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 9, 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 shareholder ratification of 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 share subscription in its subsidiary, SBS Holdings and Enteprises Corporation, equivalent to One Billion Five Hundred Seventy Four Million Six Hundred Eighty Seven Thousand Five Hundred (1,574,687,500) common shares at its par value of P1.00 per share or for a total consideration of One Billion Five Hundred Seventy Four Million Six Hundred Eighty Seven Thousand Five Hundred Pesos (P1,574,687,500,00) was ratified by vote of Corporation's shareholders representing at least 2/3 vote of the outstanding capital stock of the Corporation on June 9, 2017.
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 June 5, 2017 under Circular No. C03546-2017