C08191-2018

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)
Dec 7, 2018
2. SEC Identification Number
42543
3. BIR Tax Identification No.
000-196-724
4. Exact name of issuer as specified in its charter
ASIABEST GROUP INTERNATIONAL INC.
5. Province, country or other jurisdiction of incorporation
PHILIPPINES
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
22ND FLOOR THE PEAK TOWER, 107 LP LEVISTE ST., SALCEDO VILLAGE, MAKATI CITY Postal Code 1227
8. Issuer's telephone number, including area code
(632)9289246
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 300,000,000
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.

Asiabest Group International Inc.ABG

PSE Disclosure Form 4-24 - Results of Annual or Special Stockholders' Meeting References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Results of the Annual Stockholders' Meeting

Background/Description of the Disclosure

The Annual Meeting of Stockholders of Asiabest Group International Inc. (the ‘Corporation’) was held on 7 December 2018 at 1:30 pm at Luna North Function Room, The Rockwell Club, Amorsolo Square #23, Amorsolo Drive, Rockwell Center, Makati City. During the meeting, stockholders representing approximately 95.86% of the outstanding capital stock of the Company were present in person or by proxy (thereby constituting more than 2/3 majority of the outstanding and issued capital stock of the Corporation). The following resolutions, items, and matters were approved and / or ratified without objections:

List of elected directors for the ensuing year with their corresponding shareholdings in the Issuer
Name of Person Shareholdings in the Listed Company Nature of Indirect Ownership
Direct Indirect
Edgardo G. Alimagno 1,000 0 -
David M. Dela Cruz 1,000 0 -
Richard William N. Palou 1 0 -
Ramoncito B. Cabalu 1,000 0 -
Isabelo A. Mariano 1,000 0 -
Manuel Sinforoso D. Salgado 1,000 0 -
Emmanuel D. Ganzon 1,000 0 -
Felixes G. Latonero 100 0 -
Manuel G. Ong 100 0 -
External auditor SyCip Gorres Velayo & Co.
List of other material resolutions, transactions and corporate actions approved by the stockholders

1. Approval of the Minutes of the Annual Stockholders’ Meeting held on 19 December 2017.

2. Annual Report of the President / Chairman.

3. Approval and Adoption of the Audited Financial Statements for the Year Ended 31 December 2017.

4. Appointment of SGV and Co. as the Company’s External Auditor.

5. Ratification of all acts of the Board of Directors and Management for the period covered from the last Annual Stockholders Meeting of the Corporation held on 19 December 2017 to the date of the Annual Stockholders Meeting.

Other Relevant Information

Messrs. Latonero and Ong submitted their credentials to support their qualifications for the positions of Independent Directors. The Company has adopted the SRC Rule 38 (Requirements on Nomination and Election of Independent Directors) and compliance therewith has been made. The Company always undertakes to abide by the existing SRC Rule 38 on the required number of independent directors subject to any revision that may be prescribed by the SEC.

Filed on behalf by:
Name Rachelle Lambuson
Designation Corporate Secretary, Corporate Information Officer & Compliance Officer