Court of Tax Appeals · Third Division

Ehs Lens Philippines, Inc. vs. Commissioner of Internal Revenue

CTA Case No. 9014 August 31, 2017 BAUTISTA

REPUBLIC OF THE PHILIPPINES

Court ofT ax Appeals

QUEZON CITY

Third Division

EHS LENS PHILIPPINES, INC. (formerly CTA CASE NO. 9014

HOYA LENS MANUFACTURING

PHILIPPINES, INC.),

Petitioner,

versus -

Members:

BAUTISTA, Chairperson

FABON-VICTORINO, and

RINGPIS-LIBAN, 11·

COMMISSIONER OF

INTERNAL Promulgated:

REVENUE,

Respondent. AUG ·~ 1 2017

C--e---

'2 .· t> 7 p .......

X-----------------------------------------------------------------------------------------X

AMENDED DECISION

BAUTISTA, J:

For resolution is petitioner's Motion for Reconsideration filed on May 22, 2017; with respondent's Opposition (To Petitioner's Motion for Reconsideration dated 22 May 2017) filed on June 21,2017. On April19, 2017, the Court rendered a Decision, the dispositive portion of which reads as follows:

WHEREFORE, premises considered, the instant Petition for Review is hereby DENIED for lack of merit.

SO ORDERED.l

In the assailed Decision, the Court found that the administrative claim filed on March 18,2015, as supplemented on March 19,2015, and the Petition for Review filed on March 20,2015, were both timely filed. However, it pointed out that petitioner has no personality to file the claims for refund. Applying the doctrine in Contex Corporation v.

Commissioner of Internal Revenue2, the Court found that in both cases,

(¹) the taxpayer was charged by its suppliers for input VAT in its purchases, (²) the taxpayer's suppliers remitted the VAT to the BIR, (³) the taxpayer is claiming exemption from VAT, and (⁴) consequently, the taxpayer sought the refund of the VAT paid under Section 229 of the 1997 NIRC. Thereafter, the Court declared that petitioner is not the proper entity to file the refund; and that it should be PEOI-PEOCI and EPPI who should have filed the same and from whom petitioner should have claimed reimbursement for the VAT erroneously paid. Accordingly, the Petition for Review was denied. In petitioner's Motion for Reconsideration, it avers that it is the proper party to file the case. It claims that the sale and purchase transactions between PEOI-PEOCI and EPPI, the sellers and petitioner as buyer are considered VAT -exempt since both sellers and buyer are PEZA-registered enterprises; and that no VAT should have been imposed and paid. It argues that, as a general rule, it is the statutory taxpayer that has legal personality to claim for refund indirect taxes; that VAT is an indirect tax; and that, however, the general rule admits of an exception, that is, when the party who carries the burden of the tax is exempt from both indirect and direct taxes. On May 25, 2017, the Court ordered respondent to file his comment on petitioner's Motion for Reconsideration within fifteen (15) days from notice. Records reveal that respondent received the Resolution on May 29, 2017. Hence, he had until June 13, 2017 to file his comment.

On June 16,2017, the Judicial Records Division issued a Records Verification Report stating that respondent failed to submit its comment.

On June 21,2017, respondent filed its Opposition (To Petitioner's Motion for Reconsideration dated 22 May 2017) dated June 13,2017. In the interest of substantial justice, the Court admits the same. Respondent counters that the Court correctly ruled that petitioner is not the proper party to file the refund claims; and that petitioner did not present any compelling ground to justify the reversal of the Decision.

The Court finds reasonable grounds to reverse its Decision dated April19, 2017. Accordingly, petitioner's Motion for Reconsideration is hereby PARTIALLY GRANTED, as to the reconsideration and setting aside of the Court's Decision dated April19, 2017. Petitioner cites the Supreme Court case of Philippine Airlines, Inc.

v. Commissioner of Internal Revenue3, wherein the Highest Tribunal stated that, as a general rule, it is the statutory taxpayer which has the legal personality to file a claim for refund as provided under Section 204(c) of the 1997 NIRC; that the proper party to seek a refund of an indirect tax is the statutory taxpayer; and that the statutory taxpayer is the person on whom the tax is imposed by law and who paid the same even if he shifts the burden thereof to another. However, the Supreme Court declared that the general rule should not apply to instances wherein the law clearly grants the party, to which the economic burden of the tax is shifted, an exemption from both direct and indirect taxes; and that, in which case, the latter must be allowed to claim a tax refund even if it is not considered as the statutory taxpayer under the law.

Looking into the records, the Court finds that petitioner EHS Lens Philippines Inc., formerly Hoya Lens Manufacturing Philippines Inc. is registered with the Philippine Economic Zone Authority ("PEZA") as an Ecozone Export Enterprise ("EEE") and an Ecozone IT Enterprise ("EITE") as of January 17, 2013, with Certificate of Registration No. 13-06.4 Petitioner took over the projects and all the rights and obligations of PEOI-PEOCI under its Registration Agreement with PEZA dated March 14, 2005, and its Supplemental Agreements dated July 15, 2009, January 26, 2010, March 18, 2011, and December 9, 2011.

The Court agrees with petitioner's claim that entities registered with PEZA are VAT-exempt. In the case of Commissioner of Internal Revenue v. Toshiba Information Equipment (Phils.), Inc.s, the Supreme Court declared that PEZA-registered enterprises, which would necessarily be located within ECOZONES, are VAT-exempt entities, not because of Section 24 ofRA No. 7916, which imposes the five percent (5%) preferential tax rate on gross income of PEZA-registered

enterprises, in lieu of all taxes; but, rather, because of Section 8 of RA No. 7916 which establishes the fiction that ECOZONES are foreign territory. Likewise, the Highest Tribunal stated that Toshiba is basing its claim for tax credit or refund on Sec. 4.106-1(b) ofRR No. 7-95, which allows a VAT-registered person to apply for tax credit or refund of the input VAT on its capital goods. In which case, the one entitled to the tax credit or refund is the purchaser of the capital goods. As provided in the assailed Decision, petitioner entered into an Asset Purchase Agreement6 with PEOI-PEOCI on February 1, 2013 wherein petitioner undertook to pay the amount of USD20,559,732.18, exclusive of VAT, which shall be borne by petitioner and paid to PEOF in exchange of all of PEOI's rights, title and interest in and to the following:s DESCRIPTION

NET BOOK VALUE

Inventory (Finished Goods, Work in Process, Raw Materials) USD 5,916,039.31 Other Inventory 1,765,128.08 Prepaid Expenses 45,122.00 Other Current Assets 146,315.78 Tangible Fixed Assets 12,052,017.05 Intangible Fixed Assets 338,450.83 Other Investment 296,659.13

PURCHASE PRICE (GRAND TOTAL)

USD 20,559,732.18 Likewise on February 1, 2013, petitioner entered into a Deed of Sale and Assignment9 with EPPI, wherein petitioner agreed to pay the purchase price of USD4,123,216.07, exclusive of VAT to be borne by petitioner and paid to EPPI, for EPPI real properties and leasehold rights,1o as follows:n DESCRIPTION

NET BOOK VALUE

Fixed Assets (Building & Structure) USD 1,880,439.59 Prepaid Expenses (Land Rights) 2,242,776.48

PURCHASE PRICE (GRAND TOTAL)

USD 4,123,216.07 6 Petitioner's Evidence Folder, Exhibit "P-3," PEOI-PEOCI Asset Purchase Agreement, pp. 1-6; BIR Records, PEOI-PEOCI Asset Purchase Agreement, pp. 15-20. 7 Petitioner's Evidence Folder, Exhibit "P-3, 11 PEOI Asset Purchase Agreement, pp. 1-2; BIR Records, PEOI-PEOCI Asset Purchase Agreement, pp. 19-20. s Petitioner's Evidence Folder, Exhibit "P-3, II PEOI Asset Purchase Agreement, Grand Summary for Annex,

p. 1; BIR Records, PEOI Asset Purchase Agreement, Grand Summary for Annex, p. 14. 9 Petitioner's Evidence Folder, Exhibit "P-4, 11 EPPI Deed of Sale and Assignment, pp. 1-9; BIR Records, EPPI Deed of Sale and Assignment, pp. 8-13. lO Petitioner's Evidence Folder, Exhibit "P-4-a, II EPPI Deed of Sale and Assignment, pp. 1-2. 11 Petitioner's Evidence Folder, Exhibit "P-4-f,ll EPPI Deed of Sale and Assignment, Grand Summary for Annex, p. 1; BIR Records, EPPI Deed of Sale and Assignment, Grand Summary for Annex, p. 7.

