Asiabest Group International Inc. (ABG) will be transformed by businessman Francis Lloyd Chua’s PremiumLands Corporation (PLC) into an end-to-end infrastructure business group that has the whole ecosystem of the industry.

In a disclosure to the Philippine Stock Exchange (PSE), ABG said it will remain a holding company but will eventually have operating subsidiary companies which will form its end-to-end infrastructure group.

PLC intends to conduct a mandatory tender offer for the minority shares of the company prior to the completion of its acquisition of 66.67 percent of the company for P510.4 million.

Once the backdoor listing of Chua’s infrastructure assets it completed, ABG is also planning a follow-on offering of its shares within one year from the completion of the acquisition.

The purpose of the transaction is for PLC to acquire a listed platform, ABG, where it can infuse and consolidate assets and businesses in order to create the infrastructure business group.

By acquiring control and ownership of ABG, PLC will have the authority to execute the planned asset infusion and consolidation into ABG, which will result in the listed issuer, ABG, transitioning from a dormant shell company into a holding company with subsidiaries that operate and generate recurring and ongoing revenue and income.

Chua plans to infuse and consolidated his interests in related entities operating in the infrastructure industry that work together to create synergies and competitive advantages for the group.

The value proposition of PLC working as a group is the vertically integrated nature of its organization that begins with raw materials extraction and processing on one end and finished products on the other end.

PLC’s proposed business plan for ABG shall be separated into two major stages starting with the acquisition of Kabalayan Housing Corp., a wholly-owned subsidiary of PLC, and the initial infusion of several land assets located in different provinces into Kabalayan to be used for the operationalization and development of PLC’s Kabalayan Mass Housing Projects.

The second part consists of the consolidation of the interests and operating subsidiaries of Industry Holdings and Development Corporation (IHDC) involved in manufacturing, logistics and construction.

These include Concrete Stone Corporation, Industry Movers Corporation, and its minority interest in EEI Corporation.

The indicative timetable for the completion of the first stage or the PLC/Kabalayan stage, is on or before the end of the third quarter of 2025 subject to securing necessary regulatory approvals.

The indicative timetable for the completion of the second stage or the IHDC consolidation stage, is on or before the second quarter of 2026 subject to securing necessary regulatory approvals.

PLC is a real estate company registered in the Philippines engaged in land banking and real estate developments across the country. IHDC is a holding company with interests in manufacturing and raw material processing, construction and logistics.

PLC pioneers prime real estate developments across the country such as PMI Tower, a 21-storey mixed-use building in Makati City, Market Mall, a 9-storey mixed use commercial building and hotel in Ormoc City and Mondrian Building, a 6-storey mixed-use building in Makati.

Future developments include Siargao Marina and Coron Marina which are set to transform the economic landscape in the region.

It likewise has interests in entities engaged in the Palanas Shipyard located in Eastern Visayas which harnesses state-of-the-art marine airbag technology to craft high-quality ships distinguished by innovating designs.

PLC is currently focusing its efforts on the development of its mass housing projects under the Kabalayan brand where it would like to demonstrate the economic viability of its business model that utilizes modular precast technology to deliver affordable housing units at a profitable price point and executed in a shorter period of time over a large scale.

The firm is currently actively performing land banking and permitting activities that will enable the implementation and execution of its mass housing projects.

It has conducted studies on the sizable unserved demand for affordable housing units in the Philippines and proposes to meet this demand through its own development efforts and partnerships with construction technology providers and suppliers including those under the umbrella of IHDC.

IHDC and its subsidiaries are involved in manufacturing and raw material processing, construction and logistics.

For manufacturing, IHDC through Concrete Stone Corp. (CSC) is engaged in the manufacturing and supply of construction solution materials such as precast, aggregates and cement and has an existing high volume manufacturing plant in Bataan that sources materials from crusher sites in various locations nationwide.

CSC is also the primary supplier and technology provider of modular precast materials to PLC.

For logistics, IHDC through Industry Movers Corp. (IMC) has an existing fleet of vessels that provide maritime logistics and delivery. IMC shall also be involved in the transportation of CSC’s modular precast materials from Bataan to several Kabalayan projects sites of PLC.

For construction, IHDC through its affiliate, EEI Corporation (EEI), is involved in infrastructure projects that require precast cement materials.

Last June 2024, EEI and CSC signed a partnership agreement for the supply of precast concrete products and requirements for multiple infrastructure projects nationwide.

EEI has business interests in construction and engineering services, with expertise in the construction of infrastructure, buildings, and industrial and electromechanical facilities.

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