The Philippine Stock Exchange (PSE) has approved the voluntary trading suspension sought by Asiabest Group International Inc. (ABG) in response to shareholder calls for transparency and to avoid speculation while awaiting the final appraisals of assets to be infused into the company.

“The Exchange grants a non-extendible period of 10 trading days (Oct. 14 to 28) in accordance with existing rules, policies, and guidelines,” said the PSE.

It added that “the suspension will be lifted upon the earlier of the lapse of the requested 10-trading day period or the completion of relevant valuation and submission of a supplemental comprehensive corporate disclosure.”

ABG, now controlled by Premium Lands Corp. of Francis Lloyd Chua, plans to fold in Chua’s housing and infrastructure-related investments into the publicly listed company.

It earlier disclosed its plan to fold in Concrete Stone Corp. (CSC), Industry Movers Corp. (IMC), and Kabalayan Housing Corp. (via Premium Lands) into ABG.

ABG, together with independent advisers, is finalizing valuation reports, appraisals, and supporting documentation to underpin the contemplated share-for-asset or share-for-share transactions and related actions.

“Additional time is required to ensure completeness and consistency with the Exchange’s requirements. ABG respectfully commits to complete and file the independent valuation reports, appraisals, and supporting schedules within 10 trading days from the effectivity of the requested suspension or [earlier],” the firm said.

“ABG has received calls from shareholders asking why a trading halt was not implemented, stressing that a short, orderly pause would allow full, transparent disclosure and proper price discovery,” the company said.

Shareholders sought information on the basis of valuations for the vend-in assets (CSC, IMC, and Kabalayan), including appraisal methodologies, independent adviser qualifications, peer or comparable selection, and key assumptions.

They also wanted clarification on the basis of ABG’s ₱150-million subscription into CSC—specifically how the price level relates to independent valuations, aligns with the integration plan, and affects ABG’s post-transaction value.

“These concerns are echoed in public commentary that has amplified the risk of information asymmetry during this transition phase. In particular, recent market columns and commentary have characterized the situation as investors ‘flying blind’ on value until fuller materials are available, reinforcing investor calls for a short, orderly pause,” ABG said.

In the absence of finalized valuations and related supporting materials, the firm said continued trading risks mispricing of ABG shares and unequal access to material information.

Thus, it said, “A brief, time-bound suspension, paired with prompt, complete submissions and event-based lifting upon ABG’s submission, is the most proportionate, investor-protective course.”

ABG added that a time-bound suspension, paired with event-based lifting triggers, is the least-restrictive and most proportionate measure to safeguard the market during this narrow window.

The independent valuation firm engaged by ABG to perform the valuations for the contemplated vend-in of real estate assets is expected to complete its work by Oct. 24, 2025.