SECURITIES AND EXCHANGE COMMISSIONSEC 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)

Jun 5, 2017

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

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	1,169,040,400

11. Indicate the item numbers reported herein

Item 9: Other events

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 16-1- Update on Corporate Actions/
Material Transactions/Agreements References: SRC Rule 17 (SEC Form 17-C) and
Section 16 of the Revised Disclosure Rules

Subject of the Disclosure
Update on the SEC approval of the increase of the authorized capital stock of the Company's wholly owned subsidiary, SBS Holdings and Enterprises Corporation, from P1.25 million to P5.5 billion and the Company's investment by way of subscription of 1,574,687,500 common shares at P1.00 par value per share of the increase in the authorized capital stock of SBS Holdings and Enterprises Corporation
Background/Description of the Disclosure
The Company's subsidiary, SBS Holdings and Enterprises Corporation ("SHEC") received today its Certificate of Approval of Increase of Capital Stock and Certificate of Filing of Amended Articles of Incorporation dated June 2, 2017 from the Securities and Exchange Commission providing for the approval of the amendment of the Seventh Article of the Articles of Incorporation of SHEC to increase its authorized capital stock to Five Billion Five Hundred Million Pesos (P5,500,000,000.00), Philippine currency, divided into Five Billion Five Hundred Million (5,500,000,000) common shares with par value of One Peso (PhP 1.00) per share or an aggregate par value of PhP5,500,000,000.00. The Company has subscribed to an additional One Billion Five Hundred Seventy Four Million Six Hundred Eighty Seven Thousand Five Hundred (1,574,687,500) common shares, representing 28.64% of the PhP 5,498,750,000.00 increase in the authorized capital stock of the SHEC. To date, a total of Eight Hundred Million Pesos (PhP 800,000,000.00), representing 50.8% of such additional share subscription, have been paid in cash to SHEC.
Other Relevant Information
The Company's additional capital infusion in SHEC is intended to provide additional core capital to support the strategic initiatives of the SHEC to engage in property related investments and businesses. This information is an update of the previous disclosure issued on March 1, 2017 under Circular No. C01139-2017.