It is undisputed that the BIR received the amounts of Php8,287,503.1812 from EPPI and Php60,492,742.4613 from PEOI- PEOCI on March 21,2013 for the tax transaction in February 2013; and that EPPI and PEOI-PEOCI filed the following Monthly VAT Declarations for February 2013: TAXPAYER'S

VA TABLE

OUTPUT VAT

TOTAL ALLOWABLE

VAT PAYABLE

EXHIBIT NAME SALES/RECEIPT DUE

INPUT VAT

EPPI Php 70,089,110.70 Php 8,410,693.28 Php 123,190.10 Php 8,287,503.18 P-2514 PEOI-PEOCI 504,106,187.19 60,492,742.46 - 60,492,742.46 P-2615 TOTAL PHP 68,780,245.65 The details of the purchased assets and its corresponding VAT amounting to Php68,903,435.7416, the subject claim of the amended petition, are presented in Annex '''A." On January 14, 2015, PEOI-PEOCI and EPPI respectively issued the following Billing Invoice17 and Sales Invoice18: DETAILS AMOUNT Tangible and Intangible Fixed Assets from PEOI-PEOCI Total VA Table Sale USD 12,390,467.88 Add: VAT 1,486,856.15

TOTAL SELLING PRICE

USD 13,877,324.03 Building & Structure from EPPI Total VA Table Sale USD 1,722,726.08 Add: VAT 206,727.13

TOTAL SELLING PRICE

USD 1,929,453.21 The VAT that was remitted to the BIR by PEOI-PEOCI and EPPI can be converted to Philippine Pesos, as follows: VAT in USD (PEOI-PEOCI) BSP closing forex rate as of Feb. 1, 2013 USD Php 1,486,856.15 40.685 12 Petitioner's Evidence Folder, Exhibit "P-23," EPPI BIR eFPS Payment Details, p. 1. BIR Records, EPPI eFPS Payment Details, p. 1. 13 Petitioner's Evidence Folder, Exhibit "P-24," PEOI-PEOCI BIR eFPS Payment Details, p. 1; BIR Records, PEOI-PEOCI BIR eFPS Payment Details, p. 4. 14 Petitioner's Evidence Folder, Exhibit "P-25," EPPI BIR Form No. 2550-M, p. 1; BIR Records, EPPI BIR Form No. 2550-M, p. 3. 15 Petitioner's Evidence Folder, Exhibit "P-26," PEOI-PEOCI BIR Form No. 2550-M, p. 1; BIR Records, PEOI-PEOCI BIR Form No. 2550-M, p. 6. 16 Rounding off difference of .24. 17 Petitioner's Evidence Folder, Exhibit "P-22," PEOI-PEOCI Billing Invoice, p. 1; BIR Records, PEOI- PEOCI Billing Invoice, p. 93, with annex. 18 Petitioner's Evidence Folder, Exhibit "P-21," EPPI Sales Invoice, p. 1; BIR Records, EPPI Sales Invoice,

p. 91, with annexes.

CTACASEN0.9014

I vAT REMITTED BY PEOI-PEOCI TO BIR I PHP 60,492,742.461 VAT in USD (EPPI) USD 206,727.13 BSP closing forex rate as of Feb. 1, 2013 Php 40.685

VAT REMITTED BY EPPI TO BIR

PHP 8,410,693.28 Section 113(A)(1) of the 1997 National Internal Revenue Code, as amended ('1997 NIRC") and Section 4.113-1(A)(1) of Revenue Regulation ("RR") No. 16-05, are quoted hereunder for easy reference: SEC. 113. Invoicing and Accounting Requirements for VAT- registered Persons. - (A) Invoicing Requirements. - A VAT-registered person shall issue:

(1) A VAT invoice for every sale, barter or exchange of goods or properties; and SEC. 4.113-1. Invoicing Requirements.- (A) A VAT -registered person shall issue:- (1) A VAT invoice for every sale, barter or exchange of goods or properties; and XXX XXX XXX Only VAT-registered persons are required to print their TIN followed by the word 'VAT' in their invoice or official receipts. Said documents shall be considered as a 'VAT Invoice' or VAT official receipt.

All purchases covered by invoices/receipts other than VAT Invoice/VAT Official Receipt shall not give rise to any input tax. Pursuant to Section 113 (A)(l) of the 1997 NIRC, a VAT invoice should be issued for every sale, barter or exchange of goods or properties, thus, the Billing Invoice issued by PEOI-PEOCI to the petitioner is not proof that the asset purchase transaction between the parties was consummated. Therefore, the VAT that was remitted by PEOI-PEOCI to the BIR amounting to Php60,492,742.46 cannot be the proper subject for a refund claim. I

In this regard, only petitioner's transaction with EPPI may qualify for refund amounting to Php8,287,503.18. Petitioner incurred output VAT in the total amount of Php31,305,974.24 from March 31,2013 to March 31,2015, summarized as follows:

PERIOD FISCAL

OUTPUT VAT

EXHIBIT

QUARTER ENDED

March 31, 2013 Php 7,465.86 P-58-1, Line 15B June 30,2013 266.40 P-58-2, Line 15B September 30,2013 99.90 P-58-3, Line 15B December 31,2013 20,674.20* P-58-4, Line 15B March 31,2014 18,860.78* P-58-5, Line 15B June 30, 2014 19,464.80* P-58-6, Line 15B September30,2014 17,504.65* P-58-7, Line 15B December 31,2014 20,035.76* P-58-8, Line 15B March 31,2015 31,201,601.89** P-58-9, Line 15B TOTAL PHP 31,305,974.24 *This pertains to VAT paid by the petitioner to the Bureau of Customs in favor of its local customer Hoya Lens Philippines, Inc. As represented by management, this should not be recognized as part of the input VAT per VAT returns and is expected to be reimbursed from the local customer. **This pertains to adjustments in input tax over the acquisition of assets from EPPI and PEOI-PEOCI after final selling price was agreed for the quarter ended March 31, 2015. From the above summary of output VAT, only the amount of Php31,201,601.89 is related to the Asset Purchase Agreement between petitioner and PEOI-PEOCI and the Deed of Sale and Assignment between petitioner and EPPI. The Court finds it proper to adopt the !CPA's notation that from this amount, only Php31,182,293.19 is actually related to the said transactions, the difference of Php19,308.70 were local sales, computed as follows: Sales Invoices issued by petitioner to EPPI: VAT per Sales Invoice No. 029419 VAT per Sales Invoice No. 029520 Total VAT per Invoice (USD) BSP closing rate as of March 31,2015 Total VAT per Invoice (Php) Per BIR Form No. 2550-Q DIFFERENCE 19 Exhibit "P-63-468." 2o Exhibit "P-63-469." USD USD Php Php PHP 463,355.45 239,848.52 703,203.97 44.34317 31,182,293.19 31,201,601.89 (19,308.70) Exhibit No.

P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d Asset Description Heated Tank Labor and Materials for the Repair of AC-13 Dust Collector (SDC-L3700BS), M/C No. A000357111 Edge Cutting Machine M/C (GL-5), M/C No. A000355756 Polishing Machine M/C No. A000348497 Auto Lens Meter LM-1000P Auto Lens Meter LM-1000P Auto Lens Meter LM-1000P Auto Lens Meter LM-1000P Auto Lens Meter LM-1000P Repair Works of AC-6A 1tSL2 EXPRESS CTO

CMX50 SURFACER

EDGE CUTTING MACHINE (GL7)

GL7 SOFTWARE IMPROVEMENT AND VERIFICATION

EDGE CUTTING MACHINE (GL7)

GL7 SOFTWARE IMPROVEMENT AND VERIFICATION

DUST COLLECTOR, M/C No. A000362178; DC DUCT (Vacuum Duct) Set-up Charge of Dust Collector

LENS WASHING MACHINE

Polymerization Oven (PLR-700), M/C NO. A000356827 Polymerization Oven (PLR-700), M/C NO. A000356828 Polymerization Oven (PLR-700), M/C NO. A000356829 Polymerization Oven (PLR-700), M/C NO. A000356830 Polymerization Oven (PLR-700), M/C NO. A000356831

U-3310 DOUBLE-BEAM SPECTROPHOTOMETER

Polymerization Oven (PLR-700), M/C NO. A000356976 Polymerization Oven (PLR-700), M/C NO. A000356977 Polymerization Oven (PLR-700), M/C NO. A000356978 Polymerization Oven (PLR-700), M/C NO. A000356979 Polymerization Oven (PLR-700), M/C NO. A000356980 Additional Compressed Air Receiver Tank Spectrum Photometer Dot-3 10L Mixing Tank (RKJS-108H), M/C NO. A000372492 10L Mixing Tank (RKJS-108H), M/C NO. A000372493

REPLACEMENT & REPAIR WORKS AT PWP SYSTEM

NEW WASHER POWER SUPPLY AND MECHANICAL WORKS

MERCURY LAMP USH-250SC

20L Mixing Tank (RKJS-108H), M/C No. A000372490 20L Mixing Tank (RKJS-108H), M/C No. A000372491 ANNEAL OVEN (PV-331), M/C No. A000371267 EDGE CUTTING MACHINE (GL7), M/C No. A000371268

GL7 SOFTWARE IMPROVEMENT AND VERIFICATION

MOLD TAPING MACHINE (JAT7) M/C No. A000371289 MOLD TAPING MACHINE (JAT7) M/C No. A000371290 MOLD CLEANER (MOC7) M/C No. A000371280 MOLD CLEANER (MOC7) M/C No. A000371281

