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. The Corporation owns the second floor of the Pacific Star Building on Sen. Gil Puyat Ave in Makati City, from which it derives rental income. 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 Philippine Communications Satellite Corporation ("PHILCOMSAT") which owns seventy-nine percent (79%) of the outstanding capital stock of the Corporation.