The Philippine Stock Exchange (PSE) lifted the trading suspension on shares of Asiabest Group International Inc. (ABG) at 11:30 a.m. Friday.
The suspension was lifted following the acquisition of a 66.67 percent stake in ABG by PremiumLands Corp. (PLC) from Tiger Resorts Asia Limited (TRAL) in December 2024. The acquisition was led by PLC chairman Francis Lloyd Chua.
With the resumption of trading, ABG announced a new strategic direction focused on mass housing and infrastructure development. The company aims to help address the country’s housing backlog and create sustainable, integrated communities.
“This milestone marks the beginning of a new chapter for ABG,” Chua said.
“Our vision is to transform ABG into a dynamic player in industries that are part and parcel of our nation’s success: from real estate and mass housing to infrastructure, technology, and sustainable development. Through this listing, we gain a stronger platform to help improve the quality of life for more Filipino families.”
PLC, the lead member of the acquiring consortium, is the parent company of Industry Holdings Development Corporation (IHDC). IHDC’s subsidiary, Concrete Stone Corporation (CSC), is the pre-cast and aggregates arm that developed the Cebu-Cordova Link Express (CCLEX). Another subsidiary, Industry Movers Corporation (IMC), operates as the group’s maritime logistics company. ABG plans to leverage this consortium to become a major player in infrastructure, construction, and maritime logistics.
ABG is now poised to embark on strategic projects to redefine its market presence and long-term growth trajectory.
