3,509,396)
Ending balance P
= 33,585,367 P
=27,689,256

Utilities and Others


These are deposits that earn interest at prevailing market interest rates which can be refunded or applied to future
billings.

10. Goodwill and Other Noncurrent Assets

2016 2015
Noncurrent portion of:
Deferred input VAT P
= 240,336,163 P
=239,469,982
Prepaid rent 88,624,467 69,497,911
Receivable from franchisees (Note 31) 32,751,738 36,836,593
Deferred lease (Note 25) 24,110,125 18,968,629
Intangible assets:
Goodwill 65,567,524 65,567,524
Software and program cost 3,440,601 2,524,677
Garnished accounts 5,984,854 5,937,064
Others 2,650,994 635,912
P
= 463,466,466 P
=439,438,292
Deferred Lease
Deferred lease pertains to “Day 1” loss recognized on refundable deposits on rent, which is amortized on a straight-
line basis over the term of the related leases.

Movements in deferred lease are as follows:

2016 2015
Beginning balance P
= 22,615,407 P
=25,316,723
Additions 11,689,595 2,264,413
Amortization (Note 25) (4,943,746) (4,965,729)
Ending balance 29,361,256 22,615,407
Less current portion (Note 7) 5,251,131 3,646,778
Noncurrent portion P
= 24,110,125 P
=18,968,629

Goodwill
On March 22, 2004, the Group purchased the leasehold rights and store assets of Jollimart Philippines Corporation
(Jollimart) for a total consideration of P
=130,000,000. The excess of the acquisition cost over the fair value of the
assets acquired was recorded as goodwill amounting to P = 70,178,892. In 2008, the Group has recognized an
impairment loss in goodwill amounting to P =4,611,368.

The recoverable amount of the goodwill was estimated based on the value in use calculation using cash flow
projections from financial budgets approved by senior management covering a five year period. The pre-tax discount
rate applied to cash flow projections is 13.13% in 2016 and 13.23% in 2015. The cash flows beyond the five-year
period are extrapolated using 4.00% and 2.00% growth rates in 2016 and 2015, respectively, which are the same as
the long-term average growth rates for the retail industry.

In 2016, the Group has closed one store out of the 24 remaining stores it purchased from Jollimart. No store acquired
from Jollimart was closed in 2015. No impairment loss was recognized in 2016, 2015 and 2014.

Goodwill is allocated to the group of CGUs which comprises the working capital and property and equipment of all the
purchased stores’ assets.

Key assumptions used in value in use calculations in 2016 and 2015 follow:

a. Sales and cost ratio

Sales and cost ratio are based on average values achieved in the five years preceding the start of the budget
period after consideration of the effect of inflation. These are increased over the budget period for anticipated
efficiency improvements. Sales are projected to increase by 4.00% and 2.00% per annum in 2016 and 2015,
respectively, while the cost ratio is set at 68.10% to 73.99% and 68.10% to 73.80% of sales per annum in 2016
and 2015, respectively.

b. Discount rates

Notes to Consolidated Financial Statements


Discount rates reflect management’s estimates of the risks specific to the CGU. Management computed for its
weighted average cost of capital (WACC). In computing for its WACC, the following items were considered:

 Average high and low range of average bank lending rates as of year-end
 Yield on a 10-year Philippine zero coupon bond as of valuation date
 Market risk premium
 Group relevered beta
 Alpha risk

c. Growth rate estimates

Rates are based on average historical growth rate which is consistent with the expected average growth rate for
the industry. Annual inflation and rate of possible reduction in transaction count were also considered in
determining growth rates used.

31
32
A n n ua l R e p o r t 2 0 1 6

Management recognized that unfavorable conditions could materially affect the assumptions used in the
determination of value in use. An increase to 17.71% and 24.86% in the discount rates, or a reduction of growth rates
by 4.96% and 20.51%, would give a value in use equal to the carrying amount of the CGU in 2016 and 2015,
respectively.

Software and Program Cost


Movements in software and program cost are as follows:

2016 2015
Cost:
Beginning balance P
= 19,043,180 P
=19,118,180
Additions 1,870,967 –
Reclassification – (75,000)
Ending balance 20,914,147 19,043,180
Accumulated amortization:
Beginning balance 16,518,503 15,640,500
Amortization (Note 18) 955,043 878,003
Ending balance 17,473,546 16,518,503
Net book value P
= 3,440,601 P
=2,524,677

Garnished Accounts
Garnished accounts pertain to the amount set aside by the Group, as required by the courts, in order to answer for
litigation claims should the results be unfavorable to the Group (see Note 33).

11. Bank Loans and Long-term Debt

Bank Loans
Bank loans in 2016 and 2015 represent unsecured Philippine Peso-denominated short-term borrowings of PSC and
CDI from various local banks, payable in lump-sum in 2017 and 2016, respectively, with annual interest rates ranging
from 2.45% to 2.70% in 2016 and 1.90% to 2.90% in 2015. Bank loans of PSC are subject to monthly repricing based
on market conditions.

Movements in bank loans are as follows:

2016 2015
Beginning balance P
= 1,150,000,000 P
=750,000,000
Availments 1,470,000,000 1,480,000,000
Payments (1,400,000,000) (1,080,000,000)
Ending balance P
= 1,220,000,000 P
=1,150,000,000

Interest expense from these bank loans amounted to P


= 35,447,909, P
=32,135,465 and P=16,060,038 in 2016, 2015 and
2014, respectively (see Note 20). Interest payable amounted to P = 3,406,510 and P = 1,456,250 as at
December 31, 2016 and 2015, respectively (see Note 12).

Long-term Debt
Long-term debt availed in 2016 and 2015 represent unsecured Philippine Peso-denominated borrowings of the Group
from various local banks, payable as follows:

Maturity date Payment schedule Principal Interest rate


March 30, 2021 20 quarterly payments P
=500,000,000 2.77% to 2.86% in 2016
December 9, 2019 36 monthly payments 200,000,000 3.10% in 2016
May 13, 2020 20 quarterly payments 90,000,000 2.90% to 3.20% in 2016,
3.14% to 3.22% in 2015

The interest rates of the long-term debt are subject to quarterly and monthly repricing based on market conditions.

In 2016, advance payments were made on the P


=90,000,000 long-term debt.
Movements in long-term debt are as follows:

2016 2015
Beginning balance P
= 81,000,000 P
=–
Availments 700,000,000 90,000,000
Payments (126,500,000) (9,000,000)
654,500,000 81,000,000
Less current portion 196,166,667 18,000,000
Noncurrent portion P
= 458,333,333 P
=63,000,000

Interest expense from these borrowings amounted to P =8,645,375, P


=1,701,418 and nil in 2016, 2015 and 2014,
respectively (see Note 20). Interest payable amounted to P
=1,769,535 and P
= 142,214 as at December 31, 2016 and
2015, respectively (see Note 12).

The proceeds of the bank loans and long-term debt were used for the operations of the Group.

12. Accounts Payable and Accrued Expenses

2016 2015
Trade payable P
= 2,847,219,113 P
=1,826,297,820
Employee benefits 103,186,803 105,085,550
Rent (Note 25) 102,168,014 75,616,440
Utilities 96,504,939 96,576,822
Outsourced services 68,768,914 64,035,623
Repairs and maintenance 36,161,341 44,187,134
Security services 27,903,068 20,713,819
Bank charges 18,726,700 25,180,700
Advertising and promotion 18,544,931 2,846,192
Interest (Notes 11 and 15) 5,434,795 2,011,954
Others (Note 33) 142,217,967 103,569,342
P
= 3,466,836,585 P
=2,366,121,396

The trade suppliers generally provide 15 or 30-day credit terms to the Group. Prompt payment discounts ranging
from 0.5% to 5.0% are given by a number of trade suppliers. All other payables are due within 3 months.

Others include provisions and accruals of various expenses incurred in the stores’ operations.

13. Other Current Liabilities

2016 2015

Notes to Consolidated Financial Statements


Non-trade accounts payable P
= 553,234,034 P
=743,739,171
Due to franchisees (Note 31) 266,525,286 18,341,605
Output VAT 148,501,142 145,484,516
Retention payable 126,790,021 113,676,477
Withholding taxes 69,391,609 51,317,633
Current portion of deferred revenue on:
Customer loyalty programme 74,116,373 43,628,031
Exclusivity contract (Note 31) – 25,000,000
Unearned revenue 37,222,608 19,368,759
Royalty (Note 31) 30,449,395 24,323,677
Service fees payable 2,142,409 1,456,938
Others (Note 24) 40,553,583 38,184,835
P
= 1,348,926,460 P
=1,224,521,642

33
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A n n ua l R e p o r t 2 0 1 6

Non-trade accounts payable pertains to payable to suppliers of services or supplies that forms part of general and
administrative expenses. These are noninterest-bearing and are due within one year.

Retention payable pertains to the 10% of progress billings related to the construction of stores to be paid upon
satisfactory completion of the construction.

Deferred revenue on exclusivity contract pertains to the 2014 exclusivity contract with a third party ice cream
distributor in the Philippines (see Note 31). Movements in deferred revenue in exclusivity contract are as follows:

2016 2015
Beginning balance P
= 25,000,000 P
=50,000,000
Amortization (Note 31) (25,000,000) (25,000,000)
Ending balance (Note 31) – 25,000,000
Less current portion – 25,000,000
Noncurrent portion P
=– =–
P

Unearned revenue is composed of unearned rent income and unearned revenue from 7-Eleven gift certificates.

Service fees payable pertains to management fee to store operators of service agreement stores computed based on
a graduated percentage multiplied to stores’ gross profit and is payable the following month.

14. Deposits Payable

2016 2015
Franchisees (Note 31) P
= 129,825,027 P
=128,226,587
Service agreements (Note 31) 92,588,090 94,282,022
Rent 17,026,840 15,796,534
P
= 239,439,957 P
=238,305,143

15. Cumulative Redeemable Preferred Shares

Cumulative redeemable preferred shares, which are redeemable at the option of the holder, represent the share of
PSC-ERP through its trustee, BPI-AMTG, in SSHI’s net assets pertaining to preferred shares. PSC-ERP is entitled to an
annual “Guaranteed Preferred Dividend” in the earnings of SSHI starting April 5, 2002, the date when the 25% of the
subscription on preferred shares have been paid, in accordance with the Corporation Code.

The guaranteed annual dividends shall be calculated and paid in accordance with the Shareholders’ Agreement dated
November 16, 2000 which provides that the dividend shall be determined by the BOD of SSHI using the prevailing
market conditions and other relevant factors. Further, the preferred shareholder shall not participate in the earnings of
SSHI except to the extent of guaranteed dividends and whatever is left of the retained earnings will be declared as
dividends in favor of common shareholders. Guaranteed preferred dividends included under “Interest expense”
account in the consolidated statements of comprehensive income amounted to P =206,820, P=154,740 and P =135,780 in
2016, 2015 and 2014, respectively (see Note 20). Interest payable amounted to P =258,750 and P = 413,490 as at
December 31, 2016 and 2015, respectively (see Note 12).

16. Equity

Common Stock
The Group was listed with the Philippine Stock Exchange on February 4, 1998 with total listed shares of 71,382,000
common shares consisting of 47,000,000 shares for public offering and 24,382,000 shares for private placement. The
Group offered the share at a price of P
= 4.40.
Below is the Group’s track record of the registration of securities:

Date of SEC order rendered


effective or permit to sell/ Authorized Issue price/
Date of SEC approval Event Capital Stock Issued shares Par value
January 9, 1998 Outstanding common shares 400,000,000 166,556,250 P
=1.00
February 4, 1998 Listed shares:
Public offering 400,000,000 47,000,000 4.40
Private placement 400,000,000 24,382,000 4.40
August 15, 2008 10% stock dividends 400,000,000 23,725,200 1.00
August 4, 2009 10% stock dividends 400,000,000 26,097,720 1.00
August 27, 2010 5% stock dividends 400,000,000 14,353,746 1.00
August 19, 2011 15% stock dividends 400,000,000 45,214,300 1.00
November 15, 2012 15% stock dividends 600,000,000 51,996,445 1.00
August 15, 2013 15% stock dividends 600,000,000 59,795,912 1.00
As at December 31, 2016 459,121,573

On July 24, 2012, the BOD and at least 2/3 of the Group’s stockholders approved the increase of the Group’s
authorized common stock from P = 400,000,000, divided into 400,000,000 common shares with par value of P
=1 per
share, to P
=600,000,000, divided into 600,000,000 common shares with a par value of P
= 1 per share.

The Philippine SEC approved the Group’s application for the increase in its authorized capital stock on
October 19, 2012.

On September 21, 2016, there was a disposal of 2,000,000 shares under the name of the Group’s President/Chief
Executive Officer via a special block sale through the Philippine Stock Exchange. The disposal had no effect to the
total issued shares of the Group.

Retained Earnings
The Group’s retained earnings is restricted to the extent of P
= 221,745,466 and P
=177,324,949 as at December 31, 2016
and 2015, respectively, for the undistributed earnings of subsidiaries and P= 2,923,246 as at December 31, 2016 and
2015 for the cost of treasury shares.

On November 18, 2015, the BOD approved the appropriation of retained earnings amounting to P = 2,450,000,000
intended for store and warehouse expansion. These projects are expected to be completed in 2018.

On November 7, 2016, the BOD approved additional appropriation of retained earnings amounting to P
=900,000,000
intended for store and warehouse expansion. These projects are expected to be completed in 2019.

Cash Dividends
Details of the Group’s cash dividends declaration for the years ended December 31, 2016, 2015 and 2014 are shown
below:

Notes to Consolidated Financial Statements


Outstanding no. of
Dividend common shares as Total cash
Declaration date Record date Payment date per share of declaration date dividends
April 28, 2016 May 12, 2016 May 26, 2016 P
= 0.55 458,435,323 P
= 252,139,428
April 23, 2015 May 8, 2015 May 22, 2015 0.40 458,435,323 183,374,129
April 24, 2014 May 23, 2014 June 18, 2014 0.30 458,435,323 137,530,597

The Group’s BOD approved all the cash dividends presented above.

Treasury Shares
There are 686,250 shares that are in treasury amounting to P
= 2,923,246 as at December 31, 2016 and 2015. There is
no movement in the Group’s treasury shares in 2016 and 2015.

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36
A n n ua l R e p o r t 2 0 1 6

17. Cost of Merchandise Sales

2016 2015 2014


Merchandise inventory, beginning (Note 6) P
= 1,568,498,726 P
=1,165,094,076 P
=900,849,891
Net purchases (Note 31) 21,924,062,522 17,294,994,990 13,125,840,660
23,492,561,248 18,460,089,066 14,026,690,551
Less merchandise inventory, ending (Note 6) 2,131,441,288 1,568,498,726 1,165,094,076
P
= 21,361,119,960 P
=16,891,590,340 P
=12,861,596,475

18. General and Administrative Expenses

2016 2015 2014


Rent (Note 25) P
= 1,602,378,489 P
=1,121,193,327 P
=716,894,020
Outside services (Note 31) 1,476,127,840 1,050,937,424 787,035,907
Communication, light and water 1,423,412,889 1,260,607,213 1,111,566,076
Depreciation and amortization (Note 8) 1,365,396,573 1,092,223,359 862,759,509
Personnel costs (Note 22) 668,412,372 568,997,511 365,590,415
Trucking services 448,200,598 350,442,201 293,246,442
Advertising and promotion 443,313,381 345,030,366 281,258,513
Repairs and maintenance 323,172,738 225,459,706 145,069,812
Royalties (Note 31) 315,952,054 256,390,436 204,755,907
Warehousing services 306,100,604 254,130,414 199,368,536
Supplies 256,622,463 204,200,092 149,834,763
Taxes and licenses 230,133,415 176,774,287 103,144,450
Entertainment, amusement and recreation 72,453,849 60,768,450 38,931,132
Transportation and travel 67,916,734 65,660,872 61,541,457
Inventory losses 45,317,018 37,972,396 23,252,340
Dues and subscription 39,412,151 20,462,743 14,609,800
Insurance 28,841,990 16,139,822 12,136,880
Provision for impairment of receivables (Note 5) 7,502,914 5,742,310 –
Amortization of software and program cost (Note 10) 955,043 878,003 655,605
Others 262,234,884 349,577,933 144,722,272
P
= 9,383,857,999 P
=7,463,588,865 P
=5,516,373,836

19. Marketing Income

2016 2015 2014


Promotions P
= 755,782,086 P
= 566,683,080 P
=318,031,168
Marketing support funds 198,464,705 168,538,374 145,381,982
P
= 954,246,791 P
= 735,221,454 P
=463,413,150

20. Interest Expense

2016 2015 2014


Interest on bank loans and long-term debt (Note 11) P
= 44,093,284 P
=33,836,883 P
=16,060,038
Guaranteed preferred dividends (Note 15) 206,820 154,740 135,780
P
= 44,300,104 P
=33,991,623 P
=16,195,818

21. Interest Income

2016 2015 2014


Cash and cash equivalents (Note 4) P
= 4,991,215 P
=3,368,256 P
=2,450,337
Accretion of refundable deposits (Note 9) 5,793,484 3,509,396 3,048,457
Short-term investment (Note 4) 131,884 124,949 95,485
Finance lease (Note 25) – 5,773 96,445
Accretion of note receivable (Note 5) – – 37,165
Receivable from employees (Note 5) 34,315 16,882 13,660
P
= 10,950,898 P
=7,025,256 P
=5,741,549
22. Personnel Costs

2016 2015 2014


Salaries and wages P
= 402,430,307 P
= 302,201,732 P
=184,489,666
Employee benefits 238,876,611 243,766,549 161,233,379
Net retirement benefits cost (Note 23) 27,105,454 23,029,230 19,867,370
P
= 668,412,372 P
= 568,997,511 P
=365,590,415

23. Retirement Benefits

The Group maintains a trusteed, non-contributory defined benefit retirement plan covering all qualified employees
administered by a trustee bank under the supervision of the Board of Trustees (BOT) of the plan. The BOT is
responsible for investment of the assets. It defines the investment strategy as often as necessary, at least annually,
especially in the case of significant market developments or changes to the structure of the plan participants. When
defining the investment strategy, it takes account of the plans’ objectives, benefit obligations and risk capacity. The
investment strategy is defined in the form of a long-term target structure (investment policy). The BOT delegates the
implementation of the investment policy in accordance with the investment strategy as well as various principles and
objectives to an Investment Committee, which also consists of members of the BOT, a Director and a Controller. The
Controller of the fund is the one who oversees the entire investment process.

Changes in net retirement obligations in 2016 are as follows:


Remeasurements in other comprehensive income
Actuarial
changes Actuarial
Net retirement benefits cost in consolidated arising from changes arising
statement of comprehensive income Remeasure- changes in from changes in
January 1, Current Subtotal ment financial Experience demographic Contribution December 31,
2016 service cost Net interest (Note 22) Benefits paid on plan assets assumptions adjustments assumptions Subtotal by employer 2016
Present value of the
retirement
obligations
PSC (P
= 173,335,948) (P
= 21,252,063) (P
= 8,684,131) (P
= 29,936,194) P
= 1,305,346 P
=– P
= 11,600,431 (P
= 7,966,726) P
=– P
= 3,633,705 P
= – (P
= 198,333,091)
CDI (9,204,734) (793,418) (469,441) (1,262,859) 335,371 – 262,283 (527,497) – (265,214) – (10,397,436)
(182,540,682) (22,045,481) (9,153,572) (31,199,053) 1,640,717 – 11,862,714 (8,494,223) – 3,368,491 – (208,730,527)
Fair value of plan assets
PSC 79,526,317 – 3,984,268 3,984,268 (1,305,346) (1,850,319) – – – (1,850,319) 6,000,000 86,354,920
CDI 2,143,737 – 109,331 109,331 (335,371) (81,052) – – – (81,052) 3,500,000 5,336,645
81,670,054 – 4,093,599 4,093,599 (1,640,717) (1,931,371) – – – (1,931,371) 9,500,000 91,691,565
Net retirement
obligations (P
= 100,870,628) (P
= 22,045,481) (P
= 5,059,973) (P
= 27,105,454) P
=– (P
= 1,931,371) P
= 11,862,714 (P
= 8,494,223) P
=– P
= 1,437,120 P
= 9,500,000 (P
= 117,038,962)

Changes in net retirement obligations in 2015 are as follows:


Remeasurements in other comprehensive income
Actuarial Actuarial
changes changes arising
Net retirement benefits cost in consolidated arising from from
statement of comprehensive income Remeasure- changes in changes in
January 1, Current Subtotal ment financial Experience demographic Contribution December 31,
2015 service cost Net interest (Note 22) Benefits paid on plan assets assumptions Adjustments assumptions Subtotal by employer 2015
Present value of the
retirement
obligations
PSC (P
= 158,897,660) (P
= 17,719,335) (P
= 7,325,182) (P
= 25,044,517) P4,389,781
= P–
= = 10,686,665
P (P
= 2,570,780) (P
= 1,899,437) = 6,216,448
P P–
= (P
= 173,335,948)
CDI (9,548,565) (736,772) (385,200) (1,121,972) 1,517,995 – 328,835 (339,991) (41,036) (52,192) – (9,204,734)
(168,446,225) (18,456,107) (7,710,382) (26,166,489) 5,907,776 – 11,015,500 (2,910,771) (1,940,473) 6,164,256 – (182,540,682)

Notes to Consolidated Financial Statements


Fair value of plan assets
PSC 65,463,006 – 3,017,845 3,017,845 (2,379,383) (1,575,151) – – – (1,575,151) 15,000,000 79,526,317
CDI 2,579,145 – 119,414 119,414 (445,995) (108,827) – – – (108,827) – 2,143,737
68,042,151 – 3,137,259 3,137,259 (2,825,378) (1,683,978) – – – (1,683,978) 15,000,000 81,670,054
Net retirement
obligations (P
= 100,404,074) (P
= 18,456,107) (P
= 4,573,123) (P
= 23,029,230) = 3,082,398
P (P
= 1,683,978) = 11,015,500
P (P
= 2,910,771) (P
= 1,940,473) = 4,480,278
P = 15,000,000
P (P
= 100,870,628)

The fair value of plan assets by each class as at the end of each balance sheet date are as follows:

PSC CDI
December 31, December 31, December 31, December 31,
2016 2015 2016 2015

BPI short-term fund:


Unit investment trust fund P
= 10,710,037 P
=6,675,765 P
= 256,233 P
= 107,452
BPI ALFM mutual fund 55,153,114 10,060,085 5,080,412 2,036,285
Investments in equity securities: –
PSC - listed shares - 46,975 as at
December 31, 2016 and 2015 6,341,625 4,697,500 – –
SSHI - unlisted shares 6,000,000 6,000,000 – –
Government securities 8,111,752 52,092,967 – –
Accrued interest receivable 38,392 – – –
Fair value of plan assets P
= 86,354,920 P
=79,526,317 P
= 5,336,645 P
=2,143,737

37
38
A n n ua l R e p o r t 2 0 1 6

The trustee exercises voting rights over the PSC and SSHI shares held by the retirement fund.

The retirement benefits cost and the present value of the retirement obligations are determined using actuarial
valuations. The actuarial valuation involves making various assumptions. The principal assumptions used in
determining the net retirement obligations are shown below:

PSC CDI
2016 2015 2016 2015
Discount rates 5.41% 5.01% 5.41% 5.10%
Salary increase rates 5.50% 5.50% 5.50% 5.50%
Turnover rates:
Age 17–24 5.00% 5.00% 5.00% 5.00%
25–29 3.00% 3.00% 3.00% 3.00%
30–49 1.00% 1.00% 1.00% 1.00%
50–59 0.00% 0.00% 0.00% 0.00%

The sensitivity analysis below has been determined based on reasonably possible changes of each significant
assumption on the defined benefit obligation as at December 31, 2016, assuming if all other assumptions were held
constant:

Increase (Decrease) PSC CDI


Discount rates +0.5% (P
= 13,141,922) (P
= 369,100)
-0.5% 14,661,272 431,088

Salary increase rate +1% 29,869,851 874,486


-1% (24,440,013) (684,217)

Average remaining years of service +3 years –


-3 years 66,177
+5 years –
-5 years 2,240,655

The Group expects to contribute P


=28,481,752 and P
=1,370,090 to the defined benefit retirement plans of PSC and CDI,
respectively, in 2017.

The Group does not currently employ any asset-liability matching. The average expected future service in years of the
employees of PSC and CDI is 23 years.

Shown below is the maturity analysis and weighted average duration of the retirement benefits obligations:

Benefits Payments
PSC CDI
Not exceeding 1 year P
=7,314,508 P
=6,230,450
More than 1 year to 5 years 13,598,035 –
More than 5 to 10 years 66,079,463 1,903,633
More than 10 to 15 years 191,935,386 7,542,783
More than 15 years to 20 years 347,382,842 11,267,151
More than 20 years 4,263,684,924 180,677,215

24. Related Party Disclosures

Related party relationships exist when one party has the ability to control, directly or indirectly through one or more
intermediaries, the other party or exercise significant influence over the other party in making financial and operating
decisions. Such relationships also exist between and/or among entities which are under common control with the
reporting enterprise, or between and/or among the reporting enterprises and their key management personnel,
directors or its stockholders.
Transactions with related parties consist of:

a. PSC and CDI have transactions with PFI, a foundation with common key management of the Group, consisting of
donations and noninterest-bearing advances pertaining primarily to salaries, taxes and other operating expenses
initially paid by PSC for PFI. Donations payable to PFI is presented under “Others” in the “Other current liabilities”
account in the consolidated balance sheets (see Note 13).

Balances arising from the foregoing transactions with related parties are as follows:

Transactions for the Outstanding Balance


Year Ended December 31 as at December 31
Related Parties Relationship Nature of Transactions Terms and Conditions 2016 2015 2016 2015
Receivables
PFI (Note 5) Affiliate Noninterest- bearing advances Unsecured, no impairment in
2016 and 2015. Amounts
are due and demandable. P
= 637,215 = 563,032
P P
= 4,725,698 = 4,088,483
P

Other current liabilities


PFI Affiliate Donations Allocated annual fund equivalent
to 0.5% of earnings before
income tax and P= 720,000
annual donation from CDI.
Payable within 30 days.* P
= 980,000 = 8,712,935
P P
= 3,249,366 = 7,012,712
P
*PSC shall release the allocated fund quarterly which shall correspond to the specific programs of PFI and its budget approved by the BOT, and the total amount of
donation for each year shall not exceed P
= 20,000,000.

b. As at December 31, 2016 and 2015, the Group’s defined benefit retirement fund has investments in shares of
stock of PSC with a cost of P
= 122,417. The retirement benefit fund earned a gain arising from changes in market
prices amounting to P
= 1,644,125 and P=728,112 in 2016 and 2015, respectively.

c. Compensation of key management personnel are as follows:

2016 2015 2014


Short-term employee benefits P
= 53,540,940 P
=48,794,584 P
=44,638,652
Post-employment benefits 4,710,147 4,021,235 2,699,447
P
= 58,251,087 P
=52,815,819 P
=47,338,099

25. Leases

Finance Lease as Lessor


In March 2007, PSC entered into a five-year sale and leaseback finance lease agreement with an armored car service
provider. The lease has no terms of renewal and no escalation clauses. Unguaranteed residual values accruing to the
Group amounted to P =300,000.

In March 2010, the Group amended its agreement with the armored car service provider extending the lease term for
another five years from March 1, 2010 to February 1, 2015, imposing 7% interest per annum on the restructured loan

Notes to Consolidated Financial Statements


obligation and reducing its monthly rental payments. The unguaranteed residual values accruing to the Group was
retained. No renewal was made in 2015 and the ownership of the armored car was transferred to the lessee upon
end of the lease term.

Lease receivable amounted to P= 3,747,773 as at December 31, 2016 and 2015. There were no collections of lease
receivable in 2016 and 2015. In 2016, the Company recorded a provision for impairment for the lease receivable
amounting to P=3,747,773 (see Note 5).

Unearned interest income as at December 31, 2016 and 2015 amounted to nil. Related interest income amounted to
nil, P
=5,773 and P
= 96,445 in 2016, 2015 and 2014, respectively (see Note 21).

The difference between the original lease agreement’s present value of minimum lease payments at the date of lease
inception against the carrying value of the finance lease asset resulted in a deferred revenue on finance lease
amounting to P=6,550,753, which is to be amortized on a straight-line basis over the lease term. The related deferred
revenue amounted to nil as at December 31, 2016 and 2015, respectively. Amortization of deferred revenue on
finance lease amounted to nil, P
=98,264 and P
=589,567 in 2016, 2015 and 2014, respectively.

39
40
A n n ua l R e p o r t 2 0 1 6

Operating Lease as Lessee

a. PSC has various lease agreements with third parties relating to its store operations. Certain agreements provide
for the payment of rentals based on various schemes such as an agreed percentage of net sales for the month
and fixed monthly rate.

Rent expense related to these lease agreements amounted to P = 1,503,460,115, P= 1,032,146,531 and
P
=673,566,162 in 2016, 2015 and 2014, respectively (see Note 18). Of the total rent expense, P = 24,681,877,
P
=13,755,474 and P =5,654,193 in 2016, 2015 and 2014, respectively, pertains to contingent rent of some stores
based on percentage ranging from 1.5% to 3.0% of merchandise sales. Amortization of deferred lease amounted
to P
= 2,454,525, P
= 659,155 and P
= 545,297 in 2016, 2015 and 2014, respectively (see Note 10).

In 2016 and 2015, PSC entered into various long-term operating lease agreements for its warehouses and
warehouse extensions in Batangas, Cagayan de Oro, Bulacan, Pasig, Cebu, Iloilo, Pampanga and Davao. Rent
expense for warehouse leases amounted to P = 83,077,592, P=69,926,319 and P
=27,334,418 in 2016, 2015 and
2014, respectively (see Note 18). Amortization of deferred lease amounted to P =2,474,353, P
=4,300,379 and
P
=1,717,475 in 2016, 2015 and 2014, respectively (see Note 10).

The approximate annual future minimum rental payments of the PSC under its existing lease agreements as at
December 31 are as follows:

2016 2015
Within one year P
= 197,435,437 P
=117,061,815
After one year but not more than five years 613,872,092 490,265,267
More than five years 338,290,729 296,974,607
P
= 1,149,598,258 P
=904,301,689

b. In 2012, CDI entered into a 2-year lease contract for the lease of a warehouse in Cebu commencing in April 2012
until April 2014. The lease has a renewal option and is subject to an annual escalation rate of 5%. Upon
expiration in April 2014, CDI renewed the lease contract for another eight months from May to December 2014.
On January 1, 2015, CDI again renewed the lease contract for one year from January to December 2015. CDI did
not renew the lease in 2016.

In 2015, CDI entered into a 10-year operating lease contract with a third party for the lease of its store
commencing August 2015 until August 2025. The lease has a renewal option and is subject on an annual
escalation rate of 5% starting on its third year of lease.

Rent expense related to these lease agreements amounted to P= 2,155,752, P


= 15,377,237 and P
= 1,288,305 in 2016,
2015 and 2014, respectively (see Note 18). Amortization of deferred lease amounted to P =14,868, P=6,195 and
P
=14,864 in 2016, 2015 and 2014, respectively (see Note 10).

The approximate annual future minimum rental payments of CDI under its existing lease contract as at
December 31 are as follows:

2016 2015
Within one year P
= 2,122,105 P
=2,050,077
After one year but not more than five years 9,337,092 8,894,769
More than five years 10,042,912 22,272,334
P
= 21,502,109 P
=33,217,180

CDI also has other various short-term operating leases pertaining to rental of warehouse and equipment. Related
rent expense amounted to P =13,685,030, P=3,743,240 and P = 14,705,135 in 2016, 2015 and 2014, respectively
(see Note 18).

Operating Lease as Lessor


The Group has various sublease agreements with third parties which provide for lease rentals based on an agreed
fixed monthly rate or as agreed upon by the parties. Rental income related to these sublease agreements amounted
to P
=63,764,574, P
= 56,729,444 and P= 51,118,568 in 2016, 2015 and 2014, respectively.
26. Income Tax

a. The components of the Group’s provision for income tax are as follows:

2016 2015 2014


Current:
Regular corporate income tax P
= 553,697,688 P
=461,117,879 P
=403,038,636
Final tax on interest income 1,024,431 698,401 272,737
554,722,119 461,816,280 403,311,373
Deferred (19,640,158) (9,960,769) (21,387,531)
P
= 535,081,961 P
=451,855,511 P
=381,923,842

b. The components of the Group’s net deferred income tax assets are as follows:

2016
PSC CDI SSHI Total
Deferred income tax assets:
Net retirement obligations P
= 33,593,451 P
= 1,518,237 P
=– P
= 35,111,688
Accrued rent 30,650,404 308,899 – 30,959,303
Deferred revenue on customer loyalty programme 22,234,912 – – 22,234,912
Unamortized discount on refundable deposits 10,037,412 38,198 – 10,075,610
Allowance for impairment on receivables 9,581,493 – – 9,581,493
Unamortized past service cost 4,989,450 1,083,920 – 6,073,370
Accrued incentives 3,795,922 – – 3,795,922
Unearned rent income 3,628,111 – – 3,628,111
Provision for litigation losses 709,523 1,784,222 – 2,493,745
119,220,678 4,733,476 – 123,954,154
Deferred income tax liabilities:
Deferred lease expense 8,771,565 36,812 – 8,808,377
Unamortized premium on refundable deposits 152,723 – – 152,723
Unrealized foreign exchange gain 63,648 13,892 – 77,540
Revaluation increment on land – – 7,936,841 7,936,841
8,987,936 50,704 7,936,841 16,975,481
Net deferred income tax assets (liability) P
= 110,232,742 P
= 4,682,772 (P
= 7,936,841) P
= 106,978,673

2015
PSC CDI SSHI Total
Deferred income tax assets:
Net retirement obligations P28,142,889
= = 2,118,299
P P–
= P30,261,188
=
Accrued rent 22,684,932 – – 22,684,932
Deferred revenue on customer loyalty programme 13,088,409 – – 13,088,409
Unamortized discount on refundable deposits 8,264,857 41,921 – 8,306,778
Allowance for impairment on receivables 7,330,619 – – 7,330,619
Deferred revenue on exclusivity contracts 7,500,000 – – 7,500,000

Notes to Consolidated Financial Statements


Unamortized past service cost 5,946,865 419,532 – 6,366,397
Unearned rent income 334,903 – – 334,903
Provision for litigation losses 4,909,523 1,906,133 – 6,815,656
Unrealized foreign exchange loss – 4,748 – 4,748
98,202,997 4,490,633 – 102,693,630
Deferred income tax liabilities:
Deferred lease expense 6,743,350 41,272 – 6,784,622
Unamortized premium on refundable deposits 190,877 – – 190,877
Unrealized foreign exchange gain 11,639 – – 11,639
Revaluation increment on land – – 7,936,841 7,936,841
6,945,866 41,272 7,936,841 14,923,979
Net deferred income tax assets (liability) = 91,257,131
P = 4,449,361
P (P
= 7,936,841) = 87,769,651
P

41
42
A n n ua l R e p o r t 2 0 1 6

The net deferred tax assets and liability are presented in the consolidated balance sheets as follows:

2016 2015
Deferred tax assets P
= 114,915,514 P
=95,706,492
Deferred tax liability (7,936,841) (7,936,841)
P
= 106,978,673 P
=87,769,651

c. The reconciliation of the provision for income tax computed at the statutory income tax rate to provision for
income tax shown in the consolidated statements of comprehensive income follow:

2016 2015 2014


Provision for income tax computed at
statutory income tax rate P
= 513,165,706 P
=437,955,600 P
=376,580,609
Adjustments for:
Nondeductible expenses:
Inventory losses 15,515,301 11,391,719 4,608,692
Interest expense and others 6,951,607 2,895,906 1,263,705
Tax effect of rate difference between
final tax and statutory tax rate on
bank interest income (512,499) (349,560) (491,010)
Nontaxable other income (38,154) (38,154) (38,154)
P
= 535,081,961 P
=451,855,511 P
=381,923,842

d. Republic Act No. 9504, effective on July 7, 2008, allows availment of optional standard deductions (OSD).
Corporations, except for nonresident foreign corporations, may now elect to claim standard deduction in an
amount not exceeding 40% of their gross income. The Group did not avail of the OSD for the computation of its
taxable income in 2016, 2015 and 2014.

