PRO FORMA STATEMENT OF FINCANCIAL POSITION

CONSO

Account Name Beginning Balance Debit

ASSETS
CIB BDO SAVINGS ACCOUNT 600,000,000 22,200,000
CIB BDO CHECKING ACCOUNT 775,000,000 17,850,000
MATERIALS 50,000,000 4,650,000
WORK IN PROCESS 112,500,000 12,200,000
FINISHED GOODS 87,500,000 10,000,000
DUE FROM AFFILIATES 81,300,000 7,653,000
INVESTMENTS 76,847,187 -
TRANSPORTATION EQUIPMENT 26,000,000 800,000
ACCOUNTS RECEIVABLE-TRADE 91,302,123 6,986,293
DIVIDEND RECEIVABLE 125,000 20,000,000
OFFICE BUILDING 5,420,000
FACTORY BUILDING 50,000,000
FACTORY EQUIPMENT 16,000,000 430,000
PREPAID TAXES 13,377 -
ACCOUNTS RECEIVABLE-OTHERS 3,631,461 -
MONEY MARKET PLACEMENTS 2,500,000 -
OFFICE EQUIPMENT 2,300,000 -
IT TECHNICAL SUPPORT 584,123 112,116
LEASEHOLD IMPROVEMENT 557,658 -
PREPAID EXPENSES-OTHERS 309,376 83,143
REVOLVING FUND-OPERATIONS 250,000 -
OFFICE SUPPLIES 84,575 2,412
CREDITABLE WITHHOLDING TAX EXPENSE 663,579,079 719,953,280
SOFTWARE 79,241 -
PETTY CASH FUND 50,000 -
PREPAID INSURANCE EXPENSES 24,530 20,786
COMMUNICATION EQUIPMENT 11,284 -
A/D-OFFICE EQUIPMENT - 45,281 -
A/D-LEASEHOLD IMPROVEMENTS - 176,380 -
A/D-OFFICE BUILDLING - 320,189 -
A/D-TRANSPORTATION EQUIPMENT - 4,923,267 -
A/D-FACTORY BUILDING - 7,258,900
TOTAL ASSETS

LIABLITIES
SSS LOANS PAYABLE - 2,806 4,190
HDMF CONTRIBUTIONS PAYABLE - 4,800 3,360
HDMF LOANS PAYABLE - 5,662 5,298
PHILHEALTH PAYABLE - 123,160 120,923
SSS/ECC CONTRIBUTIONS PAYABLE - 140,931 136,753
BUS. WHT PAYABLE - COMPENSATION - 43,420 49,262
AP OTHERS-AFFILIATES - 55,430,789 -
ACCOUNTS PAYABLE - TRADE - 28,453,471 12,237,447
INCOME TAX PAYABLE - 8,260,566 231,131
ACCOUNTS PAYABLE-OTHERS - 5,535,446 35,337,491
ACCRUED EXPENSE OTHERS - 37,508,306 15,149,692
BUS. WHT PAYABLE - EXPANDED - 1,496,383 1,424,429
ACCRUED 13TH/14TH MONTH PAY - 332,403 -
CUSTOMER'S DEPOSIT - 424,088 -
OUTPUT TAX - 3,802,499 2,153,843
DEFERRED OUTPUT TAXES - 2,896,362 522,441
TOTAL LIABILITIES

SHAREHOLDERS EQUITY
CAPITAL STOCK - 532,000,000 -
RETAINED EARNINGS - 421,300,000 -
ADDITIONAL PAID-IN CAPITAL - 314,000,000
NON-CONTROLLING INTEREST -254,708,901
TOTAL SHAREHOLDERS EQUITY
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY
Credit End Balance

11,000,000 611,200,000
46,000,000 746,850,000
42,000,000 12,650,000
98,300,000 26,400,000
82,000,000 15,500,000
6,100,000 82,853,000
- 76,847,187
- 26,800,000
4,656,705 93,631,711
13,500,000 6,625,000
- 5,420,000
50,000,000
- 16,430,000
6,689 6,689
- 3,631,461
- 2,500,000
54,000 2,246,000
- 696,239
- 557,658
7,134 385,385
- 250,000
752 86,236
654,148,414 729,383,945
17,848 61,394
- 50,000
5,911 39,405
- 11,284
3,245 - 48,526
15,119 - 191,499
13,673 - 333,862
197,070 - 5,120,337
250,000 - 7,508,900
2,497,909,468

3,521 - 2,136.96
3,120 - 4,560.00
 4,568 - 4,932.93
6,650 - 8,887.50
23,403 - 27,581.70
40,132 - 34,289.78
- - 55,430,789.04
21,215,841 - 37,431,864.62
7,121,614 - 15,151,048.73
35,181,350 - 5,379,304.97
21,524,134 - 43,882,748.45
2,227,642 - 2,299,596.04
49,742 - 382,145.35
- - 424,088.12
516,171 - 2,164,826.86
1,226,400 - 3,600,322.11
- 895,613,068.16