REPLACEMENT OF AC-8

REPLACEMENT OF AC-9

REPLACEMENT OF AC-4

UPGRADE PROCESS CHILLED WATER AT OVEN ROOM A

HC AIRCONDITION REPLACEMENT AC-14 & AC-15

DIP COAT AIRCON (PAC-1) REPLACEMENT

MC CHILLER UPGRADING

PHASE II MAU (OVEN B SIDE)

ROTARY/VACUUM PUMP (USED) SGD-600

REPAIR AND REPLACEMENT OF AC-5A MOTOR COM 40TRI

RENOVATION OF AC-5 FRESH AIR SUPPLY

VACUUM COATER (CES-31-27) M/C No. A000374760 Freight Charges for Vacuum Coater Set-up Charge of Vacuum Coater

LENS METER LM-1000P

MODIFICATION OF RAINHOOD AFFECTED BY NEW BUILDING

DESK GRINDER MACHINE GR26 200V

80L MIXING TANK M/C No. A000390420

DRILL GRINDING MACHINE OSG (XT-3000) 100V

COMPRESSOR MOTOR (CARRIER)

CT MIXING RENOVATION WORKS

MOLD CLEANER (MOC3), M/C No. A000390418 MOLD TAPING (JAT4), M/C No. A000390416

UV STERILIZER #3 (PWP BACK-UP UP SUPPLY)

FOCOVISION SR-2

LENS WASHING MACHINE, M/C No. A000392116 LENS WASHING MACHINE, M/C No. A000392117 LENS WASHING MACHINE, M/C No. A000392118 LENS WASHING MACHINE, M/C No. A000392119 LENS WASHING MACHINE, M/C No. A000392120 LENS WASHING MACHINE, M/C No. A000392121 LENS WASHING MACHINE, M/C No. A000392122

MODIFICATION OF CANTEEN KITCHEN AIRCON DUCTING

POLYMERIZATION OVEN (PLR-700), M/C No. A000391459 POLYMERIZATION OVEN (PLR-700), M/C No. A000391460 POLYMERIZATION OVEN (PLR-700), M/C No. A000391461 POLYMERIZATION OVEN (PLR-700), M/C No. A000391462 POLYMERIZATION OVEN (PLR-700), M/C No. A000391463, F POLISHING MACHINE, M/C No. A000391292 F POLISHING MACHINE, M/C No. A000391293

ASM100 CNC TC-D OPTHALMICS

Auto Lens Meter LM-1000P Amount (in USD) 768.56 46.16 455.78 1,070.57 656.67 203.64 203.64 203.64 203.64 203.64 336.75 6,962.06 1,043.99 1,043.99 1,043.99 1,043.99 10,889.45 383.42 10,889.45 383.42 10,996.10 681.46 3,639.84 3,639.84 3,639.84 3,639.84 3,639.84 3,639.84 3,832.65 3,832.65 3,832.65 3,832.65 3,832.65 2,069.55 4,925.94 4,925.94 4,925.94 4,925.94 4,925.94 964.39 2,713.53 1,980.17 1,980.17 1,886.56 1,119.34 1,348.59 6,151.37 6,151.37 3,215.14 19,018.99 628.16 35,695.35 35,695.35 35,960.58 35,960.58 10,036.53 11,129.47 16,666.08 16,042.99 14,020.69 7,613.56 16,693.46 8,774.13 536.57 1,536.98 4,002.38 271,070.06 2,188.80 6,242.92 935.23 935.23 772.92 734.42 2,807.00 1,283.49 968.95 11,798.68 34,992.43 26,059.93 1,180.97 8,599.72 9,029.65 9,029.65 8,956.79 8,956.79 14,785.73 14,785.73 14,785.73, 849.82 12,134.07 12,134.07 12,134.07 12,134.07 12,134.07 7,638.66 6,979.24 90,059.03 1,163.66 BSP rate as of 2/1/13 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 Amount (in PHP) 31,268.86 1,878.16 18,543.32 43,556.29 26,716.62 8,284.98 8,284.98 8,284.98 8,284.98 8,284.98 13,700.78 283,251.40 42,474.76 42,474.76 42,474.76 42,474.76 443,037.21 15,599.56 443,037.21 15,599.56 447,376.49 27,725.13 148,087.06 148,087.06 148,087.06 148,087.06 148,087.06 148,087.06 155,931.20 155,931.20 155,931.20 155,931.20 155,931.20 84,199.64 200,411.87 200,411.87 200,411.87 200,411.87 200,411.87 39,236.18 110,400.09 80,563.35 80,563.35 76,754.69 45,540.33 54,867.34 250,268.59 250,268.59 130,808.07 773,787.57 25,556.72 1,452,265.32 1,452,265.32 1,463,056.14 1,463,056.14 408,336.38 452,802.49 678,059.53 652,709.06 570,431.84 309,757.84 679,173.60 356,975.32 21,830.20 62,532.19 162,836.91 11,028,485.35 89,051.38 253,993.14 38,049.95 38,049.95 31,446.22 29,880.03 114,202.80 52,218.79 39,421.70 480,029.30 1,423,667.04 1,060,248.12 48,047.76 349,879.50 367,371.21 367,371.21 364,406.82 364,406.82 601,557.48 601,557.48 601,557.48 34,574.76 493,674.83, 493,674.83, 493,674.83 493,674.83 493,674.83 310,778.88 283,950.34 3,664,051.60 47,343.45 Annex A

VAT TOTAL

Rate (in PHP) 12% 3,752.26 12% 225.38 12% 2,225.20 12% 5,226.76 12% 3,205.99 12% 994.20 12% 994.20 12% 994.20 12% 994.20 12% 994.20 12% 1,644.09 12% 33,990.17 12% 5,096.97 12% 5,096.97 12% 5,096.97 12% 5,096.97 12% 53,164.47 12% 1,871.95 12% 53,164.47 12% 1,871.95 12% 53,685.18 12% 3,327.02 12% 17,770.45 12% 17,770.45 12% 17,770.45 12% 17,770.45 12% 17,770.45 12% 17,770.45 12% 18,711.74 12% 18,711.74 12% 18,711.74 12% 18,711.74 12% 18,711.74 12% 10,103.96 12% 24,049.42 12% 24,049.42 12% 24,049.42 12% 24,049.42 12% 24,049.42 12% 4,708.34 12% 13,248.01 12% 9,667.60 12% 9,667.60 12% 9,210.56 12% 5,464.84 12% 6,584.08 12% 30,032.23 12% 30,032.23 12% 15,696.97 12% 92,854.51 12% 3,066.81 12% 174,271.84 12% 174,271.84 12% 175,566.74 12% 175,566.74 12% 49,000.37 12% 54,336.30 12% 81,367.14 12% 78,325.09 12% 68,451.82 12% 37,170.94 12% 81,500.83 12% 42,837.04 12% 2,619.62 12% 7,503.86 12% 19,540.43 12% 1,323,418.24 12% 10,686.17 12% 30,479.18 12% 4,565.99 12% 4,565.99 12% 3,773.55 12% 3,585.60 12% 13,704.34 12% 6,266.25 12% 4,730.60 12% 57,603.52 12% 170,840.05 12% 127,229.77 12% 5,765.73 12% 41,985.54 12% 44,084.55 12% 44,084.55 12% 43,728.82 12% 43,728.82 12% 72,186.90 12% 72,186.90 12% 72,186.90 12% 4,148.97 12% 59,240.98 12% 59,240.98 12% 59,240.98 12% 59,240.98 12% 59,240.98 12% 37,293.47 12% 34,074.04 12% 439,686.19 12% 5,681.21 f\ Exhibit No.

P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d Asset Description Auto Lens Meter LM-1000P Auto Lens Meter LM-1000P Auto Lens Meter LM-1000P ANNEAL OVEN (PV-331), M/C No. A000394391 ANNEAL OVEN (PV-331), M/C No. A000394392 POLYMERIZATION OVEN (PLR-700), M/C No. A000391464 POLYMERIZATION OVEN (PLR-700), M/C No. A000391465 POLYMERIZATION OVEN (PLR-700), M/C No. A000391466 POLYMERIZATION OVEN (PLR-700), M/C No. A000391467 POLYMERIZATION OVEN (PLR-700), M/C No. A000391468

ADDITIONAL DUCTING FOR DIPPING ROOM CLEANROOM AREA

Clean Oven (PVC-231M) M/C No. A000412719 Clean Oven (PVC-231M) M/C No. A000412720

PROCESSED CHILLED WATER FOR OVEN B

VENTILATION FOR OVEN B

EDGE CUTTING M/C (GL-5), M/C No. A000412722

SUPPLY OF PLC COMPONENTS FOR PWP

DIVERTION OF EXHAUST DUCT FROM SHIPMENT

AREA TO MC PUMP ROOM

PAD PRINTING M/C (TIV350) M/C No. A000412721 REPAIR OF DAIKIN CHILLER MODEL No. UWAJ750BAYE

(CONVERTED TO MC MAU)

