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)

Apr 22, 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 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Board Approval of sale of investment asset
Background/Description of the Disclosure
The Board of Directors of SBS Philippines Corporation in its special meeting held today, 22 April 2016, approved the sale of the Company’s 3.4 hectares property located along the Zapote Road in Barangay Pamplona, Las Pinas City (the “Property”) to 8990 Housing Development Corporation for a total consideration of Eight Hundred Fifty Eight Million Nine Hundred Sixty Five Thousand Five Hundred Pesos (P858,965,500.00). The Property consists of seven (7) contiguous lots having a total lot area of thirty four thousand two hundred sixty three (34,263) square meters. The Property is a non-core asset of the Company acquired in 2012 and is held for investment and capital growth. The sale will close on 10 May 2016 and will be totally satisfied in cash, to be payable upon the signing of the Deed of Absolute Sale.
Other Relevant Information
SBS Philippines Corproation (the "Company") intends to use the net proceeds of the sale for general working capital and investment prurposes. None of the Directors or the controlling shareholders of the Company have any interest, direct or indirect in the sale, other than by being such a director or controlling shareholder of the Company.