MARKET HEADLINE: SHORT SELLING BY OCTOBER

Asia Best Group Int'l Inc.
#1
Business Profile:


Change name to Asia Best Group International, Inc. or "ABG"

Asiabest Group International Inc. (ABG), formerly AGP Industrial Corporation, was incorporated on October 23, 1970 primarily as an investments holding company for Atlantic Gulf and Pacific Company of Manila, Incorporated, one of the largest diversified engineering and general construction firm in the Philippines in the 1980s. In March 2012, the Securities and Exchange Commission approved the change in corporate name to its present one.

On September 27, 2011, ABG, together with NiHao Mineral Resources Inc. and Glencore International AG, executed a Heads of Agreement to form a joint venture corporation whereby each party shall utilize its expertise in the mining industry for purposes of investigating, identifying, acquiring, developing and operating mining claims of economically feasible nickel deposits in the Philippines.

ABG has three wholly-owned subsidiaries namely, Alta Minera Inc.; Breccia Resources Inc.; and Millionaire’s Offices and Properties Inc. The Company also owns 25% of the capital stock of GNA Resources International Limited.

The company and its subsidiaries have no real properties as of 31 December 2016.

Source: SEC Form 17-A (2016)

AGP Industrial Corporation (AGP) was incorporated on October 23, 1970 primarily as a holding company for Atlantic Gulf and Pacific Company of Manila, Incorporated (AG&P), one of the oldest and among the largest diversified engineering and general construction firms in the Philippines. On November 13, 2003, the Board and stockholders of AGP approved the sale of AGP's investment in shares of stock of AG&P to Trans-Philippines Investments Corporation (TPIC). Up to August 2008, AGP was dependent on the continuing support of TPIC, which filed a temporary relief of payment to its creditors effective February 9, 1999. Consequently, AGP had difficulty in meeting its current obligations due to the lack of funding support from TPIC.

In 2008, the stockholders of AGP approved and ratified the Company's quasi-reorganization plan to be implemented through the Board of AGP, and to issue subscriptions to investors, represented by HDI Securities, Inc. on behalf of its various clients, via private placement.

At present, the Company's management is assessing and identifying investment opportunities and various options regarding operations that AGP may undertake in the future. As of December 31, 2010, AGP has no subsidiary.

Source: SEC Form 17-A (2010)


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#2
Hi Ma'am, bat wala po itong record sa PSE? no records found nakalagay.
~In all your ways, acknowledge God.

Initializing Bazura Mode...
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#3
Angping-led group buys into AGP Industrial

THE group of businessman and stockbroker Jerry Angping is acquiring a near-majority stake in AGP Industrial Corp., a listed moribund holding firm undergoing rehabilitation.

AGP told the Philippine Stock Exchange (PSE) on Tuesday that it approved the sale of 136.68 million shares at P1 each to private investors. The largest among these is Sunplaza Development Corp., an Angping-controlled firm, which bought 92.68 million shares, or 46 percent, of AGP’s expanded outstanding shares.

The transaction will not be covered by the PSE’s tender offer rule as the buy-in consists of new shares. AGP said in the same disclosure that its board approved the creation of new subsidiaries to serve as vehicles for investments in “real estate, mining development, mining subcontracting and equipment leasing and agriculture/ palm-oil production and processing.”

A person familiar with the deal said a portion of the proceeds from the private placement would be used to fund AGP’s entry into these businesses possibly within 2011. Investments will include the acquisition of an undetermined number of office condominium units at Sunplaza Centre, which is located in Shaw Boulevard, Mandaluyong City, the disclosure said.

Other individuals named in the private placement were Carry Lincoln Taboso, Rafael B. Zialcita, Antonio V.F. Gregorio III and Chi Ho Co. AGP also plans to change its corporate name pending approval by the Securities and Exchange Commission (SEC).

The development comes as the PSE is set to lift the almost decade-long trading suspension of AGP today, after the firm complied with various requirements of the bourse. AGP shares last traded in 2001, when its class A shares, which are only open to Filipinos, closed at P4 each while class B shares, which have no ownership restrictions, closed at P3 each.

The PSE said the move also follows the approval by the SEC of the quasi-reorganization and equity restructuring of AGP. AGP’s woes started in 1999 when the SEC temporarily suspended the payment of obligations by the controlling shareholder, Trans-Phils Investment Corp. The issue was also muddled by internal struggles between minority and majority shareholders.

AGP used to own construction firm Atlantic Gulf and Pacific Co. of Manila Inc., or AG&P.

http://www.businessmirror.com.ph/home/co...industrial
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#4
I Heart this one....reminiscing.... Heart
"The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius."
-Alan Greenspan-
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#5
Question lang Ms. Ruach. Why was the stock price of AGP allowed to rise beyond the 50% ceiling? Dahil ba mas-kumonti yung bilang ng publicly traded shares?
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#6
...ay meron na pala thread
Pls don't follow me....I'm lost too! hehe
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#7
From NI Thread, copy ko lang Commander. Smile

(06-22-2011, 10:49 PM)Ollie Wrote: ...RamblingMan, the PSE allowed AGP to seek its own price levels today because the stock hasn't been traded since March 2002 pa, bukas iba na storya...the jockeys would extend their powers on this one...you know who the stock's jockey RamblingMan? Smile

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#8
Teka nahilo na me. Repost ko sagot ko kay Sir Ollie dito hehe. (Note to self, always use the search option first)

Thanks Sir Ollie! Hindi ba si JAP? Hehe. Baka makiride ako dito.
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#9
Lady Ruach.... CHEERS!!!! QYM hit 99.99%...You are a CLASS
Later pingpong namn ulet...1-2 peso...pocket the points ...
For POST GRAD only!!!!Heart
"The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius."
-Alan Greenspan-
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#10
(06-23-2011, 06:25 AM)BORDzTRADAMUS Wrote: Lady Ruach.... CHEERS!!!! QYM hit 99.99%...You are a CLASS
Later pingpong namn ulet...1-2 peso...pocket the points ...
For POST GRAD only!!!!Heart

Big GrinTongueBig Grin

Shhh...nilagay ko talaga sa likod ito para wala makakita pagkatapos ng initial post ko at yung sumunod na posting. May nag-request kasi kaya di nakita ni Commander na may thread na. Big Grin
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