27. Basic/Diluted Earnings Per Share

2016 2015 2014


a. Net income P
= 1,175,470,391 P
=1,007,996,490 P
=873,344,855

b. Weighted average number of shares issued 459,121,573 459,121,573 459,121,573


c. Less weighted average number of shares
held in treasury 686,250 686,250 686,250
d. Weighted average number of shares
outstanding (b-c) 458,435,323 458,435,323 458,435,323

e. Basic/diluted earnings per share (a/d) P


= 2.56 P
=2.20 P
=1.91

The Group does not have potentially dilutive common shares as at December 31, 2016, 2015 and 2014. Thus, the
basic earnings per share is equal to the diluted earnings per share as at those dates.

28. Financial Instruments

The comparison of the carrying value and fair value of all of the Group’s financial instruments (those with carrying
amounts that are not equal to their fair values) as at December 31 are as follows:

2016 2015
Carrying Value Fair Value Carrying Value Fair Value
Financial Assets
Loans and Receivables
Deposits -
Refundable (Notes 7, 9 and 29) P
= 125,904,503 P
= 129,592,624 P
=89,314,702 P
=110,539,716
*Current portion amounting to P
= 3,358,356 and P
= 3,788,955 as at December 31, 2016 and 2015, respectively, are presented as part
of “Others” under “Prepayments and other current assets” account.

Refundable deposits are categorized under level 3 in the fair value hierarchy.
Fair Value Information

Cash and Cash Equivalents, Short-term Investment, Receivables,


Accounts Payable and Accrued Expenses, and Other Current Liabilities
Due to the short-term nature of the related transactions, the fair values of cash and cash equivalents, short-term
investment, receivables, accounts payable and accrued expenses, and other current liabilities approximate their
carrying values as at balance sheet dates.

Utilities and Other Deposits


The fair value of utilities and other deposits approximates its carrying value as it earns interest based on repriced
market conditions.

Refundable Deposits
The fair value of refundable deposits is determined by discounting the sum of future cash flows using the prevailing
market rates for instruments with similar maturities as at December 31, 2016 and 2015 ranging from 2.02% to 4.91%
and 2.58% to 4.74%, respectively.

Bank Loans
The carrying value of bank loans approximates fair value because of recent and monthly repricing of related interest
based on market conditions.

Long-term Debt
The carrying value of long-term debt approximates the fair value because of recent and monthly and quarterly
repricing of related interest based on market conditions.

Cumulative Redeemable Preferred Shares


The carrying value of cumulative redeemable preferred shares approximates fair value because corresponding
dividends on these shares that are charged as interest expense in profit or loss are based on recent treasury bill rates
repriced annually at year end.

As at December 31, 2016 and 2015, the Group has no financial instruments measured at fair value.

29. Financial Risk Management Objectives and Policies

The main risks arising from the Group’s financial instruments are credit risk, liquidity risk, interest rate risk and foreign
exchange risk. The BOD reviews and approves policies for managing each of these risks. The BOD also created a
separate board-level entity, which is the Audit Committee, with explicit authority and responsibility in managing and
monitoring risks. The Audit Committee, which ensures the integrity of internal control activities throughout the Group,
develops, oversees, checks and pre-approves financial management functions and systems in the areas of credit,
market, liquidity, operational, legal and other risks of the Group, and crisis management. The Internal Audit
Department and the External Auditor directly report to the Audit Committee regarding the direction, scope and
coordination of audit and any related activities.

Notes to Consolidated Financial Statements


Listed below are the summarized risks identified by the BOD.

Credit Risk
Credit risk is the risk that one party to a financial instrument will cause a financial loss to the other party by failing to
discharge an obligation. The receivable balances are monitored on an ongoing basis with the result that the Group’s
exposure to impairment is managed to a not significant level. The Group deals only with counterparty duly approved
by the BOD.

43
44
A n n ua l R e p o r t 2 0 1 6

The following tables provide information regarding the maximum credit risk exposure of the Group as at December 31:

2016 2015
Cash and cash equivalents:
Cash in banks P
= 1,137,432,406 P
=586,341,649
Cash equivalents 100,000,000 –
1,237,432,406 586,341,649
Short-term investment 11,083,577 10,983,401
Receivables:
Suppliers 568,482,978 387,627,637
Franchisees 528,911,471 329,115,208
Employees 21,364,281 29,849,687
Store operators 15,369,907 3,617,404
Rent 970,310 –
Due from PFI 4,725,698 4,088,483
Lease receivable – 3,747,773
Insurance receivable 3,749,206 1,192,091
Note receivable – 990,917
Others 8,242,118 7,030,373
1,151,815,969 767,259,573
Deposits:
Refundable* 125,904,503 89,314,702
Utilities 93,131,856 69,522,572
Others 10,344,774 7,479,457
229,381,133 166,316,731
Other noncurrent assets -
Noncurrent portion of receivable
from franchisees 32,751,738 36,836,593
P
= 2,662,464,823 P
=1,567,737,947
*Current portion amounting to P = 3,358,356 and P
= 3,788,955 as at December 31, 2016 and 2015, respectively,
are presented as part of “Others” under “Prepayments and other current assets” account.

The following tables provide information regarding the credit risk exposure of the Group by classifying assets
according to the Group’s credit ratings of debtors:

2016
Neither Past Due nor Impaired Past Due
High Grade Standard Grade or Impaired Total
Cash and cash equivalents
Cash in banks P
= 1,137,432,406 P
=– P
=– P
= 1,137,432,406
Cash equivalents 100,000,000 – – 100,000,000
1,237,432,406 – – 1,237,432,406
Short-term investment 11,083,577 – – 11,083,577
Receivables
Suppliers – 459,424,848 130,366,374 589,791,222
Franchisees – 508,456,603 22,647,772 531,104,375
Employees – 21,364,281 1,325,583 22,689,864
Store operators – 15,239,454 496,254 15,735,708
Rent – 970,310 2,007,087 2,977,397
Due from PFI – 4,725,698 – 4,725,698
Lease receivable – – 3,747,773 3,747,773
Insurance receivable – 3,749,206 – 3,749,206
Note receivable – – 990,917 990,917
Others – 8,242,118 – 8,242,118
– 1,022,172,518 161,581,760 1,183,754,278
Deposits
Refundable* – 125,904,503 – 125,904,503
Utilities – 93,131,856 – 93,131,856
Others – 10,344,774 – 10,344,774
– 229,381,133 – 229,381,133
Other noncurrent assets
Noncurrent portion of receivable from franchisees – 32,751,738 – 32,751,738
P
= 1,248,515,983 P
= 1,284,305,389 P
= 161,581,760 P
= 2,694,403,132
*Current portion amounting to =
P3,358,356 as at December 31, 2016 is presented as part of “Others” under “Prepayments and other current assets” account.
2015
Neither Past Due nor Impaired Past Due
High Grade Standard Grade or Impaired Total
Cash in banks P
=586,341,649 P
=– P
=– P
=586,341,649
Short-term investment 10,983,401 – – 10,983,401
Receivables
Suppliers – 289,836,808 119,099,073 408,935,881
Franchisees – 329,115,208 214,342 329,329,550
Employees – 29,849,687 539,921 30,389,608
Store operators – 3,617,404 365,801 3,983,205
Rent – – 2,007,087 2,007,087
Due from PFI – 4,088,483 – 4,088,483
Lease receivable – 3,747,773 – 3,747,773
Insurance receivable – 1,192,091 – 1,192,091
Note receivable – 990,917 – 990,917
Others – 7,030,373 – 7,030,373
– 669,468,744 122,226,224 791,694,968
Deposits
Refundable* – 89,314,702 – 89,314,702
Utilities – 69,522,572 – 69,522,572
Others – 7,479,457 – 7,479,457
– 166,316,731 – 166,316,731
Other noncurrent assets
Noncurrent portion of receivable from franchisees – 36,836,593 – 36,836,593
P
=597,325,050 P
=872,622,068 P
=122,226,224 P
=1,592,173,342
*Current portion amounting to =
P3,788,955 as at December 31, 2015 is presented as part of “Others” under “Prepayments and other current assets” account.

The Group uses the following criteria to rate credit quality:

Class Description
High Grade Financial assets that have a recognized foreign or local third
party rating or instruments which carry guaranty/collateral.

Standard Grade Financial assets of companies that have the apparent ability
to satisfy its obligations in full.

The credit qualities of the financial assets were determined as follows:

Cash in banks, cash equivalents and short-term investment are classified as high grade, since these are deposited or
transacted with reputable banks which have low probability of insolvency.

Receivables, deposits and other noncurrent assets are classified as standard grade, since these pertain to receivables
considered as unsecured from third parties with good paying habits. The following tables provide the analysis of
financial assets that are past due but not impaired and past due and impaired:

2016
Aging analysis of financial assets past due but not impaired Past due and
31 to 60 days 61 to 90 days > 90 days Total Impaired Total

Notes to Consolidated Financial Statements


Receivables:
Suppliers P
= 32,666,089 P
= 54,071,686 P
= 22,320,355 P
= 109,058,130 P
= 21,308,244 P
= 130,366,374
Franchisees 2,723,200 2,754,051 14,977,617 20,454,868 2,192,904 22,647,772
Lease receivable – – – – 3,747,773 3,747,773
Rent – – – – 2,007,087 2,007,087
Employees – – – – 1,325,583 1,325,583
Note receivable – – – – 990,917 990,917
Store operators – – 130,453 130,453 365,801 496,254
P
= 35,389,289 P
= 56,825,737 P
= 37,428,425 P
= 129,643,451 P
= 31,938,309 P
= 161,581,760

2015
Aging analysis of financial assets past due but not impaired Past due and
31 to 60 days 61 to 90 days > 90 days Total Impaired Total
Receivables:
Suppliers P
=29,220,847 P
=17,985,547 P
=50,584,435 P
=97,790,829 P
=21,308,244 P
=119,099,073
Franchisees – – – – 214,342 214,342
Rent – – – – 2,007,087 2,007,087
Employees – – – – 539,921 539,921
Store operators – – – – 365,801 365,801
P
=29,220,847 P
=17,985,547 P
=50,584,435 P
=97,790,829 P
=24,435,395 P
=122,226,224

Receivables from suppliers are noninterest-bearing and are generally on 30 to 90 day terms.

There are no significant concentrations of credit risk within the Group.

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A n n ua l R e p o r t 2 0 1 6

Liquidity Risk
Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial
instruments. The Group seeks to manage its liquidity profile to be able to finance its capital expenditures and service
its maturing debts. To cover for its financing requirements, the Group intends to use internally generated funds and
sales of certain assets.

As part of its liquidity risk management program, the Group regularly evaluates projected and actual cash flow
information and continuously assesses conditions in the financial markets for opportunities to pursue fund raising
initiatives. The Group uses historical figures and experiences and forecasts of collections and disbursements. These
initiatives may include drawing of loans from the approved credit line intended for working capital and capital
expenditures purposes and equity market issues.

The tables below summarize the maturity profile of the financial assets of the Group:

2016
More than More than
Three months three months one year More than
or less to one year to five years five years Total
Cash and cash equivalents
Cash on hand and in banks P
= 1,450,972,673 P
=– P
=– P
=– P
= 1,450,972,673
Cash equivalents 100,000,000 – – – 100,000,000
1,550,972,673 – – – 1,550,972,673
Short-term investment 11,083,577 – – – 11,083,577
Receivables
Franchisees 528,911,471 – – – 528,911,471
Suppliers 459,424,848 109,058,130 – – 568,482,978
Employees 21,364,281 – – – 21,364,281
Store operators 15,369,907 – – – 15,369,907
Due from PFI 4,725,698 – – – 4,725,698
Insurance receivable – 3,749,206 – – 3,749,206
Rent 970,310 – – – 970,310
Others 8,242,118 – – – 8,242,118
1,039,008,633 112,807,336 – – 1,151,815,969
Deposits
Refundable* – 3,358,356 122,546,147 – 125,904,503
Utilities – – 93,131,856 – 93,131,856
Others – – 10,344,774 – 10,344,774
– 3,358,356 226,022,777 – 229,381,133
Other noncurrent assets
Noncurrent portion of receivable from
franchisees – – 32,751,738 – 32,751,738
P
= 2,601,064,883 P
= 116,165,692 P
= 258,774,515 P
=– P
= 2,976,005,090
*Current portion amounting to =
P3,358,356 as at December 31, 2016 is presented as part of “Others” under “Prepayments and other current assets” account.

2015
More than More than
Three months three months one year More than
or less to one year to five years five years Total
Cash
Cash on hand and in banks P
=875,978,073 P
=– P
=– P
=– P
=875,978,073
Short-term investment 10,983,401 – – – 10,983,401
Receivables
Franchisees 329,115,208 – – – 329,115,208
Suppliers 289,836,808 97,790,829 – – 387,627,637
Employees 29,849,687 – – – 29,849,687
Store operators 3,617,404 – – – 3,617,404
Due from PFI 4,088,483 – – – 4,088,483
Insurance receivable – 1,192,091 – – 1,192,091
Lease receivable – 3,747,773 – – 3,747,773
Notes receivable 990,917 – – – 990,917
Others 7,030,373 – – – 7,030,373
664,528,880 102,730,693 – – 767,259,573
Deposits
Refundable* – 3,788,955 85,525,747 – 89,314,702
Utilities – – 69,522,572 – 69,522,572
Others – – 7,479,457 – 7,479,457
– 3,788,955 162,527,776 – 166,316,731
Other noncurrent assets
Noncurrent portion of receivable from
franchisees – – 36,836,593 – 36,836,593
P
=1,551,490,354 P
=106,519,648 P
=199,364,369 P
=– P
=1,857,374,371
*Current portion amounting to =
P3,788,955 as at December 31, 2015 is presented as part of “Others” under “Prepayments and other current assets” account.
The tables below summarize the maturity profile of the financial liabilities of the Group based on remaining
undiscounted contractual obligations:

2016
More than
Three months three months More than
or less to one year one year Total
Bank loans P
= 1,220,000,000 P
=– P
=– P
= 1,220,000,000
Accounts payable and accrued expenses
Trade payable 2,847,219,113 – – 2,847,219,113
Employee benefits 103,186,803 – – 103,186,803
Rent 102,168,014 – – 102,168,014
Utilities 96,504,939 – – 96,504,939
Outsourced services 68,768,914 – – 68,768,914
Repairs and maintenance 36,161,341 – – 36,161,341
Security services 27,903,068 – – 27,903,068
Bank charges 18,726,700 – – 18,726,700
Advertising and promotion 18,544,931 – – 18,544,931
Interest 5,434,795 – – 5,434,795
Others 142,217,967 – – 142,217,967
3,466,836,585 – – 3,466,836,585
Other current liabilities
Non-trade accounts payable 425,719,687 127,514,348 – 553,234,035
Due to franchisees 266,525,286 – – 266,525,286
Retention payable – 126,790,021 – 126,790,021
Royalty 30,449,395 – – 30,449,395
Service fees payable – 2,142,409 – 2,142,409
Others – 40,553,582 – 40,553,582
722,694,368 297,000,360 – 1,019,694,728
Long-term debt 71,166,667 125,000,000 458,333,333 654,500,000
Cumulative redeemable preferred shares 6,000,000 – – 6,000,000
P
= 5,486,697,620 P
= 422,000,360 P
= 458,333,333 P
= 6,367,031,313

2015
More than
Three months three months More than
or less to one year one year Total
Bank loans P
=1,150,000,000 P
=– P
=– P
=1,150,000,000
Accounts payable and accrued expenses
Trade payable 1,826,297,820 – – 1,826,297,820
Employee benefits 105,085,550 – – 105,085,550
Utilities 96,576,822 – – 96,576,822
Rent 75,616,440 – – 75,616,440
Outsourced services 64,035,623 – – 64,035,623
Repairs and maintenance 44,187,134 – – 44,187,134
Bank charges 25,180,700 – – 25,180,700
Security services 20,713,819 – – 20,713,819
Advertising and promotion 2,846,192 – – 2,846,192
Interest 2,011,954 – – 2,011,954
Others 103,569,342 – – 103,569,342
2,366,121,396 – – 2,366,121,396
Other current liabilities
Non-trade accounts payable 112,844,925 630,894,246 – 743,739,171

Notes to Consolidated Financial Statements


Due to franchisees 18,341,605 – – 18,341,605
Retention payable – 113,676,477 – 113,676,477
Royalty 24,323,677 – – 24,323,677
Service fees payable – 1,456,938 – 1,456,938
Others – 38,184,835 – 38,184,835
155,510,207 784,212,496 – 939,722,703
Long-term debt 4,500,000 13,500,000 63,000,000 81,000,000
Cumulative redeemable preferred shares 6,000,000 – – 6,000,000
P
=3,682,131,603 P
=797,712,496 P
=63,000,000 P
=4,542,844,099

Interest Rate Risk


Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. The Group’s fair value and cash flows interest rate risk mainly arise from bank loans
and long-term debt with floating interest rates. The Group is expecting to substantially reduce the level of bank loans
and long-term debt over time. Internally generated funds coming from its cash generating units and from its
franchising business will be used to pay off outstanding debts and consequently reduce the interest rate exposure.

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A n n ua l R e p o r t 2 0 1 6

The maturity profile of financial instruments that are exposed to interest rate risk are as follows:

2016 2015
Due in less than one year P
= 1,402,166,667 P
=1,174,000,000
Due in more than one year 458,333,333 63,000,000
Rate (Note 11) 2.45%-3.20% 1.90%-3.20%

Interest of financial instruments classified as floating rate is repriced at intervals of 30 days and 90 days. The other
financial instruments of the Group that are not included in the above tables are noninterest-bearing and are therefore
not subject to interest rate risk.

The following table demonstrates the sensitivity to a reasonably possible change in interest rates, with all other
variables held constant, of the Group’s income before income tax (through the impact on floating rate borrowings):

2016 2015
Increase/ Effect on Increase/ Effect on
Decrease in Income Before Decrease in Income Before
Basis Points Income Tax Basis Points Income Tax
Bank loans and long-term debt -
floating interest rate +100 (P
= 18,545,000) +100 (P
=12,310,000)
-100 18,545,000 -100 12,310,000
Cumulative redeemable preferred
shares - floating interest rate +100 (60,000) +100 (60,000)
-100 60,000 -100 60,000

There is no other impact on the Group’s equity other than those already affecting profit or loss.

Foreign Exchange Risk


Foreign exchange risk is the risk to earnings or capital arising from changes in foreign exchange rates. The Group’s
foreign exchange exposure arises from holding foreign currency-denominated cash. In order to balance this exposure,
the Group maintains a foreign currency accounts in a reputable commercial bank. The Group does not enter into
derivatives to hedge the exposure. The Group’s cash denominated in foreign currency and converted into Peso using
the closing exchange rates at each balance sheet date are summarized below.

2016 2015
U.S. Dollar Peso U.S. Dollar Peso
Cash in banks $70,405 P
= 3,500,537 $30,537 P
=1,437,071

As at December 31, 2016 and 2015, the closing functional currency exchange rate is P
= 49.72 and P
=47.06 to U.S. $1,
respectively.

The following table represents the impact on the Group’s income before income tax brought about by reasonably
possible changes in Peso to U.S. Dollar exchange rate (holding all other variables constant) as at December 31, 2016
and 2015 until its next financial reporting date:

Change in Peso to Dollar Effect on Income


Exchange Rate before Income Tax
2016 Increase by 5.65% P
= 197,780
Decrease by 5.65% (197,780)

2015 Increase by 5.23% 75,159


Decrease by 5.23% (75,159)

There is no other effect on the Group’s equity other than those already affecting profit or loss.

30. Capital Management

The primary objective of the Group’s capital management is to ensure that it maintains a strong credit rating and
healthy capital ratios in order to support its business and maximize shareholder value.
In the light of changes in economic conditions, the Group manages dividend payments to shareholders, pay-off
existing debts, return capital to shareholders or issue new shares. The Group mainly uses financing from local banks.
The Group considers equity attributable to shareholders as capital. The Group manages its capital structure by
keeping a net worth of between 30% to 50% in relation to its total assets. The Group’s net worth ratio is 41% and
43% as at December 31, 2016 and 2015, respectively. No changes were made in the objectives, policies and
processes during the year.

2016 2015
Common stock P
= 459,121,573 P
=459,121,573
Additional paid-in capital 293,525,037 293,525,037
Retained earnings 4,294,288,887 3,370,957,924
5,046,935,497 4,123,604,534
Less cost of shares held in treasury 2,923,246 2,923,246
P
= 5,044,012,251 P
=4,120,681,288

Total assets P
= 12,351,255,736 P
=9,515,935,215

Net worth 41% 43%

As at December 31, 2016 and 2015, the Group was able to meet its objective.

31. Significant Agreements

a. Franchise Agreements

The Group has various store franchise agreements with third parties for the operation of certain stores. The
agreement includes a one-time franchise fee payment and an annual 7-Eleven charge for the franchisee, which is
equal to a certain percentage of the franchised store’s gross profit. The agreement also includes charging of
various expenses such as rent and utilities which are recorded by the Group as part of its franchise revenue.
Details of franchise revenue follow:

2016 2015 2014


Share in gross profit of franchisees P
= 2,010,650,822 P
=1,801,990,190 P
=1,534,585,425
Rent, utilities and other expenses 683,669,533 528,220,809 173,106,784
Franchise fee 143,988,002 110,460,361 113,004,538
P
= 2,838,308,357 P
=2,440,671,360 P
=1,820,696,747

Receivable from franchisees as at December 31, 2016 and 2015 amounted to P =563,856,113 and P= 366,166,143,
respectively (see Notes 5 and 10). Due to franchisees as at December 31, 2016 and 2015 amounted to
P
=266,525,286 and P = 18,341,605, respectively (see Note 13). The Group also has outstanding deposits payable to
franchisees amounting to P=129,825,027 and P = 128,226,587 as at December 31, 2016 and 2015, respectively

Notes to Consolidated Financial Statements


(see Note 14).

b. Service Agreements

The Group has service agreements with third party contractors for the operation of certain stores. In
consideration thereof, the store operator is entitled to a service fee based on a certain percentage of the store’s
gross profit and operating expenses as stipulated in the service agreement. Service fees included in “Outside
services” under “General and administrative expenses” account amounted to P = 134,009,080, P
= 100,469,185 and
P
=103,989,092 in 2016, 2015 and 2014, respectively (see Note 18). The Group also has outstanding deposits
payable to third parties in relation to service agreements amounting to P = 92,588,090 and P= 94,282,022 as at
December 31, 2016 and 2015, respectively (see Note 14).

c. Commission Income

The Group has entered into agreements with a phone card supplier and various third parties. Under the
arrangements, the Group earns commission on the sale of phone cards, consigned goods and collection of bills
payments based on a certain percentage of net sales and collections for the month and a fixed monthly rate.
Commission income amounted to P = 73,511,203, P
= 46,919,684 and P = 39,214,967 in 2016, 2015 and 2014,
respectively.

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A n n ua l R e p o r t 2 0 1 6

d. 2014 and 2016 Exclusivity Contracts

In 2014, the Group has entered into a 3-year exclusivity contract with a third party ice cream distributor in the
Philippines effective January 2014 to December 2016. The contract indicates that the third party ice cream
distributor will exclusively supply all ice cream products of 7-Eleven stores. The Group received a one-time signing
bonus amounting to P = 75,000,000 upon the effectivity of the exclusivity supply contract amortized over three
years. Income from exclusivity contract included as part of “Net purchases” under “Cost of merchandise sales”
account in consolidated statements of comprehensive income amounted to P = 25,000,000 in 2016 and 2015
(see Note 17). Deferred revenue as at December 31, 2016 and 2015 amounted to nil and P = 25,000,000,
respectively (see Note 13).

In 2016, the exclusivity contract was renewed for another 5 years effective December 2016 to December 2021.
The Group received an initial payment for the agreement bonus which the Group is already entitled to upon
signing of the contract amounting to P =150,000,000. The income from the exclusivity contract amounting to
P
=150,000,000 was recorded in full as part of “Net purchases” under “Cost of merchandise sales” account in the
consolidated statements of comprehensive income in 2016 (see Note 17).

e. 2010 Signing Bonus

In 2010, the Group collected a signing bonus amounting to P= 2,232,143 from one of the Group’s food suppliers for
awarding half of the Group’s existing Hotdog Stock Keeping Units (SKUs) to the food supplier for the next five
years starting January 1, 2010. Income from exclusivity contract included as part of “Net purchases” under “Cost
of merchandise sales” account in consolidated statements of comprehensive income amounted to nil in 2016 and
2015 and P = 446,429 in 2014 (see Note 17).

f. Memorandum of Agreement (MOA) with Chevron Philippines, Inc. (CPI)

The Group has entered into MOA with CPI on August 6, 2009, wherein CPI has granted the Group as authorized
co-locator for a full term of three-years to establish operate and/or franchise its 7-Eleven stores in CPI service
stations. Both parties have identified 22 CPI service stations, wherein the Group will give the retailers of these
service stations a Letter Offer to Franchise (LOF) 7-Eleven stores. Upon acceptance of the retailers of the LOF, the
retailers will sign a Store Franchise Agreement (SFA) with the Group. If LOF is not accepted by one of the
22 original service stations identified, that service station will be replaced with another mutually acceptable
service station site.

Upon signing of the MOA, CPI executed a Caltex Retail Agreement with each of the 22 service station retailers,
which shall have a full term of three years and which will be co-terminus with the SFA.

As at December 31, 2016 and 2015, the Group has opened 57 and 50 franchised service stations, respectively.

g. Licensing Agreement with Seven Eleven, Inc. (SEI)

The Group executed a licensing agreement with SEI, a stockholder organized in Texas, U.S.A. This grants the
Group the exclusive right to use the 7-Eleven System in the Philippines. In accordance with the agreement, the
Group pays, among others, royalty fee to SEI based on a certain percentage of monthly gross sales, net of gross
receipts tax. Royalty fee amounted to P= 315,952,054, P
= 256,390,436 and P=204,755,907 in 2016, 2015 and 2014,
respectively (see Note 18). As at December 31, 2016 and 2015, royalty payable amounted to P = 30,449,395 and
P
=24,323,677, respectively (see Note 13).

32. Segment Reporting

The Group considers the store operations as its only business segment based on its primary business activity.
Franchising, renting of properties and commissioning on bills payment services are considered an integral part of the
store operations. The Group’s identified operating segments below are consistent with the segments reported to the
BOD, which is the Chief Operating Decision Maker of the Group.
The products and services from which the store operations derive its revenues from are as follows:

 Merchandise sales
 Franchise revenue
 Marketing income
 Rental income
 Commission income
 Interest income

The aforementioned revenues are all revenues from external customers.

The segment’s relevant financial information is as follows:

2016 2015 2014


Revenue
Revenue from merchandise sales P
= 28,357,309,168 P
=22,400,931,697 P
=17,107,375,250
Franchise revenue 2,838,308,357 2,440,671,360 1,820,696,747
Marketing income 954,246,791 735,221,454 463,413,150
Commission income 73,511,203 46,919,684 39,214,967
Rental income 63,764,574 56,729,444 51,118,568
Interest income 10,950,898 7,025,256 5,741,549
Other income 233,144,681 186,834,492 180,124,459
32,531,235,672 25,874,333,387 19,667,684,690
Expenses
Cost of merchandise sales 21,361,119,960 16,891,590,340 12,861,596,475
General and administrative expenses:
Depreciation and amortization 1,365,396,573 1,092,223,359 862,759,509
Others 8,018,461,426 6,371,365,506 4,653,614,327
Interest expense 44,300,104 33,991,623 16,195,818
Other expenses 31,405,257 25,310,558 18,249,864
30,820,683,320 24,414,481,386 18,412,415,993
Income before income tax 1,710,552,352 1,459,852,001 1,255,268,697
Provision for income tax 535,081,961 451,855,511 381,923,842
Segment Profit P
= 1,175,470,391 P
=1,007,996,490 P
=873,344,855

Segment Assets P
= 12,351,255,736 P
=9,515,935,215 P
=7,890,241,867

Segment Liabilities P
= 7,309,623,708 P
=5,398,640,134 P
=4,600,705,342

Capital Expenditure for the Year P


= 2,323,397,721 P
=2,287,816,904 P
=1,653,573,106

33. Provisions and Contingencies

Notes to Consolidated Financial Statements


The Group is a party to various litigations and claims. All cases are in the normal course of business and are not
deemed to be considered as material legal proceedings. Further, the cases are either pending in courts or under
protest, the outcome of which are not presently determinable. Management and its legal counsel believe that the
liability, if any, that may result from the outcome of these litigations and claims will not materially affect the Group’s
financial position or financial performance.

As at December 31, 2016 and 2015, the Group has provisions amounting to P = 8,312,483 and P
= 22,718,853,
respectively, and is reported as part of “Others” under “Accounts payable and accrued expenses” account in the
consolidated balance sheets (see Note 12). Movements in provisions are as follows:

2016 2015
Beginning balance P
= 22,718,853 P
=8,718,853
Additions 241,829 14,000,000
Amounts used (14,648,199) –
Ending balance P
= 8,312,483 P
=22,718,853

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APPENDIX “A”
A n n ua l R e p o r t 2 0 1 6

List of Leased Properties for the 7-Eleven


Stores operational as Corporate and under a
Franchise Agreement

1 002 BF Homes Pres. Ave., BF Homes Parañaque

2 003 Libertad ^^ Libertad cor., F.B. Harrison, Pasay

3 004 Nagtahan ^^ Philamlife Bldg. United Nations Avenue, Ermita, Manila

4 005 U.N. Ave ^^ 900 U.N. Ave., Ermita, Manila

5 007 Quiapo ^^ 465 Quezon Blvd., Quiapo, Manila

6 008 Adriatico ^^ Adriatico cor., P. Faura, Manila

7 010 Muñoz Roosevelt Ave, nr. Cor. EDSA-Muñoz, Q.C.

8 011 Airport ^^ Quirino Ave., cor. Airport Road Parañaque

9 012 Roces A. Roces St. cor. Quezon Ave., Q.C.

10 017 Buendia ** Sen. Gil Puyat Ave. cor. Taft Ave., Manila

11 020 Boni-EDSA Boni Avenue cor., EDSA Mandaluyong City

12 022 Retiro Retiro cor. Dimasalang, Manila

13 024 Paco1 ^^ Pedro Gil St., Paco, Manila

14 030 Burgos ^^ Libertad St., cor. Burgos St., Pasay City

15 031 Barangka Boni Ave., Barangka Drive, Mandaluyong

16 032 Maypajo ^^ J.P. Rizal St., cor. Ambini St., Maypajo, Caloocan City

17 033 Dapitan ^^ Maceda cor. Dapitan St., Sampaloc, Manila

18 035 Pasig Church ** Caruncho Ave., cor. Sixto Ave., Pasig

19 036 JRC ^^ Shaw Blvd. cor Kalentong St., Mandaluyong City

20 037 Nova1 ^^ Gen. Luis St, cor. Austria St., Novaliches, Q.C.

21 038 Pilar ^^ Alabang Zapote Rd., Pilar Rd., Alamansa

22 039 MCU ** Edsa cor. Asuncion St., Monumento, Caloocan City

23 040 Almeda ^^ Concepcion cor. Almeda, San Joaquin, Pasig City

24 041 Marulas ^^ Mc Arthur Hi-way cor. Pio del Pilar, Valenzuela, Manila

25 043 Malibay ^^ EDSA cor. C. Jose St., Malibay, Pasay City

26 044 Bacoor ^^ G.E. Aguinaldo Hi-way cor. Talaba, Bacoor

27 045 Gagalangin ^^ Juan Luna cor., Pampanga St., Gagalangin Tondo, Manila

28 046 Pandacan Jesus cor., Labores St., Pandacan, Manila

29 047 Singalong ^^ Singalong St., cor., san Andres, Malate Manila

30 054 Munti1 Rizal St. cor. National Road, Poblacion, Muntinlupa

31 056 Evangelista ^^ Pio del Pilar cor. Evangelista, Makati

32 057 Commonwealth Tandang Sora Ave., cor. Commonwealth Ave., Q.C.

33 059 Revilla EDSA cor. C. Revilla St., Pasay City

34 060 Cainta Junction ^^ A. Bonifacio St., cor. Ortigas Ave., Ext., Cainta, Rizal
35 063 Guadalupe 1 ^^ EDSA nr. cor. R. Magsaysay, Guadalupe, Makati

36 064 Masinag ^^ Marcos Highway cor. Sumulong Highway, Antipolo, Rizal

37 065 Road 8 ^^ Road 8 cor. Visayas Ave., Proj. 6, Q.C.

38 066 MH del Pilar A. Flores St., M.H. del Pilar, Ermita, Manila

39 067 StJames Tandang Sora Ave., cor. Mindanao Avenue, Q.C.

40 068 Murphy 15th Ave. cor. Liberty Ave., Murphy, Cubao, Q.C.

