MAKATI CITY, Philippines — Asiabest Group International Inc. (PSE: ABG) will seek shareholder approval during its Annual Stockholders’ Meeting on August 11 for the proposed vending-in of key operating assets that will accelerate the company’s transformation into an integrated infrastructure and property holding company.
Among the agenda items for shareholder approval are the proposed vend-in of Industry Movers Corp. (IMC) and Kabalayan Housing Corp. (KHC), or their underlying assets, in exchange for newly issued ABG shares. The proposed transactions form part of the company’s broader strategy of consolidating operating businesses under the listed entity to strengthen its long-term growth platform.
IMC is proposed to be valued at between Php 3.9 billion for 156 million shares and Php 5.5 billion for 220 million shares, while KHC is proposed to be valued at between Php 800 million for 32 million shares and Php 1.2 billion for 48 million shares, subject to independent third-party appraisal and regulatory approvals.
“The proposed vend-in represents another important milestone in ABG’s transformation,” said Jan Michael Lim, Investor Relations Officer of ABG. “We are bringing together complementary businesses under the ABG platform while further creating a strong organization with the capabilities to participate across multiple segments of the infrastructure and property value chain.”
The proposed vending-in of IMC will add a nationwide maritime logistics business to ABG, providing services such as bulk and rolling cargo, dredging works, crane barge and pile driving operations, loose cargo handling, towing and tug-assist, and general cargo delivery.
KHC, meanwhile, is expected to contribute to ABG as a strategic land bank intended to serve as development sites for integrated housing and modular construction programs through partnerships with local government units, private developers, and landowners.
The proposed transactions complement ABG’s ongoing investments in construction and manufacturing through ABG Modular Development Corp. (ABG Modular), the group’s wholly owned subsidiary focused on delivering Prefabricated Concrete Modular Structures (PCMS).
ABG Modular is positioning itself to support the country’s growing demand for faster and more efficient infrastructure delivery, particularly in sectors such as education, housing, and tourism. Through factory-produced precast concrete building systems, the company aims to help accelerate project completion while maintaining quality, consistency and structural durability.
Once completed, the consolidation of IMC, KHC, ABG Modular and the planned integration is expected to position Asiabest with capabilities spanning maritime logistics, land development, precast concrete manufacturing, modular construction and infrastructure support services.
The company believes this integrated platform will allow it to pursue opportunities arising from the country’s continued demand for infrastructure, housing and industrial development.
In addition to the proposed asset infusions, shareholders will also consider the proposed increase in the company’s authorized capital stock to support the planned transactions and future expansion initiatives.