Clean Oven (PVC-231) M/C No. M000296 Clean Oven (PVC-231) M/C No. M000297 NC Marking Machine, M/C No.A000441432 Auto Lens Meter LM-1000P Auto Lens Meter LM-1000P Auto Lens Meter LM-1000P POLYMERIZATION OVEN (PLR-700), M/C A000440964 POLYMERIZATION OVEN (PLR-700), M/C A000440965 POLYMERIZATION OVEN (PLR-700), M/C A000440966 POLYMERIZATION OVEN (PLR-700), M/C A000440967 PAD PRINTING M/C (TIV350) M/C No. A000443493 150KG MIXER, M/C No. A000446372

150KG MONOMER MIXING SYSTEM (SOFTWARE)

USHIO HIGH PRESSURE MERCURY LAMP (USH-250SC)

USHIO HIGH PRESSURE MERCURY LAMP (USH-250SC}

USHIO HIGH PRESSURE MERCURY LAMP (USH-250SC)

NC CENTERING MACHINE (BE-WF-502N), M/C No. A000451433

MULTICOAT WATER CHILLER FRP LINING

MODIFICATION OF CHILLED #4 WATER PIPING SYSTEM AT MC

SEM/EDX CONTROL PANEL (ANTI-VIBRATION)

FLOW MODIFICATION OF PURE WATER LINE

RELOCATION OF LIGHTING PANEL AT MOLD GASKET STOCK ROOM HUMIDITY OVEN (PH-2KT), M/C No. A000459155

MULTICOAT AC DUCTING MODIFICATION

SUPPLY AND INSTALLATION 80TR WATER CHILLER "AtUASNAP" 30RB-080

SUPPLY & INSTALLATION AIR HANDLING UNITS (AHU-6A)

SUPPLY & INSTALLATION AIR HANDLING UNITS (AHU-6B)

LEICA RM2265 MOTORIZED ROTARY MICROTOME

THERMO AVATAR FTIR

EDGE CUTTING MACHINE M/C (GL-5), M/C No. A000464083

SECONDARY SUPPORT OF CEILING AT CT ROOM

REPLACEMENT OF DEFECTIVE CAPACITORS FOR

SUBSTATION No. 1 MDB (PHASE 1 - POWERHOUSE 1)

CP COMPRESSOR UNIT C305

POLYMERIZATION OVEN (PLR-700), M/C No. A000468700 POLYMERIZATION OVEN (PLR-700), M/C No. A000468701 ACTIVATED DEODORIZER, M/C No. A000468702

USHIO HIGH PRESSURE MERCURY LAMP (USH-250SC)

MOLD CLEANER (MOC3), M/C No. A000471925 MOLD TAPING (JAT4), M/C No. A000471924

UPGRADING OF PP-AC2 (440V) PHASE 3

PORTABLE ODOR METER (STENCH SENSOR), M/C No. 005361-MM0744-1 ACTIVATED DEODORIZER, M/C No. A000471926 ACTIVATED DEODORIZER, M/C No. A000471927 ACTIVATED DEODORIZER, M/C No. A000471928 POLISHING MACHINE (TORO-X), M/C No. A000472829 POLISHING MACHINE (TORO-X), M/C No. A000472830 POLISHING MACHINE (TORO-X), M/C No. A000472831

EXHAUST DUCTING WORKS FOR MC FINAL INSPECTION

SUPPLY AND INSTALLATION OF NEW CAPACITOR FOR THE UPGRADING OF EXISTING CAPACITOR BANK FOR SUBSTATION No. 2 MDB (PHASE II) SUPPLY AND INSTALLATION OF DEMAND METER FOR MDB-1 AND MDB-2 SUPPLY AND INSTALLATION OF ELECTRICAL KWh

DEMAND MONITORING AT FACILITY ROOM

POLYMERIZATION OVEN (PLR-700), M/C No. A000474474 POLYMERIZATION OVEN (PLR-700), M/C No. A000474473 POLYMERIZATION OVEN (PLR-700), M/C No. A000474472

LP-200 LASER MAKER MACHINE REPLACEMENT COST

MODIFICATION AND ADDITIONAL CHILLED WATER CIRCULATING

PUMP INTENDED TO MC #1, 2, 3 & 4 AT MACHINE ROOM

CT DEODORIZER DUCTING WORKS

POLISHING MACHINE (TORO-X), M/C No. A000472832 VACUUM COATER (CES-34-11) M/C No. A000477402 CONSTRUCTION OF CHILLER TANK 12 cu.m. CAPACITY GRINDING MACHINE ASM-100, M/C No. A000472833 POLYMERIZATION OVEN (PLR-700) M/C No. A000481604 POLYMERIZATION OVEN (PLR-700) M/C No. A000481603 POLYMERIZATION OVEN (PLR-700) M/C No. A000481602

SELF-CONTAINED BREATHING APPARATUS VITUS3-A

SUPPLY AND INSTALLATION OF ELECTRICAL WORKS FOR MC #7 SUPPLY AND INSTALLATION OF MECHANICAL WORKS FOR MC #7 FENZY AERIS MARINE SELF-CONTAINED BREATHING APPARATUS (SCBA) ACTIVATED DEODORIZER M/C No. A000482435 ACTIVATED DEODORIZER M/C No. A000482437 POLYMERIZATION OVEN (PLR-700) M/C No. A000481605 POLYMERIZATION OVEN (PLR-700) M/C No. A000481606 Amount (in USD) 1,163.66 1,163.66 1,163.66 6,222.75 6,222.75 14,153.91 14,153.91 14,153.91 14,153.91 14,153.91 1,185.53 3,559.57 3,559.57 45,511.99 2,536.38 10,008.91 2,665.76 2,011.68 2,966.61 2,539.48 2,406.39 2,406.39 5,847.26 1,862.61 1,862.61 1,862.61 20,904.88 20,904.88 20,904.88 20,904.88 6,395.15 12,881.94 12,742.93 4,776.81 4,776.81 4,776.81 24,143.83 1,796.60 9,377.05 5,767.22 10,993.75 1,820.94 2,763.23 2,050.83 76,381.98 14,734.45 14,734.45 24,135.00 13,600.54 4,039.78 4,580.24 3,354.96 2,852.46 15,130.54 15,130.54 3,838.86 7,466.67 7,466.67 15,843.34 14,279.62 30,875.16 2,682.35 17,297.82 17,297.82 17,297.81 7,660.76 7,739.45 7,760.66 2,562.41 40,587.41 9,593.39 5,313.26 13,501.79 10,665.53 16,072.40 3,994.12 11,283.56 5,140.88 8,430.01 270,741.18 5,358.39 169,325.97 11,235.49 11,235.49 11,235.49 2,264.71 4,544.23 8,994.10 BSP rate as of 2/1/13 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 Amount (in PHP) 47,343.45 47,343.45 47,343.45 253,172.52 253,172.52 575,851.90 575,851.90 575,851.90 575,851.90 575,851.90 48,233.08 144,821.18 144,821.18 1,851,655.27 103,192.48 407,212.69 108,456.45 81,845.05 120,696.64 103,318.83 97,904.01 97,904.01 237,895.91 75,780.34 75,780.34 75,780.34 850,514.88 850,514.88 850,514.88 850,514.88 260,186.78 524,101.57 518,446.24 194,344.54 194,344.54 194,344.54 982,291.89 73,094.77 381,505.24 234,639.28 447,280.60 74,084.91 112,421.93 83,438.05 3,107,600.69 599,471.12 599,471.12 981,932.48 553,338.05 164,358.33 186,346.91 136,496.41 116,052.34 615,585.92 615,585.92 156,184.06 303,781.33 303,781.33 644,586.13 580,966.20 1,256,155.88 109,131.55 703,761.73 703,761.73 703,761.45 311,677.94 314,879.32 315,742.53 104,251.79 1,651,298.91 390,306.94 216,169.98 549,320.29 433,927.05 653,905.55 162,500.61 459,071.45 209,156.58 342,974.82 11,015,104.89 218,006.02 6,889,027 .23 457,115.83 457,115.83 457,115.83 92,139.70 184,882.11 97,036.47 86,686.82 145,796.83 145,796.83 365,924.78 365,924.78 VAT Rate 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% TOTAL (in PHP) 5,681.21 5,681.21 5,681.21 30,380.70 30,380.70 69,102.23 69,102.23 69,102.23 69,102.23 69,102.23 5,787.97 17,378.54 17,378.54 222,198.63 12,383.10 48,865.52 13,014.77 9,821.41 14,483.60 12,398.26 11,748.48 11,748.48 28,947.51 9,093.64 9,093.64 9,093.64 102,061.79 102,061.79 102,061.79 102,061.79 31,222.41 62,892.19 62,213.55 23,321.35 23,321.35 23,321.35 117,875.03 8,771.37 45,780.63 28,156.71 53,673.67 8,890.19 13,490.63 10,012.57 372,912.08 71,936.53 71,936.53 117,831.90 66,400.57 19,723.00 22,361.63 16,379.57 13,926.28 73,870.31 73,870.31 18,742.09 36,453.76 36,453.76 77,350.34 69,715.94 150,738.71 13,095.79 84,451.41 84,451.41 84,451.37 37,401.35 37,785.52 37,889.10 12,510.21 198,155.87 46,836.83 25,940.40 65,918.43 52,071.25 78,468.67 19,500.07 55,088.57 25,098.79 41,156.98 1,321,812.59 26,160.72 826,683.27 54,853.90 54,853.90 54,853.90 11,056.76 22,185.85 11,644.38 10,402.42 17,495.62 17,495.62 43,910.97 43,910.97 Exhibit No.

