SECURITIES AND EXCHANGE COMMISSION
SEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Apr 25, 2016

2. SEC Identification Number

A200110402

3. BIR Tax Identification No.

213-054-503

4. Exact name of issuer as specified in its charter

SBS PHILIPPINES CORPORATION

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

NO. 10 RESTHAVEN STREET, SAN FRANCISCO DEL MONTE, QUEZON CITY Postal Code 1105

8. Issuer's telephone number, including area code

(02) 371 1111

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON SHARES	1,200,000,000

11. Indicate the item numbers reported herein

ITEM 2: Disposition of Asset

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

SBS Philippines CorporationSBS

PSE Disclosure Form 4-1 - Acquisition or Disposition of Assets References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Sale of real estate property
Background/Description of the Disclosure
Ther Board of Directors of SBS Philippines Corporation in its meeting held today, 25 April 2016, approved the sale of the Company’s property located at the Bonifacio Global City in Taguig City (the “Property”).

Date of Approval by Board of Directors	Apr 25, 2016

Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction

The Directors consider it an appropriate time to divest and sell the Property to unlock its best maximum value after evaluating various options and property market conditions in the locality. The Directors are of the view that the sale is in the best interest of the Company and its shareholders as it will allow a value realization of the Property that is significantly ahead of the value that could be achieved by retaining the Property. The Company intends to use the sale proceeds for working capital purposes and to pursue new investment opportunities

Details of the acquisition or disposition

Date	May 10, 2016

Description of the Transaction
The transaction involves the sale of the Company's 1,083 square meters property located at the 21st Drive, Bonifacio Global City, Taguig City (the "BGC Property") to Petaluma Properties, Inc.
Manner
The transaction is by way of a negotiated direct sale. The sale will close on 10 May 2016 and will be fully satisfied in cash, payable upon the signing of the Deed of Absolute Sale.
Description of the assets involved
The Property, subject of the sale, is a commercial parcel of land having an area of one thousand eighty three (1,083) square meters located at the 21st Drive Bonifacio Global City, Taguig. The Property is a non-core asset of the Company acquired in 2004 and is held for investment and capital growth.

Terms and conditions of the transaction

Nature and amount of consideration given or received
The Property will be sold for cash at P410,000.00 per square meter or a total sum of P444,030,000.00, to be payable in full upon signing of the Deed of Absolute Sale.
Principle followed in determining the amount of consideration
The consideration was arrived at on a willing-seller and willing-buyer basis, taking into account the indicative market value of the Property based on independent sources. The Company did not commission a separate valuation of the Property for purposes of the sale.
Terms of payment
The consideration will be satisfied fully in cash and will be payable upon signing of the Deed of Absolute Sale.
Conditions precedent to closing of the transaction, if any
none
Any other salient terms
none

Identity of the person(s) from whom the assets were acquired or to whom they were sold

Name	Nature of any material relationship with the Issuer, their directors/ officers, or any of their affiliates
Petaluma Properties, Inc. ("Buyer")	Buyer is not related to the Company and none of their directors, officers and affilates are related to the Company or any of its directors and officers. Neither is any director, officer or controlling sharesholder of the Company has any interest, direct or indirect, in the sale, other than by being such a director, officer or controlling shareholder of the Company.

Effect(s) on the business, financial condition and operations of the Issuer, if any
As a non-core asset of the Company, the sale will not affect the nature of the Company's core business. The sale will allow for value realization of the Property and strengthen the working capital, cash and capital poistion of the Company.
Other Relevant Information
None

If the transaction being reported is an acquisition, kindly submit the following additional information:

Source(s) of funds
Not applicable
If any asset so acquired by the issuer or its subsidiaries constituted plant, equipment or other physical property, state the nature of the business in which the assets were used by the persons from whom acquired and whether the issuer intends to continue such use or intends to devote the assets to other purposes, indicating such other purposes
Not applicable