21,300,000 - 553,300,000.00
58,987,499 - 480,287,499.00
- 314,000,000.00 ADJUSTED*
-254,708,901
- 1,602,296,400.00
- 2,497,909,468
 PRO-FORMA STATEMENT OF COMREHENSIVE INCOME
CONSO

Account Name End Balance

REVENUE

SALES - 305,029,078
DIVIDEND INCOME - 44,845,000
MANAGEMENT FEE-OTHERS - 23,910,212
RENTAL INCOME - 26,000,000
MANAGEMENT FEE - 2,742,219
MISCELLANEOUS INCOME - 6,056,723
INTEREST INCOME - 87,904
GAIN OR LOSS ON ASSET - 35,195
TOTAL REVENUE - 408,706,332

Account Name End Balance

***** EXPENSE
COST OF SALE 266,592,587
PROVISION FOR INCOME TAX EXPENSE 16,754,697
MANAGEMENT FEE EXPENSE 14,000,000
SALARIES & WAGES 3,397,386
DL-CONTRACT LABOR 3,350,031
TRANSPORTATION AND TRAVEL EXPENSE 2,053,379
DEPRECIATION EXPENSE-TRANSPORTATION EQUIPMENT 1,827,427
PROVISION FOR LITIGATION EXPENSE 1,000,000
TAXES AND LICENSES 534,584
PROFESSIONAL FEE 521,517
ELECTRICITY 386,076
TRAVEL EXPENSES 370,990
AMORTIZATION-SOFTWARE 196,324
REPRESENTATION AND ENTERTAINMENT 183,451
TRANSPORTATION & OTHER ALLOW 169,800
REPAIRS & MAINTENANCE 164,288
TELEPHONE AND MOBILE EXPENSES 155,678
JANITORIAL SERVICES 154,255
DEPRECIATION EXPENSE - COMPUTER EQUIPMENT 145,543
DEPRECIATION EXPENSE - LEASEHOLD IMPROVEMENTS 136,459
FOOD & SUBSISTENCE 63,720
 SSS/MED/PAG-IBIG/MAT/ECC 231,044
EMPLOYEES' BENEFITS EXPENSES 50,955
RENTAL FEE - PHOTOCOPIER MACHINE 110,760
MISCELLANEOUS EXPENSES 37,904
MISCELLANEOUS EXPENSES 38,868
INSURANCE EXPENSE 37,551
TRAINING EXPENSES 33,827
TRANSPORTATION & OTHER ALLOW 29,743
FUEL EXPENSE 16,518
MEALS AND OTHER ALLOWANCE 7,253
DEPRECIATION EXPENSE-COMMUNICATION EQUIPMENT
NOTARIAL EXPENSE 2,442
REPAIRS AND MAINTENANCE 1,184
BANK CHARGES 1,150
ADVERTISING AND MARKETING EXPENSE - 27,550
***** DEPRECIATION EXPENSE- OFFICE EQUIPMENT 48,109
PURCHASE DISCOUNT - 1,128,895
13TH MONTH PAY AND OTHER BENEFITS 1,474,893
SHARED COST- EXECUTIVE 927,414
***** SHARED COST- INTEREST EXPENSE 302,465

SHARED COST- OTHERS 227,075

POSTAGE 5,565
VAT PAYABLE 225,242
INPUT TAX 2,084,320
SHARED COST-RRE 571,200
SHARED COST 3,713,511
SHARED COST- IT 1,665,716
SHARED COST- CORPORATE SERVICES 1,592,021
TOTAL EXPENSE 324,438,476
NET INCOME BEFORE TAX - 84,267,855
INCOME TAX 30% - 25,280,357
NET INCOME AFTER TAX - 58,987,499
** SALES DISCOUNT
334,020

** COST OF GOODS SOLD MANUFACTURED AND COST OF GOODS STATEMENT

DIRECT MATERIALS:
MATERIALS INVTY, BEG 50,000,000
NET PURCHASE OF MATERIALS 4,650,000
MATERIALS AVAILABLE FOR USE 54,650,000
MATERIALS INVTY, END 12,650,000
MATERIALS USED/PRODUCTION 42,000,000

