First CNG Inc is operating a taxi transportation business since 2003 in the Philippines, and will also operate a CNG (Compressed Natural Gas) bus transportation business beginning 2005.  Shifting to CNG from diesel fuel for buses reduces the dependence of the Philippines on imported fuel and eases the level of pollution.  This agenda is supported and promoted by the Philippines Government and the Group will help the government by investing in the business of CNG related public transportation and the conversion of gasoline and diesel vehicles to CNG vehicles.

• It is safer to use than gasoline because it is lighter than air and if a leak occurs, it will dissipate rapidly into the atmosphere. Therefore, CNG poses no direct threat to land or water contamination in the case of a leak

• Natural gas has an ignition temperature of about 1200 degrees Fahrenheit. This is about 600 degrees higher than gasoline. CNG is flammable only in concentrations from 5.3 to 15 percent in air, so if a leak does occur, it is less likely to ignite than gasoline unless the leak happens in a confined space with no ventilation. Therefore, in terms of fires, CNG vehicles may be considered safer than gasoline vehicles.

• When gasoline is injected into the combustion cylinder, it tends to wash away the lubricant on the cylinder wall thus causing greater friction between the moving parts. In a CNG vehicle, the fuel enters the combustion cylinder as a gas and has little effect on the lubricant on the cylinder walls, thus extending the life of the engine.

• Engine maintenance cost can be reduced by extending time between oil changes because the particulate materials that are produced during the combustion cycle of gasoline engines and cause the engine oil to get dirty are not present in the CNG engine.