41 069 PCU ^^ Pedro Gil St. cor. L. Guinto St., Malate, Manila

42 071 A. Bonifacio ^^ A. Bonifacio St., cor. Shaw Blvd., Mandaluyong City

43 072 Calamba 1 ^^ National Highway cor. J.P. Rizal

44 074 Canaynay Dr. A. Santos Ave., cor. Canaynay Ave., Parañaque

45 075 Antipolo Church ** P. Oliveros St. cor Masangkay Rd., Antipolo, Rizal

46 076 Pasig Rotonda ** Pasig Blvd. cor. Sixto Antonio, Pasig City

47 078 Bruger ^^ National Rd., Bruger St., Bruger Subd., Muntinlupa City

48 080 Marcelo ^^ West Service Road cor. Marcelo Ave., Parañaque

49 085 Harrison ^^ F.B. Harisson St. cor. Vito Cruz, Manila

50 086 Tayuman ^^ Tayuman St. cor. Rizal Ave., Manila

51 087 Imus ** Aguinaldo Highway cor. Tanzang Luma, Imus Cavite

52 088 Antip1Cir Circumferential Rd. cor. M.L. Quezon St., Antipolo, Rizal

53 090 Bangkal Evangelista Cor. Alejandro St., Bangkal Mkt.

54 091 San Pedro1 ^^ Maharlika St. cor. National Highway, San Pedro, Laguna

55 093 Meycauayan2 ^^ Mc Arthur Hi-way cor. Malhakan Rd., Meycauayan, Bulacan

56 096 San Pedro2 A. Mabini St. cor. Garcia St. San Pedro, Laguna

57 097 Cavite City ^^ Cajigas St. cor. Burgos St., Cavite City

58 098 Ylaya Ylaya St. cor. Lakandula St., Binondo, Manila

59 099 Dasma1 P. Campos cor. Cantimbuhan St., Dasmariñas, Cavite

60 100 Balibago National Highway cor. R. Lasaga St., Balibago

61 101 Blumentrit2 ^^ Blumentritt St. cor. Isagani St. Sampaloc, Manila

62 102 Hermosa ^^ J. Abad Santos Ave., cor. Hermosa St., Tondo, Manila

63 103 Kabihasnan ^^ Kabihasnan St. cor. San Dionisio Parañaque

64 104 Galas ^^ Unang Hakbang St., cor. Luzon Ave., Galas, Q.C.
ANNEx - Store Directory

65 105 Lower Bicutan Gen. Santos Avenue cor. M.L. Quezon St., Lower Bicutan

66 106 Tamaraw Hills Mc Arthur Hi-way cor. Tamarraw Hills, Marulas, Valenzuela

67 107 Cabuyao ^^ J.P. Rizal cor. Circumferencial Ave., Cabuyao, Laguna

68 108 Chico ^^ Chico St. cor. Anonas St., Proj. 2, Q.C.

69 111 Molino1 ^^ Molino Rd., cor. Bahayang Pag-asa, Bacoor, Cavite

70 112 San Pablo1 ^^ Rizal Ave., cor. A. Flores St., San Pablo City

71 114 Dasma2 Mangubat St., cor. Aguinaldo Highway, Dasmariñas, Cavite

72 115 Molino2 Molino Rd., San Nicolas, Mambog, Bacoor, Cavite

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73 116 Salinas ^^ 193 Gen. Trias Drive, Rosario, Cavite

74 118 GMA ** Gov. Drive nr. cor. GMA Drive, Dasmariñas, Cavite

75 119 Biñan2 ^^ National Highway cor. Malvar St., Biñan, Laguna

76 120 Balagtas Mc Arthur Hi-way, Wawa, Balagtas, Bulacan

77 121 Pulang Lupa Quirino Ave., cor. Naga Rd., Pulang Lupa, Las Piñas

78 122 BF Resort ^^ Alabang Zapote rd. cor. BF Resort Drive, Pamplona

79 123 Parang ** G. del Pilar cor., M.L. Quezon, Parang, Marikina

80 125 JP Ramoy Quirino Highway cor. J.P. Ramoy, Barrio Talipapa, Novaliches, Q.C.

81 126 Cainta Church ^^ A. Bonifacio Avenue, San Andres, Cainta, Rizal

82 127 Tatlong Hari Rizal Blvd. nr. cor. Tatlong Hari St., Sta. Rosa, Laguna

83 138 Lipa Proper ^^ C.M. Recto Ave., Lipa, Batangas

84 128 Los Baños ^^ Batong Malaki National Highway, Los Baños, Laguna

85 130 Binakayan ^^ Gen. Tirona Highway cor. Bisita St., Binakayan, Kawit, Cavite

86 131 Lipa Highway ^^ G/F Big Ben Complex, Pres. Laurel Hi-way, Lipa, Batangas

87 132 Trece ^^ Gov. Drive cor. Indang, Tanza Rd., Trece Martirez, Cavite

88 134 Mo ave Marikina ^^ Bayan bayanan Ave. cor. Molave St., Concepcion, Marikina

89 135 Panapaan ^^ Tirona Hi-way cor. Aguinaldo Hi-way, Panapaan, Cavite

90 136 Apalit ^^ San Vicente cor. David St., Mc Arthur Hi-way, Apalit, Pampanga

91 137 San Pedro 3 Pacita cor. Macaria Ave., San Pedro, Laguna

92 141 Camarin ^^ Blk 1 Lot 18 & 20 Camarin cor. Susano Rd., Caloocan City

93 142 Tanza ^^ Sta. Cruz cor. San Agustine Poblacion , Tanza, Cavite

94 144 Rev. Aglipay ** Boni Ave., cor. A.T. Reyes Aglipay, Mandaluyong City

95 145 Naic ^^ Poblete St., cor. Nazareno St., Poblacion, Naic, Cavite

96 147 Shorthorn ^^ Shorthorn cor. Road 20, Project 8, Q.C.

97 148 JP Rizal ^^ J.P. Rizal cor. Constancia St., Makati City

98 150 Zabarte ^^ Quirino Hiway cor. Zabarte Ave., Novaliches

99 152 Dasma3 ^^ Congressional Ave., cor. DBB, Dasmariñas, Cavite

100 153 Paco 2 Pedro Gil St. cor. Main St., Paco, Manila

101 154 Insular ** P. Burgos St. cor. Gen. Luna St., Makati

102 155 Onyx ** A. Francisco cor. Onyx and Concha Sts., Sta. Ana, Manila

103 156 Guadalupe 2 ^^ Sgt. Yabut nr. cor. Anastasio St., Guadalupe, Makati

104 158 N. Domingo N. Domingo cor. F. Blumentritt St., San Juan

105 160 San Bartolome ^^ M. Dela Cruz cor. Quirino Highway, Novaliches, Q.C.

106 162 San Fernando1 B. Mendoza cor. Tiomico St., San Fernando, Pampanga

107 165 Superlines ** EDSA nr. cor. New York St., Cubao, Q.C.

108 166 Columbia Columbia Tower, Ortigas Ave., Mandaluyong City

109 167 Jupiter ^^ Makati Ave., cor. Gil Puyat Ave., Makati

110 168 TM Kalaw Kalaw cor. A. Mabini St., Ermita, Manila


111 172 West West Ave., cor. Zamboanga St., Q.C.

112 175 Benin ^^ EDSA cor. Benin St., Caloocan City

113 176 Farmers Space 1&2, 2nd Level New Farmers Plaza, Cubao, Q.C.

114 180 Batangas City ^^ P. Burgos Ave. cor. P. Panganiban St., Batangas

115 184 D.Jose Rizal Ave. cor. D. Jose, Sta. Cruz, Manila

116 185 Global ^^ Doña Soledad Ave., Better Living, Parañaque

117 187 Virra ** P. Burgos Ave. cor. Dapo St., Makati City

118 188 Panay ** Quezon Avenue cor. EDSA, Q.C.

119 196 Urdaneta ^^ Brgy. Poblacion, Urdaneta, Pangasinan

120 198 Matalino Matalino St. cor. Malakas St., Diliman, Q.C.

121 194 Angono ^^ M.L. Quezon Ave., Angono, Rizal

122 195 RFM RFM Corporate Center, Mandaluyong City

123 192 Turbina National Highway Brgy., Turbina, Calamba, Laguna

124 200 Carmen Mc Arthur Highway, Carmen, Rosales, Pangasinan

125 199 Rizal Med ^^ Pasig Blvd. cor. Banaag, Pineda, Pasig City

126 193 Bauan ^^ National Rd., Bauan, Batangas

127 204 Priscilla ^^ Pasong Tamo Ext.Kayamanan - C, Makati City

128 205 U.E. Recto UE, Claro M. Recto Ave., Manila

129 209 Dagupn1 ^^ Arellano St., Dagupan City

130 206 Zapote Junction Alabang Zapote Road cor. F. Santos, Las Piñas

131 212 Lemery ^^ Ilustre Ave., nr. cor., P. Burgos St., Lemery, Batangas

132 210 Session2 ^^ G/F B - 105 Lpez Bldg., Session Rd., Baguio City

133 211 Orosa MY Orosa nr. cor. TM. Kalaw, Ermita, Manila

134 208 Angeles1 Sto. Rosario cor. Sukdulan St., Angeles City

135 215 Crame Boni Serrano cor. 2nd St., Camp Crame, Q.C.

136 213 Parkview ** Valero St. cor. Salcedo Village, Makati City

137 217 Nova 3 Quirino Hi-way cor. Sarmiento St., Novaliches City, Q.C.

138 219 P. Campa ^^ España cor. P. Campa Sampaloc St., Manila

139 216 Baclaran2 Quirino Ave., cor. Dimasalang St., Baclaran, Parañaque City

140 218 Taytay2 ^^ Manila-East Road, Taytay, Rizal


ANNEx - Store Directory

141 228 Bocaue Mc Arthur Highway cor. Gov. F, Halili Ave., Binang 2nd, Bocaue, Bulacan

142 221 Baclaran 3 Roxas Blvd., Baclaran, Parañaque

143 222 Calamba 2 ^^ National Hi-way nr. cor. Halang St., Calamba, Laguna

144 224 Luisita ^^ Mc Arthur Hi-way, San Miguel, Tarlac City

145 227 EPZA ^^ Gen. Trias Drive, Brgy. Tejero, Rosario, Cavite

146 229 Cityland ^^ LG07 Cityland 10 Tower, Valero cor. Dela Costa St., Salcedo Village, Makati City

147 232 CBC ^^ 115 G/F Corporate Business Center, Paseo de Roxas cor. Pasay Road, Makati City

148 257 Shoe Ave ^^ Shoe Avenue cor. Capt. Venciong, Sta. Elena

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149 255 Pateros ^^ Herrera St. cor. Morcilla, Pateros

150 241 St. Lukes E. Rodriguez cor. Victoria St., New Manila, Q.C.

151 242 Mabini ^^ Mabini cor. 10th Avenue, Caloocan City

152 245 QA Araneta Quezon Avenue cor. Araneta Ave., Q.C.

153 258 Herrera Y-L Bldg., Herrera St. cor. Salcedo St., Legaspi Village, Makati City

154 244 Guadalupe 3 F. Yabut St., nr. cor. EDSA, Guadalupe Nuevo, Makati City

155 271 Starmall ^^ Shaw Blvd. cor. EDSA Mandaluyong

156 243 Merville ^^ Moreland Bldg., Merville Access Rd. cor. West Service Rd.

157 249 Binangonan Quezon St., Libis, Binangonan, Rizal

158 251 Nobel G/F, 110 Nobel Plaza, Valero St., Makati City

159 254 Salauag Molino-Paliparan Road, Salawag, Dasmariñas, Cavite

160 264 Trece2 Gov. Drive cor. Indang, Tanza Road

161 272 BetterLiving 2 Doña Soledad Avenue cor. Peru, Better Living, Parañaque City

162 261 Calamba3 ^^ Along Provincial Road, Calamba-Crossing, Laguna

163 268 Arayat2 ^^ Arayat cor. Pinatubo St. nr. cor. Edsa, Cubao Q.C.

164 274 Fields G/F HHH Commercial Bldg., 932 Fields Ave., Balibago, Angeles City

165 252 Talon J. Aguilar Ave. cor. Alabang-Zapote Road, Talon, Las Piñas City

166 259 Del Monte ^^ Del Monte Avenue cor. Tolentino St. (near Roosevelt), Q.C.

167 262 PCU 2 Taft Avenue cor. Pedro Gil, Manila

168 270 Biñan3 A. Bonifacio cor. Gonzales St., Poblacion, Biñan, Laguna

169 256 Marikina Bridge ^^ E. Rodrguez cor. J.P. Rizal St., Marikina

170 234 LaHuerta Quirino Avenue cor. Dandan St., La Huerta, Parañaque

171 276 Hansel Aurora Blvd. cor. Imperial, Cubao, Q.C.

172 250 Aurora ^^ Aurora Blvd. cor. St. Mary, Cubao, Q.C.

173 220 Laguna BelAir ** Sta. Rosa - Tagaytay Rd., Sta. Rosa, Laguna

174 248 Pasig Mega ^^ Mega Parking, Caruncho cor. Market Avenue

175 275 FEU 913-919 Nicanor Reyes cor. Estiro de Alix, Sampaloc, Manila

176 231 Makati CityHall ^^ 9033 Hormiga St., Brgy. Poblacion, Makati City

177 277 Session3 ^^ Upper Session Rd., Baguio City

178 282 Gatchalian Dr. A. Santos Ave. cor. Palanyag St., Parañaque City

179 278 Sagittarius ** G/F Sagittarius Bldg., H.V. Dela Costa St., Salcedo Village, Makati

180 237 Orient Ruby Road, Ortigas Ctr., Pasig City

181 236 UP Manila Pedro Gil St. nr. cor. Taft Avenue, Malate, Manila

182 214 San Pablo2 ** Leonor St. cor. Maharlika Hi-way, San Pablo, Laguna

183 279 Marina ** A. Mabini St., Malate, Manila

184 284 Burgundy G/F One Burgundy Plaza, Katipunan Ave., Q.C.

185 281 T. Morato Scout Castor cor. T. Morato

186 288 San Fernando2 ** Lam Bldg., San Fernando Crossing, San Fernando, Pampanga
187 289 Karuhatan Gen. T. de Leon cor. Mc Arthur Hi-way, Kahuratan, Valenzuela

188 283 RCBC ** RCBC Bldg. 3rd Flr. RCBC Poduim, Ayala Avenue cor. Buendia, Makati City

189 292 U Batangas Hilltop, Brgy. Kumintang Ibaba, City of Batangas

190 239 Park N Ride ^^ P. Burgos cor. Dr. Basa St., Ermita, Manila

191 293 Plaridel ^^ Cagayan Valley Road, Banga 1st, Plaridel, Bulacan

192 285 Emerald ** Emerald Ave., Ortigas Ctr., Pasig City

193 294 Biñan 4 ** In front of Perpetual Help Hospital & College, Biñan, Laguna

194 295 King’s Plaza King’s Plaza, Juan Luna cor. Padre Rada St., Tondo, Manila

195 297 DFA G/F AIMS Bldg., Roxas Blvd. Service Rd. cor. Arnaiz St., Pasay City

196 299 Indang ^^ San Gregorio nr. cor. Mabini St., Indang, Cavite

197 301 Annapolis ^^ G/F Continental Plaza, #45 Annapolis, Greenhills, San Juan, MM

198 296 Manansala Manansala Bldg., Estrella St., Rockwell Center, Makati City

199 300 Convergy’s G/F Convergys, One Ayala Ave., cor. Salcedo St., Makati City

200 304 Starwood Kisad Road nr. cor. Marcos Hi-way, Baguio City

201 311 PDCP ^^ G/F PDCP Bank Center, VA Rufino cor. San Agustin, Salcedo Vill., Makati

202 310 Malayan ** Unit G-1, Malayan Plaza, ADB Avenue, Ortigas Center, Pasig City

203 317 Tanauan JP Laurel Highway cor. Mabini St., Tanauan City, Batangas

204 312 US Embassy Roxas Blvd. cor. U.N. Avenue, Ermita, Manila

205 303 Asian Mansion G/F Asian Mansion 2 Dela Rosa St., Legaspi Village, Makati City

206 307 Madrigal ** G/F Madrigal Building Ayala Avenue, Makati City

207 318 Pearl Drive ^^ Pearl Drive corner Lourdes St., Pasig City

208 309 AIC Galleria G/F AIC-Burgundy Empire Tower, ADB Ave., cor. Garnet Rd., Ortigas

209 308 LP Cityhall Alabang-Zapote Rd., F. Ocampo Ave., Pamplona 3, Las Piñas City

210 316 Xavier Hills Xavier Hills Condo. Tower 1, Granada St. cor. N. Domingo, QC

211 321 Buendia 2 ** Gil Puyat Ave. cor. FB Harrison St., Pasay City

212 302 Ayala FGU ^^ Ayala Ave., Salcedo Village, Makati City

213 324 Lucena ** Gomez St. cor Quezon Ave. Lucena City

214 325 Sta.Cruz ** P. Guevarra Ave. Brgy 3 Poblacion Sta. Cruz Laguna

215 323 Channel 7 ** 131 Timog Ave. cor. Samar St., Diliman, QC

216 322 St. Scholastica ^^ 896 Vito Cruz cor. Dominga St., Malate, Manila
ANNEx - Store Directory

217 329 Dangwa 1300 Laonlaan St. cor. Don Quijote St. Sampaloc Manila

218 313 Northgate ** F@st bytes @North Gate cyberzone Alabang Muntinlupa

219 326 Gapan GM Bakery Bldg Bucana Gapan Crossing Gapan City

220 330 Imperial ^^ Tomas Morato Ave. cor Timog Ave Diliman QC

221 328 Cabanatuan 2 ^^ 199 Gen. Tinio cor. Mabini St., Quezon District, Cabanatuan, Nueva Ecija

222 333 Balibago Complex Balibago Complex Balibago Sta. Rosa Laguna

223 332 Legarda2 ^^ Legarda cor. Jhocson St. Sampaloc Manila

224 340 Manuela #02-Alabang-Zapote Rd. cor. Real St. Las Piñas City

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225 336 Padre Faura P. Faura cor MH del Pilar

226 315 Banaue ^^ 426 Banaue Ave. cor Tirad Pass St. SMH QC

227 331 Letran Muralla St. cor. Anda St. Intramuros Manila

228 345 Baliwag2 ** Poblacion Plaza Naning Baliuag Bulacan

229 334 OWWA2 749 Victoria St. cor. Solana St. Intramuros Manila

230 342 R. Magsaysay 173 Edsa Cor. Ermin Garcia St., Cubao, Quezon City

231 346 Pedro Gil 1578 A. MABINI CORNER PEDRO GIL ST. ERMITA MANILA

232 338 Pagsanjan ^^ Calle Rizal Pob. Pagsanjan Laguna

233 341 Olivarez ^^ 8156 Dr. A. Santos Ave., Brgy. San Dionisio, Sucat, Parañaque City

234 339 Nasugbu ** JP Laurel St cor G. Alverez St. Nasugbu Batangas

235 335 Mamatid Banlic,Cabuyao Laguna

236 343 Fields 2 Mc Arthur Highway, Balibago, Angeles City, Pampanga

237 350 Pacific Center ** San Miguel Ave., Ortigas Center, Pasig

238 344 Molino 3 ^^ Zapote- Molino Rd. Brgy. Molino3 Bacoor Cavite

239 349 Teachers Bliss ^^ #1 Teachers Bliss,Balong bato Balintawak QC

240 347 Bulihan ^^ B 275 L13 AFP Housing, Old Bulihan Rd., Bulihan, Silang Cavite

241 352 Baclaran 4 Roxas Blvd. cor. Rivera St., Baclaran, Parañaque

242 355 Vito Cruz ^^ Unit 102&103 Cityland Tower One, Vito Cruz, Manila

243 354 Gordon Ave. ** Gordon Ave. cor. 6th St. Asinan, Olongapo City

244 356 Gualberto ** Zunio St. Gualberto Ave., Rosario, Batangas

245 366 SM Clark ** Bayanihan Park, SM Clark, Balibago, Angeles City, Pampanga

246 353 Guagua ^^ One Crown Property & Development, Plaza Burgos, Guagua, Pampanga

247 359 Olongapo Rotonda ** 1739 Rizal Ave. West Bajac Bajac, olongapo City

248 357 Tanza 2 ^^ Tanza Crossing, Daang Amaya, Tanza, Cavite

249 362 T. Mapua ^^ 1512 C.M. Recto Cor. F. Torres & T. Mapua Sta. Cruz Manila

250 369 Balayan ^^ 112 Plaza Mabini St. Balayan, Batangas

251 370 Urdaneta 2 ^^ Alexander St. Urdaneta City, Pangasinan

252 358 Dau #157 McArthur Hi-way, Dau, Mabalacat, Pampanga

253 360 Cabanatuan 3 ^^ Manson Bldg. Burgos Ave., Cabanatuan City

254 367 Riverbanks G/F ICT Bldg. 2, Riverbanks Center, Riverbank Ave., Barangka Marikina City

255 363 Lopez Drive ^^ RIDC Bldg. Lopez Ave. Cor. Dr. A. Santos Ave., Paranaque City

256 371 Dagupan 3 ^^ M.H. Del Pilar Cor. A.B. Fernandez Ave., Dagupan City

257 372 Pascor Drive Sky Freight Building, Ninoy Aquino Ave., Paranaque City

258 365 McKinley Hill Unit 1 G/F One Square, Upper McKinley Rd., McKinley Hill, Taguig City

259 377 Lucena 2 Lot #2771-B along Quezon Avenue, Lucena City

260 383 Maya Arcade ** G/F Maya Arcade 678 Edsa, Cubao, Quezon City

261 379 Olongapo 3 ** West 18th St. Corner Anonas West Bajac-Bajac, Olongapo City

262 380 Citadella ^^ CAA Rd. Corner Citadella Ave. Las Pinas City
263 361 Carmona ^^ Governor’s Drive Cor. Purification St. Cabilang Baybay. Carmona Cavite

264 374 Old Sta. Mesa ^^ 4456 Valenzuela St. Sta. Mesa Manila

265 376 TSU Brgy. Cut-Cut Romulo Ave. Tarlac City

266 387 Binangonan 2 ** National Road Cor. Quarry Road Pantok, Binagonan Rizal

267 378 Blumentritt 1 ** Rizal Ave. cor. Blumentritt Sta. Cruz, Manila

268 381 Don Galo ^^ 0423 Quirino Ave. corner Dimatimbangan St. Don Galo, Parañaque City

269 386 Palico Aguinaldo Highway Palico II Imus Cavite

270 389 Lucban Quezon Ave., Miramonte Subdivision Lucban, Quezon

271 391 Manaoag ** Felix St. Cor. Garcia St. Manaoag, Pangasinan

272 384 One E-Com Unit 4,5 & 6 Harbour Drive Cor. Palm Coast Ave. SM Central Business Park, Pasay City

273 390 One McKinley One McKinley 26th St. Fort Bonifacio Global City, Taguig City

274 404 Pacific Regency ^^ G/F Pacific Regency Bldg., P. Ocampo st.Malate, Mla.

275 398 Gordon Hospital ** 104 Rizal Avenue, East Tapinac, Olongapo City

276 407 Abanao ^^ Unit 2 Ong Bldg. Abanao St., Baguio City

277 388 Bago Bantay #131 Ilocos Sur ST. Cor. Bukidnon st. Bago Bantay Quezon City

278 396 DLSU-Lipa National Hiway, Brgy., Paninsingin, Tambo, Lipa City

279 395 Imus 2 ** 97-B Aguinaldo Hiway Bayan Luma Imus, Cavite

280 414 Lemery 2 ^^ Illustre ave. cor. Rajah Matanda st., Lemery, Batangas

281 393 Trancoville ^^ 148 M Roxas Street, Baguio City

282 410 Sto. Niño - Meyc. ^^ L. Camino Real Rd. Sto. Nino Meycauyan Bulacan

283 368 Naguillan ^^ Naguillan Rd. Cor. Bokawkan Rd. Baguio City

284 412 Don Bosco ^^ Don Bosco Road. Cor Chino Roces Ave., Makati City

285 411 Sta. Maria ^^ 49 Jose Corazon De Jesus st., Sta. Maria, Bulacan

286 375 Villamor ** Lot 12 B.1 12th St. Airman’s Village Airbase Area, Pasay City

287 409 San Pablo 3 ** Maharlika Hiway, San Pablo, Laguna

288 415 Mendez Proper Market Road Corner JP Rizal Mendez, Cavite

289 394 Maragondon Poblacion 1-A Maragondon Cavite

290 417 Subic Proper ** National Hi-way Brgy. Baraka, Subic, Zambales

291 419 Gate 3 ** AFPOVAI Western Bicutan, Taguig City

292 400 FPIP No. 158 Sta. Anastacia, Sto. Tomas, Batangas
ANNEx - Store Directory

293 397 Sta. Rosa Estate Sta. Rosa Highway, Sta. Rosa Estate, Sta. Rosa, Laguna

294 401 Philcom 8755 Paseo de Roxas, Makati City

295 413 BF Homes 2 ** Dr. A Santos cor. President’s Avenue, P’que City

296 421 AIC Gold ^^ Unit 101 AIC Gold Tower F. Ortigas Cor. Garnet Road Ortigas Commercial Center, Pasig City

297 423 Calasiao ^^ Pob. East National Rd. Calasiao, Pangasinan

298 453 Tayabas Quezon Avenue, Tayabas, Quezon

UG-01 One San Miguel Ave Condominium One San Miguel Ave, cor Shaw Blvd., Ortigas
299 420 One San Miguel
Center Pasig City

300 428 APC Balanga Tenejeros St. Balanga, Bataan

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301 448 Pavillion Mall Space Nos. 143-B Bldg A G/F Pavillion Mall, Biñan, Laguna

302 426 Sindalan ** McArthur Hi-way Sindalan, San Fernando Pampanga

303 422 La Union 1 ** Rizal Ave. cor. Gov. Ortega st., San Fernando City, La Union

304 444 Calamba 4 ** National Hiway cor Ipil-Ipil St., Calamba, Laguna

305 392 SM San Fernando Unit AX3 123a & AX3 123c, Building 4, SM City Pampanga, Lagundi, Mexico, Pampanga

306 424 Capaz ^^ Mc Arthur Hiway, Poblacion, Capas, Tarlac

307 427 Talavera ^^ Maharlika Hiway, Talavera, Nueva Ecija

308 439 Porta Vaga ^^ Fr. Carlu st. cor. Cathedral Drive, Baguio City

309 436 Leveriza ^^ #665 CRI Bldg. President E. Quirino Ave. cor. Leveriza, Malate, Manila

310 443 Olongapo City Hall 23rd st., Rizal Ave., East Bajac-Bajac, Olongapo City

311 468 SM Lucena 115-116 SM City Lucena Dalahican cor. Maharlika Hiway Nat’l Rd. Lucena City

312 440 Total Corporate ** Total Corporate Ctr Bldg., Bonifacio Triangle, Bonifacio Global City, Taguig City

313 450 PWU ^^ 1807 G/F Nakpil St. cor. L. Guinto St. Malate, Manila

314 451 Civic Prime Civic drive, Civic Prime Filinvest Corporate City, Alabang

315 435 Angeles 2 Miranda St., Angeles City, Pampanga

316 403 Tagaytay 2 ** One Tagaytay Place Calamba Rd., Tagaytay City

317 432 Dakota Mansion ^^ G/F Dakota Mansion, Malvar St., Cor. Adriatico St.. Malate, Manila

318 416 AUF Mc-Arthur High-way cor. Dona Aurora St., Angeles City, Pampanga

319 447 Kimston ^^ 2650 Agutaya St. cor. EDSA, Pinagkaisahan, Makati

320 425 Sunny Brooke ^^ Blk 31 Lot 6 Brooke side lane brgy. San Francisco, Gen. Trias, Cavite

321 433 Batangas 3 ^^ Poblacion 18, Rizal Ave., Batangas City

322 449 Eastwood 2 G/F One Orchard Condominium, Orchard Rd., Eastwood City, Bagumbayan, Quezon City

323 458 San Marcelino G/F CMC Bldg. #710 San Marcelino St., Ermita, Manila

324 431 Iba Zambales ** Magsaysay Ave., Poblacion, Iba, Zambales

325 442 San Jose NE ^^ Maharlika Highway National Road, San Jose City N.E.

326 446 Paniqui ** UCPB Building along National Highway,barangay Estacion,Paniqui Tarlac

327 438 Balanga Plaza ^^ Aguirre St. Balanga City

328 429 Mendez Crossing Aguinaldo Hiway Mendez Junction East, Tagaytay City, Cavite

329 459 Palapala ** E.L Toledo Bldg. along National Hiway, Brgy. Sampaloc I, Palapala, Dasmariñas, Cavite

330 466 Sterling Centre G/F Sterling Centre, Ormaza cor. Dela Rosa Sts, Legaspi Village, Makati City

331 469 Sta. Rosa NE ** Maharlika Hi-Way, Sta. Rosa, Nueva Ecija

332 418 Multinational ^^ J&P Bldg (Multinational) Ninoy Aquino Ave., Paranaque City

333 476 Mayapa National Highway, Brgy. Paciono, Calamba, Laguna

334 463 San Carlos Pangasinan ^^ Virgen Milagrosa University Foundation Compd. San Carlos City, Pangasinan

335 430 Balanga Church J.P. Rizal St., Balanga City, Bataan

336 465 Taal Proper ^^ Poblacion. 3, Taal Proper, Taal, Batangas

337 472 Nuvali ** Retail Space 1 Nuvali Technopod, Sta. Rosa, Laguna

338 484 Batangas Port ** Port Access Road, Brgy. Calicanto, Batangas City
339 479 Caltex NLEX Caltex NLEX Km17 Canumay Valenzuela Exit

340 471 Valenzuela Exit Maysan Road, Paseo De Blas,Valenzuela City

341 474 Wynsum ^^ Unit G1-C Wynsum Corporate Plaza 22 F. Ortigas Jr. Rd., Ortigas Center, Pasig City

342 455 Pearl Drive 2 G/F Unit 102, Pacific Place Condominium, Pearl Drive, Ortigas Ctr, Pasig City

343 480 Philtranco ** 610 Apelo Cruz St., Malibay, Pasay City

344 441 Malolos Poblacion ^^ Torres St. cor. M. Tenco, Poblacion Malolos, Bulacan

345 486 Alabang Med ^^ Unit 1 G/F Aurora Bldg, Alabang Zapote Rd., Mutinlupa City

346 445 NE Pacific ^^ Km 111, Brgy. H. Concepcion, Maharlika Hi-way, Cabanatuan City

347 460 Telus Arcade 6 &7 G/F Telus Bldg., Araneta Center, Cubao, Quezon City

348 464 OSMAK ** Blk 5 Lot 18 Sampaguita cor. Escarlata, Pembo, Makati City

349 454 Cogeo ^^ Marcos Hiway cor. GSIS Ave., Bagong Nayon 1, Antipolo City

350 492 Times Plaza ** G-4 G/F & 2/F Times Plaza UN Ave. cor. Gen Luna st., Manila

351 462 Gen T. De Leon Gen. T. De Leon St. , MacArthur Highway, Karuhatan, Valenzuela City

352 508 Heart Center G/F Philippine Heart Center, East Ave., Quezon City

353 452 Pio del Pilar ** Chino Roces Ave. (Pasong Tamo) cor. Dela Rosa st. Makati City

354 457 YP ** YP Bldg. Dr. A. Santos Ave., Sucat, Parañaque City

355 487 Vista Verde ** G/F Unit 1,2,3,4 Vista Square Comm’l Center, Felix ave., Cainta, Rizal

356 495 Sun Plaza ^^ G/F Sun Plaza Shaw Boulevard, cor Princeton st., Mandaluyong City

357 496 Tordesillas ** 108 Tordesillas cor. Gallardo st., Salcedo Village, Makati City

358 498 SM Cyber One ^^ Retail Space 4, Buendia Ave., Makati City

359 513 One Solaris ^^ Retail 2 G/F One Solaris Bldg, Dela Rosa St., Legaspi Village, Makati City

360 525 Muñoz 2 BLk 3 Lot 7 R. Magsaysay. EDSA, Munoz, Quezon City

361 434 Malibay Plaza 2 ** Reance Bldg. 93 C. Jose st. cor. Malibay Ave., Pasay City

362 490 12th Ave. ^^ Ten Commandments Bldg. 689 Rizal Ave, Grace Park, Caloocan City

363 481 Net Plaza ^^ Unit 14 E-Square Zone, Crescent Park West, Bonifacio Global City, Taguig

364 516 NE Crossing ^^ Maharlika Highway , cor. Burgos Ext., Sanigtan East Cabanatuan City

365 504 Paragon Plaza Upper G/F Paragon Plaza Condominium, EDSA cor. Reliance St., Mandaluyong City

366 510 LKG 11/F LKG Tower 6801-6803 Ayala Avenue, Makati City

367 528 BPO San Lazaro ** Retail 4, Vortex 1 Bldg. Yuseco cor. Felix Huertas, San Lazaro Racetrack, Sta. Cruz, Manila

368 542 Malugay (G) ** Chino Roces Ave., cor. Malugay and Gil Puyat, Brgy., San Antonio, Makati
ANNEx - Store Directory

369 543 Connecticut (G) ** EDSA cor., Connecticut, San Juan, City

370 548 SLEX (G) ** Km. 22 SLEX, San Antonio, San Pedro Laguna

371 547 Coastal (G) ** Aguinaldo Highway, Brgy., Tambo, Parañaque City

372 546 Boni- Malamig (G) ** 708 Boni Ave., Brgy., Malamig, Boni., Mandaluyong City

373 545 Capas- Junction (G) ** Nat’l Road, Sto., Domingo Junction, Capas, Tarlac

374 478 JP Rizal 2 ^^ 347 JP Rizal Ave.,cor. Pasong Tamo Ave., Makati City

375 529 Port Area ** 637 Bonifacio Drive, Port Area, Manila

376 544 Q, Ermita (G) ** Quirino Ave., cor. Mabini Ave., Manila M.M.