P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P.3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d Asset Description POLYMERIZATION OVEN (PLR-700) M/C No. A000481607 POLYMERIZATION OVEN (PLR-700) M/C No. A000481608 50L MIXING TANK WITH WEIGHING SCALE M/C No. A000481599 POLYMERIZATION OVEN (PLR-700) M/C No. A000484118 POLYMERIZATION OVEN (PLR-700) M/C No. 000484119 POLYMERIZATION OVEN (PLR-700) M/C No. 4000484120 ACTIVATED DEODORIZER M/C No. A000484065 ACTIVATED DEODORIZER M/C No. 4000484066 ACTIVATED DEODORIZER M/C No. 4000484067

REPLACEMENT OF DAIKIN COMPRESSOR 5HP (AC 43)

INSTALLATION OF 55KW OIL FREE KOBELCO AIR

COMPRESSOR WITH INTEGRATED AIR DRYER

SUPPLY AND INSTALLATION OF 43TR MC CHILLER

20L MIXING TANK PKJS-108H USED

MOLD CLEANER (MOC 6) M/C No. A000484063 MOLD TAPING MACHINE (JAT 6) M/C No, 2000484064

ALLOY BLOCKING MACHINE USED

POLYMERIZATION OVEN (PLR-700) M/C No. A000492866 POLYMERIZATION OVEN (PLR-700) M/C No. A000492867 POLYMERIZATION OVEN (PLR-700) M/C No. A000492869 POLYMERIZATION OVEN (PLR-700) M/C No. A000492870 POLYMERIZATION OVEN (PLR-700) M/C No. A000492871 POLYMERIZATION OVEN (PLR-700) M/C No. A000492872 POLYMERIZATION OVEN (PLR-700) M/C No. A000492873 MILLING MACHINE (FP-3A) M/C No.A000531081 EDGE CUTTING MACHINE (GL-5) M/C No. A000535529 EDGE CUTTING MACHINE (GL-5) M/C No. A000535530 CLEAN OVEN (PVC-231M) M/C No. A000535528 F POLISHING MACHINE M/C. No. A000534030 F POLISHING MACHINE M/C. No. A000534031 MILLING MACHINE (ZM200) M/C. No. A000534033 CHAMFERING MACHINE (VX-2) M/C. No. 4000534032 LENS WASHING MACHINE (25KHZ) M/C. No. A000536820 LENS WASHING MACHINE (40KHZ) M/C. No. A000536821 LENS WASHING MACHINE M/C. No. A000536822 GRINDING MACHINE (ASM100 CNC-TC) M/C. No. 4000495394 GROOVE POLISHING MACHINE M/C no. A000545809 POLYMERIZATION OVEN (PLR-700) MC No. A000554693 CURVE GENERATOR (SG-2) MC No. A000545810 ELECTRON GUN REMODELING CES-3t AS1, CES-3t AS2 POLISHING MACHINE (TORO-X-2000) M/C No. 000478534 POLISHING MACHINE (TORO-X-2000) M/C No. A000478535 POLISHING MACHINE (TORO-X-2000) M/C No. A000478536 POLISHING MACHINE (TORO-X-2000) M/C No. A000478537 ABRASIVE SUPPLY SYSTEM (PE-178N-2A), M/C No. A000478541 CHILLER (RKL-5500VW), M/C No. A000478538 ALLOY LAUNDRY, M/C No. A000478539

PATTERNLESS LENS EDGER LE-9000 USED

MINILAB PLUS SOFTWARE + iRX SERVER

INTELLIGENT BLOCKER ICE MINI USED

NC MARKING MACHINE USED

MEASUREMENT MICROSCOPE MM-400

TURNING MACHINE (FSC-60) M/C No. 4000477399

SYSTEM EDGER SE-9090 WITH ALUMINUM FRAME

MIXING MACHINE (TF2) M/C No. A000481601

LENS METER LM-1800PD

DEBLOCK WASH UNIT M/C No. A000482517 DEBLOCK WASH UNIT M/C No. A000482518 DEBLOCK WASH UNIT M/C No. 4000482519 DEBLOCK WASH UNIT M/C No. A000482520

3TR SPLIT TYPE CEILING CASSETTE AIR CONDITION UNIT

VARIOUS MECHANICAL WORKS FOR PRODUCTION RELATED SPECIAL

ORDER TRANSFER FOR INSPECTION, TINTING MACHINES

VARIOUS MECHANICAL WORKS FOR SPECIAL ORDER TRANSFER

- AIRCON SYSTEM FOR POLISHING (MAU)

VARIOUS MECHANICAL WORKS FOR SPECIAL ORDER TRANSFER

- VENTILATION AT TINTING AREA

VARIOUS MECHANICAL WORKS FOR SPECIAL ORDER TRANSFER

- VENTILATION AT POLISHING AREA

VARIOUS MECHANICAL WORKS FOR SPECIAL ORDER TRANSFER

- VENTILATION AT SHIPPING INSPECTION AREA

NEW HALEMATIC (NHM-III) M/C No. 4000485694 NEW HALEMATIC (NHM-III) M/C No. 000485691 NEW HALEMATIC (NHM-III) M/C No. 000485692 NEW HALEMATIC (NHM-III) M/C No. A000485693

ALLOY BLOCKING MACHINE USED

DUST COLLECTOR (SDC-3700B-AS) M/C No. A000478543

LENS METER LM-1800PD

CURVE GENERATOR SEG No. 36410-615

CURVE GENERATOR

It LENS MAKER (LENSMAKER XRT) M/C No. 4000495070 It LENS MAKER (LENSMAKER XRT) M/C No. 4000495069 SYSTEM EDGER (SE-9090) M/C No. A000496768 NEW HALFMATIC (NHM-IV) M/C. No. 000494409 NEW HALEMATIC (NHM-IV) M/C. No. 4000494410 NEW HALFMATIC (NHM-IV) M/C. No. 4000494412 NEW HALFMATIC (NHM-IV) M/C. No. 4000494413 NEW HALFMATIC (NHM-IV) M/C. No. 4000494414 NEW HALFMATIC (NHM-IV) M/C. No. 4000494415 PAD PRINTER (TIV350) M/C No. A000534034 PAD PRINTER (TIV350) M/C No. 4000534035

CMX-50 STD PIN-FINER AND POLISHER

It LENS MAKER (LENS MAKER XRT) M/C. NO. A000536823

HIGH SPEED TURNER UNIT FSC-60 NCL

STAINING WASTE FLUID ASPIRATOR

Amount (in USD) 8,968.36 8,994.10 46,870.21 12,081.59 9,965.72 11,733.92 2,431.28 2,431.28 2,431.28 2,688.68 75,569.51 72,354.92 5,466.87 76,952.91 76,340.15 2,017.30 4,646.19 4,646.19 4,646.19 4,646.19 5,687.36 5,687.36 6,304.76 14,452.48 2,678.13 2,443.82 11,383.87 16,629.79 16,629.79 5,021.03 7,217.27 33,126.18 33,126.18 33,126.19 180,025.01 41,830.71 33,071.63 28,672.35 595,493.87 10,218.42 10,218.42 10,218.32 10,218.32 9,392.76 1,714.55 10,102.76 8,406.62 7,614.75 1,894.15 6,656.26 12,980.00 11,101.50 20,277.00 10,111.10 4,147.07 4,730.27 4,730.27 4,730.27 4,730.27 4,520.55 9,314.45 53,423.28 7,053.76 6,776.36 6,198.80 2,692.87 2,535.53 2,535.53 2,535.53 2,017.30 4,194.90 4,317.91 4,317.91 4,317.91 1,792.07 1,703.12 1,809.43 37,827.09 53,736.31 17,745.06 9,559.54 9,559.54 9,559.54 9,559.54 9,559.54 9,559.53 27,951.18 6,702.58 11,320.49 11,320.49 18,928.65 26,745.10 16,589.04 BSP rate as of 2/1/13 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 Amount (in PHP) 364,877.85 365,924.78 1,906,914.39 491,539.31 405,455.16 477,394.44 98,916.48 98,916.48 98,916.48 109,388.82 3,074,545.36 2,943,759.83 222,419.69 3,130,829.06 3,105,898.92 82,074.01 189,030.38 189,030.38 189,030.38 189,030.38 231,390.18 231,390.18 256,509.00 587,999.20 108,959.72 99,426.61 463,152.85 676,583.04 676,583.04 204,280.71 293,634.43 1,347,738.80 1,347,738.80 1,347,739.18 7,324,317.51 1,701,882.63 1,345,519.42 1,166,534.48 24,227,668.24 415,736.40 415,736.40 415,732.32 415,732.32 382,144.54 69,756.60 411,030.66 342,023.25 309,806.10 77,063.44 270,809.99 528,091.30 451,664.53 824,969.75 411,369.90 168,723.34 192,451.14 192,451.14 192,451.14 192,451.14 183,918.69 378,958.19 2,173,526.15 286,982.12 275,696.31 252,197.97 109,559.21 103,158.14 103,158.14 103,158.14 82,073.84 170,669.67 175,673.96 175,673.96 175,673.96 72,910.23 69,291.30 73,616.46 1,538,995.08 2,186,261.61 721,957.79 388,929.92 388,929.92 388,929.92 388,929,92 388,929.92 388,929.55 1,137,193.89 272,694.26 460,574.31 460,574.31 770,112.00 1,088,124.29 674,924.92 VAT Rate 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% Annex A TOTAL (in PHP) 43,785.34 43,910.97 228,829.73 58,984.72 48,654.62 57,287.33 11,869.98 11,869.98 11,869.98 13,126.66 368,945.44 353,251.18 26,690.36 375,699.49 372,707.87 9,848.88 22,683.65 22,683.65 22,683.65 22,683.65 27,766.82 27,766.82 30,781.08 70,559.90 13,075.17 11,931.19 55,578.34 81,189.96 81,189.96 24,513.68 35,236.13 161,728.66 161,728.66 161,728.70 878,918.10 204,225.92 161,462.33 139,984.14 2,907,320.19 49,888.37 49,888.37 49,887.88 49,887.88 45,857.34 8,370.79 49,323.68 41,042.79 37,176.73 9,247.61 32,497.20 63,370.96 54,199.74 98,996.37 49,364.39 20,246.80 23,094.14 23,094.14 23,094.14 23,094.14 22,070.24 45,474.98 260,823.14 34,437.85 33,083.56 30,263.76 13,147.11 12,378.98 12,378.98 12,378.98 9,848.86 20,480.36 21,080.88 21,080.88 21,080.88 8,749.23 8,314.96 8,833.97 184,679.41 262,351.39 86,634.94 46,671.59 46,671.59 46,671.59 46,671.59 46,671.59 46,671.55 136,463.27 32,723.31 55,268.92 55,268.92 92,413.44 130,574.92 / 80,990.99 Exhibit No.

