Philippine National Construction Corporation

Philippine National Construction Corporation

Formerly	Construction and Development Corporation of the Philippines (1966-1983)
Company type	Public
Traded as	PSE: PNC (trading suspended since May 2008)
Industry	Construction and civil engineering
Founded	Manila, Philippines (1966)
Headquarters	Parañaque, Philippines
Key people	Josefa I. Aquino (chairman emeritus) Herculano C. Co (chairman) Miguel E. Umali (president & CEO) Abraham A. Purugganan (EVP & COO)
Products	Architecture services Engineering services Infrastructure development Toll road management
Revenue	₱287.3 million (2021)[1]
Net income	₱4.063 billion (2021)[1]
Number of employees	56[2]
Website	www.pncc.ph

The Philippine National Construction Corporation (PNCC) is a government-owned and controlled corporation (GOCC) in the Philippines. It is the largest construction company in the Philippines and in Southeast Asia.

It is usually tasked with major construction works, especially in the field of infrastructure. The PNCC has extensive operations in the Philippines, and has also been involved in projects and has or had operations in various other countries, notably in Saudi Arabia, Iraq, Hong Kong, Malaysia, and Indonesia.

History

The PNCC was established in 1966 by virtue of an executive order during the administration of the Former President Ferdinand Marcos as the Construction and Development Corporation of the Philippines (CDCP), with the corporation being led by Rodolfo Cuenca, a crony. It was granted a 50-year franchise to commission and perform construction works throughout the Philippines.

In 1977, Presidential Decree No. 1113 was issued, granting the CDCP a 30-year franchise to operate and maintain the various limited-access toll highways in the Philippines. The CDCP changed its name to its present name in 1983 after the infusion of additional equity from the government since 1981. The PNCC is now under the full supervision of the Office of the Secretary of the Department of Trade and Industry by virtue of the Executive Order 331, issued last July 16, 2004.

Projects

The PNCC has been involved in various projects over the years. Some of its most famous projects were the San Juanico Bridge, the Metro Manila Skyway, North and South Luzon Expressways, the Manila Light Rail Transit System, the Manila–Cavite Expressway and Bay City.

Ownership^[3]

• Government of the Philippines *: 39.64%
• Government Service Insurance System: 23.75%
• Wellex Petroleum, Inc. (possibly related to the family of Senator Win Gatchalian): 13.32%
• PCD Nominee Corporation**(public stock) : 5.92%
• Others: 17.37%

*excludes 25,500,000 or 12.75% of "Preferred D" class of shares
**While the Philippine Central Depository (PCD) is listed a shareholder, it is more of a trustee-nominee for all shares lodged in the PCD system rather than a single owner/shareholder. Major beneficial shareholders (i.e. those who own at least 5% of outstanding capital stock with voting rights) hidden, if any, under the PCD system are checked/identified and are disclosed with the Definitive Information Statement companies are submitting annually to the local bourse and Securities and Exchange Commission ^[4][5]

Subsidiaries

PNCC is divided into the following subsidiaries or affiliates:

• Dasmariñas Industrial and Steelworks Corporation
• Traffic Control Products Corporation
• South Metro Manila Skyway Project
• NLEX Corporation
• SMC SLEX Inc.

References

1. Annual Audit Report on the Philippine National Construction Corporation For the Years Ended December 31, 2021 and 2020 (PDF) (Report). Commission on Audit. July 8, 2022. Retrieved December 31, 2022.
2. https://www.pncc.ph/LINKS/PDFs/2023%20ANNUAL%20REPORT%20FINAL.pdf
3. https://www.pncc.ph/LINKS/PDFs/2023%20ANNUAL%20REPORT%20FINAL.pdf
4. "PAGE 11 - DEFINITIVE Information Statement of [GLOBE TELECOM], INC" (PDF). Globe Telecom - Investor Relations. Retrieved April 4, 2024.
5. https://www.pds.com.ph/wp-content/uploads/2023/01/Disclosure-No.-345-2023-Public-Ownership-Report-as-of-December-31-2022.pdf

External links

• Philippine National Construction Corporation Website
• Department of Trade and Industry