SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 7, 2000
CE Casecnan Water and Energy Company, Inc.
(Exact name of registrant as specified in its charter)
Philippines 333-608 Not Applicable
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
24th Floor, 6750 Building, Ayala Avenue, Makati,
Metro Manila Philippines Not Applicable
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (632) 892-0276
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N/A
(Former name or former address, if changed since last report.)
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Item 4. Changes in Registrant's Certifying Accountant.
a. On August 30, 2000, CE Casecnan Water and Energy Company, Inc. (the
"Company") informed Sycip Gorres Velayo & Co., an Arthur Andersen member firm,
that, following a review of the Company's anticipated business operations and
corresponding independent accountant requirements, Sycip Gorres Velayo & Co.
would no longer be engaged as independent accountants for the Company for audit
periods subsequent to the fiscal year ended December 31, 1999.
Sycip Gorres Velayo & Co.'s reports on the Company's financial statements for
the two most recent fiscal years ended December 31, 1998 and 1999 contained no
adverse opinion or disclaimer of opinion and were not qualified or modified as
to uncertainty, audit scope or accounting principles.
During the two most recent fiscal years ended December 31, 1998 and 1999, there
were no disagreements with Sycip Gorres Velayo & Co. on any matter of accounting
principles or practices, financial statement disclosures, or auditing scope or
procedures, which disagreements, if not resolved to the satisfaction of Sycip
Gorres Velayo & Co., would have caused it to make a reference to the subject
matter of the disagreements in connection with its audit reports.
During the two most recent fiscal years ended December 31, 1998 and 1999, there
were no reportable events (as defined in Securities and Exchange Commission
Regulation S-K Item 304(a)(1)(v)).
The Company requested Sycip Gorres Velayo & Co. to furnish a letter addressed to
the Commission stating whether it agrees with the above statements. Sycip Gorres
Velayo & Co.'s letter dated September 7, 2000, is filed as Exhibit 16 to this
Form 8-K.
b. By action taken on August 30, 2000, the Company's Board of Directors approved
the appointment of the accounting firm of PricewaterhouseCoopers LLP as
independent accountants for the Company for 2000. During the last two fiscal
years ending December 31, 1998 and 1999, the Company did not consult
PricewaterhouseCoopers LLP regarding any of the matters or events set forth in
Securities and Exchange Commission Regulation S-K Item 304(a)(2)(i) and (ii).
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit No. 16 - Letter from Sycip Gorres Velayo & Co.
dated September 7, 2000.
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Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CE CASECNAN WATER AND ENERGY CO., INC.
/s/Patrick J. Goodman
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Patrick J. Goodman
Senior Vice President and
Chief Financial Officer
September 7, 2000