DIRECT LABOR:
DIRECT LABOR 25,000,000

FACTORY OVERHEAD:
INDIRECT MATERIALS USED 20,000,000
INDIRECT LABOR 10,000,000
DEPRECIATION 1,492,587
INSURANCE* 5,000,000
GEN. FACTORY OH COST 5,000,000
TOTAL MANUFACTURING COST 108,492,587
WORK IN PROCESS INVTY, BEG 112,500,000
TOTAL COST TO ACCOUNT FOR 220,992,587
WORK IN PROCESS INVTY, END 26,400,000
COST OF GOODS SOLD MANUFACTURED 194,592,587
FG, BEG 87,500,000
COGAS 282,092,587
FG, END 15,500,000
COST OF GOODS SOLD 266,592,587
ASSETS
Account Name Beginning
End Balance
Balance
CIB BDO SAVINGS ACCOUNT ### 611,200,000
CIB BDO CHECKING ACCOUNT ### 746,850,000
INVENTORY, ENDING ### 238,100,000
DUE FROM AFFILIATES ### 82,853,000
INVESTMENTS ### 76,847,187
TRANSPORTATION EQUIPMENT ### 26,800,000
ACCOUNTS RECEIVABLE-TRADE ### 93,631,711
ADVANCES TO TRUCKERS-LIQUIDATION ### 11,303,696
DIVIDEND RECEIVABLE ### 6,625,000
OFFICE BUILDING ### 5,454,320
FACTORY BUILDING ### 50,000,000
FACTORY EQUIPMENT ### 16,000,000
PREPAID TAXES ### 6,689
ACCOUNTS RECEIVABLE-OTHERS ### 3,631,461 *****
MONEY MARKET PLACEMENTS ### 2,500,000
OFFICE EQUIPMENT ### 2,300,000
IT TECHNICAL SUPPORT ### 696,239
ADVANCES TO VENDORS ### 691,318
LEASEHOLD IMPROVEMENT ### 557,658
PREPAID EXPENSES-OTHERS ### 385,385
REVOLVING FUND-OPERATIONS ### 250,000
ADVANCES TO EMPLOYEES-LIQUIDATION ### 133,331
DUE TO AFFILIATES- ### 120,249
PREPAID RENT ### 91,224
OFFICE SUPPLIES ### 86,236
CREDITABLE WITHHOLDING TAX EXPENSE ### 729,383,945
SPECIAL PROJECTS ### 67,674
SOFTWARE ### 61,394
PETTY CASH FUND ### 50,000
PREPAID INSURANCE EXPENSES ### 39,405
MS USED EQUIPMENT AND SMALL TOOLS ### 13,351
COMMUNICATION EQUIPMENT ### 11,284
A/D-COMMUNICATION EQUIPMENT ### - 4,702
A/D-OFFICE EQUIPMENT ### - 48,526
A/D-LEASEHOLD IMPROVEMENTS ### - 191,499
A/D-COMPUTER EQUIPMENT ### - 333,862
A/D-TRANSPORTATION EQUIPMENT ### - 5,120,337
ADVANCES ON SSS SICKNESS/MATERNITY ### 30,000
REVOLVING FUND-GASOLINE ### 25,000
PREPAID TELEPHONE AND MOBILE EXPENSES ### 3,700
GIFTS,DONATIONS AND CONTRIBUTIONS ### 45,586
TOTAL ASSETS 2,701,147,115

LIABLITIES
SSS LOANS PAYABLE ### - 2,137
HDMF CONTRIBUTIONS PAYABLE ### - 4,560
HDMF LOANS PAYABLE ### - 4,933
PHILHEALTH PAYABLE ### - 8,888
SSS/ECC CONTRIBUTIONS PAYABLE ### - 27,582
BUS. WHT PAYABLE - COMPENSATION ### - 34,290 *****
AP OTHERS-AFFILIATES ### - 55,430,789
ACCOUNTS PAYABLE - TRADE ### - 37,431,865
INCOME TAX PAYABLE ### - 15,151,049 *****
ACCOUNTS PAYABLE-OTHERS ### - 5,379,305
ACCRUED EXPENSE OTHERS ### - 43,882,748
BUS. WHT PAYABLE - EXPANDED ### - 2,299,596
ACCRUED 13TH/14TH MONTH PAY ### - 382,145
CUSTOMER'S DEPOSIT ### - 424,088
OUTPUT TAX ### - 2,164,827
DEFERRED OUTPUT TAXES ### - 3,600,322
TOTAL LIABILITIES - 895,613,068
SHE
CAPITAL STOCK ### - 37,500,000
RETAINED EARNINGS ### - 17,941,339 RE????
DIVIDEND PAYABLE ### -
- 55,441,339
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY - 951,054,408
REVENUE
GAIN OR LOSS ON ASSET - 35,195 -
INTEREST INCOME - 86,992 -

MANAGEMENT FEE - 2,642,846 -

MISCELLANEOUS INCOME - 5,906,487 -
MANAGEMENT FEE-OTHERS - 22,603,632 -
RENTAL INCOME - 23,000,000 -
DIVIDEND INCOME - 4,845,000 -
TRUCKING SERVICE REVENUE - 293,127,940 387,469
TOTAL REVENUE