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377 549 Filinvest (G) ** Alabang- Zapote Rd., Filinvest, Muntinlupa City

378 531 La Trinidad ** National Road, KM5 La Trinidad, Benguet

379 552 Malolos Crossing E & R Building, McArthur Hi-way cor. Mabini St., Malolos Bulacan

380 512 Philam ^^ 9/F Philam Life Building, Paseo de Roxas, Makati City

381 470 Balanga Kapitolyo ** Capitol Drive Balanga Bataan

382 473 VG Cruz Ramon Magsaysay Blvd. Cor. Vicente Cruz St. Sampaloc Manila

383 533 Dagupan 4 ^^ G/F Orient Pacific Center cor. Perez Blvd., Rizal Ext., Dagupan City, Pangasinan

384 489 Eco Plaza ^^ Pasong Tamo Extension, Makati city

385 501 Sto. Domingo ** McArthur Hi-Way cor. Apo rd. Sto. Domingo, Angeles, Pampanga

386 527 Retiro 2 ** 311-313 N.S. Amoranto St. Sta Mesa Heights, Quezon City

387 540 Grand Hampton Grand Hampton Place, 1st Ave & 31st St., Fort Bonifacio Global City, Taguig

388 562 Daang Sarile (G) ** Daang Sarile Caltex Station, Daang Sarile, Cabanatuan City

389 518 SM Cyber Two cor Sen. Gil Puyat Avenue and Zodiac St, Bel-air Village, Makati City

390 570 Wilson (G) ** Wilson cor. Ortigas San Juan, City

391 591 Tikay Malolos (G) ** Mc Arthur Hi-way, Tikay, Malolos Bulacan

392 560 San Fernando NLEX (G) ** KM 62 NLEX North Bound Brgy. San Felipe, San Fernando Pampanga

393 561 Tarlac 2 (G) ** Mc. Arthur Hi-Way, Tarlac Tarlac City.

394 582 McKinley San Juan (G) ** Ortigas Ave.,McKinley, San Juan

395 576 Boni EDSA (G) ** EDSA cor., Boni Ave., Mandaluyong

396 577 Sta. Rosa Paseo (G) ** Tagaytay Road. Sta. Rosa Laguna

397 535 ATC ^^ Entertainment Complex, Alabang Town Center, Muntinlupa City

398 583 Harvard EDSA (G) ** EDSA corner Harvard St., Makati City

399 483 Fort Legend ** Blk 7 Lot 3 3rd ave. cor. 31st st. Fort Bonifacio Global City, Taguig City

400 559 Clark Hostel ** 2041 Ninoy Aquino Ave., cor., M.A. Roxas, Clark Freeport Zone, Pampanga

401 599 Burnham (G) ** Chanum cor., Otek St., Burnham Park, Baguio City

402 524 R. Papa 813 R. Papa and S. H Loyola St., Sampaloc Manila

403 596 San Pascual (G) ** San Pascual, Batangas

404 598 Upper Session (G) ** GSIS Compound, Marcoville Baguio City

405 519 UP Los Baños Student Union Bldg. University of the Philippines Los Baños, Laguna

406 502 Rockwell Business Center Tower 2 (North) Level 1 Unit No. N-02 Rockwell Business Center

407 461 Lamuan-Manotok JP Rizal, cor. Visayas st., Filipinas Village, Malanday, Marikina City

408 505 Makati Ave. 2 ^^ Makati Ave. Cor. Constelllation St., Brgy. Bel-air, Makati City

409 511 PBCOM 7/F PBCOM Tower Ayala Ave., cor. Rufino St., Makati City M.M.

410 517 New Port G/F Unit R2, Newport Office Bldg 1, Andrews St. Pasay City

411 581 DMG Center ** DMG Center, Libertad cor. Calbayog St., Mandaluyong City

412 493 San Pablo 5 ^^ Brgy. 6A Mabini St., San Pablo City, Laguna

413 565 Mabalacat Velasquez st., Mabalacat Proper, Pampanga

414 594 Victoria de Manila ** G/F- 101, Victoria De Manila, Taft Ave., Manila
415 530 Net Square ** 3rd Avenue cor., 28th St., E- Square, Crescent Park West, Bonifacio Global City, Taguig M.M.

Unit 2/F-A, Eastwood Citywalk Phase II, Eastwood City Cyber Park, 188 E. Rodriguez Jr. Ave.,
416 534 Eastwood 3
Bagumbayan, Q.C.

417 539 Tagaytay 3 Magallanes Square, Silang Juction West, Tagaytay City

418 580 Silver City L1-003A, Silver City, Frontera Verde, Ortigas Ave. cor C-5, Pasig City

419 586 Muzon ** Brgy. Muzon San Jose del Monte Bulacan

420 482 Villa Amparo ^^ Villa Amparo Subd., Aguinaldo Highway, Imus Cavite

G/F-01 Net One Center, Third Ave., cor. 26th St., Cresent Park West, Bonifacio Global City,
421 506 Ascendas **
Taguig City

422 563 Concepcion Tarlac Brgy. San Nicolas, Concepcion Tarlac

423 585 TRAG GL 10 The Residences, Arnaiz St., Makati City

424 500 Binondo ^^ Burke Plaza Sto. Cristo cor. San Fernando St. Binondo Manila

425 485 Berthaphil 4 ^^ Bldg 2 - Retail 1 Berthaphil 4, Clark Aviation Complex, A. Bonifacio Avenue, CFZ, Pampanga

426 572 Herco Center ^^ HERCO Center, 114 Benavidez St., Legaspi Village, Makati City

427 541 San Miguel ^^ 906 Norberto St., Brgy. San Jose, San Miguel, Bulacan

428 593 Farmers Market Space No. 00363- Farmers Market Arcade, Araneta Center Q.C.

429 226 Legarda ^^ 2108 Legarda St., Quiapo, Manila

430 639 Lingayen 1 ** National Hi-way, Lingayen Pangasinan

431 603 Fortune Square ** McArthur Hi-way, cor. Villa Julita Subdivision, Brgy. Saguin, San Fenando, Pampanga

432 554 N. Garcia ** 158 Jupiter St., corner N. Garcia St., Bel Air Village, Makati City

433 558 Welding Bldg. ^^ Oppen Building, 349 Sen Gil Puyat Ave., Makati City

434 610 Olongapo Public Market Canda St., East Bajac-Bajac, Olongapo City

Lopez Ave. cor. Mt. Halcon St., Los Baños Subd, Batong Malake/San Antonio, Los Baños,
435 494 Los Baños 2 ^^
Laguna

436 613 Baliuag Highway ** Doña Remedios Hi-way, Brgy. Pinagbarilan, Baliuag Bulacan

437 658 LRT2 Santolan ** Lot 2, C5-A, Santolan, Pasig City

438 515 Castillejos ** San Juan, Castillejos, Zambales

439 564 Rosario 2 No. 42 Ortigas Ave., Rosario, Pasig City

440 621 Lifehomes ^^ Lot 1-B-1-B, Ortigas Ave., Ext., cor. Alfonso St., Brgy. Rosario, Pasig City

441 587 Marvin Plaza Chino Roces cor., Herrera St., Makati City

442 615 San Pedro 5 Lot 8, A-B, National Hi-way corner Garcia St., Nueva (Poblacion), San Pedro, Laguna

443 608 Zaragosa ^^ Corner Concepcion, Zaragoza, Nueva Ecija

444 567 San Isidro No. 35 Brgy. San Isidro , Cabuyao, Laguna
ANNEx - Store Directory

445 568 Camiling ^^ Arellano St., cor., Quezon Ave., Camiling Tarlac

446 590 Kingswood ^^ U/ GF Kingswood Makati Condominium, Vito Cruz Ext., cor., Makati City

447 536 San Andres Mabini cor., San Andres St., Malate, Manila 1004 Philippines

448 503 Centris 1 G/ F Eton Cyberpod Centris EDSA, near cor. Quezon Ave.n Quezon City

449 606 Diamond Square Service Road, Mc Arthur Highway cor. Charlotte St. Balibago, Angeles Pampanga

450 648 Guadalupe 4 ^^ Kimston Plaza Building, P. Burgos St., Guadalupe, Makati City

451 589 Manila Executive Regency Unit 5 & 6 Ground Floor, Manila Executive Regency, Jorge Bocobo St., Ermita Manila

452 617 Grandview Angeles ** Lot 19-B, Don Juico Ave., Malabanas, Angeles City

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453 551 Woodridge ^^ Unit 5-6, The Woodridge Residences, Mckinley Hill, Fort Bonifacio, Taguig City

454 556 Batangas 4 ^^ Manuela Pastor Avenue corner Highway, Pallocan West, Batangas City

455 614 Bansalangin No. 4 Bansalangin St., Project 7, Quezon City, Metro Manila

101 Engineers Hill St., Jude Thaddeus Complex cor. Nevada Road and Guinto Alley, Baguio
456 616 Engineers Hill ^^
City

457 607 Enclave The Enclave, Fil-Am Friendship Hi-way, Pampanga, Angeles City

458 630 Mayfair Tower Commercial C, G/F Mayfair Tower, UN Ave., cor. Mabini St., Ermita Manila

459 649 St. Francis Towers ** St. Francis Drive, Ortigas Center, Pasig City

460 646 Pulilan ^^ National Rd., Brgy., Pobalcion, Pulilan Bulacan

461 650 Sienna del Monte 555 Del Monte Ave., Brgy., Manresa, Quezon City

462 624 Tagaytay 4 ** Olivarez Plaza along E. Aguinaldo Highway, Tagaytay City

463 619 Buendia 4 No. 317 Sen Gil Puyat Ave., Pasay City

464 688 Cabanas Mall ** Kilometer 44/45, McArthur Hi-way, Brgy. Longos Malolos Bulacan

465 628 Subic International Hotel Unit 142/ 144 & 146/148, SIH Alpha Bldg. Freeport Zone, Subic Bay, Olongapo City

466 579 Malinta 2 ^^ Unit 17, Danding Bldg., Cecilio J. Santos St., Valenzuela City

467 641 España Grand ^^ España cor., Tolentino cor., Eloisa, Metro Manila

468 497 Molito Complex ^^ Madrigal Ave., Madrigal Business Park, Alabang Muntinlupa

469 638 Carmelray ^^ Makiling Drive., Carmelray Industrial Park II, Calamba Laguna

470 640 Mangaldan ** National Road, Mangaldan Pangasinan

471 635 Noveleta Poblacion Noveleta, Cavite City

472 574 Salawag 2 Paliparan Road, Salawag Crossing Dasmariñas, Cavite

473 623 Hidalgo ^^ Unit 2 & 3, Isabelle de Hidalgo Bldg. Hidalgo St., cor., Cancer St., Quiapo Manila

474 604 Dewey Avenue Lot 2, Block 18, Dewey Ave., cor. Aguinaldo Highway, CBD, Subic Bay Freeport Zone

475 578 Malanday 2 ^^ Brgy. Malanday McArthur Highway, Valenzuela City

476 636 Betterliving 3 ^^ 27 Doña Solidad cor. Australia Sts. Better Living Subdivision, Don Bosco, Parañaque City

477 612 Pag-asa Imus ^^ Centennial Rd, Pagasa III, Imus, Cavite

478 679 NAIA 3 ** MIAA, 4th Level, Unit 37, Southwing of, NAIA Terminal 3, Pasay City

479 668 V. Santos ** 16 V. Santos cor., Santos St. Sto. Niño, Marikina City

480 675 Patts Dr. A. Santos Avenue, San Isidro, Parañaque City

481 620 FVR Area D (Sta. Cruz), Sapang Palay, San Jose Del Monte City, Bulacan

482 611 San Marcelino Zambales ** Brgy. Central, San Marcelino, Zambales

483 625 JP Laurel Malate G/F JP Laurel Memorial Bldg., M.H. del Pilar cor. Pedro Gil St., Ermita, Manila

484 632 Sixto A. Ave. Dr. Sixto Antonio Ave, Maybunga, Pasig City

485 709 Caltex Balibago ** Balibago cor. San Lorenzo Rd. Sta. Rosa Laguna

486 553 Tustine Alabang Molino St., South Super Highway, Alabang, Muntinlupa City

487 629 Pansol ^^ Purok 1, Pansol, Calamba City Laguna

488 669 City Oil Fairview ^^ Commonwealth Ave., cor. Pearl St., Fairview Quezon City

489 673 Burke Quintin Paredes Burke House No. 8, Quintin Paredes cor. San Vicente St., Binondo Manila

490 626 Berthaphil 5 ** Berthaphil V, Gil Puyat Ave., cor. Panday-Pira Rd., CFEZ, Angeles, Pampanga
491 717 Malasiqui ** Montemayor St., Poblacion Malasiqui, Calasiao Rd. Pangasinan

492 711 Tanauan 2 ** Brgy. Darasa, Tanauan City, Batangas

493 605 Molino 5 Molino Rd., Brgy. Molino III, Bacoor Cavite

509 Woodlands
494 G/F Pioneer Woodlands Showroom, EDSA near cor. Pioneer St., Mandaluyong City
Pioneer **

495 592 Sampol ^^ Brgy. Bagong Buhay, San Jose Del Monte Bulacan

496 680 Taytay 3 ^^ Manila East Road, corner Italia St., Brgy., Muzon Taytay, Rizal

497 622 Makati Executive Tower 3 Unit 6 and 7, G/F Makati Executive Tower 3, Sen. Gil J. Puyat Ave., Makati City

498 713 Suburbia ** McArthur Hi-way Brgy. Maimpis San Fernando Pampanga

499 654 Paniqui 2 ** M. H Del Pilar cor., Luna St., Paniqui, Tarlac

500 674 Zapanta Santa Rita St., cor., Orense St., Makati City

501 557 La Salle Med ** Bario Pasang Tala, Dasmariñas Cavite

502 618 Angelo King - CSB Arellano Ave., Malate Manila

503 681 DENR DENR Bldg., 1515 Roxas Blvd., Manila

504 685 Friendship Highway Lot 15, Blk 6, Frienship Hi-way, Brgy. Anunas, Angeles City

505 684 Escoda Leon Guinto St. near cor. Escoda St. Ermita Manila

506 645 MCU 3 EDSA cor., Serrano Ave., Caloocan City

507 652 Lagro Block 91 Lot 1 Ascencion Ave., Lagro Subdivision, Novaliches Quezon City

508 665 A. Mabini ^^ 2116-2117 A. Mabini St., Malate Manila

509 670 Mercedes Ave. Evergreeen 101, C. Raymundo Ave., San Miguel, Pasig City

510 682 Lucao District ^^ National Rd. cor. Jose De Venecia Rd., Dagupan City, Pangasinan

511 657 G. Tuazon 2 1850 G. Tuazon St., Sampaloc Manila

512 706 Aria ** Real St. cor. Aria St. Las Piñas City

513 689 Burnham Park 2 ** Shanum St.cor. Otek St. cor. Lake Drive, Burnham Park, Baguio City

514 664 Tejeron Tejeron St., Sta. Ana Manila

515 701 Sanrise M.H. Del Pilar ** 2164 M. H. del Pilar St., Malate Manila

516 694 Pili ** Maharlika Highway cor., Santiago St., Brgy. San Vicente, Pili, Camarines Sur

517 698 4th Ave. 4th Ave. cor. P. Sevilla St. Grace Park (West), Caloocan City

518 697 Bayambang ** National Highway, Bayambang Pangasinan

519 660 Scout Tobias ** Cedar Executive Bldg., # 26 Timog Ave., cor., Scout Tobias., Brgy Laging Handa, Q.C.

520 456 Sariaya Gen. Luna St. National Hi-Way Sariaya, Quezon
ANNEx - Store Directory

521 692 Attivo SF G/F Unit101B and 102B , Gapan- Olongapo Rd. San Fernando, Pampanga

522 721 San Mateo ** 103 Gen, Luna Ave., Gitnang Daan 1. San Mateo Rizal

523 569 Mabolo Bacoor Mabolo, Bacoor Cavite

524 686 Lubao Pampanga ** #24 J.P. Rizal St., Sta. Cruz, Lubao, Pampanga

525 662 Lingayen 2 ** cor. Artacho and Alvear Sts., Lingayen, Pangasinan

526 672 Bauan 2 ^^ Manghinao Proper, Bauan Batangas

527 712 Cardinal Santos Hospital Medical Arts Building Cardinal Santos Medical Canter, Wilson St. San Juan City

528 677 Tugatog Malabon 17 M.H. Del Pilar Rd., cor. Pureza St.,Tugatog Malabon City

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529 723 Angono 2 ^^ Manila East Road cor., Col. Guido St. Angono Rizal

530 727 Agoo La Union ^^ 16 McArthur Highway, Agoo, La Union

531 732 Bauang La Union Central East, Bauang, La Union

532 767 Dagupan Lyceum ** A.B Fernandez Ave. Dagupan City

533 663 Moriones 557 Moriones St., Tondo Manila

534 644 Citrus Brgy Minuyan, San Jose Del Monte, Bulacan

535 661 Tarlac Crossing ( Banco San Juan) Lot B, Plaza de Oro Arcade along McArthur Highway, Poblacion 2, Tarlac City

536 699 Dagupan 5 ** Burgos St. cor. Bonifacio St. Dagupan City, Pangasinan

537 729 Anabu Kostal ** Anabu Wet and Dry Market, Aguinaldo Highway, Anabu II-A, Imus Cavite

538 722 Alimall 2 G/F Alimall, P. Tuazon, Araneta Center, Q.C.

539 627 BSA Tower G-4 BSA Tower Condominium, No. 108 Legaspi St. Legaspi Village, Makati City

540 676 Rivercity Residences (LUI bldg) 2143 Carreon St., Sta. Ana Manila

696 Betterliving 4 (Caltex Doña


541 Lot 18, Doña Soledad Ave. Betterliving Subd. Parañaque City
Soledad)

542 716 Tumana Farmers Ave., cor. J.P. Rizal St., Concepcion, Marikina

543 714 System Plus ** Diamond Service Road, Mc Arthur Hi-way, Angeles City

544 704 Mindanao Avenue ** 547 Quirino Hi-way. cor. Mindanao Ave. Talipapa, Novaliches, Q.C.

545 731 Southwoods Exit ^^ Rosario Complex, San Vicente, San Pedro Laguna

Unit 9-2, 9th flr. Net One Center, 3rd Ave., cor., 26th St., E-Square, Cresent Park West,
546 690 Net Cube
Bonifacio Global City, Taguig, MM

547 728 University of Baguio ** FB bldg., Assumption Rd., Baguio City

548 719 Deparo Deparo Rd., cor. T. Samson Ave., North Caloocan City

549 730 Washington ** Unit 3, AGS Plaza, Washington St., Brgy. Pio Del Pilar, Makati City

550 736 F. Tañedo 1 ^^ F. Tañedo St.,San Nicolas, Tarlac City

551 703 Mckinley 1820 Unit A, McKinley Road McKinley Town Center, Fort Bonifacio, Taguig City

552 702 Naga 1 ** Grand Imperial Plaza cor. P. Burgos and J. Hernandez Ave. Naga City 4400

553 715 One Archer’s Unit 6, G/F of One Archers Place, Taft Ave., Malate Manila

554 726 Paliparan Mabuhay City, Paliparan Dasmariñas Cavite

555 780 Pulang lupa 2 B5 Lot 6 Guinto Park Sudv. Naga Road cor., St. Joseph Ave., Pulang Lupa II, Las Piñas City

556 742 Gastambide 621-629 Dormitory, Gastambide, Sampaloc Manila

557 745 Antel Spa ** 7829 Makati Avenue cor., Valdez St., Makati City

558 750 Mabini Soldado G/F 1533 A. Mabini St., cor. Soldado St., Ermita, Manila

559 789 Caltex BSU ** Caltex Gas Station; McArthur Highway , BO., Guinhawa, Malolos City, Bulacan

560 735 West Rembo ^^ Lot 1 Blk. 76, Brgy. West Rembo, Makati City

561 744 F. Manalo F. Blumentritt cor., F. Manalo, San Juan City

Retail Unit 1, El Jardin del Presidente, No. 41 Sgt. Esguerra St. Cor Scout Bayoran, Quezon
562 720 El Jardin
City

563 764 Carluyan N.U. M.F Jhocson St., Sampaloc , Manila

564 707 Concepcion Uno ** Bayan Bayanan Ave. Brgy. Concepcion 1, Marikina City

565 653 Bacoor 2 141 Evangelista St. Daang Bukid, Bacoor Cavite

566 718 Towerville ^^ Brgy. Minuyan Proper, San Jose Del Monte, Bulacan
567 743 Pulong Buhangin National Hi-way, Brgy Pulong Buhangin, Sta. Maria Bulacan

568 839 Total Tarlac ** Mc Arthur Highway, Tarlac City, Tarlac

569 772 Tanay 2 Market Road cor. F.T. Catapusan St. Brgy. Plaza-Aldea, Tanay Rizal

570 769 San Fernando 3 Gen. Hizon Avenue, San Fernando, Pampanga

571 760 Comembo ** Comembo Commercial Complex. JP Rizal Extension, Makati City

572 813 Biñan Caltex ** Malvar St. Brgy. San Antonio, Biñan Laguna

573 755 Sunshine Plaza Sunshine Boulevard Plaza, Quezon Ave., cor., Scout Santiago and Panay Ave., Quezon City

574 776 CBD Hotel (Naga Terminal) ** G/F of CBD II Hotel, Ninoy and Cory Ave., Brgy. Triangulo, Naga City

575 738 Sumulong 2 ^^ Sumulong Highway cor. B Soliven Ave., Antipolo City

576 758 Dalandanan ^^ Brgy. Dalandanan, Lazaro St. cor. Mc Arthur Highway, Valenzuela City

577 838 Mariveles ** No. 91 Lakandula St., cor., P. Burgos St., Poblacion, Mariveles, Bataan

578 643 Edsa Grand EDSA cor Corregidor St. Bago Bantay Q.C

579 651 Total Balanga National Rd., Calero St., Brgy., Ibayo, Balanga, Bataan

580 678 Xevera ** Brgy. Tabun, Mac Arthur Highway, Mabalacat, Pampanga

581 710 Tejero ** Antero Soriano Highway Tejero, General Trias Cavite

582 791 Imus 4 ** Buhay na Tubig, Imus Cavite

583 808 Binmaley ** G/F Purification Building Poblacion, Binmaley, Pangasinan

584 811 Tanauan 3 Pres. Laurel Highway cor., Molave St., Tanauan Batangas

585 822 Palico 2 Aguinaldo Hi-way, Palico IV, Imus Cavite

586 733 Forest Hill ^^ Quirino Highway and Forest Hills Drive. Forest Hills Subd., Novaliches, Quezon City

587 796 San Fernando 4 Consunji cor., Abad Santos St., Poblacion, San Fernando, Pampanga

588 795 BF Resort 2 Blk. 1 Lot 4 BF Drive BF Resort Village, Las Piñas City

589 797 Old Balara #986 Tandang Sora Ave., Brgy., Old Balara, Quezon City

590 705 CWC ** Cadlan, Municipality of Pili, Province of Camarines Sur

591 753 F. Tañedo 2 F. Tañedo St., Tarlac City

592 768 Navotas ^^ 635 M. Naval St., cor. C-4 Rd., Bagumbayan North, Navotas City

593 778 Expo Cubao G/F VI-LA Bldg. Unit- B, EDSA, Q.C

594 741 Earnshaw Lot 2-B J. Figueras St. cor. Palmera St., Sampaloc, Manila

595 770 Manila Cityhall Arroceros St., Ermita, Manila

596 874 Kidney Center ** East Ave. Quezon City


ANNEx - Store Directory

597 826 Phoenix Phoenix Lucena, Maharlika Highway, Lucena City

598 762 Supercenter ^^ 00040/00041 Superstore Arcade, Araneta Center, Quezon City

599 814 Lian Batangas ** J.P Laurel St., cor., Kapitan Isko St., Lian, Batangas

600 872 Total San Pablo Total Gas Station, Maharlika Highway San Pablo City Laguna

601 773 Raon G. Puyat cor., Quezon Blvd., Raon, Quiapo Manila

602 830 Total Cutcut Friendship Hi-way corner Poinsenttia St.Angeles, Pampanga

603 856 Guimba ** No. 16 A Salvador St., Bargain St. Guimba, Nueva Ecija

604 842 Naguillan Poblacion Naguillan road corner Rimando St., Naguillan La union

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605 724 Manila Residences ** Unit 101-102 and 127-128, The Manila Residences, 2320 Taft Ave., Malate Manila

606 748 Camp John Hay ^^ Space 4, Baguio Technohub Retail Plaza BPO-A, Camp John Hay, Baguio

607 757 Naga 3 (Sunny View Hotel) Panganiban Drive, San Francisco, Naga City

608 805 East Ave. 2 G/F NCHP Bldg. EDSA cor. East Avenue, Brgy. Pinyahan, Quezon City

609 827 Tagaytay City Market ** City Market, Tagaytay Sta. Rosa Road, Brgy San Franciso , Tagaytay City.

610 828 Bay ^^ Brgy. Dila, Bay, Laguna

611 829 Areza ** National Highway Brgy., Canlalay

612 889 Eastern Petroleum ** Rizal ave. and Argonaut Highway NSD Compound, Subic Bay Freeport zone

613 790 Sta. Cruz 2 Sitio Sampaguita, Brgy. Bubukal, Sta. Cruz Laguna

614 775 Cabanatuan 4 Mahalika Highway, Cabanatuan City

615 824 St. Aquinas Sto. Tomas General Malvar Avenue, Sto. Tomas, Batangas

616 876 Magalang ** Sta. Cruz, Magalang Pampanga

617 807 Urdaneta 3 ** Mc Arthur Hi-way, San Vicente,Urdaneta City, Pangasinan

618 894 Macabling ** Brgy. Macabling, Sta. Rosa, Laguna

619 819 St. Lukes 2 ^^ St., Luke’s Medical Bldg., E. Rodriguez Sr., Quezon City

620 846 Tanza 3 ** Blk 1 Lots 4 and 5, Filinvest West, Brgy. Paradahan, Tanza Cavite

621 752 Bustos ^^ Brgy. Poblacion Bustos Bulacan

622 781 Kingsville ** Marcos Hi-way Brgy. Mayamot, Antipolo City

623 788 SLU Baguio ** A. Bonifacio St., across SLU Main Gate, Baguio City

624 866 Gumaca ** Andres bonifacio Street, corner J.P Brgy Rizal, Gumaca, Quezon

625 818 Lucban 2 Brgy. Tinamnan, Lucban, Quezon

792 Sta. Monica (Ave. of the Arts


626 Roxas Boulevard corner Sta. Monica & L.M. Guerrero St., Ermita, Manila
Residences) **

627 852 Bucandala ** Patindig araw corner alapan road, bucandala Imus Cavite

628 887 San Antonio Zambales ** San Marcelino-San Antonio-San Narciso Road, Poblacion San Antonio, Zambales

629 782 SeaOil Pritil ^^ 1688 Juan Luna St. Brgy. 61, Zone 005, Tondo, Manila

630 784 Teresa Magsaysay Ave., Brgy., San Gabriel Teresa Rizal

631 882 Atimonan Poblacion G/F Renegado Property Rizal Street corner Quezon St., Atimonan, Quezon

632 806 Villaflor ** National Rd., Brgy. Poblacion, Dagupan City, Pangasinan

633 812 Paciano Paciano Highway, Brgy. Paciano Rizal, Calamba, Laguna

634 725 Bagong Ilog G/F AVC Bldg., E. Rodriguez Ave., cor., Sta. Rosa St., Bagong Ilog Pasig

635 761 Naga 2 (Ateneo Ave.) ** No. 2, Ateneo Ave., cor. Bagumbayan St., Naga city

636 821 Cityplace Binondo ** City Place Binondo, Sta. Elena St., Binondo, Manila

637 815 Pila Highway Brgy. Labuin, Pila Laguna

638 836 Torre Venezia Sct. Santiago, corner Timog Ave., Quezon City

639 555 C. Raymundo #64 Stella Mariz cor., C. Raymundo Ave., Maybunga Pasig City

640 751 Emar Suites ** 409 Shaw Blvd., Mandaluyong City

641 804 Amorsolo # 146 Amorsolo St., Legaspi Village, Makati City

642 786 BF Homes 3 G/F of Omega Star Bldg. 1112 Aguirre BF Homes, Parañaque City
643 851 Lopez, Quezon ** Maharlika Highway, corner San Isidro Street, Lopez, Quezon

644 783 Divine Mercy ** Marilao- Muzon Rd., Brgy., Sta Rosa 1, Marilao Bulacan

645 843 Mayapa 2 ** Mayapa Road, Brgy. Mayapa, Calamba Laguna

646 898 San Carlos 2 ** 33 Rizal St., San Carlos City, Pangasinan

647 817 Malinta 3 Mc Arthur Hi-way corner Gov. Santiago Malinta, Valenzuela City

648 746 Gen. Luna (Baguio) Gen. Luna St. Baguio City, Benguet

649 841 United Paranaque 2 ** Tindalo corner E. Services Road, Paranaque City

650 896 Katipunan ** 48 Esteban Abada St., corner Rosa Alvero St., Loyola Heights, Katipunan, Quezon City

831 Marcos Hiway Baguio City (ECC)


651 ECC Building Brgy. Bakekang, along Marcos Highway, Baguio City
**

652 865 Perez Inong Building, Governor’s Drive corner Hugo Perez Drive Trece Martirez, Cavite

653 859 Landayan ** Brgy. Landayan, San Pedro, Laguna

654 802 Market Avenue ** Market Ave., cor. M.H. Del Pilar Pasig City

655 895 Cuenca ** Poblacion 1 National Highway, Cuenca, Batangas

656 853 Tayug ** Bonifacio St. Poblacion, Tayug Pangasinan

657 835 Banawe 2 Banawe St. Brgy Josefa Quezon City

658 908 Dinalupihan ** #3 San Ramon Highway, Dinalupihan, Bataan

659 857 Dita Margarita Brgy. Dita, Sta. Rosa City, Laguna

660 763 Manhattan G/F Manhattan Parkway, Araneta Center, Quezon City

661 825 Lucena 3 ** Quezon Avenue, Lucena City

662 801 Riverbanks 2 73 A. Bonifacio cor. Chorillo St. Brgy. Barangka, Marikina City

663 810 Macabebe ** Poblacion, Macabebe, Pampanga

664 877 Tune Hotel ** 1740 A. Mabini Street, Malate, Manila, Phiippines

665 893 Famy Manila East Road cor. Infanta Quezon Road, tunhac, Famy, Laguna

666 799 Doña Aurora (Milan Residences) G/F Milan Residences 16 Plaridel St., cor. E. Jacinto St., Quezon City

667 737 San Roque Tarlac Brgy. San Roque, Tarlac, Tarlac

668 847 Alaminos ** Teodoro Bldg., Quezon Ave., Across NEPO Mart, Alaminos City Poblacion

669 779 Sta. Quiteria ** Sta. Quiteria, Caloocan City

670 860 Asuncion (ex MS) Asunsion St., cor., Zaragosa St., Divisoria, Tondo, Manila

671 837 Tiaong Stop Over Villa Escudero, Maharlika Hi-way, Brgy Lalig, Tiaong

672 886 Libmanan G/F Dy Property, Poblacion Street, corner Bigaon St., Libmanan, Camarines Sur
ANNEx - Store Directory

673 845 Plaridel Waltermart Banga 1, Plaridel, Bulacan

674 759 CDC Clark (Our Homeplate) ** E. Aguinaldo Ave., cor. E. Quirino St., Clark Freeport Zone

675 903 OYG Building ** G/F OYG Building B. Mendoza St., San Fernando, Pampanga

676 888 La Union 2 (DMMMSU) ** McArthur Highway, Sevilla, Sam Fernando City, La Union

677 794 Bagtikan ** 1180 Chino Roces cor., Bagtikan St., Brgy. San Antonio, Makati City

678 890 Lima Tech (Malvar Batangas) ** Santiago, JP Laurel Highway, Malvar, Batangas

679 912 Calamba Science Park ** Science park II, National Rd., Real Calamba Laguna

680 809 Paliparan 2 ** Paliparan- Molino Road, Paliparan III, Dasmariñas Caviite

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681 875 Menzy Land Brgy Mojon, Malolos, Bulacan

682 878 Shell Diversion Roxas Ave. Triangulo, Naga City, Camarines Sur

683 855 UERM ** R.Magsaysay Blvd. Ext. Quezon City

684 747 Lyceum (Ex-Maritime Agency) 465 Muralla corner Real St., Intramuros, Manila

685 942 Munoz, Nueva Ecija ** D. Delos Santos St. Science City of Muñoz, Nueva Ecija

686 883 Madapdap ** San Fernando Avenue corner Porac Avenue, Brgy. Dapdap, Mabalacat, Pampanga

687 885 San Fabian ** Quezon Highway San Fabian, Pangasinan

688 914 Nabua ** San Roque Poblacion, Nabua, Camarines Sur

689 869 Finman 117 Tordesillas St. Salcedo Village, Makati City, Metro Manila

690 884 Galicia Property ** Galicia st. corner España, Sampaloc, Manila City

691 766 K- Zone K-Zone Bldg., NIA-PDEA cor., EDSA, Brgy. Pinyahan, Quezon City

692 863 Tanauan 4 ** A. Mabini Avenue, Tanauan City, Batangas

693 897 Lucena 4 (Lee Property) M.L Tagarao Street, Barangay Iyam, Lucena City

694 899 Sotto Unit 117 Sotto-Yuvienco Building, 910 Gonzales St., cor., Gen Luna St., Ermita, Manila

695 901 Gen Trias Poblacion Sampalukan St., Poblacion, Gen. Trias, Cavite

696 925 Tuy ^^ Rizal st., Poblacion, Tuy, Batangas

697 933 UCLM ** MYFC Building, A.C. Cortez Avenue, Mandaue City

698 948 Escario Central ** N. Escario, Barangay Kamputhaw, Cebu City

699 934 JY Square Mall Salinas Drive, corner Gorordo avenue, Lahug Cebu City

700 834 Remington Hotel ** Ground Floor Shop 2, Remington Hotel, Newport City

701 935 Tune Hotel Cebu 36 Archbishop Reyes Avenue, Cebu City

702 938 Ibaan, Batangas ** J. Pastor St. Poblcion, Ibaan, Batangas

703 754 Mines View Plaza Outlook Drive, Mines View Park, Baguio City

704 749 SM TwoE-com Retail 10 G/F, Two Ecom Center Ocean Drive, Mall of Asia Complex, Pasay City

705 913 Pagsawitan Brgy. Pagsawitan, Sta. Cruz, Laguna

706 940 Rada ** G/F HRC Center located at 104 Rada St. Legaspi Village Makati City

707 950 Bigfoot G/F Bigfoot Center F. Ramos St, Cogon Central Cebu City

708 989 CPI Mango Ave. ** Gen. Maxilom Avenue (Mango Ave.), corner Juana Osmena Street, Cebu City

709 991 CPI NRA (North Reclamation) ** Ounao Ave., North Reclamation Area, Mandaue City