P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d Asset Description CENTRE LATHE (T-37-8) M/C No.A000496790 MILLING MACHINE (NKS-1) M/C No.A000496949 DRILLING MACHINE (NBD-250) M/C No.A000496789 CONTA MACHINE (KY300) M/C No.A000496791 GRINDER (FG255T) M/C No.A000495053 AIR CONDITIONER M/C No.A000496762 AIR CONDITIONER M/C No.A000496764 VACUUM COATER (CES-34-10) M/C No.A000495063

ELECTRON GUN REMODELLING (CES-34-10)

VACUUM COATER (CES-34-14) M/C No.A000495065

ELECTRON GUN REMODELLING (CES-34-14)

BLASTING MACHINE (SG-6AT-305) M/C. No. A000494421 DOT MARK MACHINE M/C No. A000494422 PROGRESSIVE MARKER M/C No. A000494400 ALIGNMENT DEVICE M/C No. A000494401 DUST EXTRACTOR M/C No. A000494407 DUST EXTRACTOR M/C No. A000494408 ALLOY LAUNDRY (SC-2591A) M/C No. A000493601 MIXING MACHINE M/C No. A000493598 WATER TANK M/C No. A000495574 NEW HALFMATIC (NHM-IV) M/C No. A000495054 NEW HALEMATIC (NHM-IV) M/C No. A000495055 NEW HALFMATIC (NHM-IV) M/C No. A000495056 NEW HALEMATIC (NHM-IV) M/C No. A000495057 NEW HALEMATIC (NHM-IV) M/C No. A000495058 NEW HALEMATIC (NHM-IV) M/C No. A000495059 NEW HALFMATIC (NHM-IV) M/C No. A000495060 NEW HALFMATIC (NHM-IV) M/C No. A000495061 NEW HALFMATIC (NHM-IV) M/C No. A000495062

GRINDING MATERIAL SUPPLY DEVICE (PE-178N-2A)

M/C No. A000494406

GRINDING MATERIAL SUPPLY DEVICE CHILLER

(RKE750A1-V-G1) M/C No. A000494416 SMALL ANNEAL FURNACE (DE410) M/C No. A000496777 SMALL ANNEAL FURNACE (DE410) M/C No. A000496778 SMALL ANNEAL FURNACE (DE410) M/C No. A000496779 COLD STORAGE WAREHOUSE (PR-0.63EPTTC16) M/C No. A000496783 FILM STRIPPING MACHINE (SC-2555A) M/C No. A000495396 STOCKER (PE-155N-1A) M/C No. A000495399 WASHER BEFORE LINE OF H(PC-12M09-16A) M/C No. A000495572 DIPPING MACHINE 1 (PC-12M02-11A) M/C No. A000494417 DIPPING MACHINE 2 (PC-12M02-12A) M/C No. A000494419 TREATMENT DEVICE WASHER (PC-24M08-4A) M/C No. A000495397 SPHERED GRINDER (SPHERO-X) M/C No. A000534037 ALLOY BLOCKER M/C No. A000494402 ALLOY BLOCKER M/C No. A000494403 SYSTEM EDGER (SE-9090) M/C No. A000495392 SYSTEM EDGER (LE-9000} M/C No. A000495391 TAPE MACHINE (NO. 1645) M/C No. A000494405 INTELLIGENT BLOCKER and NIDEK IRX SERVER

CONSTANT TEMPERATURE AND HUMIDITY

CHAMBER (PH2KT) M/C No. A000496769

DOT-3 SPECTRUM PHOTOMETER

SPECTRO PHOTOMETER USPM-RU ACCESSORIES USED

TURNING (NCL) MACHINE (FSC-60) M/C No. A000496782

CONSTANT TEMPERATURE AND HUMIDITY

CHAMBER (PH2KT) M/C No. A000496770-

CONSTANT TEMPERATURE AND HUMIDITY

CHAMBER (PH2KT) M/C No. A000496771 DRYING CHAMBER (PV-212M) M/C No. A000496775 DRYING CHAMBER (PV-212M) M/C No. A000496776 DRYING CHAMBER (PV-222M) M/C No. A000496772 DRYING CHAMBER (PV-222M) M/C No. A000496774 DRYING CHAMBER (PV-222M) M/C No. A000496773

POLISHER CMX-50

POLISHING MACHINE (CCP-102) M/C No. A000478544 TURNING MACHINE (FSC-60) M/C No. A000477398 PLASMA EtUIPMENT M/C No. A000485287 OVEN (DN43-2), M/C No. A000445393

SURFACE RESISTANCE VALUE METER

STIRRER no.

STIRRER no. 10 STIRRER no. 11 STIRRER no. 12 STIRRER no. 13 STIRRER no. 14 STIRRER no. 15 STIRRER no. 16 STIRRER no. 17 STIRRER no. 18 STIRRER no. 19 STIRRER no. 20 STIRRER no. 21 POLISHING MACHINE (CCP-102) M/C No. A000496766

NEW HALEMATIC

TURNING MACHINE (FSC-60) M/C No. A000477400

DOT-3 SPECTRUM PHOTOMETER

TALYSURF MACHINE, JIGS AND ACCESSORIES NEW HALFMATIC (NHM-IV) M/C. No. A000494411 OOBNDALRWNH Amount (in USD) 2,390.55 10,158.19 2,390.68 2,390.80 6,718.12 126,864.78 124,254.26 237,827.30 18,994.13 227,434.27 18,994.13 25,977.20 128,445.72 85,335.19 24,787.07 22,115.58 31,006.68 177,998.11 116,009.83 50,877.67 8,706.68 8,706.68 8,706.68 8,706.68 8,706.68 8,706.67 8,706.67 8,706.66 8,706.66 12,084.60 7,091.84 5,582.47 5,982.47 4,962.77 19,108.26 37,928.48 46,148.12 150,397.20 179,004.76 191,877.35 146,744.77 8,408.16 10,866.27 10,866.27 30,151.69 12,547.80 8,785.38 16,617.83 20,097.08 53,095.17 2,460.29 38,394.79 18,248.00 18,248.00 10,055.03 10,055.03 11,172.20 11,172.20 11,172.27 11,505.02 11,505.02 11,505.01 150,423.57 30,972.48 17,744.52 704.92 7,526.25 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 2,757.86 162,803.05 2,864.41 32,353.24 53,095.17 211,848.81 9,559.54 BSP rate as of 2/1/13 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 Amount (in PHP) 97,259.65 413,286.04 97,264.78 97,269.54 273,326.79 5,161,493.51 5,055,284.50 9,676,003.86 772,776.21 9,253,163.11 772,776.21 1,056,882.54 5,225,813.98 3,471,862.29 1,008,461.98 899,772.47 1,261,506.81 7,241,853.24 4,719,859.89 2,069,958.03 354,231.32 354,231.32 354,231.32 354,231.32 354,231.32 354,230.95 354,230.95 354,230.58 354,230.58 491,661.95 288,531.41 227,122.63 227,122.63 201,910.34 777,419.56 1,543,120.01 1,877,536.30 6,118,910.08 7,282,808.74 7,806,529.78 5,970,310.80 342,086.06 442,094.09 442,094.09 1,226,721.59 510,507.24 357,433.15 676,096.21 817,649.74 2,160,176.86 100,096.80 1,562,091.83 742,419.68 742,419.68 409,089.06 409,089.06 454,540.75 454,540.75 454,543.68 468,081.70 468,081.70 468,081.33 6,119,983.07 1,260,115.35 721,935.59 28,679.79 306,205.48 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 112,203.57 6,623,642.20 116,538.60 1,316,291.43 2,160,176.86 8,619,068.63 388,929.92 VAT Rate 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% TOTAL (in PHP) 11,671.16 49,594.32 11,671.77 11,672.34 32,799.22 619,379.22 606,634.14 1,161,120.46 92,733.15 1,110,379.57 92,733.15 126,825.91 627,097.68 416,623.47 121,015.44 107,972.70 151,380.82 869,022.39 566,383.19 248,394.96 42,507.76 42,507.76 42,507.76 42,507.76 42,507.76 42,507.71 42,507.71 42,507.67 42,507.67 58,999.43 34,623.77 27,254.72 27,254.72 24,229.24 93,290.35 185,174.40 225,304.36 734,269.21 873,937.05 936,783.57 716,437.30 41,050.33 53,051.29 53,051.29 147,206.59 61,260.87 42,891.98 81,131.55 98,117.97 259,221.22 12,011.62 187,451.02 89,090.36 89,090.36 49,090.69 49,090.69 54,544.89 54,544.89 54,545.24 56,169.80 56,169.80 56,169.76 734,397.97 151,213.84 86,632.27 3,441.58 36,744.66 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 13,464.43 794,837.06 13,984.63 157,954.97 259,221.22 1,034,288.24 46,671.59 Exhibit No.