EXPENSE

TRUCKING COST EXPENSE 282,456,552 5,912,778

PROVISION FOR INCOME TAX EXPENSE 9,633,083 7,121,614
MANAGEMENT FEE EXPENSE 14,000,000 -
SALARIES & WAGES 3,524,466 367,266
DL-CONTRACT LABOR 3,188,963 294,272
TRANSPORTATION AND TRAVEL EXPENSE 2,009,519 62,611
DEPRECIATION EXPENSE-TRANSPORTATION EQUIPMENT 1,630,357 197,070
PROVISION FOR LITIGATION EXPENSE 1,000,000
TAXES AND LICENSES 500,000 34,829
PROFESSIONAL FEE 440,517 81,000
ELECTRICITY 361,076 25,000
TRAVEL EXPENSES 370,990 -
AMORTIZATION-SOFTWARE 178,476 17,848
REPRESENTATION AND ENTERTAINMENT 174,802 16,447
TRANSPORTATION & OTHER ALLOW 139,800 32,239
REPAIRS & MAINTENANCE 137,342 26,946
TELEPHONE AND MOBILE EXPENSES 141,689 19,129
JANITORIAL SERVICES 137,616 16,639
DEPRECIATION EXPENSE - COMPUTER EQUIPMENT 131,870 13,673
DEPRECIATION EXPENSE - LEASEHOLD IMPROVEMENTS 121,340 15,119
FOOD & SUBSISTENCE 55,705 8,566
SSS/MED/PAG-IBIG/MAT/ECC 210,697 22,843
EMPLOYEES' BENEFITS EXPENSES 40,835 10,120
RENTAL FEE - PHOTOCOPIER MACHINE 102,760 8,000
MISCELLANEOUS EXPENSES 39,216 132
MISCELLANEOUS EXPENSES 38,868 -
INSURANCE EXPENSE 31,641 8,855
TRAINING EXPENSES 33,827 -
TRANSPORTATION & OTHER ALLOW 24,438 8,397
FUEL EXPENSE 16,518 -
MEALS AND OTHER ALLOWANCE 7,291 -
DEPRECIATION EXPENSE-COMMUNICATION EQUIPMENT 4,231 470
NOTARIAL EXPENSE 2,365 500
REPAIRS AND MAINTENANCE 1,314 -
BANK CHARGES 1,150 -
ADVERTISING AND MARKETING EXPENSE - 27,550 -
PURCHASE DISCOUNT 0 -
DEPRECIATION EXPENSE- OFFICE EQUIPMENT 44,864 3,245
TRUCKING DISCOUNT - 1,127,928 -
13TH MONTH PAY AND OTHER BENEFITS - 1,474,893
SHARED COST- EXECUTIVE 927,414 -
SHARED COST- INTEREST EXPENSE 302,477 -
SHARED COST- OTHERS 227,075 -
POSTAGE 4,726 839
VAT PAYABLE 225,242 -
INPUT TAX 1,442,950 2,249,407
SHARED COST-RRE 571,200 -
SHARED COST 2,407,807 2,030,704
SHARED COST- IT 1,665,716 -
SHARED COST- CORPORATE SERVICES 1,592,021 -
TOTAL EXPENSE
NET INCOME BEFORE TAX
INCOME TAX AS OF THE MOMENT
NET INCOME AFTER TAX
 - - 35,195
912 - 87,904

99,374 - 2,742,219
150,236 - 6,056,723
1,306,579 - 23,910,212
3,000,000 - 26,000,000
40,000,000 - 44,845,000
12,288,607 - 305,029,078
- 408,706,332

21,776,744 266,592,587
- 16,754,697
- 14,000,000
494,346 3,397,386
133,204 3,350,031
18,752 2,053,379
- 1,827,427
1,000,000
245 534,584
- 521,517
- 386,076
- 370,990
- 196,324
7,799 183,451
2,237 169,801
- 164,288
5,141 155,678
- 154,255
- 145,543
- 136,459
550 63,720
2,495 231,044
- 50,955
- 110,760
34 39,314
- 38,868
2,945 37,551
 - 33,827
3,093 29,743
- 16,518
- 7,291
- 4,702
- 2,865
- 1,314
- 1,150
- - 27,550
- 0
- 48,109
967 - 1,128,895
- 1,474,893
- 927,414
- 302,477
- 227,075
- 5,565
- 225,242
1,608,038 2,084,320
- 571,200
725,000 3,713,511
- 1,665,716
- 1,592,021
324,445,192
- 84,261,139
- 25,278,342
- 58,982,797