710 937 VRP-Sierra Madre ** Sierra Madre St., Brgy Highway Hills Mandaluyong City

711 920 Malvar Poblacion ** Poblacion, Malvar, Batangas

712 990 Banilad ** AS Fortuna Street, corner Gov. M. Cuenco, Banilad, Cebu City

713 915 Alaminos, Laguna Del Pilar St., Alaminos, Laguna

714 850 Airport Road 2 Roxas Boulevard coner Airport Road, Baclaran, Parañaque City

715 864 Legislative Bldg. Rizal St., cor. Hilario St., Tarlac City

716 909 Plaza 66 Plaza 66 New Port City

717 1006 Caltex Basak ** MC Briones Street, Mandaue City

718 1007 Caltex Labogon ** Cebu North Road, Labogon, Mandaue City
719 900 Catanauan ^^ Poblacion 10, Catanauan, Quezon

720 656 Marquinton Cordova Tower ^^ C-101 & C-102, Marquinton Cordova Tower, Sumulong Highway, Marikina City

721 930 Caltex Sto. Tomas ** Maharlika Highway Brgy. San Antonio, Sto. Tomas, Batangas

722 953 San Jose, Batangas ** Brgy. Taysan, SanJose, Batangas

723 800 UST Campus ** University of Santo Tomas, Sampaloc Manila

724 868 Armstrong ave 160 Armstrong Ave., Cor E. Rodriguez Moonwalk Village, Brgy Moonwalk Parañaque City

725 946 Cebu Capitol Don Gil Garcia St., cor N.G. Escario St., Capitol, Cebu City

726 947 CDU ** Phase 2 Carvelco Canteen, North Reclamation Area, Mandaue City, Cebu

727 926 Sangley point Dra. Salamanca St. Sangley Point, Cavite City

728 911 Balayan 2 (Gibson) Antorcha St.,Corner Paz St., Balayan, Batangas

729 998 Mambog, Bacoor New Molino Blvd., Bacoor Cavite

730 929 Calauan ^^ Brgy. Kanluran, Calauan, Laguna

731 870 Soho Units 12/13, Level 1, Soho Central, Green Field District, Mandaluyong City

732 922 Angono Medics Quezon Ave. Hihgway, Brgy. San Isidro, Angono Rizal

733 798 C5 Damayan ** Blk. 51 Lot 8 Phase 2, Bgry., Pinagsama, Taguig City

734 659 Lung Center ^^ Diliman, Quezon City

735 849 Caltex San Simon ** Mac Arthur hi-way San Simon Exit, Pampanga

1st Floor of Tower B., Clark Ode County, C.M. Recto Highway, Clark Freeport Zone,
736 1016 Clark County **
Pampanga
GF, CSPC-Entreprenuership Training Center, Camarines Sur Polytechnic Colleges-Naga
737 945 CSPC **
Campus

738 952 Montalban, Burgos J.P Rizal cor. Montaña drive, Brgy. Burgos, Montalban Rizal

739 1019 Banay-Banay ** Brgy. Banay-Banay, Cabuyao, Laguna

740 961 La Paz ** La-Paz Concepcion Road, Brgy. San Isidro, La Paz, Tarlac

741 968 Tagudin ** Barangay Rizal, Tagudin, Ilocos Sur

742 854 Naga 4 Liboton St., cor Jacob St. Naga City Camarines Sur

743 873 Lipa Cathedral San Sebastian Cathedral, Lipa City

744 963 Bayani Road ** Bayani Road cor. Diego Silang, Taguig City

745 993 San Felix Sto. Tomas, Batangas

746 971 Pila Poblacion Rizal St., Sta. Clara Sur, Pila, Laguna

747 962 Masapang, Victoria National Highway, Brgy. Masapang, Victoria, Laguna

748 927 Dasma 4 B61 L1 Brgy., San Juan, Dasmariñas City, Cavite
ANNEx - Store Directory

749 941 Sariaya 2 Maharlika Highway, Brgy., Santo Cristo, Sariaya

750 924 Tawilisan ^^ Brgy.Bihis, Tawilisan, Taal, Batangas

751 1020 St. Louis College ** McArthur Highway, San Fernando, La Union

752 976 San Vicente Lipa ** Brgy. Banay-Banay, Lipa City, Batangas

753 928 Arayat 3 Mangga-Cacutud Road, Poblacion, Arayat, Pampanga

754 959 Jaen ** San Isidro-Jaen Road,Jaen, Nueva Ecija

755 966 Yellow Bldg Unit 1 Yellow Building 2A South Station Alabang Muntinlupa

756 988 Ongpin 1043 Ongpin St. cor. Gonzalo Puyat, Manila City

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757 1030 Caltex Plaridel (Cebu) Plaridel Street, Brgy. Alang-Alang, Mandaue City

758 1021 Talamban Crossing (Cebu) ** M. Cuenco Ave., cor., M.L. Quezon St. Talamban, Cebu

759 1054 Grotto Vista ** Sta. Maria Tungkong Mangga Road, Graceville, Tungko, SJDM, Bulacan

760 1028 Caltex N. Bacalso (Cebu) ** N. Bacalso Street, Cebu City

761 943 Daet (Louie’s Restaurant) ** Louie’s Restaurant, F. Pimentel Avenue, corner, JP Rizal St., Daet, Camarines Norte

762 955 Victoria ** Tarlac-Victoria Highway, Victoria, Tarlac

763 982 RM Olongapo RM Centerpoint Bldg. Brgy. East Tanipac, Magsaysay Drive, Olongapo City

764 951 San Agustin (Sto. Tomas) ** Brgy San Agustine, Sto. Tomas, Batangas

765 978 Naic 2 A. Soriano Highway Naic, Cavite

766 957 Bamban ** McArthur Highway, Bamban Crossing, Bamban Tarlac

767 1034 Calamba 6 ** Brgy. Parian cor. Lawa Road, Calamba City, Laguna

768 904 Langkaan, Dasma ** Governor’s Drive cor Langkaan Drive, Langkaan Dasmarinas Cavite

769 1038 Total Lucena ** National Highaway, Lucena City, Quezon Province

770 965 Siniloan L. De Leon St., Brgy. Acevida, Siniloan, Laguna

771 1080 CPI Soldier’s Hill ** National Highway cor. Soldier Hills, Muntinlupa City

772 939 Samal ** Brgy Poblacion Samal, Bataan

773 994 St. Theresa (Casa Rosario) 101-F Aboitiz Street, Cebu City

774 1056 Calaca Poblacion 3, Calaca, Batangas

775 954 Matatalaib ** Sitio Buno, Matatalaib, Tarlac City

776 986 San Sebastian College Mendiola Square, 2144-46 Claro M. Recto, Manila

777 1014 RCEE DORM (Cebu) ** N. Bacalso Ave., Brgy. Duljo, Cebu City

778 1037 D’Ace Plaza ** United Avenue cor. Brixton St., Pioneer, Pasig City.

779 974 Splendor Place G/F of Splendor Place, J. Nakpil St. cor., J.Bocobo St. Malate, Manila

983 Bonifacio Technology Center


780 G/F Bonifacio Technology Center 2nd Ave., Global City, Taguig
(BTC)

781 1022 Colon (Lucky 99) ** Colon Street, corner Pelaez Street, Downtown, Cebu City

782 919 San Felipe ** Poblacion, San Felipe, Zambales

783 981 LB Square ** Lopez Drive, Batong Malake, Los Baños, Laguna

784 931 Gagfa I.T. Center (Cebu) ** G/F Gagfa IT Center, F. Cabahug St. Mabolo Cebu City

785 1050 UV Main ** Brgy. Parian Colon St., Cebu City

786 1049 Magellan’s Cross ** Islands Sinulog Square, Cebu City

787 1060 J. Center Mall ** LGF-04 J. Center Mall, A.S. Fortuna, Brgy. Bakilid, Mandaue City

788 1065 CPI Pasay Rd ** EDSA/ Dela Cruz St., Pasay City

789 980 Legazpi 1 ** Lapu-Lapu St. cor. Quezon Ave. Legaspi City

790 987 Manila Cathedral ** GF Ferlaw Building, Cabildo St. Intramuros, Manila

791 1084 San Matias ** McArthur Hi-way, San Matias, Sto. Tomas, Pampanga

792 916 GMA 2 ** Congressional Road, Poblacion GMA Cavite

793 1094 Calyx ** #5 of Calyx Centre, Cebu IT Park, Lahug, Cebu City

794 1062 Gerona Poblacion ** McArthur Highway Brgy. Poblacion, Gerona, Tarlac
795 1048 Conchita Building ** Conchita Bldg., 311 Jones Avenue, Cebu City

796 906 Aseana One Aseana One,BRADCO Avenue, Parañaque

797 1033 San Isidro, NE ** Poblacion, San Isidro, Nueva Ecija

798 1044 Liliw Poblacion Gat Tayaw St., Liliw, Laguna

799 1005 Alfonso Mabini Corner Mojica, Pobalacion, Allfonso, Cavite

800 1058 Silang M.H. Del Pilar St., Poblacion,Silang Cavite

801 1017 World Citi Aurora Blvd. Cubao, Quezon City

802 996 CPI Pagbilao Brgy. Bukal (Poblacion), Pagbilao, Quezon

803 1091 CPI Guagua ** GSO Road cor. San Matias, Guagua, Pampanga

804 1088 Mataas na Kahoy ** Brgy. Poblacion, Mataas na Kahoy, Batangas

805 969 Entec Bldg. ** Doña Teresa cor. Don Juan Nepomuceno Ave. Nepo mart Complex Angeles Pampanga

806 1003 Tiaong 3 National Highway, Lusacan Tiaong, Quezon Province

807 1068 CPI FTI - E. Service Road ** FTI, Taguig

808 1055 Culiat Tandang Sora Ave., cor. San Ponciano St. Brgy. Culiat Quezon City

809 932 IMEZ 2 ** Pueblo Verde in Mactan Economic zone II, Basak, Lapu-Lapu City

810 1029 Caltex Tipolo Basak ** MC Briones Street, Tipolo, Mandaue City

811 1090 Imus 5 (Pasong Buaya) Pasong Buaya 2, Imus, Cavite

Unit 6A, Northwalk Clark, M.A. Roxas Highway cor. New Friendship Gate, Clark Freeport
812 708 Northwalk **
Zone, Angeles city

813 1036 Sta Rosa 5 (Amihan) ** 261 B Sampaguita St., Amihan Village I, Tagapo, Sta. Rosa, Laguna

814 1143 Apple One ** Unit 105 Apple One Tower, Mindanao Ave., cor. Biliran Road, Ayala Business Park, Cebu City

815 1052 Canlubang Exit ** National Highway, Brgy. Mayapa, Calamba, Laguna

816 1087 Legaspi 2 (BU Main) ** 1106 Rizal St., Brgy. 1, EM’s Barrio, Legazpi City

817 1057 AMC Belfranlt ** Belfranlt Bldg. P. Burgos St., Angeles City, Pampanga

818 1115 Sto Domingo Ilocos Sur ** Sto. Domingo, Bagsakan, along Maharlika Highway, Sto. Domingo, Ilocos Sur

819 1025 Vigan Landmark ** Vigan Landmark building, along Jose singson Vigan City

820 1009 Lyceum Alabang Lyceum Alabang, Brgy. Tunasan Muntinlupa City

821 1082 Calumpit ** Brgy. Bulangao, Calumpit Bulacan

822 1092 Cabuyao 4 (Pulo) ** Brgy. Pulo, Cabuyao, Laguna

823 995 Pines City Manuel L. Quezon Extension, Antipolo City

824 1002 Antipolo 3 Circumferential Rd., cor. J. Sumulong Highway, Brgy. San Roque, Antipolo City
ANNEx - Store Directory

825 1035 Canlubang ** Blk 47 Phase 1 Kapayapaan Vill. Calamba City, Laguna

826 1010 Masinloc ** Mercedes cor. Kapitan Tinong Streets, North Poblacion, Masinloc Poblacion, Zambales

827 1083 New Era ** Central Ave. cor. St. Mary St., New Era, Quezon City

828 1114 Sta. Cruz, Ilocos Sur ** National Highway, Sta. Cruz, Ilocos Sur

829 1111 Two SANPARQ ** San Antonio Park Square, Lacson St. Mandalagan, Bacolod City

830 984 Merge Point C-store ^^ Along National Highway, Vigan Junction - Bantay, Ilocos Sur

831 1107 Karangalan ** F.P. Felix Ave., Karangalan village Gate 2, Cainta, Rizal

832 1012 Sta. Rosa 3 (Nissin Balibago) F. Reyes St. Balibago, Sta. Rosa, Laguna

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833 977 Pansol 2 National Highway, Bagong Kalsada, Calamba, Laguna

834 1098 Angat ** 265 M.A. Fernando St., Angat, Bulacan

835 1099 Vermont ** Marcos Highway, Brgy. Mayamot, Antipolo City

836 1105 Sabang ** Don P. Campos Ave., Brgy. Sabang, Dasmariñas City, Cavite

837 1124 Mabiga ** Pineda Building, Mac Arthur Highway, Mabiga, Mabalacat, Pampanga

838 956 Candaba ** Main Road, Poblacion, Candaba, Pampanga

839 1008 Alangilan ** Brgy. Alangilan, Batangas City

840 1187 Gen.Trias Manggahan ** Newhall Commercial Complex, Manggahan, Gen. Trias, Cavite

841 1093 Victoria Laguna Brgy. Nanyaha, Poblacion Victoria, Laguna

842 1067 CPI Shaw Pioneer Pioneer Shaw Blvd., Mandaluyong City

843 1120 San Luis, Batangas National Road at Brgy. Muzon, San Luis, Batangas

844 1023 Cab Central Terminal ** Along Circumferential Road,Cabanatuan Central Terminal Cabanatuan City, Nueva Ecija

845 1053 Calamba 7 Pabalan St. Calamba City, Laguna

846 1069 Montillano 1 89 Montillano cor. Ilaya Brgy. Alabang, Muntinlupa

847 1134 Lipa City Hall ** Brgy. Maraouy, Lipa City, Batangas

s103-105, Level 1, Main Wing Shangri-La Plaza EDSA cor. Shaw Boulevard, Mandaluyong
848 1046 Shangri-La Plaza
City

849 1031 Sta. Rosa 4 Brgy. Kanluran, Sta. Rosa, Laguna

850 936 Pilar, Bataan Gov. J. Linao Road, Panilao, Pilar, Bataan

851 1059 San Mateo 2 Gen. Luna Ave. Brgy. Ampid, San Mateo, Rizal

852 1183 Bacolod Capitol ** G/F of VSB Building, Lacson St., Bacolod City, Negros Occidental

853 1085 USC Main ** University GOLS Computer Shop Jonquera St. Cebu City

854 1197 Silay ** Rizal St., Silay City, Negros Occidental

855 1219 Pan-Asiatic ** Carlos Hidalgo Hi-way, Bacolod City, Negros Occidental

856 1072 Rainforest F.Cabahug, Ayala Access Road, cebu City

857 1063 Cuyapo ** Quezon Avenue, Poblacion, Cuyapo, Nueva Ecija

858 1103 Bacoor 3 ** Km 16, Aguinaldo Highway, Niog, Bacoor, Cavite

859 1018 Daet 2 Vinzon’s Avenue Daet, Camarines Norte

860 871 Almanza Uno 481 Real St., Alamanza 1, Las Piñas City (across SM Southmall)

861 1064 West Lake Med National Highway Brgy. Nueva, San Pedro Laguna

862 1074 New Sacred Heart Pharmacy ** B. Rodriguez St. Brgy. Sambag 2, Cebu City

863 1070 Sta. Rita, Guiguinto ** Mc Arthur Hiway, Sta.Rita, Guiguinto, Bulacan

864 1147 St. Joseph ** E-18th St., Brgy. East Bajac Bajac, Olongapo City

865 1129 Lumban Zamora St. Lumban, Laguna

866 1045 Mactan Newtown ** GF Retail 2- The Mactan Ocean Town, Lapu-Lapu City

867 970 Orani Rural Bank ** Poblacion, Brgy. Centro 1, Orani, Bataan

868 1041 Pureza 2 ** 350 Pureza St., Sta. Mesa, Manila

869 1137 Cintiley Residences Cintiley Residences located at Jose Abad Santos cor. P Algue St. Tondo, Manila

870 1108 Roosevelt Roosevelt St. cor PAT Senador St., Brgy. San Del Monte Quezon City
871 1144 Laoag U-belt #40 P. Gomez St., Brgy. 5, San Pedro Laoag City, Ilocos Norte

872 1207 Angeles 4 ** ENGIE KEI BLDG. McArthur Highway, Brgy. Pulong-Bulo, Angeles City

873 1104 Lucena 5 ML Tagarao St., cor. Abellariosa St., Lucena City

874 1155 Daet 3 ** Gov. Panotes Ave., Daet, Camarines Norte

875 1135 Calauag Poblacion Jose Rizal St. cor. Arguelles St., Calauag, Quezon

876 1125 Sto. Tomas ** Brgy. San Pedro, Sto. Tomas, Batangas

877 1152 SWU ** Brgy. Sambag II, Aznar St., Cebu City

878 1051 California Village Katipunan St. California Village Brgy. San Bartolome, Quezon City

879 1116 Biñan 5 Lot 1 Blk 2, Southville Commercial, Brgy. Sto. Tomas, Biñan City

880 1210 L’Fisher ** Lourdes C. Center Building 2, Lacson St. cor. 14th St., Bacolod City

881 1096 Libertad-Aurora ** 135 Antonio Arnaiz cor. Aurora St. Pasay City

882 1133 Malagasang Malagasang Road, Imus, Cavite

883 1089 Paoay Centro Marcelino Building Brgy. 9, San Pedro Paoay, Ilocos Norte

884 1073 MSI Lapu-Lapu G/F MSI Building Lopez-Jaena St., Upon, Lapu-Lapu City

885 1228 Barreto 2 ** #73 National Highway, Brgy. Baretto, Olongapo City

886 1013 Batac Colleges Batac College, Along Washington St., Batac City, Ilocos Norte

887 1161 La Trinidad 2 ** A-70 San Jose St. cor. Halsema Hi-way Poblacion, La Trinidad, Benguet

888 1175 Daraga ** Rizal St., Brgy. Sagpon, Daraga Albay

889 1113 CPI Ireneville ** Caltex Station Sucat Road cor. Doña Irenea St., Parañaque City

890 1126 The Persimmon Plus M.J. Cuenco Ave., Brgy. Mabolo, Cebu City, Cebu

891 1043 New York Residences ** 901 Leon Guinto St., cor., Estrada St., Malate

892 1127 USJR Basak ** Cebu South Road. Brgy. Basak-Pardo, Cebu City

893 1131 Bulakan, Bulacan ** Brgy. San Jose, Pobalcion, Bulakan, Bulacan

894 1157 Plaza Borromeo ** Ground Floor, Plaza Borromeo IV, P. Lopez St. Cebu City

895 1102 Concepcion Malabon ** General Luna St., Concepcion Uno, Malabon

896 1159 Baler 89 Baler St. West Avenue, Quezon City

897 1164 Bogo Poblacion ** R. Fernan St. Brgy. Carbon, Bogo City, Cebu

898 1249 Pandan ** Pandan Tabun, Angeles City, Pampanga

899 1246 Shell Dolores ** McArthur Highway, Dolores, San Fernando Pampanga

900 1032 San Pablo Palengke Lopez Jaena St. cor. Regidor St., San Pablo, Laguna
ANNEx - Store Directory

901 1079 Mabini Batangas ** F. Castillo Blvd., Poblacion, Mabini, Batangas

902 1247 EPSON Lima Tech ** Lima Technology Center, Lipa City, Batangas

903 1097 CPI Aurora Blvd. Lot 4 & 5 Blk 3 Aurora Blvd. cor. J.P. Rizal St. Brgy. Marilag Quezon City

904 1132 Luxur Place ** Luxur Place, Lacson st. cor., Magsaysay Ave., Bacolod City, Negros Occidental

905 1109 Cabugao ^^ National Highway, Brgy. Bonifacio Cabugao, Ilocos Sur

906 1186 Bagbag 633 Quirino Highway, Brgy. Bagbag, Novaliches, Quezon City

907 1253 Aliaga, N.E. ** Poblacion Road,Aliaga, Nueva Ecija

908 1170 Batac 2 Brgy. Caunayan, Batac City, Ilocos Norte

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909 1154 San Nicolas Madamba St. cor. Maharlika Highway, Brgy. 12, San Nicolas, Ilocos Norte

910 1015 Alpha Land Makati Mall 7232 Ayala Ave. Ext. cor. Malugay St. Makati City

911 1153 Transcom City ** Door 8, Lopue’s South Square Commercial Complex, Brgy. Alijis, Bacolod City

912 1220 Unisan Quezon Carillo St. cor. San Pedro St., Brgy. Poblacion, Quezon Ave., Unisan, Quezon

913 1171 V. Mapa Buenviaje St. cor. V. Mapa, Sta. Mesa, Manila City

914 1200 Sandoval Ave. A. Sandoval Avenue, Pasig City

915 1165 CTU G/F Cianna Residences, V. Guillas St. cor. P. Burgos St., Cebu City

916 1122 Montillano 2 249 Montillano St. Alabang, Muntinlupa

Delos Santos Medical Center 201 E. Rodriguez Bouleverd Sr. Boulevard, Brgy. Kalusugan,
917 1166 Delos Santos Hospital **
Quezon City

918 1204 Cebu Salinas Drive ** Alfonso and Sons Bldg., Salinas Drive, Lahug, Cebu City

919 1130 Binangonan 3 Brgy. Calumpang, Binangonan, Rizal

920 997 BF Almanza Aragon Bldg. 212 CRM ave. cor. Cardinal St., BF Almanza, Las Piñas City

921 979 Phoenix Bacoor Aguinaldo Highway cor. Hawaii St. Brgy. Salinas, Bacoor, Cavite

922 1189 PTT San Jose Abar 1st, Maharlika Highway, San Jose City, Nueva Ecija

923 1194 Rosario, La Union ** McArthur Highway, Brgy. Camp One, Rosario. La Union

924 1139 Villa Cristina #11 Villa Cristina Ave., Villa Cristina Subd., Pamplona Tres, Las Piñas City

925 1100 PTT Osmeña Estrella and Macabulos Sts., South Superhighway, Makati City

926 1181 Clark Star ** Clark Star Hotel, Balibago, Angeles City

927 1212 Bonuan ** Bonuan Gueset, Dagupan City, Pangasinan

928 1221 Sta Maria, Laguna Real Velasquez St. cor. Burgos St., Sta. Maria, Laguna

929 1229 Bacoor 4 Magdiwang Highway, Green Valley, Bacoor, Cavite

930 1149 Canossa, Lipa ** Brgy. Mataas na Lupa, Lipa City, Batangas

931 1188 San Jose 2 ** Brgy. Malasin,Maharlika Highway, San Jose City, Nueva Ecija

932 1042 Espeleta ** Avenida Rizal St. Espeleta, Imus, Cavite

933 1118 CPI J. Vargas Meralco Ave. cior. J. Vargas, Ortigas Pasig

934 1195 Agoncillo ** Poblacion, Agoncillo, Batangas

935 1141 New Cabalan ** Dinalupihan-Olongapo Road, Olongapo

936 1254 Polangui ** National Road, Brgy. Ubaliw, Polangui, Albay

937 1150 Baras J.P. Rizal St., Poblacion, Baras, Rizal

938 1259 Meralco Village ** Brgy. Lias, Marilao, Bulacan

939 1172 Danao Poblacion ** F. Ralota St., Poblacion, Danao City

940 1176 Bustos Sta. Cruz 505 Bustos St., Sta. Cruz, Manila

941 1119 CPI Hillcrest Shaw Blvd. cor. Hillcrest Drive, Pasig City

942 1123 Greenfield IT Greenfield District, I.T. Building, GF,Unit no. CS01-03

943 1140 Regalado Hive Regalado HiveCommercial Center, Regalado Avenue, Fairview, Quezon City

944 1177 Pureza 3 ** Pureza cor. Magsaysay Boulevard, Sta. Mesa, Manila

945 1198 S.H. Loyola Lacson Ave. and Loyola Street, Sampaloc, Manila

946 1027 Candon Samonte Road, Candon City, Ilocos Sur


947 1190 San Jacinto ** Manaoag Road-San Jacinto Road. San Jacinto, Pangasinan

948 1179 Urdaneta 4 ** 103 Alexander St., Urdaneta City, Pangasinan

949 1209 Guadalupe Cebu ** 2211 V. Rama Avenue, Guadalupe Cebu City

950 1312 Dolores ** McArthur Highway, Brgy. Dolores, San Fernando, Pampanga

951 973 LP District Hospital G/F of 387-389 Padre Diego Cera Ave., Brgy. Pulang Lupa Las Piñas City

952 1182 UNO-R Lizares St., Bacolod City, Negros Occidental

953 1215 Bacolod Doctors ** G/F McMetroplex B.S Aquino Drive, Bacolod City

954 1256 Caltex Bacao (EFZA) ** Centennial Highway, Brgy. Bacao, General Trias, Cavite

955 1299 Caltex Lipa Balintawak ** Caltex Gas Station, Brgy. Balintawak, Lipa City, Batangas

956 1061 Kingspoint ** Kingspoint St. cor Quirino Highway, Novaliches, Quezon City

957 1148 San Pascual 2 ** Poblacion Public Market,San Pascual, Batangas City

958 1106 Tayabas 2 Brgy. Angeles, Lucena-Tayabas Road, Tayabas City

959 1252 Sto. Domingo, NE ** Quezon-Sto. Domingo Road, Sto. Domingo, Nueva Ecija

960 1145 Caloocan HS 33 West Macario Asisitio Ave., Grace Park, Caloocan City

961 1218 Tabunok Mang Tinapay, Rafael Rabaya cor. Cebu South Road, Tabunok, Talisay City

962 1261 Sipocot ** Lot 1-I San Juan Ave.,North Centro, Sipocot, Camarines Sur

963 1173 Labangon ** Salvador St. cor. Katipunan St., Labangon, Cebu City

964 1217 i1 Building ** i1 Building GF Unit A107, Asiatown IT Park, Apas, Cebu City

965 902 Sitio Gitna #986 Gen. Luis St. Cor P. Dela Cruz St. Brgy. Kaybiga, Caloocan City

966 1233 South of Market (SOMA) Ground Floor South of Market Condominium, Global City, Taguig

967 985 Capitol Medical Center ** Scout Magbanua, Timog Quezon City

968 1142 Tambo ** 0195 cor. Delos Santos St., Quirino Ave., Brgy. Tambo, Parañaque City

969 1162 LP College Blk 3 Lot 2 Rose Ave. cor. Pilar Rd., Almanza Uno, Las Piñas City

970 1251 Alabang NB Exit East Service Road, Alabang, Muntinlupa City

971 1367 Assumption Iloilo ** Vidal Building, General Luna cor. Quezon St., Brgy Sampaguita, Iloilo City

972 1185 Uptown Center ** 56-58 Madison St., Uptown Bldg., Mandaluyong City

973 1191 Minglanilla Poblacion ** Ward IV, Minglanilla, Cebu City

974 1203 Lapu-Lapu Arcade ** Arcade Quezon National Highway, Lapu-Lapu

975 1071 Saver’s Plaza ** Unit 1 & 2 Savers Plaza, Basak-Maragondon Road, Mactan, Lapu-Lapu

976 1121 Mauban ** Municipality of Mauban, Province of Quezon


ANNEx - Store Directory

977 1101 Ok Plaza Victory Liner Compound, Monumento, Caloocan

978 1216 La Salle Bacolod ** La Salle Ave., Bacolod Negros Occidental in front of Gate 1 University of La Salle

979 992 RL Mall G/F 001 Isquare Mall, Quirino Highway, Brgy. Gulod, Novaliches

980 1206 WCC Caloocan Willian Shaw St., Caloocan City

981 1226 Talisay ** Brgy. Poblacion, Talisay, Batangas

982 1290 Natividad Lopez ** G/F of CCI Building, 1091 Natividad Lopez St., Ermita, Manila

983 1267 Carcar City ** Barili St., Carcar City, Rotunda, Cebu

984 1241 Caltex San Pablo Rizal Ave., San Pablo City, Laguna

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985 1293 Rosario 3 Purisima Building, Marceilla St., Ligtong III, Rosario, Cavite

986 1376 La Fiesta ** G/F La Fiesta Hotel, MH Del Pilar Iloilo R-1, Iloilo City

987 1248 P. Noval 1037, 1041, 1039, 1043 P. Noval St., Sampaloc, Manila

988 1156 RP Gulod Marianito St., Brgy. Gulod, Novaliches, Quezon City

989 1180 Bagong Silang ^^ Langit Road, Bagong Silang, Caloocan City

990 1255 Ocampo Barrio Poblacion, Municipality of Ocampo, Province of Camarines Sur

991 1250 Sta. Ignacia ** Romulo Highway, Poblacion, Sta. Ignacia, Tarlac

Unit G06 RSB Corporate Center 26th St cor 5th Ave., Bonifacio South, Bonifacio Global City,
992 1311 RCBC The Fort **
Taguig City

993 1262 CPI C5 Ugong Barrio Ugong, Pasig City

994 1238 MPT Suites ** Kalayaan Ave. cor. P. Burgos St., Bel-Air, Makati City

995 1270 Mandaue City Hall ** Ground Floor, The Ellian Tower, A. Mabini St. Mandaue City

996 1237 Manggahan Industrial Park Amang Rodriguez Ave., Manggahan, Pasig City

997 1275 Legazpi 5 Imperial St., Brgy. Bitano, Legazpi City

998 1239 Quiapo 2 374 Quezon Ave., Quiapo,Metro Manila

999 1266 Poblacion Moalboal Poblacion East, Moalbaul, Cebu

1000 1291 Macalelon La Purisima St. Brgy. Poblacion, Macalelon, Quezon

1001 1305 Mulanay Quezon San Carlos St., Brgy. 3 Poblacion, Mulanay, Quezon

1002 1330 Legazpi 3 ** Magallanes St., Brgy. San Rafael, Legazpi, Albay

1003 1244 Katipunan 2 ** Katipunan Ave. cor. Esteban Abada, Quezon City

1004 1362 Pozorrubio ** Brgy. Poblacion, Pozorrubio, Pangasinan

1005 1242 Angono 4 P. Tolentino, San Isidro, Angono, Rizal

1006 1264 Square One ** G/F, Sqaure 1, Highway Mandaue cor. Singson Village, Tipolo, Mandaue City, Cebu

1007 1288 Jetti Dahlia Dahlia Ave. cor. Chestnut St., West Fairview, Quezon City

1008 1296 Biñan 6 Brgy. San Francisco, Biñan, Laguna

1009 1223 Forbeswood Parklane ** Unit 6, The Parklane Strip, Rizal Drive, FBGC, Taguig

1010 1236 Pagbilao Poblacion ** J.P. Rizal St. cor. Gloria St., Brgy. Poblacion, Pagbilao, Quezon Province

1011 1320 CPI Tayuman ** 1868 A.H. Lacson cor. P. Guevarra Sta. Cruz, Manila

1012 1327 Silang 2 Bo. Of San Miguel 1, Silang, Cavite

1013 1076 Fortunata MTF Building located at Dr. A. Santos Ave., Sucat, Parañaque

1014 1158 Camarin 2 Zapote St. Franglo Building Area D, Camarin, Caloocan City

1015 1276 Guinobatan ** Rizal St., Brgy. Poblacion, Guinobatan, Albay

1016 1196 Sta. Rosa 6 ** Olympia Subd., Brgy. Labas, Sta. Rosa City, Laguna

1017 1263 Talisay Negros ** Hi-way Mabini St. cor. Bonifacio St., Talisay, Negros Occidental

1018 1322 Royal Gold Plaza ** G/F Royal Gold Plaza, AC Cortes Avenue, Guizo, Mandaue City

1019 1232 Wynn Plaza 1674 Leon Guinto, Malate, Manila

1020 1235 11th Avenue ** M.H. Del Pilar St. cor. 11th Ave., Grace Park, Caloocan City

1021 1260 Sta. Ana- Market Plaza 2235 M. Roxas cor. Suter Sts., Sta. Ana, Manila

1022 1163 Francisco Homes ** Blk. 9 Lot 1, Ph-GIII, Francisco Homes, City of San Jose Del Monte, Bulacan
1023 1231 Camarin 3 Purok 4. San Isidro, Kiko Camarin, North Caloocan City

1024 1307 Naic 3 ** Bo. Of Timalan, Naic, Cavite

1025 1436 Sta. Cruz, Zambales ** National Road cor. Misola St., Poblacion, Santa Cruz, Zambales

1026 1110 Tropicana Garden ** Tropicana Garden City, Sumulong Highway, Marikina City

1027 1112 Maceda Maceda St. near cor. España, Sampaloc, Manila

1028 1258 Farmers Plaza 2 0085, The New Farmers Plaza, G/F Arcade, Araneta, Cubao, Quezon City

1029 1315 Escriva GF Amber Square Escriva Drive Ortigas Center, Pasig City

1030 1280 Caltex Regalado Commonwealth Ave. cor. Regalado, Fairview, Quezon City

1031 1410 Tagaytay 5 ** Maharlika West, Tagaytay City, Cavite

1032 1323 City Times Square ** A-103 & 104, Ground Floor, City Time Square, Brgy. Subangdaku, NRA, Mandaue City, Cebu

1033 1336 FEU-Paredes Unit GF of Don Lorenzo Bldg. 889 P. Paredes St., Sampaloc, Manila

1034 1136 Rizal, NE ** Poblacion Sur, Rizal, Nueva Ecija

1035 1382 Rosales ** Brgy. Pobalcion, Rosales, Pangasinan

1036 1419 Malabon Poblacion ** J.P. Rizal Ave., Brgy. San Agustin, Malabon City

1037 1128 ETON Cyberpod 3 Edsa cor. Quezon Ave., Quezon City

1038 1388 Naga Cebu ** Leah’s Square cor. Mejia St. & National Highway, West Poblacion, Naga City, Cebu

1039 1205 Liloan Poblacion ** Poblacion Liloan, Cebu City

1040 1366 Dapitan 2 Unit 101 at Golden Emerald Mansion, 1513 Dapitan St. Sampaloc, Manila

1041 1227 Harmony Hills ** Harmony Hills Subd., Muzon, SJDM, Bulacan

1042 1370 WVCST- Burgos ** 50 Burgos St. La Paz, Iloilo

1043 1039 Bangar ** Bangar Poblacion, Bangar, La Union

1044 1335 Baesa ** Quirino Highway , Balong-Bato, Balintawak, Quezon City

Unit Nos. 1 & 2, GF-Retail row, Freedom Plaza at Liberty Center, Shaw Blvd., Mandaluyong
1045 1353 Liberty Shaw
City