P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P.3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d P-3, P-3a to P-3d Asset Description It LENS MAKER (it SL2 EXPRESS CTO) M/C. No. A000543731

IMPROVEMENT OF VENTILATION AT CHEMICAL STORAGE ROOM

UV LAMP IRRADIATION DEVICE

ALLOY BLOCKER M/C. No. A000494404 TURNING MACHINE (FSC-60) M/C No. A000477399 PAD PRINTER MACHINE M/C No. A000484866

LENS METER LM-1800PD

KEYENCE MEASURING MICROSCOPE VHX

VACUUM COATER (CES-34-15) M/C. No. 4000550819

STAINING WASTE FLUID ASPIRATOR

DC INVERTER CHILLER RKE 1500-B1-V

TURNING MACHINE (FSC-60) M/C No. A000477401 TURNING MACHINE (FSC-60) M/C. No. A000496781

CH-1 AIR COOLED SCROLL CHILLER (43TR)

DOCUCENTRE-II 5010 COPIER

DOCUCENTRE-IV C2270 ST

DOCUCENTRE-IV €2270 ST

FUJITSU CORAL IPX500 PABX

FUJI XEROX MACHINE

SONY VAIO PCG-5H7N

SMS MESSENGER WIRELESS NOTIFICATION

DELL POWEREDGE R710 2.5" 6C XEON X5690 3.46GHZ DELL POWEREDGE R710 2.5" 6C XEON X5690 3.46GHZ

DELL POWERVAULT MD 1220 DISK

STORAGE ENCLOUSURE 2U (12x146GB)

DELL POWERVAULT MD 1220 DISK

STORAGE ENCLOUSURE 2U (12x146GB) DELL POWERV AULT 114x 2U RM TAPE

ARRAY W/ SINGLE LTO5-140 HH

DELL POWEREDGE R510 RACK MOUNT SERVER

DELL ™ POWEREDGE™ R710 RACK MOUNT SERVER

DELL POWEREDGE R510 RACK MOUNT SERVER

DELL POWEREDGE R610 RACK MOUNT SERVER

POWERVAULT MD1220 DISK STORAGE ENCLOSURE

POWERVAULT™ 114X 2U RACK MOUNT TAPE ARRAY

WITH SINGLE LTOS5-140 HH SAS DRIVES

POWEREDGE RACK 4220 WITH DELL 8 PORTS ANALOG (KVM)

SWITCH MODULE WITH POWERCONNECT 5424

APC SMART UPS 8KVA RACKMOUNT - SURT8000rmxli APC SMART UPS 8KVA RACKMOUNT - SURT8000rmxli DELL POWEREDGE R710 2.5" OC E5620 XEON 2.40Ghz/5.86GT/8GB DELL POWEREDGE R610 2.5" OC E5620 XEON 2.40Ghz/5.86GT/12GB DELL POWEREDGE R410 3.5" XEON E5620 2.40Ghz 2xM300GB/8GB DELL POWERVAULT 114x 2U RM TAPE ARRAY W/ SINGLE LTO5-140 HH

DELL POWERCONNECT 5524 24P GIGABIT

ETHERNET MANAGED L2 SWITCH

DELL POWEREDGE RACK 4220 42U 19" CABINET

DELL 8 PORTS ANALOG KEYBOARD

VIDEO-MOUSE (KVM) SWITCH MODULE

APC SMART UPS RT 6KV A SURT6000XLI (6000va/4200w) ON-LINE

NET SCREEN FIREWALL

DELL ™ POWEREDGE™ R710 RACK MOUNT SERVER

DELL POWEREDGE R510 RACK MOUNT SERVER

POWERVAULT MD1220 DISK STORAGE ENCLOSURE

TEC BARCODE PRINTER B-SX4T

HELIUM LEAK DETECTOR PHOEMIXL1300

AtUA COUNTER (At-300)

SHINCRON MTR630 (USED)

SATO Printer CL412e SATO Printer CL412e SATO Printer CL412e Data Actuisition System NR-1000

FOCOVISION SR-2

PARTICLE COUNTER KA-12A

SATO Printer CL412e SATO Printer CL412e

OBSERVATION CAMERA SYSTEM

LENS METER LM-1800 P/N: NDK/310290140

EPSON ACULASER C9200N PAGE PRINTER

NIDEK ICE-MINI (+)

SATO CL412e Barcode Printer (Japanese) SATO GL412e Barcode Printer with Cutter Part No. WWGL15100 SATO GL412e Barcode Printer with Cutter Part No. WWGL15100 with Japanese Font Cartridge Memory SATO GL412e Barcode Printer with Cutter Part No. WWGL15100

LENS METER LM-1800 P/N: NDK/310290140

MEASUREMENT MICROSCOPE (MM-400)

SATO GL 412e LABEL PRINTER SATO GL 412e LABEL PRINTER SATO GL 412e LABEL PRINTER

EPSON ACULASER C9200N

SATO GL 412e LABEL PRINTER PANEL BOARD (M-11) M/C No. A000496823 PANEL BOARD (M-12) M/C No. A000496824 PANEL BOARD (M-24) M/C No. A000496825 PANEL BOARD (M-27(1)) M/C No. A000496832 PANEL BOARD (M-27(2)) M/C No. A000496833 Amount (in USD) 110,449.50 8,041.12 11,106.67 11,540.65 32,353.24 42,383.93 4,317.91 4,487.97 342,179.83 22,583.36 9,769.23 39,640.70 40,705.98 78,554.17 2,152.92 6,511.78 6,511.77 6,911.77 2,906.67 9,045.91 9,271.31 395.29 1,038.20 8,146.24 8,146.24 10,289.99 10,289.99 5,873.87 7,717.39 8,567.75 4,491.84 3,576.83 9,995.16 3,660.02 6,704.49 2,828.19 2,828.19 7,246.38 6,335.41 5,010.35 7,453.41 1,780.54 4,554.86 2,380.95 2,443.06 3,337.60 8,567.75 4,491.84 9,995.16 206.95 815.32 1,143.33 3,444.19 969.47 969.47 969.47 877.83 10,657.84 2,224.00 1,427.16 1,427.16 2,667.28 4,756.29 4,756.29 4,607.42 4,607.42 2,261.01 2,346.13 2,346.13 2,346.13 5,903.95 2,436.85 2,100.48 2,315.80 2,208.54 4,523.65 4,523.64 16,428.50 2,408.06 2,408.05 2,495.61 2,882.67 2,882.67 2,346.13 2,346.12 2,605.86 2,976.00 4,709.97 8,534.31 8,260.65 BSP rate as of 2/1/13 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 Amount (in PHP) 4,493,637.94 327,152.93 451,874.73 469,531.18 1,316,291.43 1,724,390.20 175,673.96 182,593.23 13,921,586.38 918,804.00 397,461.12 1,612,781.88 1,656,122.80 3,195,976.27 87,591.46 264,931.67 264,931.36 264,931.36 118,257.71 368,032.81 377,203.38 16,082.46 42,239.33 331,429.90 331,429.90 418,648.30 418,648.30 238,978.40 313,981.88 348,579.04 182,750.32 145,523.46 406,652.98 148,907.72 272,771.99 115,064.83 115,064.83 294,818.85 257,755.99 203,846.25 303,242.11 72,441.35 185,314.64 96,868.95 99,395.86 135,790.32 348,579.04 182,750.32 406,652.98 8,419.91 33,171.11 46,516.41 140,126.87 39,442.75 39,442.75 39,442.75 35,714.65 433,614.38 90,483.44 58,064.09 58,064.09 108,518.08 193,509.82 193,509.82 187,452.79 187,452.79 91,989.26 95,452.20 95,452.20 95,452.20 223,928.21 99,143.24 85,458.14 94,218.31 89,854.29 184,044.78 184,044.42 668,393.52 97,971.75 97,971.38 101,533.97 117,281.40 117,281.40 95,452.27 95,451.89 106,019.52 121,078.56 191,625.21 347,218.25 336,084.55 335,163.79 VAT Rate 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% TOTAL (in PHP) 539,236.55 39,258.35 54,224.97 56,343.74 157,954.97 206,926.82 21,080.88 21,911.19 1,670,590.37 110,256.48 47,695.33 193,533.83 198,734.74 383,517.15 10,510.97 31,791.80 31,791.76 31,791.76 14,190.93 44,163.94 45,264.41 1,929.89 5,068.72 39,771.59 39,771.59 50,237.80 50,237.80 28,677.41 37,677.83 41,829.49 21,930.04 17,462.82 48,798.36 17,868.93 32,732.64 13,807.78 13,807.78 35,378.26 30,930.72 24,461.55 36,389.05 8,692.96 22,237.76 11,624.27 11,927.50 16,294.84 41,829.49 21,930.04 48,798.36 1,010.39 3,980.53 5,581.97 16,815.22 4,733.13 4,733.13 4,733.13 4,285.76 52,033.73 10,858.01 6,967.69 6,967.69 13,022.17 23,221.18 23,221.18 22,494.33 22,494.33 11,038.71 11,454.26 11,454.26 11,454.26 26,871.38 11,897.19 10,254.98 11,306.20 10,782.51 22,085.37 22,085.33 80,207.22 11,756.61 11,756.57 12,184.08 14,073.77 14,073.77 11,454.27 11,454.23 40,330.15 40,219.66 Amount (in USD) Exhibit No.

