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)

Feb 28, 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 Share	1,182,020,500

11. Indicate the item numbers reported herein

-

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
Background/Description of the Disclosure
“The Board of Directors of SBS Philippines Corporation (the "Corporation") in a meeting held today approved the following matters: 1. 2016 Audited Financial Statements; 2. 2016 Annual Report (SEC Form 17-A); 3. 2016 Annual Corporate Governance Report; 4. Amendment of the Second Article of the Corporation’s Amended Articles of Incorporation to modify its secondary purposes; 5. Investment by way of subscription of up to 1,574,687,500 common shares at P1.00 par value per share of the increase in the authorized capital stock of the Corporation's wholly owned subsidiary, SBS Holdings and Enterprises Corporation and a partial payment of up to P800,000,000.00 of said subscription; and 6. Appointment of Mr. Esmeraldo A. Tepace as the Company's Chief Risk Officer concurrent to his post as EVP & COO.”
Other Relevant Information
“SBS Holdings and Enterprises Corporation was incorporated on December 5, 2016 with an authorized capital stock of P1.25 million divided in 1.25 million common shares with par value of P1.00 per share and an outstanding capital stock of P312,500.00 divided into 312,500 common shares with the Corporation owning 311,897 shares (99.8%). Its principal place of business is the same as its parent company, the Corporation, at 10 Resthaven St. San Francisco Del Monte, Quezon City. Its corporate purpose, among others, is to hold, acquire or participate in investments in companies involved in property related investments and to engage in property related businesses. Subject to such regulatory approvals, it recently approved to increase its authorized capital stock from P1.25 million to P5.5 m billion. The Corporation will inform the Philippine Stock Exchange for any update on the investment referred to in item 5.”