1046 1184 Atherton ^^ Don Mariano Marcos Highway cor. Atherton, North Fairview, Quezon City

1047 1329 Alfonso 2 Mangas St., Brgy. Luksuhin, Alfonso, Cavite

1048 1343 Suntree Tower #13 Meralco Ave. #27 Sapphire Road, San Antonio, Ortigas Center, Pasig City

1049 1342 BSA Twin Towers BSA Twin Tower Bank Drive, Ortigas Center, Mandaluyong City

1050 1300 San Pedro 6 26 Brgy. Riverside, San Pedro, Laguna

Unit 102 Ground Floor, 139 Corporate Center (Antel Towr), Valero St. cor. Valero Access
1051 1302 139 Corporate Center ^^
Road, Salcedo Village, Makati City

1052 1350 Sandra Mall ** Sandra Mall, Angeles-Porac-Floridablanca-Dinalupihan Road, cor. Sandra St., Angeles city
ANNEx - Store Directory

1053 1387 Zerenity Suites San Miguel Road, Brgy. Apas, Cebu City

1054 1243 Golden Acres ** Blk. 1 Lot 8, Marcos Alvarez Ave., Golden Acre, Talon 1, Las Piñas City

1055 1338 Prince Plaza 2 G6 Prince Plaza 2 Condominium Building , Dela Rosa St., Legazpi Village, Makati City

1056 1332 Navotas 2 Noval St. cor. E. Naval St., Brgy. San Jose, Navotas City

1057 1339 Laoag 2 Brgy. Of No. 9, Sta. Angela, Rurban, Laoag City, Ilocos Norte

1058 1328 Ternate H. Ventura cor. Sto. Niño, Brgy. Poblacion 2, Ternate, Cavite

1059 1285 Eusebio Arcade Hernaez St. cor. Araneta Ave., Bacolod City, Negros Occidental

1060 1303 N. Garcia 2 ** N. Garcia St. cor. Milagros St., Brgy. Valenzuela, Makati City

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1061 1265 CDH ** Brgy. Capitol, City of Cebu

1062 1321 Punta Princesa ** Ground Floor, Miramontes Building, F. Llamas St., Punta Princesa, Cebu City

1063 1377 Tune Hotel QC 100 Lot 8 Timog Ave., Quezon City

1064 1424 Maligaya Park 4 Maligaya Drive, Brgy. Pasong Putik, Quezon City

1065 1284 Bacolod Regional Hospital ** N & M Pharmacy, Lacson St., Bacolod City

1066 1301 Orion Bataan ** Brgy. Arellano, Orion, Bataan

1067 1240 LSPU San Pablo ** Brgy. Del Remedios, San Pablo City, Laguna

1068 1383 Uptown Place General Luna St., Iloilo City

1069 1359 Alcala National Road, Alcala Poblacion, Pangasinan

1070 1368 Injap Tower ** Cor. Divrsion Road and Jaladoni St., Mandurrio, Iloilo City

1071 1371 La Paz Plaza ** Huervana St., cor. Divinagracia District of La Paz, Iloilo City

1072 1386 Binangonan 4 Brgy. Tayuman, Binangonan, Rizal

1073 1287 Candelaria Poblacion ** J.P. Rizal St. cor. Valle St., Candelaria, Quezon

1074 1317 Admiral ** G/F Citywalk Building, Admiral Road, Talon 3, Las Piñas City

1075 1340 Evangelista 2 GF 1837 Evangelista St. cor. Dallas St., Brgy. Pio Del Pilar, Makati City

1076 1345 Kamias 2 No. 1 Kamias Road, Quezon City

1077 1222 BF Homes Aguirre #21 Aguirre Ave., Bf Homes, Parañaque City

1078 1234 Adriatico Courtyard 1917 Adriatico St. Malate, Manila

1079 1325 Wilson Abad Santos 3 Jose Abad Santos St., Brgy. Little Baguio, San Juan City

1080 1337 Mayapyap Mayapyap Sur, Cabanatuan City, Nueva Ecija

1081 1341 AIC Empire Sapphire AIC Burgundy Empire Tower, Sapphire Road, Ortigas Center, Pasig City

1082 1378 Royal Plaza 648 Remedios St., Malate, Manila

1083 1421 Bigte ** Bigte, Norzagaray, Bulacan

1084 1351 Morong Poblacion 65 Tomas Claudio St. Brgy. San Juan, Morong, Rizal

1085 1245 Katipunan 3 ** Dela Rosa Loyola Heights, Balara, Quezon City

1086 1086 Solemare ** Space 15 Tower A Solemare Parksuites located at Brado Ave., Parañaque City

1087 1398 Mactan Doctors ** G/F, JS Realty, Washington St. cor. Cagudoy St., Lapu-Lapu City

1088 1151 Adriatico Garden Adriatico St. Malate, Manila

1089 1214 Bago City ** Gen. Luna St., Poblacion, Bago City, Negros Occidental

1090 1304 Trece 4 Brgy. Luciano, Trece Martirez, Cavite

1091 1314 Sta. Maria Highway ** McArthur Highway, Brgy. Danuman West, Sta. Maria, Ilocos Sur

1092 1385 Marco Polo ** Meralco Ave. and Sapphire Road, Ortigas Center, Pasig City

1093 1356 Lucena Diversion ** Brgy. Gulang Gulang, Lucena City, Quezon

1094 1375 Fuente Circle ** Door 5, G/F Ybañez Bldg., Fuente Osmeña Blvd., Cebu City

1095 1331 BDO Greenhills G/F BDO Greenhills-Ortigas Building 2, Ortigas cor. Roosevelt Ave. Greenhills, San Juan City

1096 1405 San Juan Batangas ** General Luna St.,San Juan, Batangas

1097 1192 Red Square Bagbaguin Road cor. P. Jacinto St., Caloocan City

1098 1257 Manhattan Parkview Space #00017, G/F Manhattan Parkview, Araneta Center, Quezon City
1099 1224 V Corporate Center ^^ 125 LP Leviste, Salcedo Village, Makati City

1100 1279 The Beacon Unit 2B The Beacon cor. Chino Roces and Armaiz Ave. San Lorenzo Village, Makati City

1101 1439 San Beda ** 1st Street, Dr. Concepcion Aguila, San Miguel, Manila

1102 1491 Bel-Air Soho ** Unit G103, Bel-Air Soho, 45 Polaris cor. Badajos St. Brgy. Poblacion, Makati City

1103 1485 Tagaytay Highlands ** Tagaytay Highlands, Tagaytay, Cavite

1104 1412 Tanza Bagtas Tanza-Trece Road, Brgy. Bagtas, Tanza, Cavite

1105 1358 Nagcarlan Brgy. Poblacion 1, Nagcarlan, Laguna

1106 1319 Trece 3 166 Trece-Indang Road, Brgy. Luciano, Trece Martirez City

1107 1174 Danao Mitsumi ** Central Nautica Highway, Sabang, Danao City, Cebu

1108 1278 ETON Greenbelt Parkview Unit B, Eton Greenbelt Parkview, Gamboa St., Legaspi Village, Makati City

1109 1390 Cordova ** Poblacion Cordova Cebu

1110 1380 Lower Bicutan 2 ** #1 M.L Quezon St. Lower Bicutan, Taguig City

1111 1384 Princeton Residences Aurora Blvd. . Quezon City

1112 1413 Tanza Amaya Amaya Road, Brgy. Amaya-I, Tanza, Cavite

1113 1225 Laurel Batangas ** Poblacion 3, Laurel, Batangas

1114 1437 Manila Sanitarium San Juan St., Pasay City

1115 1281 Bayfront Hotel ** Kaoshiung St., North Reclamation Area, Cebu City

1116 1450 Goa ** San Jose St. Goa, Camarines Sur

1117 1473 Magalang Avenue ** McArthur Highway cor. Magalang Ave., Angeles City, Pampanga

1347 Sangandaan (Tandang Sora


1118 369 Tandang Sora Extension, Brgy. Sangandaan, Quezon City
Ext.) **

1119 1392 Kabankalan ** Guanzon St., Kabankalan City, Negros Occidental

1120 1168 ACT Tower 135 H.V. Dela Costa St., Makati City

1121 1561 Bauan 3 ** J.P. Rizal St. cor. Kapitan Ponso St., Poblacion 2, Bauan, Batangas

1122 1447 Daang-Batang ** 15303 cor. Daang Batang St., Rodriguez Ave., San Agustin, Parañaque City

1123 1272 Sacred Heart Hospital ** Ground Floor, TSC Property Holdings, Inc., Urgello St., Cebu City

1124 1334 Iriga 2 ** San Francisco, Iriga City, Camarines Sur

1125 1404 Amadeo Cavite 119 A. Mabini St., Amadeo, Cavite

1126 1269 Shaw MRT Greenfield District Station, Second Floor Concourse Southbound CS-2

1127 1472 Bacnotan ** Nationa Highway Poblacion, Bacnotan, La Union

1128 1409 Batangas 5 ** G/F, Rentable 4, Cham Building, Brgy. Balagtas, Batangas City, Batangas
ANNEx - Store Directory

1129 1364 Unioil Kalayaan ** Unioil Kalayaan Station, Malingap St., Quezon City

1130 1407 Mamatid 2 ** Brgy. Mamatid, Cabuyao City, Laguna

1131 1539 Baloc, N.E. ** Cagayan Valley Rd., Brgy. Baloc, Nueva Ecija

1132 1298 CEO Flats 27 Canopus cor. Jupiter Sts., Bel Air Village, Makati City

1133 1611 Blue Residences Katipunan Ave. cor. Aurora Blvd., Quezon City

1134 1268 Sta. Lucia Residenze Imelda Ave. cor. Marcos Highway, Cainta, Rizal

1135 1349 WPAZ 349 JP Rizal St. Sta. Elena, Marikina City

1136 1352 Betterliving 5 Unit 1-D Benrosi Plaza Condominium, Fastrack St. Brgy. Moonwalk, Parañaque City

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1137 1442 CAVSU Indang Cavite State University, Indang-Trece Martires Road, Indang, Cavite

1138 1443 M Place Panay Ave., South Triangle, Quezon City

1139 1397 Two Quad 2Quad Building, Cebu Business Park, Cebu City

1140 1395 A Square Anonas #2 Anonas St. cor. Aurora Blvd., Project 2, Cubao, Quezon City

1141 1515 Plaza Hotel, La Union ** Brgy. Poblacion, San Fernando City, La Union

1142 1399 Argao 839 Cor. Dr. T.S. Kintanar St. & National Highway, Argao, Cebu

1143 1418 Salcedo 2 159 Salcedo St., Legazpi Village, Makati City

1144 1577 Cabiao, N.E. ** Pobalcion Road, Cabiao, Nueva Ecija

1145 1308 Paliparan 3 ** Brgy. Paliparan, Dasmariñas, Cavite

1146 1505 Batangas 6 ** P. Prieto St. Batangas City

1147 1510 The Strip Meralco The Strip along Ortigas Ave., Pasig City

1148 1549 Shell San Roque ** Brgy. San Roque, San Pablo City, Laguna

1149 1467 CVSU Rosario Gen. Trias Drive, Brgy. Tejeros Convention, Rosario, Cavite

1150 1286 Sum-Ag ** Araneta Ave. cor Sum-Ag Abuanan Rd., Brgy. Sum-Ag, Bacolod City, Negros Occidental

1151 1557 Mapandan ** Pandan Ave Poblacion, Mapandan, Pangasinan

1152 1562 Lemery 3 ** National Road,Brgy. Malinis, Lemery, Batangas

1153 1402 Talamban Proper ** Dr. J.B. Vizcayno Bldg., Talamban, Cebu City

1154 1513 University of Manila Ventura Residences, 646-B, M.V. Delos Santos, Sampaloc, Manila

1155 1363 Kaybiga Lot 24 Blk 32 Gen. Luis St., Kaybiga Road, Caloocan City

1156 1400 Guadalupe Church ** V. Rama Avenue, Guadalupe, Cebu City

1157 1408 G. Tuazon 3 ** Lot 1 & 2, No. 2000 G. Tuazon St. cor. Masbate St., Balic Balic, Sampaloc, Manila

1158 1435 8 Adriatico Padre Faura St., cor. J. Bocobo St., Manila City

1159 1453 Fly Ace-Coral Way Fly Ace Corporate Center, 13 Coral Way, Central Business Park, Pasay City

1160 1471 Sual National Highway, Brgy. Poblacion, Sual, Pangasinan

1161 1498 Biñan Doctors Brgy. Platero, Biñan City, Laguna

1162 1501 Juan Luna 788-790 Juan Luna St., Binondo, Manila

Unit 3 Kornerwalk Commercial Center, Olongapo-Gapan Road, San Antonio, Guagua,


1163 1520 Kornerwalk **
Pampanga

1164 1608 Golden Town ** Brgy. Maduya, Carmona, Cavite

1165 1486 Beata Pandacan Unit A GF, The Streamline Plaza Building, Baeta, Pandacan, Manila

1166 1273 Tunasan ** Km 29 National Highway, Tunasan, Muntinlupa City

1167 1401 University of Iloilo ** Rizal Street, Iloilo City

1168 1428 Boton (PTT) ** Gobstopper Area, Argonaut Highway, Subic Bay Freeport Zone, Pampanga

1169 1482 San Agustin Iloilo ** Maria Clara Ave., cor., Jalandoni St., Iloilo City

1170 1310 Seaoil P. Tuazon ** Seaoil Station, EDSA cor. P. Tuazon St., Cubao, Quezon City

1171 1201 LB City Hall ** Economic Garden, Timugan, Los Baños , Laguna

1172 1532 PUP Teresa Aguida Building #265 Teresa St., Sta Mesa, Manila

1173 1077 E-Luxury One ** 5077 P. Burgos st. Poblacion, Makati City

1174 1484 Mangatarem ** Along National Highway Road, Brgy. Poblacion, Mangatarem, Pangasinan
1175 1545 Wind Residences GF Wind Residences, Tagaytay-Nasugbi Highway, Tagaytay City

76 Malolos Ave. cor Gregorio de Jesus St., Bagong Barrio, Balintawak Subdivision, Caloocan
1176 1306 Bagong Barrio ^^
City

1177 1448 CPI Congressional Congressional Ave. cor. Cagayan Ave., Brgy. R. Magsaysay, Quezon City

1178 1689 CPI OG Road ** Caltex, Olongapo-Gapan, Road, San Fernando, Pampanga

1179 1516 Sacred Heart Lucena ** 12 Merchan St., Brgy. 11, Lucena City, Quezon

1180 1530 Gateway Tower ** Space #5002, Gateway Tower, Araneta Center, Quezon City

1181 1452 Sauyo 32 Sauyo Road, Brgy. Sauyo, Novaliches, Quezon City

1182 1502 CPI E. Rod E. Rodriguez Ave. cor. Sunnyside Drive, Quezon City

1183 1292 Ugong, Valenzuela ^^ Brgy. Ugong, Valenzuela City

1184 1438 Taguig City Hall ** Gen. Luna St. cor. M. Santos St., Brgy. Tuktukan, Taguig City

Tower 1A-Unit No . FC1 CU007 The Linear, Mayapis, Yakal and Malugay Sts., San Antonio
1185 1469 Linear Makati
Village, Makati City

1186 1529 City Oil Old Sta. Mesa 4872 Old Sta. Mesa Rd.,Sampaloc, Manila

1187 1641 San Pedro 7 ** Brgy. San Antonio, San Pedro City, Laguna

1188 1490 University Tower Commercial F, G/F, University Tower Malate, Pedro Gil, Malate, Manila

1189 1283 CPI Opon ** Caltex Opon, ML Quezon cor. Sangi Road, lapu-Lapu City

1190 1481 Legarda-Arlegui ** 504 Nepomucemo St. (Formerly Tanduay St.) cor. Arlegui St., Quiapo, Manila

1191 1518 St. Joseph San Pedro ** St. Joseph Village 10, Brgy. Langgam, San Pedro City, Laguna

1192 1417 Sgt. Bumatay ** #717 Sgt. Bumatay cor., Katarungan St., Brgy. Plainview, Mandaluyong City

1193 1596 Canlubang Terminal Jose Yulo Sr Ave., Canlubang, Laguna City

1194 1616 Paete Poblacion #20-5 J.P. Rizal St., Paete, Laguna

1195 1446 Fatima 2 32 McAthur Highway, Brgy. Marulas, Valenzuela City

1196 1463 Gaisano Cordova G/F, Unit A1-A2, Gaisano Grand Mall Cordova, Cebu

1197 1508 Somerset Olympia Upper Ground Floor, Somerset Olympia Makati, Makati Ave. cor. Sto. Tomas St., Makati City

1198 1564 West Negros University ** G/F SMEI Bldg., Burgos Ave., Bacolod City, Negros Occidental

1199 1026 Sumacab Este ** Maharlika Highway, Brgy. Sumacab Este, Cabanatuan, Nueva Ecija

1200 1434 Chimes Square Congressional Extn. Cor. Kalaw, Mira Nila Homes, Brgy. Pasong Tamo, Quezon City

1201 1449 Balamban Sto. Niño, Balamban, Cebu

1202 1625 Western Bicutan ** AP Housing, NRT ave cor., C-5 road, Taguig City

1203 1416 Eton Baypark Manila Unit 1 Eton Baypark Manila, Roxas Blvd. cor. Kalaw St., Manila

1204 1451 Capitol Drive ** 16A Capitol Hills Drive Diliman, Quezon Cty
ANNEx - Store Directory

1205 1612 Goa 2 Melba Bldg., San Juan Bautista St., Goa, Camarines Sur

1206 1711 Tabaco ** GF & 2nd Floor of the Centerpoint Bldg., Ziga Ave., Tabaco City, Albay

1207 1429 Botolan, Zambales ** Paco, Botolan, Zambales

1208 1488 Tambo Exit, Lipa Tambo Exit, Brgy. Tambo, Lipa City, Batangas

1209 1687 Lipa San Sebastian ** Brgy. Mataas na Lupa, Lipa, Batangas

1210 1414 Villasis ** Brgy. Poblacion, Villasis, Pangasinan

1211 1552 Narciso Avenue ** 140 Narciso St., Josefa Subd., Malabanais, Angeles City, Pampanga

1212 1631 CPI EPSA ** Pulung Cacutud, Angeles City, Pampanga

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84
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1213 1642 Waltermart Makiling Brgy. Makiling, Calamba, Laguna

1214 1464 Cebu San Nicolas ** GF Antigua Bldg. cor. B. Aranas St. cor. T. Abellas St., Cebu City

1215 1500 Bagong Silang 2 Langit Road cor. St. Joseph St., Bagong Silang, Caloocan City

1216 1578 San Leonardo, N.E. ** Brgy. Poblacion, San Leonardo, Nueva Ecija

1217 1440 Phoenix Kalayaan Brgy. Panamitan, Kawit, Cavite

1218 1297 Dita 2 ** Brgy. Dita, Sta. Rosa, Laguna

1219 1433 Vicas Caloocan Congressional Road Ext. Vicas, North Caloocan City

1220 1541 Badoc Highway National Highway, Brgy. 9 Paltit, Badoc, Ilocos Norte

1221 1466 Lorex Ave. 1000 Lorex St., Tañada Subd., Valenzuela

1222 1632 Malabon 3 GF of Abacon Bldg., Pampano St., Brgy. Longos, Malabon City

1223 1355 San Mateo 3 #22 Gen. Luna St., Brgy. Maly, San Mateo, Rizal

1224 1568 Tisa ** Katipunan Street, Tisa, Labangon, Cebu City

1225 1534 PTT Lucena ** Maharlika Highway, Brgy. Bacohan, Lucena City, Quezon

1226 1595 Ligas Bacoor Brgy. Ligas, Bacoor, Cavite

1227 1621 Kalayaan ** Jacinto Residences, 1223 General E. Jacinto St. cor. Kalayaa Ave., Makati City

1228 1499 Sanciangco Sanciangco St. cor. Panganiban St., Pahina Central, Cebu City

1229 1531 Paco 3 Pako Bldg., Pedro Gil cor. A. Linao and Gen. Luna St. Manila

1230 1605 Sta. Maria, Pangasinan ** National Highway Poblacion East, Sta. Maria, Pangasinan

1231 1348 Calumpang Nicanor Roxas St. cor. Manuel Roxas St., Brgy. Calumpang, Marikina City

1232 1465 Rephil Pasay Rephil Station. F.B. Harrison cor. EDSA, Pasay City

1233 1504 PKI Lipa Brgy. Inosluban, Lipa City, Batangas

1234 1517 Biñan Technopark ^^ Brgy. Timboa, Biñan City, Laguna

1235 1558 Abucay, Bataan Abucay, Bataan

1236 1360 Santolan Malabon Rodriguez St. cor E. Martin St., Brgy. Santulan, Malabon City

1237 1477 Alta Tierra ** Alta Minimart, Phase V, Alta Tierra Village, Tabuc Suba, Jaro, Iloilo

1238 1497 Greenbelt Madison Greenbelt Madisons, Makati

1239 1623 Francesca Tower C-1, G/F, Francesca Tower- EDSA Ave. cor. Scout Borromeo St., Quezon City

1240 1372 JM Basa ** Villanueva International Bldg., J.M. Basa St. cor. Aldeguer St., Iloilo City

1241 1470 Sta. Lucia Mall Marcos Highway cor. Felix Ave., Cainta, Rizal

1242 1594 Dela Costa Homes VP Building Dela Costa Homes, Quirino Highway, Sacred Village, Caloocan City

1243 1487 EDSA M. Dela Cruz EDSA cor. M. Dela Cruz, Pasay City

1244 1167 Samson Road ** No. 90 & 92 A. Mabini St., Sangandaan, Caloocan City

1245 1271 UC Main ** G/F, Coast Pacific Downtown Center, Sanciangko St., Cebu City

1246 1282 Barili National Highway,Poblacion, Barili, Cebu

1247 1324 Doña Aurora-E. Rod. ** 78-A E. Rodriguez cor. Plaridel St. Quezon City

1248 1553 CPI Sauyo Sauyo Road, Brgy. Sauyo, Quezon City

1249 1559 Bagong Silang 3 Blk 15 Lt 12 Package 6 Phase X, Bagong Silang Project, Caloocan City

1250 1614 Dalan Ledesma ** GF Gloria 168 Bldg. Dalan Ledesma St., Iloilo City
1251 1474 Kabankalan Plaza G/F Kho-Alvarez Bldg., Guanzon St. cor. Rizal St., Kabankalan City, Negros Occidental

1252 1369 USC Talamban ** In front of USC TC Nasipit, Talamban, Cebu City

1253 1476 Sta. Barbara Iloilo ** Columba Senupe Building, National Highway cor. Roosevelt St., Sta. Barbara, Iloilo

1254 1525 Poblacion Toledo ** D. Macapagal Highway, Toledo City, Cebu

1255 1610 Wakas Bocaue ** Wakas Bocaue, Bulacan

1256 1739 Tungkong Mangga ** Nolasco Bldg., Quirino Highway, Brgy. Tungkong Mangga, SJDM, Bulacan

1257 1667 PTT Mexico ** PTT Service Station, OG Road, Jose Abad Santos, Brgy. Parian Sto cristo, Mexico, Pampanga

1258 1361 Rancho 41 Lilac St. Hacienda Heights, Concepcon 2, Marikina City

Lot 1 Blk 9 Greenwoods Ave. cor. Pine St., Phase I-E Area 2,Greenwoods Executive Village,
1259 1411 Greenwoods **
Cainta, Rizal

1260 1620 Metro Oil Roosevelt ** Metro Oil Roosevelt, Roosevelt cor. Sto. Niño St., Quezon City

1261 1731 San Luis Pob., Batangas ** Brgy. Poblacion, San Luis, Batangas

1262 1565 V.A. Rufino Unit G02, GF, Angelus Plaza, Makati City

1263 1658 Sta. Rita, Olongapo ** JP Rizal Ave., West Bajac-Bajac, Olongapo City

1264 1391 Shaw Center Mall ** Unit 6 548 Shaw Blvd., Mandaluyong City

1265 1544 Gilmore ** Unit C, Gilmore, Commercial Plaza, 10 Gilmore Ave., Brgy. Valencia, New Manila, Quezon City

1266 1634 Mary Johnston Hospital 1221 Juan Nolasco St., Tondo, Manila

1267 1607 Amethyst Drive Unit 102 Pacific Place Condominium, Pearl Drive, Ortigas Center, Pasig City

1268 1599 Ongpin 2 640 Ongpin St., China Town, Binondo, Manila

1269 1666 Molino 6 Blk. 3, Lot 9, Ph. 1, Basa St. cor. Avenida Rizal St., Molino 5, Bacoor, Cavite

1270 1460 Carcar 2 N. Bacalso National Highway, Poblacion, Carcar, Cebu

1271 1483 La Carlota Negros ** Guerrea St., cor. YunqueSt., La Carlota City, Negros Occidental

1272 1524 Tabunok 2 ** Sangi, Tabunok, Talisay City, Cebu

1273 1650 LRT Pureza Unit A, GF, The Station Point, 3299 R. Magsaysay Blvd. cor. Maganda St., Sta. Mesa, Manila

1274 1673 Vellagio Tower Unit 102 & 103, G/F, Vallegio Tower, 2011 Pres. Quirino Ave. cor. Leon Guinto St., Manila

1275 1646 CPI Taft Brgy. 97, 2724 Taft Ave. Extn., Pasay City

1276 1475 Zerrudo Complex ** Zerrudo Commercial Complex, E. Lopez St., Brgy. Montinola, District of Jaro, Iloilo City

Cebuana Lhuillier, BS Aquino Drive cor. Ylac St., Brgy. Villamonte, Bacolod City, Negros
1277 1393 Villamonte **
Occidental

1278 1657 Fatima Annex ** Fatima Ave. cor Knight of Columbus St., Brgy. Marulas, Valenzuela City

1279 1496 CPI Gulang Gulang ** Brgy. Gulang Gulang, Lucena City, Quezon

1280 1683 Calamba 8 ** Chipeco Ave., Llamas Subd., Brgy. 3, Calamba City, Laguna
ANNEx - Store Directory

1281 1432 Tayud Capulay Market, Bagong Daan Road, Tayud, Liloan, Cebu

1282 1604 San Francisco, Gen. Trias Arnaldo Highway, Brgy. San Francisco, Gen. Trias, Cavite

1283 1638 Brixxton Village Kingswood St. and Zabarte Rd., North Caloocan City

1284 1637 Sinait Poblacion National Highway cor. Rizal St., Brgy. Ballaigui sinait, Ilocos Sur

1285 1694 SM North EDSA Unit 101, G/F, Northlink Bldg., SM North EDSA, Quezon City

1286 1738 CPI Marauoy ** National Highway, Marauoy, Lipa, Batangas

1287 1707 Buenavista Gen. Trias Gov. Ferrer Drive, Buenavista-III, Gen. Trias, Cavite

1288 1354 Anabu Imus ** 917 Anabu I-F, Imus, Cavite

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A n n ua l R e p o r t 2 0 1 6

1289 1551 Soldiers Hill Bacoor B10 L30 Green Valley Subd., Molino, Bacoor, Cavite

1290 1570 Jones Avenue ** Unit 101 455 Osmena Blvd., Cebu City

1291 1528 Riverview Mansion T. Pinpin cor. Muelle de Binondo St., Manila

1292 1540 5th Ave. Rizal Ave., 5th Ave., Caloocan City

1293 1555 CPI C. Raymundo ** Caltex Station, C. Raymundo cor. Bernal St., Pasig City

1294 1374 Sta. Rosa Exit ** Brgy. Pulong Sta. Cruz, Sta. Rosa, Laguna

1295 1406 Parian ** Brgy. Parian, Calamba City, Laguna

1296 1538 Sky Ranch ^^ Tagaytay City, Cavite

1297 1659 Minuyan B-19 Road 1 Minuyan Proper, San Jose Del Monte, Bulacan

1298 1389 Himamaylan National Road cor. Ramos St., Municipality of Himamaylan Negros Occidental

1299 1592 Consolacion Cebu ** Pitogo, Consolacion, Cebu

1300 1601 Hillcrest Village Blk 13 Lot 1 Hillcrest Village, Camarin, Caloocan City

1301 1639 Kabisig Cainta Blk 18 Floodway, Kabisig, San Andres, Cainta, Rizal

1302 1708 Coher Center Coher Center, 1424 Quezon Ave., Quezon City

1303 1193 Sixto Avenue Sixto Antonio Avenue cor. Bernal Street Rosario Pasig City

1304 1468 Pala Pala 2 ** Dasmariñas Commercial Complex, Governor’s Complex Drive, Dasmariñas, Cavite

1305 1550 Lancaster Imus ** Brgy. Alapan 2-A, Imus, Cavite

1306 1573 Philand Tandang Sora 337 Tandang sora Ave., Pasong Tamo, Quezon City

1307 1574 Iloilo City Hall Guadarrama-Jalandoni Bldg., J.M. Basa cor. Ortiz Sts., Iloilo City

1308 1575 Sapang Palay ** Blk 20 Lot 1 MMCBuilding, Teachers Village, Brgy. San Rafael 1, San Jose Del Monte, Bulacan

1309 1748 Qualfon Dumaguete ** GF Chuang Bldg., Dr. V. Locsin, Dumaguete City

1310 1489 Residencia Real GF Residencia Real, Solana St. cor. Real St., Brgy 654 Intramuros, Manila

1311 1503 Tipas F. Manalo St., Ligid Tipas, Taguig

1312 1728 San Juan, Ilocos Sur ** National Highway, Brgy. Bannuar Poblacion, San Juan, Ilocos Sur

1313 1656 Maxsteel Bldg. Unit 1B, GF of Maxsteel Bldg., 266 N. Domingo St., Brgy. Pasesdena, San Juan City

1314 1626 Pasil L. Flores Street, corner Spoliarium Street, Brgy. Pasil, Cebu City

1315 1640 Parklane Dasma 122 Brgy. Sabang, Dasmariñas, Cavite

1316 1750 Cathedral Dumaguete ** GF Obdulia Inn Colon St. Cor. Perdices St. Dumaguete City

1317 1492 CPI Peñaranda ** Legazpi City, Albay

1318 1425 Canduman ** MCT Bldg., H. Abellana St. cor. National Highway Basak, Mandaue City

1319 1745 S.B. Cabahug S.B Cabahug St, Ibabao Mandaue City

1320 1606 Makati City Hall 2 779 JP Rizal St., Poblacion, Makati City

1321 1742 Abreeza Space 1013, GF, Abreeza Mall, JP Laurel Ave., Bajada, Davao City

1322 1782 Moncada ** Moncada Public Market, MAcArthur Highway, Poblacion 1, Moncada, Tarlac

1323 1554 Panorama Tower BGC Panorama Tower, 34th St. cor. Lane A, Bonifacio Global City, Taguig City

GF One Legacy Place Bldg., Don Jesus Blvd. cor. Kenrtucky, Alabang Hills, Brgy. Cupang,
1324 1672 Alabang Hills
Muntinlupa City

1325 1696 F. Legaspi ** 75 F. Legaspi St., Pasig Greenland Village, Pasig City

1326 1722 Plaza Miranda Felix R. Hidalgo St., Quiapo Manila


1327 1735 LRT V. Mapa 4134 R. Magsaysay Ave., Sta Mesa Manila City

1328 1493 CPI Daraga ** Cor. Rizal St. and Arboleda St., Daraga Public Market, Brgy. Ilawod-1, Daraga, Albay

1329 1509 Marigondon ** Crossing Marigondon Beach Road, Lapu-Lapu City

1330 1542 Belton Place Unit 4A Pasong Tamo St. cor. Yakal St., Makati City

1331 1629 Salawag 3 60 Paliparan Road, Salawag, Dasmariñas, Cavite

1332 1697 San Vicente Tarlac ** Lot 1, Blk 5, Southern bypass Road, San Vicente, Tarlac City

G/F of Polytechnic University of the Philippines-Hasmin Building, Ramon Magsaysay cor


1333 1700 PUP Hasmin
Valencia St., Sta. Mesa. Manila

1334 1394 Victorias ** Osmeña cor. Jover St., Victorias, Negros Occidental

1335 1403 Manapla ** Manapla Market Blocks, Municipality of Manapla, Negros Occidental

1336 1777 Camachiles ** Camachiles, Mabalacat City, Pampanga

1337 1609 Diamond Subdivision ** Morgang Ave., McArthur Highway, Balibago, Angeles, Pampanga

1338 1445 Mabuhay City Brgy. Baclaran, Cabuyao City, Laguna

1339 1660 Sierra Madre Mandaluyong EDSA cor. Sultan St., Mandaluyong City

1340 1668 Silver City 2 ** G/F Silver City Bldg. 2, Frontera Verde, Ortigas Center, Pasig City

1341 1793 San Agustine Pampanga ** McArthur Highway, Ramar Village, San Agustin, San Fernando, Pampanga

1342 1733 Caypombo 201 Brgy. Caypombo, Sta. Maria, Bulacan

1343 1822 Ulas Crossing ** Brgy. Talomo-Cotabato, Davao City

1344 1547 Grand Harbor Hotel ** #249 Waterfront Road, Subic Bay Freeport Zone, Olongapo City

1345 1734 Sta. Clara, Bulacan ** Bypass Road, Sta. Clara, Sta. Maria, Bulacan

1346 1567 Limay, Bataan ** Brgy. Reformista, National Road, Limay, Bataan

1347 1653 PCGS ** G/F Our Press Inc., Junquera St., Cebu City

1348 1582 Mandurriao Plaza ** Onate De Leon St. cor. R. Mapa St., District of Mandurriao, Iloilo City

1349 1718 Enverga University Brgy. Ibabang Dupay, Lucena City

1350 1732 Guiguinto ** 173 Dela Cruz St., Poblacion, Guiguinto, Bulacan

1351 1763 Phoenix Amang Rodriguez ** E. Amang Rodriguez Ave., Manggahan, Pasig

1352 1527 Escolta Twin Towers Escolta St., Manila City

1353 1588 Tuburan cor. Tabotabo and Burgos St., Brgy. 3, Tuburan, Cebu

1354 1597 Jordan-Moonwalk ** Jordan cor. Daang Batang, Brgy. Moonwalk, Parañaque City

1355 1726 La Salle 3 Unit No. 1-A, G/F, University Mall, Taft Ave., Malate, Manila

1356 1721 San Roque Cavite City P. Burgos Ave. cor. Dra. Salamanca Extn., Brgy. 58-A, Cavite City
ANNEx - Store Directory

1357 1815 Jetty Port- Caticlan 2nd Flr., CBTMPC Bldg., Caticlan Port, Malay, Aklan

1358 1817 Tourist Center- Boracay ** Tourist Center- Manggayad Manoc, Boracay Isaland, Malay, Aklan

1359 1585 Loreta Building Bohol Ave., Cebu Business Park, Cebu City

1360 1803 Bugallon, Pangasinan ** Brgy. Poblacion, Bugallon, Pangasinan

1361 1755 Georgetown Cybermall Georgetown Cybermall, RN Pelaez Blvd., Cagayan de Oro City

1362 1456 Yati Market ** ABC-G Distribution and Trading Inc., Yati, Liloan, Cebu

1363 1622 N. Domingo 2 ** Unit 104 G/F, FORC Bldg., N. Domingo cor. F. Roman Sts., San Juan City

1364 1645 Bagong Silang 4 Lot 4 Blk 41 Barrio of Bagong Silang, Caloocan City

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A n n ua l R e p o r t 2 0 1 6

1365 1840 Star City ** R6 Aliw Road, CCP Complex, Pasay City

1366 1533 Labo ** Labo, Camarines Norte

1367 1618 USC South Campus ** J. Alcantara St., sambag 1, Cebu City

1368 1699 Bongabon, N.E ** Poblacion Road, Bongabon, Nueva Ecija

1369 1664 Urduja Village #62 Sikatuna Ave., Urduja Village, Caloocan City

1370 1741 Porac, Pampanga ** Cangatba, Porac, Pampanga

1371 1495 CPI Tagapo ** National Road, Brgy. Tagapo, Sta. Rosa, Laguna

1372 1826 Davao Doctors College ** 433 General Malvar Street Brgy. 006 Quirino Avenue, Davao City

1373 1478 San Carlos Negros ** C.L. Ledesma Ave. cor. Locsin St., San Carlos City, Negros Occidental

1374 1633 East Rembo ** 182-A 19th Ave. cor. J.P. Rizal Extension, East Rembo, Makati City

1375 1457 Pinamungahan Poblacion, Pinamungahan, Cebu

1376 1727 Fe Del Mundo Hospital ** Banawe St., cor. Cadiz St., Quezon City

1377 1415 Buendia 6 Buendia Ave. Cor. Pasong Tamo St., Makati City.

