Philcomsat Holdings Corporation (PHC) is an investment holding company that manages a portfolio by investing in the equities market, short- and medium-term instruments, and fixed-income securities. PHC, directly or through its wholly-owned subsidiary, Philcomsat Management Enterprises, Inc. (PMEI), invests in operating companies with the objective of maximizing returns to the shareholders. PHC has no investment, nor does it have a product or service that contributes ten percent (10%) or more to its revenues. PHC is a subsidiary of the Philippine Communications Satellite Corporation ("Philcomsat") which owns seventy-nine percent (79%) of the outstanding capital stock of the Corporation.