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): January 19, 2001
CE Casecnan Water and Energy Company, Inc.
(Exact name of registrant as specified in its charter)
Philippines 1-12995 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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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 Company, Inc.
Date: January 19, 2001 By: /s/ Paul J. Leighton
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Paul J. Leighton
Secretary
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Item 5. Other Events
Recent demands for the resignation of President Estrada together with the
resignations of cabinet members and other key governmental officials could
result in a change in the near future in the Presidency and overall
administration of the government of the Republic of the Philippines. Such a
change is not expected to, but could, adversely affect CE Casecnan Water and
Energy Company, Inc. (the "Company"), which is constructing a multi-purpose
irrigation and 150 megawatt hydroelectric power facility project (the "Project")
on the island of Luzon.
The Company expects the Republic of the Philippines and the National Irrigation
Administration ("NIA") to abide by the terms of their agreements with the
Company as they relate to the Project. The NIA is obligated to make payments to
the Company for water and electricity fees and the Republic of the Philippines
has a related sovereign performance undertaking. Although the obligations of the
NIA and the Republic of the Philippines under these agreements are in no way
dependent on maintaining any particular Philippine government administration in
place, it is possible, however, that the Philippine government uncertainty could
have an adverse impact on the Project.