1378 1652 Cebu St. Mary’s ** Tupas St., Sawang Calero, Cebu City

1379 1684 Vigan 3 National Road cor. Annunciacion St., Bantay, Vigan City, Ilocos Sur

Unit 102, G/F RCBC Connecticut Business Center, No. 51, Connecticit st., Northeast Greenhills,
1380 1709 Connecticut 2
San Juan, Metro Manila

1381 1855 San Antonio, Nueva Ecija ** Along Polacion Road, San Antonio, Nueva Ecija

1382 1691 Citihomes Molino ** Vallejo Wet ad Dry Market, Citihomes Subd., Molino 4, Bacoor, Cavite

1383 1769 SM Taytay ** Unit 113-114, GF, SM Taytay IT Park, Manila East Road, Taytay, Rizal

1384 1598 IBM Plaza- Eastwood ** IBM Plaza-R1, Eastwood City

1385 1651 East Mansion Unit CC2, G/F East Mansion Townhomes, Elisco Road, Sto. Rosario East, San Joaquin, Pateros

1386 1682 Bustillos ** San Anton St. cor. Earnshaw, Sampaloc, Manila

1387 1648 Peñafrancia ** Marcos Highway, Brgy. Mayamot, Antipolo City, Rizal

1388 1758 Baloy, Olongapo ** #1 Baloy Beach Road cor. National Highway, Barrio Baretto, Olongapo City

1389 1294 CPI Tuy ^^ Brgy. Luntal, Palico Crossing, Tuy, Batangas

1390 1630 Maria Orosa 2 1125 Maria Orosa St., Ermita, Manila

1391 1787 Carmen Cebu National Road, Cogonwest, Carmen, Cebu

1392 1791 Piela Dasma Piela, Sampaloc 3, Dasmariñas, Cavite

1393 1313 Hulong Duhat Malabon ** 17 Women’s Club St. cor. Flores St., Malabon City

1394 1580 Zarraga Iloilo ** Jalandoni St. cor. Gomez St., Municipality of Zarraga, Province of Iloilo

1395 1799 Numancia SBS Bldg., Numancia, Binondo, Manila

1396 1613 Ferry Terminal Retail 1, Jetty Port, seaside Blvd., MOA Complex, Pasay City

1397 1781 CPI Sto. Domingo Mexico ** Caltex Sto. Domingo, Mexico, Pampanga

1398 1546 Bagbaguin 189 General Luis St., Brgy. Bagbaguin, Valenzuela City

1399 1643 Caloocan City Hall A. Mabini, Caloocan City

1400 1593 Mandaue Cabancalan M.L. Quezon St., Cabancalan, Madaue City

1401 1810 San Pedro 8 ** #9 Rizal St., Brgy. Poblacion San Pedro City, Laguna

1402 1754 Limketkai Luxe Hotel GF, Limketkai Luxe Hotel, Limketkai Center, Cagayan De Oro
1403 1828 Malvar Davao ** Mt. Apo St., Davao City

1404 1771 Pascam 2 Arnaldo Highway, Brgy. Pasong Camachille-I, Gen. Trias, Cavite

1405 1772 GMA San Jose Brgy. Tinyente Tiago, GMA, Cavite

1406 1857 Calaca Highway ** Poblacion 4, National Highway, Calaca, Batangas City

1407 1548 Shell Bacolor ** Bacolor, Pampanga

1408 1649 Red Planet Hotel Tune Hotel Ayala, 99 Urban Ave., Brgy. Pio del Pilar, Makati City

1409 1703 Scienceville #50 Russia St., Betterliving Subd., Parañaque City

1410 1710 Patimbao Sto. Angel Sur, Sta. Cruz, Laguna

Angeles University Foundation, Medical Center, MacArthur Highway , Angeles City,


1411 1743 AUF Hospital 2
Pampanga

1412 1762 Sabang Lipa ** Sabang, Lipa, Batangas

1413 1764 Rebisco #56 Gen. Luis St., Brgy. Nagkaisang Nayon, Novaliches, Quezon City

1414 1835 UIC Bonifacio ** Dover Magallanes Bonifacio St., Davao City

1415 1856 San Jose 4, N.E. ** Hotel Tierra , Bonifacio St., Brgy. Rafael, San Jose, Nueva Ecija

1416 1860 Pinagsama Village ** Blk. 3 Lot 3 Phase 2, Pinagsama Village,C-5 Road, Western Bicutan, Taguig City

1417 1865 CPI Kumintang ** Barrio of Sambat Ilaya, Batangas City

1418 1617 Unioil West Avenue West avenue corner Cavite St., Brgy.Paltok, Quezon City

1419 1805 Malaria Highway Quirino Highway corner Hilton Street Brgy. Malaria North, Caloocan City

1420 1423 Pagrai Antipolo Brgy. Mayamot, Antipolo City, Rizal

1421 1863 City Mall Consolacion Poblacion Consolacion, Cebu

1422 1801 Scout Tuason ** #18 Scout Tuason cor. Sct. Castor St., Brgy. Laging Handa Quezon City

1423 1814 Divine World College Laoag Along National Highway Brgy. Nuestra Sra De Visiracion Laoag City, Ilocos Norte

1424 1775 Poblacion Pardo ** Cebu South Rd., Poblacion Pardo, Cebu City

G/F Unit C3 and C4, Granvia Residences, PODC Business Park, Pueblo de Oro, Cagayan de
1425 1862 Granvia Residences **
Oro City

1426 1603 S.H. Loyola 2 786 Vicente Cruz, Sampaloc, Manila

1427 1740 Otis GF, 1765 PM Guazon St., Paco, Manila

1428 1749 SPI Dumaguete ** GF RSI Bldg. Valencia St. Lower Bagacay Dumaguete

1429 1615 CPI T. Padilla ** T. Padilla St. cor. M.J. Cuenco Ave., Cebu City

1430 1719 Penaranda, N.E. Rizal St., Road, Brgy. 1, Penaranda, Nueva Ecija

1431 1790 San Simeon ** Paoay Currimao Suba Balacao Road, Brgy. Gaang Currimao, Ilocos Norte

1432 1420 Chino Roces ^^ Unit B GF 2310 Bldg., Chino Roces, Pio Del Pilar, Makati City
ANNEx - Store Directory

1433 1669 Escalante/ Jomabo Building National Road East Ave. Escalante City Neg. Occ

1434 1760 Phoenix Anabu Phoenix Gas Station, Anabu II-D, Aguinaldo Highway, Imus, Cavite

1435 1831 CPI Angono Caltex Gas Station Brgy. San Isidro Angono Rizal

1436 1365 Gold Land Tower Unit 2, G/F of Gold Land Tower Condominium No. 10 Eisenhower St., Greenhills, San Juan

1437 1571 Alijis Alijis Road Cor. Lacson Ext. Bacolod City Negros Occidental

1438 1913 Ecoland ** Quimpo Blvd. cor. Ecowest Drive, Matina, Davao City

1439 1600 Rosario, La Union 2 ** Brgy. Tag-ac, Rosario, La Union

1440 1768 Biñan Canlalay National Road, Brgy. Canlalay, Biñan City, Laguna

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90
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1441 1912 Nova Tierra ** GF Units 101 to 104 Nova Tierra Square, Bo. Pampanga, Lanang, Davao City

1442 1819 Bilibid Viejo 1034 Conde cor., Bilibid Viejo, Quiapo Manila

1443 1381 Corona Bldg. G/F , U-belt Exhibit Center, 1967 C.M. Recto Ave., Manila

1444 1586 Daanbantayan Osmena St. Poblacion Daan Bantayan Cebu

1445 1854 Victoria Reyes KHK Gas Station Brgy. Victoria Reyes Dasmarinas City Cavite

1446 1897 Ateneo Jacinto ** Ateneo Jacinto cor. Juan Luna Davao City

1447 1931 Tulaoc, San Simon ** Tulaoc, San Simon, Pampanga

1448 1274 Abellana Complex ** RR Landon Street, Sambag 1, Cebu City

1449 1770 JP Rizal 3 ** JP Rizal cor. Legaspi Sts., Brgy Valenzuela, Makati City

1450 1923 Cabuyao City Hall ** FB Bailon St., Brgy. Sala, Cabuyao City, Laguna

1451 1881 Antipolo Circle ** Claveria Plaza Circumferential Road Antipolo City Rizal

G/F Equatorial Development Realty Development Bldg., CM Recto Ave cor. Coromina St.
1452 1792 Equatorial Bldg. CM Recto
Quipo, Manil

1453 1846 SPMC ** Jose P. Laurel Ave., Davao City

1454 1512 Brentville Brentville subdivision Brgy. Mamplasan, Biñan, Laguna

1455 1922 Elvinda Km. 30 National Highway San Pedro City Laguna

1456 1795 Kalibo 1 ** Roxas Ave.,Kalibo, Aklan

1457 1800 CPI Kalentong ** Gen. Kalentong cor. Romualdez, Daang Bakal, Mandaluyong City

1458 1873 Dulong Bayan Brgy. Dulong Bayan 2, San Mateo Rizal

1459 1834 Sandawa Guardsman Building Sandawa Road Davao City

Unit 121 & 122 Grand Central Residences Tower 1, EDSAcor. Sultan St., Brgy. Highway Hills,
1460 1788 Sultan-EDSA **
Mandaluyong City

1461 1706 Narvacan, Ilocos Sur ** National Highway, Narvacan, Ilocos Sur

1462 1872 Potrero Malabon along McArthur Highway cor. Del Monte St.., Brgy. Potrero, Malabon City

Unit E014, GF, SM Dasmariñas, Governor’s Drive cor. Aguinaldo Highway, Dasmariñas,
1463 1736 SM Dasmariñas
Cavite

1464 1845 Tanay Poblacion Plaza Aldea, Tanay, Rizal

1465 1730 Phoenix Alabang-Zapote Alabang-Zapote Road, Pamplona, Las Piñas City

1466 1926 Biñan City Hall ** Brgy. Zapote, Biñan City, Laguna

1467 1992 GMall ** Gaisano Mall of Davao, J.P. Laurel Ave., Davao City

1468 1701 Tigbauan ** GF B&C Building Iznart St., Iloilo City

1469 1884 CPI Gusa ** Purok 7, Gusa, National Highway, Cagayan de Oro

1470 1949 UM Matina ** RSY Commercial Complex McArtur H-way, Brgy. Matina, Davao City

1471 1802 FLB Cebu ** Bohol Ave., and Archbishop Reyes Ave., Cebu Business Park, Cebu City

1472 1619 Oton 1 3 Mabini St., Oton, Iloilo

1473 1685 Ususan 63 General Luna St., Brgy. Ususan, Taguig City

1474 1885 Tabing Ilog, Marilao ** MacArthur Highway, Poblacion 2, Marilao, Bulacan

1475 1494 CPI Sipocot ** Brgy. Gaongan-Tara, Municipality of Sipocot, Province of Camarines Sur

1476 1680 Pototan Iloilo ** San Jose St. cor. Magbanua St., Pototan, Iloilo City

1477 1712 Minglanilla 2 ** Lipata, Minglanilla, Cebu

1478 1891 COC ** Max Suniel St., Brgy. Carmen, Cagayan de Oro City
1479 1961 Matina Crossing ** Matina Crossing, Davao City

1480 1671 Iloilo- Ayala Technohub ** Iloilo-Ayala Technohub Bldg., Brgy. San Rafael, Manduria, Iloilo City

1481 1838 CPI Tugatog MH Del Pilar cor. Gov. Pascual Ave., Tugatog, Malabon City

1482 1729 Tagbac Jaro ** Brgy. Balantang, Jaro, Iloilo City

1483 1821 Ragtime Hotel Dagupan G/F Ragtime Hotel, Perez Blvd., Dagupan City, Pangasinan

1484 1988 Petron Xavier Estate Masterson Ave., Upper Balulang, Cagayan de Oro City

1485 1602 Camalig ** Camalig Public Market Bldg., Poblacion, Camalig, Albay

1486 1679 Mansilingan Bacolod G/F Sullesta Property, Alijis Road, Bacolod City, Negros Occidental

1487 1780 Wilcon IT Hub Wilcon IT Hub along Chino Roces Ave., Makati City

1488 1479 Homesite Bacolod CL Montelibano Ave. cor. Carlos Hilado Highway, Homesite, Brgy. Villamonte, Bacolod City

1489 1784 Calbayog Calbayog cor. Mariveles St., Highway Hills, Mandaluyong Ciy

1490 1861 Nepa Q. Mart ** JCA Bldg., 730 EDSA cor. Ermin Garcia St.,, Cubao, Quezon City

1491 1972 Banawe 3 ** 575 N.S. Amoranto St. cor. Banawe Ave., La Loma, Quezon City

1492 1896 Ponciano ** Ponciano Reyes St., Davao City

1493 1960 Sumo Asia Hotel GF, Sumo Asia Hotel, Mamay Road, Lanang, Davao City

1494 1999 Venus Tandang Sora ** 766 Venus Ave., Banlat, Quezon City

1495 1723 Ecozone Hermosa ** Hermosa, Bataan

1496 1841 Maria Orosa 3 ^^ 1191 Maria Orosa St., Ermita, Manila

1497 1717 Cebu San Fernando Km. 29, National Road, San Fernando, Cebu

1498 1798 Dumlog Talisay ** Burgos St., Bumlog, Talisay, Cebu

1499 1804 Peoples Park ** 177 J. Camus Ilustre St., Davao City

1500 1796 Bankal Lapu-Lapu ** Lucas Bldg. located at Bankal St., Lapu-Lapu City, Cebu

1501 1869 CPI Lagro 868 Quirino Highway, Novaiches, Quezon City

1502 1871 Simala- Cebu Simala, Sibonga, Cebu

1503 1333 Legazpi 4 ** National Road, Brgy. Rawis, Legazpi City

1504 1898 Bocaue Exit ** Brgy. Turo, Bocaue, Bulacan

1505 1778 Bayan Luma 457 Yengco St., Bayan Luma III, Imus, Cavite

1506 1883 CDO Capitol ** C.M. Recto Ave. cor Don Apolinar Velez St., Cagatan de Oro City

1507 1589 Babag Uno ** Brgy. Babag 1, Lapu-Lapu City, Cebu

1508 1937 Villa Verde Villa Verde Ave. cor. Geronimo St., Sta. Monica, Quezon City
ANNEx - Store Directory

1509 1859 Kaginhawaan Kaginhawaan St. cor. Kasikatan K.V., Mangahan, Pasig City

1510 1886 Dalaguete Cebu Rizal St., Poblacion, Dalaguete, Cebu

1511 1584 Villa Arevalo Iloilo ** Yulo Drive cor. Bonifacio St., Villa Arevalo, Iloilo City

1512 1924 IRRI LB ** Brgy. Maahas, Los Baños, Laguna

1513 1765 Arpilleda ** 2960 Arpilleda St., Brgy. Carmona, Makati City

1514 1936 Oceanaire Lot 7-B Coral Way Drive cor. Sunrise Drive, Central Business Park 1, Pasay City

1515 1820 SFLU Regional Hospital ** McArthur Highway, Brgy. Sevilla, San Fernando City, La Union

1979 Marcos Highway 2, Baguio


1516 Marcos Highway, Baguio City
City **

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A n n ua l R e p o r t 2 0 1 6

1517 1959 Holy Cross College ** Sta. Ana Ave., LM Guerero St., JP Laureal Ave., Davao City

1518 1644 Badian Poblacion, Badian, Cebu

1519 1396 Hinigaran ** National Road cor. Osmeña St., Municipality of Hinigaran, Negros Occidental

1520 1713 Banawa Paseo R. Duterte St., Banawa, Cebu City

1521 1909 Baesa 2 Quirino Higway, Baesa, Quezon City

1522 1665 Sta. Ana Tulay ** 3163 New Panaderos Extension, Sta. Ana, Manila

1523 1543 JT Centrale- Fugoso #1686 Brgy. 311, Zone 31 V. Fugoso st. cor. Felix Huertas St. Sta. Cruz, Manila

1524 1716 Total Gas Roxas ** Bilbao St. cor. Legaspi St., Roxas City Capiz

1525 1779 Cielito Homes Caloocan Lot 2 Sampaguita St., Area D, Camarin, Caloocan City

1526 1935 CPI Pandacan Pres. Quirino Ave., Pandacan, Manila

1527 1945 One Corporate Plaza 854 A. Arnaiz Ave., Makati City

1528 2003 BGC Orion 11th Ave. cor. 38th St., Bonifacion Global City, Taguig

1529 1893 Buhangin Milan ** Km. 6 Sta. Cruz, Buhangin, Davao City

1530 1843 Plaza Nouvelle #2 E. Benedicto cor. Rahmann St., Brgy. Zapatera, Cebu City

1531 2020 Pilar, Sorsogon Milleza St., Brgy. Binanuahan, Pilar, Sorsogon

1532 1974 Tañong Bonifacio Ave., Tañong, Marikina City

1533 1970 Rancho 2 ** #1 Waco St. cor. Panorama St., Rancho Estate Phase 3, Marikina City

1534 1870 Holy Angel, San Fernando ** Holy Angel Village, Telebastagan San Fernando City, Pampanga

1535 2009 Lipa T.M. Kalaw ** T.M. Kalaw St., Lipa City, Batangas

1536 1934 Mirabela Homes 535 Ramos Compound, Bagumbong, Caloocan City

1537 1910 Tanauan 5 #2 Pres. Laurel Highway, Tanauan City, Batangas

1538 2027 Sta. Barbara, Pangasinan ** Poblacion, Sta. Barbara, Pangasinan

1539 1899 Kabatuhan Road- Deparo Blk 7 Lot 2, Kabatuhan Road, Sto. Tomas Ville De Paro, Caloocan City

1540 1981 El Paseo- UP Diliman El Paseo Bldg. Commonwealth Ave., Philcoa, Quezon City

1541 1952 Velez ** Don Apolinar Velez St., Cagayan de Oro City

1542 1969 Carnival Park ** #3 Carnival Park St., Talon Dos, Las Piñas City

1543 1744 Dela Paz Antipolo ** NHA Ave.,Brgy. Bagong Nayon, Antipolo City

1544 2098 San Pedro College ** De Guzman St., Brgy. Sta. Ana, Davao City

1545 1698 Seaoil Taytay Manila East Road cor. Velasquez Road, Munoz, Taytay, Rizal

1546 1928 Banga, Meycauyan ** McArthur Highway, Brgy. Banga, Meycauayan City, Bulacan

1547 1947 Micara Tanza Micara Plaza, A. Soriano Highway, Brgy. Salud Ulan, Tanza, Cavite

1548 2000 Barangka 2 ** 310 Barangka Drive cor. Timog St., Mandaluyong City

1549 2010 Toril Sto. Rosario Juan Dela Cruz St., Toril, Davao City

1550 1894 Victoria Plaza ** J.P. Laurel Ave., Davao City

1551 1851 Dumaguete Boulevard ** GF EBT Building, Unit 101, Rizal Blvd., Dumaguete City

1552 1868 Provincial Dumaguete ** Barrio of Bantayan, Dumaguete

1553 1991 Dela Salle Araneta ** #82 Araneta Ave., Potrero, Malabon

1554 1990 Paz- Araneta G. Araneta Ave. cor. Kaliraya St., Quezon City
1555 1993 Green Banana Hotel ** Green Banana Business Hotel, Pryce Business Park, J.P. Laurel Ave., Davao City

1556 1766 Hermosa Plaza ** Hermosa, Bataan

1557 1904 AMC Caldera Gov. Fullon St., San Jose, Antique

1558 1973 Wesleyan University, N.E ** Mabini Extn., Cabanatuan City, Nueva Ecija

1559 2016 Shakey’s Buting Pasig M. Concepcion, Brgy. Buting, Pasig

1560 2017 Cabaguio Avenue ** C5 Cabaguio Bldg, Villamor St., Cabaguio Ave., Davao City

1561 1692 Iloilo Business Park BPO Builduing B-Retail 1, Iloilo Business Park, Mandurriao, Iloilo

1562 1975 La Salle 4 Green Court Parking, Malate, Manila

1563 823 Binalonan Crossing Mc Arthur Highway Binalonan Pangasinan

Unit C5, Ground Floor, The Grand Riviera Suites, Roxas Blvd. cor. Padre Faura St., Ermita,
1564 1422 Grand Riviera Suites
Manila

1565 1818 Tunasan 2 155 National Road, Tunasan, Muntinlupa City

1566 1925 D. Jose 2 867 Doroteo Jose St., Sta. Cruz, Manila

1567 1877 Sigma Capiz Poblacon Sur, National Road (Iloilo- Capiz Road), Sigma, Capiz

1568 1686 Bolbok, Batangas City ** Brgy. Bolbok, Batangas City

1569 1997 Sampaloc, Tanay J.P. Rizal St., Sampaloc, Tanay, Rizal

1570 1458 Tangke ** San Roque, Talisay City, Cebu

1571 1962 San Pedro Pelayo ** De Guzman St., Brgy. Sta. Ana, Davao City

1572 2025 Naic Grand Terminal Brgy. Ibayo Silangan, Naic, Cavite

1573 1747 Siliman Highway Lo-oc, Dumaguete City, Negros Occidental

1574 1783 Pasig Church 2 ^^ MH Del Pilar St., Brgy. San Nicolas, Pasig City

1575 1941 Shine Residences Meralco Ave., Barrio Ugong, Pasig City

1576 1759 Palauig, Zambales Brgy. West Poblacion, Palauig, Zambales

Merzci Bldg., Sofia Gonzaga St., Fortune Towne, Brgy. Estefania, Bacolod City, Negros
1577 1905 Fortune Town- Merzci **
Occidental

1578 2039 Magallanes Cavite National Road cor. De Guia St., Brgy. Pblacion, Magallanes, Cavite

1579 1199 Portovita ** 14th Ave. Cubao, Quezon City

1580 1563 Ligao ** Rizal St. (National Road) cor. Blumentritt St. Ligao City, Albay

1581 1785 Centuria Medical GF G-01 Centuria Medical Makati, Century City, Kalayaan Ave., Makati City

1582 1789 Manila Residences II Unit 106-107, Ground Floor, Manila Residences I. Taft Avenue, Malate, Manila

Unit F126- F127, L1, The District, North Point, Lacson St., 6115 Talisay City, Negros
1583 1808 The District North Point
Occidental
G/F Unit KB-R22 and R23, Knightbridge Residences, Valdez St., Brgy. Poblacion, Century
1584 1848 Knightsbridge Residences
City, Makati City
ANNEx - Store Directory

1585 2004 Green Heights Lot 8, Dr. A. Santos Ave., Brgy. San Isidro, Parañaque City

1586 2041 San Quintin, Pangasinan ** Poblacion San Quintin, Pangasinan

1587 2045 Regional Hospital Sambat, Ibaba, Batangas City

1588 1966 Tagaytay Rotonda ** Brgy. Silang North Junction, Tagaytay City, Cavite

1589 1587 Bulacao ** Provincial Road, Bulacao, Pardo, Cebu City

1590 2136 Ecoland Suites ** Lot 19-A Blk 6, Brgy. Bucana, Ecoland Subdivision, Davao City

1591 2002 Metro Lifestyle ** F. Torres St., Jacinto Extn., Davao City

1592 1850 Bonifacio Road, Baguio City Honeymoon Subdivision, Baguio City

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A n n ua l R e p o r t 2 0 1 6

1593 1982 Gen. Trias 3 Brgy. Javalera, Gen. Trias, Cavite

1594 1844 Citic Tower Citic Tower Unit A #88 Baawe St. cor. Don Manuel Agregado St., Sto. Dmingo, Quezon City

1595 2103 Masantol ** Sta. Lucia Anac, Poblacion, Masantol, Pampanga

1596 1146 Maribago ** Datag, Maribago, Lapu-Lapu City

1597 1830 San Pedro 9 Blk 22 Lot 40 San Vicente, San Pedro, Laguna

G/F HRDC Bldg., KM 16 South Super Highway cor. Acsie Road, Severine Industrial Estate,
1598 1879 Acsie Compound
Parañaque City

1599 1889 Bagong Silangan Lot 2 Blk 24, Brgy. Bagong Silangan, Quezon City

1600 2078 Matina Aplaya ** Aplaya Arcade cor. Purok Malinawon, Matina Aplaya, Davao City

1601 1786 Pilar Hi-way Brgy. Aliuli, Pilar, Bataan

1602 2001 BF Resort 3 Gloria Diaz St. cor. BF Resort Drive Ave., Las Piñas City

1603 2029 El Grande 316 El Grande Ave., BF Homes Phase 3, Parañaque City

1604 2038 CPI West Service Rd. Km 17, West Service Road, Brgy. Pasong Kawaya, Parañaque City

1605 1976 CPI Gatuslao ** Gatuslao St. cor. Burgos Ave., Bacolod City, Negros Occidental

1606 2006 Maria Reyna ** Unit 4 & 5, Real Marc Building, Pinikitan, Camaman-an, Cagayan de Oro City

1607 1987 Pateros 2 Pateros Park Plaza de Borja, B. Moracilla St., Brgy.Poblacion, Pateros, Metro Manila

1608 2095 Catalunan Grande 1 ** Brgy. Catalunan Grande, Davao City

1609 2007 Gateway Mall GF #GMGF026R, Gateway Mall, G. Araneta cor. G. Malvar, Araneta Center, Quezon City

1610 1753 CPI Calauag ** Brgy. Sta. Maria, Calauag, Quezon

1611 1951 Hayes St. Hayes- Mortola Sts., Cagayan de Oro

1612 1836 A. Francisco 1917 A. Francisco St., San Andres Bukid, Sta. Ana, Manila

1613 2046 Matina Gallera ** Lot 7 Blk 11 McArthur Highway, Km.3, Matina, Davao City

1614 2119 Toril 2 Brgy. Daliao, Toril, Davao City

1615 1920 Mapayapa ** Lot 19 Blk 21 Sampaguita Ave., Mapayapa Village, Brgy. Pasong Tamo, Quezon City

1616 1971 St. Francis Square Julia Vargas St. Francis Square Mall along Julia Vargas, Ortigas Center,Mandaluyong City

1617 2081 San Juan, La Union ** National Highway, Ili Sur, San Juan, La Union

1618 1767 White Plains 92 C Katipunan Ave., White Plains Subd., Quezon City

1619 2019 Manhattan Dumaguete Calindagan Rd. Dumaguete City

1620 2097 Lucena Capitol Brgy. 8, Quezon Ave., Lucena City, Quezon

1621 2118 UM Tagum ** Sobrecary St., Brgy. Poblacion, Tagum City

1622 1968 Aguirre 2 BF Homes A. Aguirre Ave., Parañaque City

1623 1946 Airport Road 3 Airport Road cor. Macatan St., Baclaran, Parañaque City

1624 1816 Consolacion ** M. Pepito St., National Highway, Poblacion Occidental Consolacion, Cebu

1625 2112 Bacacay Poblacion Magsaysay St. cor. Mora St., Bacacay, Albay

1626 2096 Union Square 15th Ave. ** #145 GF Union Square Condominium, 15th Ave., Cubao, Quezon City

1627 1208 Bredco Port BREDCO Pier, Reclamation Ave., Bacolod City

1628 1591 Gun-ob ** M.H. Del Pilar S., Gun-ob, Lapu-lapu City, Cebu

1629 2056 Cadiz Negros ** Villena St. cor. Herrerias St., Poblacion 3, Cadiz City, Negros Occidental

1630 1774 Eusebio Arcade II Eusebio Arcade-Lacson, Bacolod City


1631 2034 Samsonville ** Samsonville Dau, Mabalacat, Pampanga

1632 2089 La Consolacion ** Blk 1 Lot 1 Villa Catalina 2 Subd., Sto. Tomas, Biñan, Laguna

1633 1933 Novaville Blk 1 Lot 1, Amparo Nova Ville Subd., De Paro, Caloocan City

1634 1506 San Narciso, Zambales ** Brgy. Libertad, San Narciso, Zambales

2114 RMCI- Rivera Medical Hospital


1635 7302 San Francisco, Panabo City, Davao del Norte
Inc

1636 1117 Central Signal Village ** Lot 1 Blk. 2, Ballecer St., Brgy. Central Signal Village, Taguig City

1637 2031 FCU Roxas ** Lot 2 Blk 2, JP Hacermida Bldg., Roxas Ave., Roxas City, Capiz

1638 2132 Maryknoll ** RVS Bldg., Poblacion, Panabo, Davao del Norte

1639 2104 Central Park Bangkal ** Km 6 McArthur Highway, Bangkal, Davao City

1640 2113 C.M. Recto Davao ** C.M. Recto St., Brgy. 34-D, Davao City

1641 1579 BF Condo Unit 105 BF Condominium, Intramuros, Manila

1642 1681 San Miguel Iloilo Casandra Bldg., Roxas St., San Miguel, Iloilo

1643 2250 Banaybanay Purok 4, Poblacion, Banaybanay, Davao Oriental

1644 2061 JR Borja ** JR Borja St., Cagayan de Oro City

1645 2130 Balibago Palengke ** Brgy. Balibago, Sta. Rosa City, Laguna

1646 1833 Ponce ** Brgy. 28 D. Suazo St., Manuel L. Quezon Boulevard, R. Magsaysay Avenue, Davao City

So-Pure Multi Business Center Bldg., Cagban, Brgy. Manoc-Manoc, Boracay Island, Malay,
1647 1853 Cagban Port- Boracay
Aklan

1648 2090 Bucal Tanza ** Bucal, Tanza, Cavite

1649 2021 Magsingal Poblacion National Highway, Brgy. San Julian, Poblacion, Magsingal, Ilocos Sur

1650 2055 Labangon 2 A. Lopez cor. Katipunan Sts., Labangon, Cebu City

1651 2135 Tagum Doctors Hospital ** Barrio of Magugpo, Tagum City, Davao Del Norte

1652 2142 LRT Buendia 2042 Taft Ave., Pasay City

1653 2143 Jupiter 2 GF, 120 Jupiter, Makati

1654 1964 Tikling Taytay ** Tikling Dolores, Taytay, Rizal

1655 2051 Antel Global 7th Flr. Antel Global, Julia Vargas, Ortigas Center, Pasig City

1656 2068 Floridablanca ** Solib, Floridablanca, Pampanga

1657 2070 Notre Dame Caloocan City 12th Ave., Caloocan City

1658 2154 Fernando Ave., Marikina ** #26 Almond St. cor. Gil Fernando St., Marikina City

1659 2229 MDMRC ** MDMRC, JP Laurel Ave., Davao City

1660 1907 Cogon Pardo ** Brgy. Cogon, Pardo, Cebu


ANNEx - Store Directory

1661 1948 6th Ave. Caloocan #150 Susano St. cor. M.H. Del Pilar, 6th Ave., Caloocan City

1662 1955 Taclobo Dumaguete Boston Finance Bldg., Dr. V. Locsin St., Taclobo, Dumaguete City

1663 2138 Don Antonio 2 GF Don Antonio Sports Center, Holy Spirit Drive, Brgy. Holy Spirit, Quezon City

1664 2080 Palanan ** GF Commercial Unit, 3696 Bautista St., Brgy. Palanan, Makati City

1665 2077 D University GF, Commercial Unit 1, D University Place, 2427 Leon Guinto St., Malate, Manila

1666 2209 Tahimik Avenue Talomo, Brgy. Matina Crossing, Davao City

1667 1878 San Pedro Exit Magsaysay Road, Brgy. San Antonio, San Pedro City, Laguna

1668 2147 Marick Cainta Sto. Domingo, Cainta, Rizal

95
96
A n n ua l R e p o r t 2 0 1 6

1669 2126 Landmass Tanza Landmass Park Subd., Brgy. Biga, Tanza, Cavite

1670 2188 Agdao Amson Bldg., Leon Garcia St. cor. Lapu-Lapu St., Agdao, Davao City

1671 2191 Mauban Q.C. ** A. Bonifacio cor. Mauban St., Quezon City

1672 2170 Tibungco ** Km. 18 Tibungco, Davao City

1673 1825 Springfield 722-A San Bartolome, Novaliches, Quezon City

1674 1890 Tabon Kawit Brgy. Tabon II, Kawit, Cavite

1675 2274 Convergys North EDSA 6F Annex, SM City North EDSA IT Center, Brgy. Sto. Cristo, Quezon City

