Securities and Exchange Commission, the Capital Market Supervisory Board, or the Office of the Securities and Exchange Commission recommends the investment in the offered REIT units, or guarantees the price or

strategic areas. The Industry consolidated margins for integrated businesses, as seen in Figure 2, suggests that the bottom seems to have reached in mid-2016 and there is a gradual uptick in 2017 across the

of SPP Cogeneration power plants that will expire between 2016-2025 to be extended or allowing new power plants to be construct according to the same contract. This suggests that the power plants of