CONSTRUCTION OF HAZARDOUS WASTE ROOM EXTENSION

FACTORY RENOVATION WORKS

DIP MACHINE DUCTING WORKS

PEO CABUYAO PLANT EPOXY FLOOR REPAINTING

AT 1F FROM GLB TO GLF

PEO CABUYAO MAINTENANCE ROOM AT 1F

PEO CABUYAO PLANT NCL ROOM AT 2F SUPPORT FOR MACHINES

PEO CABUYAO PLANT PROPOSED NCL ROOM AT

2F USING 0.4MM PLASTIC VINYL WITH ALUMINUM FRAME PROPOSED STORAGE AT 2F - DISMANTLING OF ATM BOOTH

MACHINE FOUNDATION AT MECHANICAL ROOM

PEO CABUYAO PLANT ADDITIONAL LAN

TELEPHONE, & OUTLET AT OFFICE AREA

MECHANICAL & ELECTRICAL WORKS AT

PROPOSED CStA ROOM AT 1F

FABRICATION & INSTALLATION OF SIGNAGES

SUPPLY MATERIAL FOR LAN & TELEPHONE

ADDITIONAL WORK FOR LAN & TELEPHONE

SECONDARY WORKS FOR MACHINE NO. 15

PEO CABUYAO ELECTRICAL PANEL BOARD

MODIFICATION REPLACEMENT OF WASTEWATER SYSTEM

START-UP OF DI-WATER SYSTEM

USE PIPING OF DI-WATER LINE

Building and Structure - EPPI*

MFG PROSITE IMPLEMENTATION FEE

50% DP MFG/PRO SOFTWARE

MFG PRO LICENSE PRS-2177 PC (INV#WG07220878)

MFG IMPLEMENTATION FEE

MFG CUSTOM FEE

MICROSCOPIC SPECTRO

MRB MIXING SYSTEM (start - June.08) PEO NEW PRODUCTION PLANNING SYSTEM (START SEP.2008)

NRI-MFG/PRO CUSTOMIZATION FEE

MIXING PROGRAM-POLY 2

SLIP PRINTING-3074~CUSTOMIZATION

FEE-NOMURA RESEARCH INSTITUTE

128 HR SYSTEM (PAYROLL)

WINSVRSTD 2008R2 SBGL MVL (5 UNITS)

SYMANTIC BACKUP EXEC 2010 SERVER WIN ML DVD MEDIA MEG PRO License (MFG/Pro eb2 SP8 concurrent user license-5 users) MFG PRO Customization Fee (Project No. SC101022-PEO) MFG PRO Customization Fee (export shipment data for SOL order)

PC SYSTEM STEP-1 (WG11689964)

MFG-PRO Technical and customization fee MFG-PRO License (tAD2009SE-GUI version incl tAD and database)

SSS CUSTOMIZATION (PAYROLL)

Total 8,272.73 3,666.97 3,744.96 3,993.73 3,993.72 7,933.26 4,322.74 4,250.47 5,804.47 2,339,725.05 16,130.30 14,537.62 20,474.83 19,560.07 15,426.20 10,693.77 22,093.24 8,990.53 2,953.72 8,872.16 9,215.07 16,823.96 240,218.67 131,744.63 131,392.70 17,178.20 1,722,726.08 483.53, 2,933.38 1,712.54 977.99 700.00 489.35 6,391.70 12,529.99 2,400.00 324.70 960.00 49,377.75 3,357.25 3,160.90 21,083.38 22,233.38 2,300.00 110,919.16 41,800.01 52,249.99 2,065.83 14,113,193.95 BSP Tate as of 2/1/13 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 40.6850 84,048.29 Amount (in PHP) 336,576.20 149,190.50 152,363.55 162,484.96 162,484.57 322,764.53 175,870.58 172,930.19 236,154.70 95,191,713.66 656,261.42 591,462.98 833,018.58 795,801.57 627,614.89 435,076.01 898,863.64 365,779.69 120,172.10 360,963.88 374,915.09 684,482.64 9,773,296.69 5,360,030.26 5,345,712.06 698,894.94 70,089,110.56 19,672.42 119,344.57 69,674.83 39,789.52 28,479.50 19,909.20 260,046.31 509,782.64 97,644.00 13,210.42 39,057.60 2,008,933.76 136,589.72 128,601.22 857,777.32 904,565.07 93,575.50 4,512,746.02 1,700,633.41 2,125,790.84 574,195,295,98

VAT TOTAL

Rate (in PHP) 40,389.14 17,902.86 18,283.63 19,498.19 19,498.15 38,731.74 21,104.47 20,751.62 28,338.56 11,423,005.64 78,751.37 70,975.56 99,962.23 95,496.19 75,313.79 52,209.12 107,863.64 43,893.56 14,420.65 43,315.67 44,989.81 82,137.92 1,172,795.60 643,203.63 641,485.45 83,867.39 8,410,693.27 2,360.69 14,321.35 8,360.98 4,774.74 3,417.54 2,389.10 31,205.56 61,173.92 11,717.28 1,585.25 4,686.90 241,072.05 16,390.77 15,432.15 _ 102,933.28 108,547.81 11,229.06 541,529.52 204,076.00 255,094.90 10,085.80 68,903,435.50

The difference can be attributed to the following: VAT per invoice no. 028121 VAT per invoice no. 029022 VAT per invoice no. 029823 Total Rounding off difference TOTAL Php Php PHP 7,075.35* 5,747.86* 6,483.08* 19,306.29 2.41 19,308.70 *These are local sales in which VAT were recognized in March 2015 On the basis of the foregoing, petitioner is not entitled to the claimed refund because the amount of valid "erroneous VAT payment" of Php8,410,693.28 is not sufficient to cover its output VAT liability of Php31,182,293.19 involving the Asset Purchase Agreement and Deed of Sale and Assignment between petitioner and PEOI- PEOCI, and petitioner and EPPI, respectively.

WHEREFORE, premises considered, the Petition for Review filed by petitioner EHS Lens Philippines, Inc. is hereby DENIED for lack of merit.

SO ORDERED.

WE CONCUR:

LOVELL~ BAUTISTA

Associate Justice ~.~-I'-" A . FABON-VICTORINO MA. BELEN M. RINGPIS-LIBAN 21 Exhibit "P-63-455." 22 Exhibit "P-63-464." 23 Exhibit "P-63-472." Associate Justice ATTESTATION I attest that the conclusions in the above Amended Decision were reached in consultation before the case was assigned to the writer of the opinion of the Court's Division. LOVEL&. BAUTISTA Associate Justice Chairperson CERTIFICATION Pursuant to Section 13 of Article VIII of the Constitution and the Division Chairperson's Attestation, it is hereby certified that the conclusions in the above Amended Decision were reached in consultation before the case was assigned to the writer of the opinion of the Court's Division. Presiding Justice

Footnotes

1
Emphases retained.
2
G.R. No. 151135, July 2, 2004, 433 SCRA 376.
3
G.R. No. 198759, July 1, 2013,700 SCRA 322.
4
Petitioner's Evidence Folder, Exhibit "P-12," PEZA Amended Certificate of Registration, p. 1; BIR Records, PEZA Certificate of Registration, PEZA Amended Certificate of Registration, pp. 68-69. s G.R. No. 150154, August 9, 2005, 466 SCRA 211.