1676 2023 SSS Village, Marikina Rainbow St. cor. Katipunan St., Marikina City

Building 532 and Adjacent Lot, Waterfront Road, Subic Bay Freeport Zone, Olongapo City,
1677 1874 The Reef Hotel
Zambales

1678 2172 Mati Dahican Brgy. Don Martin Marundan, Mati, Davao Oriental

1679 1916 CPI San Jose De Buenavista Tobias A. Fornier st. cor. Rep. Salazar St., San Jose De Buenavista, Antique

1680 2228 Mati Doctors College National Highway, Dahican, Mati City, Davao Oriental

1681 2022 Sanchez Center G/F Unit 1, Sanchez Center, P. Ouano cor. Plaridel Sts. Alang-Alang, Mandaue City, Cebu

1682 1930 CEU Malolos ** McArthur Highway, Brgy. Bulihan, Malolos, Bulacan

1683 2156 Shell Gapan, N.E. Maharlika Highway, Brgy. Sto. Niño, Gapan City, Nueva Ecija

1684 1581 Tabuc Suba Jaro ** McArthur Drive cor. Villa Consolacion Tabuc Suba, District of Jaro, Iloilo City

1685 2210 FPIP 2 ** Brgy. Sta. Anastacia, Sto. Tomas, Batangas

1686 2011 Rizal Shrine ** Rizal St., Brgy.4, Poblacion, Calamba, Laguna

1687 2157 Legian 2 Brgy. Carsadang Bago 2, NIA Road, Imus City, Cavite

1688 2169 Urbiztondo, Pangasinan Poblacion Urbiztondo, Pangasinan

1689 2120 Basista, Pangasinan National Highway Poblacion, Basista, Pangasinan

1690 1943 SM Rosales MacArthur Highway, Brgy. Carmen East, Rosales, Pangasinan

1691 2058 Laoag Public Market J.P. Rizal St. cor. Abadilla St., Brgy. 17 San Francisco, Laoag, Ilocos Norte

1692 1526 A. Mabini 2 Mabini, Malate, Manila

1693 2048 Remedios 2 Brgy. 689 Zone 075, Remedios cor. San Marcelino Sts., Malate, Manila

1694 2128 CPI San Mateo Gen. Luna St., San Mateo, Rizal

1695 2129 Tektite East Tower ** PSEC East Tower Exchange Road, Ortigas Center, Pasig City

1696 2159 Cordillera- Mandaluyong ** 588 Residences, Cordillera cor Arayat Sts., Brgy. Malamig, Mandaluyong City

1697 2180 Hotel 101 EDSA Extension, Pasay City

1698 2067 Rainbow Village, Caloocan Lot 26 Blk 37 Rainbow Village 5, Phase 2, Brgy. 171, Bagumbong, Caloocan City

1699 2134 Candelaria Highway ** Brgy. Malabanban Sur, Candelaria, Quezon

1700 2166 Oas Iraya Norte, Oas, Albay

1701 2139 Matabungkay Lian ** Brgy. Matabungkay, Lian, Batangas

1702 2183 Sto. Cristo Recto C.M. Recto Ave. cor. Sto. Cristo St., Binondo, Manila

1703 2165 The Grove Rockwell 2F The Grove by Rockwell, Pasig City

1704 2194 Valencia Plaza Purok 7, Poblacion, Valencia City, Bukidnon

1705 2246 Landmark Diversion Rd., Bo. Panacan, Davao City

1706 2164 Queens Theatre ** Brgy. 004, A. Bonifacio St., Camus St. C.M. Recto St. Ave., Davao City
1707 2127 Urban Hive ** Bacaca Road, Davao City

1708 2012 Calinog Iloilo Rizal St. cor. Osmeña St., Poblacion, Calinog, Iloilo

1709 2069 Quijano St..- San Ildefonso Quijano St., Brgy, San Juan, San Ildefonso, Bulacan

1710 2146 McPod ** McArthur’s Pod, Matina, Davao City

1711 2036 St. Joseph Village 7 St. Joseph Village 7, Brgy Marinig, Cabuyao, Laguna

1712 2037 Saint Joseph 8 (Butong) St. Joseph Village 8 Brgy. Butong Cabuyao Laguna

1713 2271 Quezon Buda Poblacion, Quezon, Bukidnon

1714 1887 Barotac Nuevo ** Cartagena St., Barotac Nuevo, Iloilo

1715 2091 Landco ** F. Imperial St. Tinago Legazpi City

1716 2225 FEU 2 #816 Quezon Boulevard Claro M. Recto Avenue Sampaloc Manila

1717 1725 Binangonan Triangle Manila East Road Binangonan Triangle

1718 1746 MC Briones ** M.C Briones St. Maguikay, Mandaue City

1719 2044 Sillas Anabu ** Brgy. Anabu I, Emilio Aguinaldo, Imus Cavite

1720 2234 Malibay 3 P. Santos cor. C. De Guzman Malibay Pasay City

1721 2033 Libis Camarin Lot 1 Blk 18, Camia St., Brgy. Camarin, Caloocan City

1722 2282 Lobo Batangas ** P. Burgos St., Lobo Poblacon, Batangas City

1723 2251 Buho Silang National Road, Brgy. Buho, Silang, Cavite

1724 2179 Mivesa Garden Residences Mivesa Garden Residences Bldg. 1, Salinas Drive Ext., Lahug, Cebu City

1725 1875 Banate Iloilo National Road cor. Tarrosa St.,Poblacion, Banate, Iloilo

1726 2238 Malaybalay Centro ** Sta. Ana Bldg., Sayre Highway, Malaybalay City, Bukidnon

1727 2240 Ladislawa ** Km. 5, Buhangin, Davao City

1728 2111 Sabutan Silang J.P. Rizal St., Brgy. Sabutan, Silang, Cavite

1729 2117 Aglipay 2 ** 1 Rev. Aglipay St., Brgy. Pag-asa, Mandaluyong City

1730 1842 Tangos Navotas F. Pascual St., Brgy. Tangos, Navotas City

1731 2245 Sorrento Unit 101A GF, No. 15 C. Raymundo Ave., Brgy. Rosario, Pasig City

1732 2015 Pavia Highway ** National Road, Brgy. Aganan, Pavia, Iloilo

1733 1940 Gov Pack Luneta Hill, Upper Session Road, Baguio City, Benguet

1734 2177 Sorsogon Capitol ** Rizal St. cor. Burgos St., Sorsogon City

1735 2137 UM Digos Poblacion, Digos City, Davao del Sur

1736 2109 Winford Hotel ** Retail 4, Winford Hotel, Brgy. 35C, Consuelo St., Sta. Cruz, Manila
ANNEx - Store Directory

1737 1560 The One Grand Centre ** Torre De Santo Tomas, 860 España cor. M.F. Jhocson St., Sampaloc, Manila

1738 1901 Norkis Cyberpark ** A.S. Furtuna St. cor. V. Albano St., Brgy. Bakilid, Mandaue City, Cebu

1739 2150 CPI F. Cabahug ** Caltex F. Cabahug St., Brgy. Kasambagan, Cebu City

1740 2082 Bokawkan, Baguio ** #1 Lower Bokawkan Road, Baguio City

1741 2168 Total Montalban M.H. Del Pilar St., San Rafael, Rodriguez, Rizal

1742 2218 F. Santos 1335 F. Santos Ave., Zapote, Las Piñas City

1743 2258 GSIS Matina ** McArthur Highway cor. Libra St., GSIS Subdivision, Matina, Davao City

1744 1892 Concepcion Iloilo Salcedo- Puntales Road, Poblacion, Concepcion, Iloilo

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1745 2244 Bulua Candida ** Masterson Ave., Upper Balulang, Cagayan de Oro City

1746 2059 Lutopan Lutopan Toledo City, Cebu

1747 2255 Gagalangin 2 2503 Del Fiero St. cor. Juan Luna, Tondo, Manila

1748 2083 Pura, Tarlac ** Gerona-Pura Rd. cor. Aganon St., Pura, Tarlac

B115b- B116b, North Wing Expansion, SM City Bacolod, Rizal St., Reclamation Area,
1749 1807 SM Bacolod 2
Bacolod City

1750 1373 E. Lopez E. Lopez St., District of Jaro, Iloilo City

1751 2174 Lupao, N.E. ** Cabilos St. cor. Lupao Poblacion East, Nueva Ecija

1752 2216 Mabini 3 1184 A. Mabini St., Malate, Manila

1753 2035 V Luna ** V. Luna cor. Matapat, Brgy. Pinyahan, Quezon City

1754 2063 CUMC ** Capitol University Medical Center, Gusa, Cagayan de Oro City

1755 1986 Evergreen Mercedes Ave., Pasig City

1756 2289 EPZA Terminal ** Tejero Convention, Rosario, Cavite

1757 1921 Canumay East E. Service Road No. 2 Narciso St., Brgy. Canumay East, Valenzuela City

1758 2092 Don Juico Ave. ** Unit 1B and 1C, Ming’s Building, 608 Son Juico Ave., Malabanias, Angeles City, Pampanga

1759 2316 East Asia Royale Hotel ** Barrio Dadiangas, Gen. Santos City, Mindanao

1760 2072 Pasacao Brgy .Sta. Rosa del Norte, Pasacao, Camarines Sur

1761 1829 Palisam Calamba Palisam, Calamba City, Laguna

1762 2273 Amberland Plaza Unit - 102, Ground Floor, Amberland Plaza, Julia Vargas Ave., Ortigas Center, Pasig City

1763 2297 500 Shaw 2 Laurel St. cor. Shaw Blvd., Mandaluyong City

1764 2151 San Rafael Wawa MH Del Pilar St. cor. P. Rodriguez St., San Rafael, Rodriguez, Rizal

1765 1927 San Luis, Pampanga ** Sto. Thomas, San Luis, Pampanga

1766 1776 Lambunao Iloilo Corners of Cataluna and Ladrido St., Lambunao, Iloilo

1767 2115 San Antonio 2 Unit B-5 Jaka Plaza, Dr. A. Santos Ave., San Antonio, Parañaque City

1768 2047 Global Oil ** Congressional Ave. cor. Shorthorn St., Bahay Toro, Quezon City

1769 1984 San Manuel, Pangasinan ** National Highway, Poblacion, San Manuel, Pangasinan

1770 2193 San Remegio Cebu North Hagnaya Wharf Rd. cor. Antonio de Pio Hway, Poblacion, San Remigio, Cebu

1771 2215 Bambang ** Bambang cor. Felix Huertas, Sta. Cruz, Manila

1772 1827 UM Bolton ** A. Bolton St., Davao City

1773 2259 Legarda Road, Baguio City Unit 101, 102 & 10-A of Baguio Holiday Villas, No. 10 Legarda Road, Baguio City

1774 2257 NHA Maa ** Don Julina Rodriguez Ave., Davao City

1775 2155 Kanto Bangad, N.E. 178 Kanto Bangad, Cabanatuan City, Nueva Ecija

1776 1576 Gen. Tinio, N.E. ** Poblacion Central, General Tinio, Nueva Ecija

1777 2399 Polaris ** Unit 2 Polaris, Spectrum Midway, Alabang, Muntinlupa City

1778 2317 CPI Lagao ** Tiongson St., Brgy. Lagao, Gen. Santos City

1779 2326 CPI Dadiangas ** Brgy. Dadiangas, General Santos City

1780 1678 Miag-Ao Iloilo ** Zulueta Ave., Miag-ao, Iloilo

1781 1989 Tabaco 2 ** Ziga Avenue, Brgy. Basud, Tabaco City, Albay

1782 2267 Salinas 2 Brgy. Wawa 1, Rosario, Cavite


1783 2131 Salamanca ** Salamanca St. cor. Eduque St., Poblacion, Makati City

1784 1958 Banga Aklan Aklan E Road, Poblacion Banga, Aklan

1785 2206 Pelaez ** Tuxedo Suites, Pelaez St., Kamagayan, Cebu City

1786 2162 Corrales ** Corrales Ext., Cagayan de Oro City

1787 2230 SM Lanang Premier J.P. Laurel Ave., Bajada, Davao City

1788 2122 Pandayan, Meycauyan Brgy. Pandayan, Meycauayan, Bulacan

1789 2438 JMC Davao KJC Compound, Phil.-Jap Friendship Highway, Brgy. Sasa, Davao City

1790 2375 HB1 Boulevard ** Quezon Blvd. cor Artiaga St., Davao City

1791 2303 Traders Batangas P. Burgos St. cor. Evangelista St., Batangas City

1792 2227 Manikling Brgy. San Roque, San Isidro, Davao Oriental

1793 2141 Pilar Hidalgo Brgy. Pedro Gil cor. Pilar Hidalgo Lim Sts., Malate, Manila

1794 1911 Don Mariano ** Don Mariano Subd. Along Ortigas Ave. Extn., Brgy. San Juan, Cainta, Rizal

1795 2102 Park Avenue ** J.P. Laurel Ave./ Park Ave., Bajada, Davao City

1796 2074 St. Benedict-Caloocan Congressional Road Ext., Bagumbong, Caloocan City

1797 2195 Sangi Toledo Sangi, Toledo, Cebu

1798 2208 Balungao, Pangasinan ** Poblacion Balungao, Pangasinan

1799 2291 Rosario Crossing ** Poblacion Carandang St., Rosario, Batangas

1800 2309 Victor Hotel ** Epoch One Bldg., J. Victor St., Brgy. Pio del Pilar, Makati City

1801 2239 Bugo ** Bugo, Cagayan de Oro City

1802 2178 Park Centrale ** G/F Park Centrale, IT Park, Lahug,Cebu City

1803 2254 Tambo 2 ** Anflocor Bldg., 411 Quirino Ave. cor NAIA Road, Tambo, Parañaque City

1804 2285 Phoenix Digos ** San Jose, Digos City

1805 2383 HB1 Ecoland ** Antastic Complex, Quimpo Blvd., Davao City

1806 2145 Tandang Sora ** Brgy. Pasong Tamo, Tandang Sora, Quezon City

1807 2207 Don Bosco, Mabalacat ** McArthur Highway, Mabalacat, Pampanga

1808 2372 HB1 Mintal ** HB1 Mintal, Davao-Bukidnon National Highway, Davao City

1809 2261 Agoncillo Manila 999 GF Stanisco Tower, Pedro Gil cor. Agoncillo St., Ermita, Manila

1810 2052 Northwing Shangri-La Unit GD 117 Northwing of Shangri-la Plaza, EDSA, Mandaluyong City

1811 2144 West Rembo 2 ** A. Mabini St. cor. JP Rizal Ave., Brgy. West Rembo, Makati City

1812 2287 Gensan Roxas ** Roxas East Ave., General Santos City
ANNEx - Store Directory

1813 2373 HB1 Toril ** Toril Crossing, Davao City

1814 2305 Maysan Road ** Maysan Road, Maysan, Valenzuela City

1815 2256 Ususan 2 ** 153 Gen. Luna St. cor. Levi Mariano Ave., Brgy. Ususan, Taguig City

1816 2211 Central Bicutan ** Lot 1 Blk 184 A. Bonifacio Drive, Central Bicutan, Taguig City

1817 1938 Gihon Gihon Bldg., Jose Abad Santos Ave. Clark, Pampanga

1818 2266 Bulihan 2 Brgy. Anahaw-1, Silang, Cavite

1819 2310 Palma Gil ** Brgy. Poblacion, Davao City

1820 2298 Medicion Imus Medicion St., Brgy. Medicion II C, Imus, Cavite

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1821 2333 Norzagaray ** Poblacion-Norzagaray, Bulacan

1822 2186 Clark International Airport ** Clark International Airport, Clark Freeport Zone, Pampanga

1823 2110 Grand Canal Mall ** Unit A141a Grand Canal Mall, Mckinley Hill, BGC, Taguig City

1824 2175 San Isidro Montalban ** Eastcom Central, Ph1, Blk 1&2, Eastwood Residences, San Isidro, Rodriguez, Rizal

1825 2196 New Washington Aklan Roxas Ave. St., Poblacion New Washington, Aklan

1826 2299 Pinagbuklod Imus ** Brgy. Pinagbuklod Luna St., Imus, Cavite

1827 2088 San Pablo Central ** Poblacion, San Pablo City, Laguna

1828 2422 Sta. Elena Exit ** South Point Subd., Brgy. Banay-Banay, Cabuyao City, Laguna

1829 2320 De Castro Pasig ** #3 Sampaguita St., De Castro Ave., Brgy. Sta. Lucia, Pasig City

1830 2300 Carmona Municipal ** J.M. Loyola St., Carmona, Cavite

1831 1967 Perpetual Imus ** Brgy. Palico IV, Imus, Cavite

1832 2024 Viente Reales St. Peter St., Luis Francisco Subd., Viente Reales, Valenzuela City

1833 2163 Mapulang Lupa #5095 sto. Rosario St., Brgy. Mapulang Lupa, Valenzuela City

1834 2340 PTT SCTEX ** PTT SCTEX, Macangcung Service Area, Subic-Clark Expressway

1835 2057 Villa Monica ** 526 M. Almeda St., Pateros, Metro Manila

1836 2283 Langkiwa Southville 5A, Brgy. Langkiwa, Biñan City, Laguna

Southkey Hub, Indo-China Drive, Northgate Cyberzone, Filinvest City Alabang, Muntinlupa
1837 2107 Southkey Hub **
City

1838 2220 Kalibo Plaza ** G/F Glowmoon Bldg., Martelino St., Poblacion, Kalibo, Aklan

1839 2093 Pampang, Angeles ** Pampang, Angeles, Pampanga

1840 2217 Padre Faura 2 1227 A. Mabini St. cor. P. Faura St., Ermita, Manila

1841 2472 Pulilan Highway ** Brgy. Cutcot, Pulilan, Bulacan

1842 2066 Lingunan #44 P. Gregorio St., Lingunan, Valenzuela City

1843 2223 The Levels ** C4 & C5 Pacific Rim Road, Commerce Ave., Filinvest City, Muntinlupa City

1844 2073 Marulas 2 #9 Espirito St., Marulas, Valenzuela

1845 1812 Siliman Medical- Dumaguete ** GF Loo Building, Aldecoa St. cor. Ipil St., Dumaguete City

1846 2329 MSY Tower Lot 3 Blk 6, Pescaderos Rd., Cebu Business Park, Cebu City

1847 2133 Imus Terminal Mall Brgy. Bayan Luma Market Road, Imus City, Cavite

1848 2204 Paradahan Tanza Brgy. Paradahan 2, Tanza, Cavite

1849 2296 LRT Cubao GMGF010R, GF, Gateway Mall, Aurora Blvd., Araneta Center, Cubao, Quezon City

1850 2262 St. Francis Assisi ** 108 National Highway, Brgy. Pulo, Cabuyao City, Laguna

Crownlink Center 2, Lot 1 and 3 Regalado Highway, Brgy. Greater Lagro, Novaliches, Quezon
1851 2276 Regalado Highway
City

1852 2322 Dingle Muyco St., Poblacion, Dingle, Iloilo

1853 1537 Tagaytay Prime Residences Unit C-3B, GF, Tagaytay Prime Residences, Tagaytay Prime Rotunda, Tagaytay

1854 2260 Twin Lakes Tagaytay F&B3 GF and LG Bldg., D Twin Lakes Shopping Village, Nasugbu, Batangas

1855 2205 Tiaong Poblacion ** Brgy. Poblacion Tiaong, Quezon

1856 2357 Gulod Batangas ** National Road, Gulod Labac, Batangas City

1857 1866 Fatima Dasma Fatima, Dasmariñas, Cavite

1858 2149 Bangkal 2 GF MN1 Bldg., 1321 Apolinario St., Brgy. Bangkal, Makati City
1859 2065 Llano Road Teofilo Samson Road cor. Llano Road, Llano, Caloocan

1860 2402 Ma-a Centro ** Crossing Jail and Ma-a Rd., Davao City

1861 2253 San Fernando 5 ** McArthur Hiway, Brgy. Del Pilar, San Fernando, Pampanga

1862 2202 Betis Pampanga ** San Nicolas 2nd, Betis, Guagua, Pampanga

1863 2184 Lawang Bato Punturin-Lawang Bato Road, Brgy. Lawang Bato, Valenzuela City

1864 2336 The Charter House 114 Legazpi St., Legazpi Village, Makati City

JEL Bldg. Blk 18 Lot 10 Calamansian St. cor. Ascencion St., Maligaya Park Land, Caloocan
1865 2185 Calamansian Caloocan **
City

1866 2226 CDO City Hall Nicolas Capistrano St., Brgy. 02, Cagayan De Oro City

1867 2105 Molo Plaza ** Lopez Jeana St., Molo, Iloilo City

1868 2214 Burgos, Pangasinan Poblacion Burgos, Pangasinan

1869 2181 Tanjay Tanjay, Negros Oriental

1870 2286 Valladolid Negros Presbitero St., South Negros Highway, Valladolid, Negros Occidental

1871 1670 C. Lawis, Antipolo ** Circumferential Road cor. C. Lawis Extension, Brgy. San Isidro, Antipolo, Rizal

1872 2330 Medellin Bogo-Curva-Medellin cor. Daanbantayan Rd., Poblacion Medellin, Cebu

1873 2100 F. Manalo Pasig F. Malano St., Brgy. Sto. Tomas, Pasig City

1874 2167 San Antonio, Sto. Tomas ** Brgy. San Antonio, Sto. Tomas, Batangas

1875 2380 Camp Escudero ** Cipriana Bldg., Brgy. Sulucan, Magsaysay St., Sorsogon City

1876 1647 San Roque Naic ** Governor Drive cor. Capatain Ciriaco Nazareno, Brgy. San Roque, Naic, Cavite

1877 2242 Bayanan ** National Road, Brgy.Bayanan, Alabang, Muntinlupa City

1878 2332 Boat Station 1 ** Boracay Beach Resort, beach front, Boracay Island, Malay, Aklan

1879 2385 Paragon Place ** Paragon Place, 17 Commonwealth Ave., Batasan Hills, Quezon City

1880 2200 Navotas City Hall ** M. Naval St., Navotas City

1881 1957 APM Centrale ** AMP Centrale, Andres Soriano Ave., Cebu Port Centre, CNRA, Cebu City

1882 2411 Gensan Freedom Park ** Dadiangas, General Santos City

1883 2284 Dumoy ** Brgy. Dumoy, Davao City

1884 2390 Villanueva ** Poblacion, Villanueva, Misamis Oriental

1885 2219 Antigua’s Place ** Gun-ob, Lapu-Lapu City, Cebu

1886 2401 Capas 3, Tarlac ** Brgy. Talaga, Capas, Tarlac

1887 2432 Pier 4 Gen. Maxilom Ave. Extn., Cebu City

1888 2343 ATM Business Center ATM Business Center, GF Ledesma St. cor. Jalandoni St., Iloilo City
ANNEx - Store Directory

1889 2437 Tagum Freedom Park ** Cor. Osmeña & Arellano Sts., Magugpo Poblacion, Tagum City

1890 2292 Edison Avenue ** Km 14, Edison Ave., Brgy. Sun Valley, Parañaque City

1891 2269 Crossing Alijis Lot 2 Blk 1, La Villa De Guadalupe, Circumferential Road, Brgy. Alijis, Bacolod City

1892 2277 Sta. Rita, Pampanga ** Brgy. San Vicente, Sta. Rita, Pampanga

1893 2213 Maria Clara Maria Clara St. cor. 7th Ave., Caloocan City

1894 2352 Sta. Rosa Heights Brgy. Putting Kahoy, Silang, Cavite

1895 2176 Rodriguez Boundary JP Rizal St., Brgy. Burgos, Rodriguez, Rizal

1896 2350 McHotel ** 35 Susano Rd., Novaliches, Quezon City

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1897 2370 CPI Puerto ** Puerto, Cagayan de Oro City

1898 2121 Umingan, Pangasinan ** Gomez St., Poblacion, Umingan, Pangasinan

1899 2182 Bayawan Negros Bayawan, Negros Oriental

1900 2445 Gaisano Grand Digos ** Rizal Ave., Digos City, Davao del Sur

1901 2344 Parañaque City Hall ** San Antonio Ave. cor. Sta. Lucia St., San Antonio, Valley, Parañaque City

1902 2312 Lawaan Roxas Bldg., Lawaan, Talisay City, Cebu

1903 2308 Jordan Heights Blk 1 Lot 19, Jordan Heights Subd., Novaliches, Quezon City

SM City Baliwag Central Terminal Unit 101-104, Doña Remedios Trinidad Hwy, Pagala,
1904 2252 SM Baliwag
Baliuag, Bulacan

1905 2442 Hop Inn M.H. Del Pilar 1850 MH Del Pilar St., Malate, Manila

1906 2054 MacArthur Highway #79 MAcArthur Highway cor. Camito St., Caloocan City

1907 2408 Chong Hua Hospital-NRA ** Chong Hua Hospital-Mandaue, Mantawi Ave., North Reclamation Area, Mandaue City, Cebu

1908 2101 Maliwalo, Tarlac Tarlac- Sta. Rosa Rd., Zone 4, Maliwalo, Tarlac City

1909 2236 Siaton Negros Siaton, Negros Oriental

1910 2464 Lorma Medical ** CarlaTan San Fernando, La Union

1911 2241 Baliuag-Crossing ** Brgy. Bagong Nayon, Baliuag, Bulacan

1912 2324 Estrada Digos ** Lot 1716 H. Estrada St., Brgy. Sta. Cruz, Digos City, Davao

1913 2427 Bankerohan ** Unit 101 and 102 JLF Parkway Magallanes St. cor. Tomas Claudio St., Davao City

1914 2339 P. Guevarra 2 ** 262 Santolan Road, San Juan City

1915 2441 Tagaytay Picnic Grove Brgy. Sungay South, Tagaytay City, Cavite

1916 2085 SM Clark Tech Hub SM City Clark, Angeles City, Pampanga

1917 2306 Alapan Imus Alapan St., Brgy. Alapan I B, Imus City, Cavite

1918 1954 Dumangas Iloilo ** Lot No. 1978, Calle P. Burgos Road, Poblacion, Dumangas, Iloilo

1919 2043 Memije GMA Lot 16 N2, Blk 45 Congressional Ave. cor. Laurente St., Brgy. Marcelino, Memije, GMA, Cavite

1920 2458 Cabantian ** Cabantian Buhangin, Davao City

1921 2018 Citymall Parola City Mall, Parola, Ioilo

1922 2356 Blumentritt 4 ** Cavite St. cor. Lico St., Sta. Cruz, Metro Manila

1923 2315 Lourdes Suites 8429 Kalayaan Ave. cor. Makati Ave., Poblacion, Makati City

1924 2364 Masaito Imus Windsor Subd., Brgy. Buhay na Tubig, Imus, Cavite

1925 2360 Mambog 2 Daang Palico, Brgy. Mambog I, Bacoor City

1926 2295 Tierra Nova Caloocan Blk 1 Lot 18 & 20 Tierra Nova Main, Bagumbong, Caloocan City

1927 2404 Asturias 2 Asturias St., Sampaloc, Manila

1928 2084 Centrio Ayala Corrales Ave. cor. CM Recto Ave., Cagayan de Oro

1929 2293 Digos Doctors Hospital Digos Doctors Hospital, McAthur Highway, Digos City

1930 2473 Osmeña Echem ** Cor. Florentino Osmeña St., Brgy. Cogon, Cagayan de Oro City, Misamis Oriental

1931 2071 San Nicolas I.T. Park Valdez Center, Brgy. 1, San Nicolas, Ilocos Norte

1932 2501 Cathedral Iligan ** Lluch St., Brgy. Poblacion, Iligan City

1933 2005 ACI Corp Inigo St., J.P. Laurel Ave., Davao City

1934 2424 Jaro Plaza ** Comisson Civil St., Jaro, Iloilo City
1935 2325 Magsaysay San Pedro RJT Bldg., 162 Magsaysay Ave., Brgy. Magsaysay, San Pedro, Laguna

1936 2502 Msu-iit ** Andres Bonifacio St., Tibanga, Iligan City

1937 2478 81 Xavier ** GF 81 Xavier Residences, Greenhills, San Juan City

1938 2536 Culasi Antique ** Dioso St., Centro Poblacion, Culasi, Antique

1939 2076 New Era University ** Dela Paz, McArthur Highway, San Fernando, Pampanga

1940 2429 Bauang Crossing ** Bauang-Baguio Rd., Brgy. Central East, Bauang, La Union

1941 2221 Mabinay Negros 2922 Mabinay, Negros Oriental

1942 2413 Dalig Antipolo Blk 1 Lot 40, Brgy. San Jose, Antipolo City

1943 2094 CAPSU Roxas City ** Brgy. Bangueroha, Roxas City, Capiz

1944 2409 Chatwoods Center ** GF Units 1 & 2- Bldg. 2 Chatwoods Center, H. Cortes cor. AS Foruna, Mandaue City, Cebu

1945 2353 Bucandala 2 ** Brgy. 4, Imus City, Cavite

1946 2363 Estrella Cainta ** Brgy. San Juan, Cainta, Rizal

1947 2302 Mabolo Church ** 4Dy Strongbond Bldg., M.J. Cuenco, Mabolo, Cebu City

1948 2392 Oranbo ** A.B Sandoval Bldg., Shaw Blvd., Brgy. Orbando, Pasig City

1949 2377 Palmera SJDM Brgy. Poblacion 1, San Jose Del Monte, Bulacan

1950 2491 Tiwi ** National Highway, Brgy. Tigbi, Tiwi, Albay

1951 2400 City of Dreams LGF, Heart of House, City of Dreams Manila, Aseana Ave. cor. Roxas Blvd., Parañaque City

1952 2294 Venue One Boracay ** Balabag Hi-way, Brgy. Balabag, Malay, Aklan

1953 2335 Dao Capiz Dao-Maayon Rd., Poblacion Dao, Capiz

1954 2518 Sta. Ana, Pampanga ** Olongapo-Gapan Rd., San Joaquin, Sta. Ana, Pampanga

2467 Mactan Cebu International Terminal 1- Domestic Arrival, Mactan Cebu International Airport, Lapu-Lapu Airport Rd.,
1955
Airport ** Lapu-Lapu City, Cebu

1956 2414 I Care Makati GF Insular Health Care Bldg., 167 Dela Rosa cor. Legazpi Sts., Legazpi Village, Makati City

1957 2428 UM Panabo ** Brgy. Gredu, Panabo City, Davao del Norte

1958 2423 Captain Vicente ** Puerto, Cagayan de Oro City

1959 2222 Gaisano Jai-Alai ** C. Padilla St. Mambaling, Cebu City

1960 2455 Agora Terminal ** Gaabucayan St., Agora Lapasan, Cagayan de Oro City

1961 2397 Dela Rosa ** 7641 Dela Rosa St., Pio Del Pilar, Makati City

1962 2431 Garden Square ** Greenhills Garden Square Condominium, #297 Bonny Serrano Ave., Quezon City

1963 1888 Market Place-11th Ave. ** 154 D.P. Housing Project, Grace Park, Caloocan City

1964 2192 Ortigas Park Ortigas Park, F. Ortigas Jr. Road, Ortigas Center, Pasig City
ANNEx - Store Directory

1965 2457 Old Sauyo Road ** Lot 3 Blk 2 DJR Village, Old Sauyo Rd. Quezon City

1966 2388 Natividad, Pangasinan Poblacion , Natividad, Pangasinan

Unit 5 and 6, Commercial Complex 2, The Orchid Gardens, Lazatin Blvd., San Fernando,
1967 2415 The Orchid Gardens **
Pampanga

1968 2028 UCC Camarin Lot 14 Blk 44, Bunag St., Area B, Camarin, Caloocan City

1969 2466 San Roque 2, Tarlac City ** McArthur Highway, Brgy. San Roque, Tarlac City

1970 2384 CPI Kamuning ** 54 Kamuning Rd. cor. Judge Jimenez, Kamuning, Quezon City

1971 2140 Balamban 2 Brgy. Buanoy, Balamban, Cebu

1972 2342 Jimalalud Negros F.F Sevilla Poblacion, Jimalalud, Negros Oriental

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1973 2086 Ibajay Aklan ** Aklan West Road, Poblacion Ibajay, Aklan

1974 2304 La Consolacion Valenzuela St. Jude St. cor. Samal St, Malinta, Valenzuela City

1975 2062 Punturin Valenzuela ** Punturin-Lawang Bato Road, Brgy. Punturin, Valenzuela City

1976 2301 Cyber Park Tower 1 ** GF Cyber Tower One, Gen. Aguinaldo St., Cubao, Quezon City

1977 2075 Granada Heights Lot 1123, Montelibano St., Brgy. Granada, Bacolod City, Negros Occidental

1978 2551 USEP Davao Inigo St., Brgy. Obrero, Davao City

1979 2248 Calinan Public Market Villafuerte St., Calinan, Davao City

1980 2367 Burgos 2 2289 Burgos St., Pasay City

1981 2405 LV Locsin 6752 L.V. Locsin Bldg., Ayala Ave., Makati City

1982 2398 Shell Putatan ** 26-27 National Rd., Brgy. Putatan, Alabang, Muntinlupa City

1983 2272 Vergon Ville ** L6 A. Aurora Drive, Vergon Ville Subdivision, Las Piñas City

1984 2412 Agora Crossing 370 North Bay Blvd., Lapu-Lapu Ave. cor. North Bay Blvd. South, Navotas City

1985 2268 North Olympus ** L1A, B4, Ph4 North Olympus Subd., Novaliches, Quezon City

1986 1917 Antique Capitol ** San Jose De Buenavista, Antique

1987 2008 Murcia Negros ** Lot 123, Murcia Road cor. Miranda St., Poblacion, Murcia, Negros Occidental

1988 2387 One West Campus A106b One West Campus, McKinley West, Fort Bonifacio, Global, Taguig City

1989 2263 One Central Retail B GF, One Central Makati, Buendia, Makati City

1990 2436 Circuit Lane LC 127, Lower G/F, Circuit Lane, Circuit, Makati City

1991 2386 CPI NAIA Kabihasnan ** Caltex NAIA (Kabihasnan), Ninoy Aquino Ave., San Dionisio, Kabihasnan, Parañaque

1992 2447 San Guillermo Pasig ** Garcia St. (San Guillermo Ave.), Pasig City

1993 1569 Lapu-Lapu City Hall ** GA Building, Pusok, Lapu-Lapu City, Cebu

1994 2395 Avida Centera ** Unit 1C-13, Avida Towers Centera, EDSA cor. Reliance St., Mandaluyong city

1995 2087 Jaro Market Dalan El 98 St., Jaro, Iloilo

** FC1

^^ FC2/FC3
ANNEx - Store Directory

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