Asiabest Group International, Inc. (ABG) secured stockholder approval for a major expansion and recapitalization program during its annual meeting held August 11, 2026. The blueprint will strengthen the company’s capital base and clear the way for two operating businesses to be brought into the firm.
Shareholders voted to raise ABG’s authorized capital stock to as much as ₱3 billion, and authorized the board to move forward with private placement plans and a public follow-on offering.
The meeting also approved plans to acquire 100 percent of Industry Movers Corp. (IMC), a maritime and logistics operator with an initial fleet of over 40 vessels, plus the business or underlying properties of Kabalayan Housing Corp. (KHC).
Bringing in IMC will give ABG direct access to domestic and international sea freight, while supporting nationwide transport of raw materials, prefabricated parts, modular units and construction equipment. The KHC deal will build a strategic land bank for housing, modular building and other projects.
Both transactions are valued between ₱4.7 billion and ₱6.7 billion, to be settled through the issuance of 188 million to 268 million ABG shares. This range reflects an implied value of ₱25 per share, and remains subject to final independent valuation and regulatory clearances.
A key focus of the meeting was ABG Modular Development Corp., a wholly owned subsidiary established in January 2026. The unit will scale up delivery of prefabricated concrete modular structures for mass housing and school facilities. The company is positioning its modular building platform to help address a national housing backlog of around 6.5 million units and a shortage of more than 165,000 classrooms.
ABG Modular recently completed and handed over a five-classroom single-storey building for the Romana C. Acharon Central Elementary School in General Santos City, which was damaged by earthquakes. The classrooms were built under the Department of Education’s basic education facilities program.
“We are building an integrated enterprise where every business has a purpose beyond its own success. Raw materials, manufacturing, logistics, and delivery reinforce one another, creating a group that is greater than the sum of its parts,” said ABG treasurer and chief financial officer Maria Rita S. Pueyo. “That integration gives us the ability to execute faster, operate more reliably, and be better positioned for long-term growth.”
“That is why we will keep investing in our modular construction capability year after year for the foreseeable future — because it is the only way to deliver homes, schools, and clinics at the speed and cost that ordinary Filipino families need,” Pueyo added.
ABG aims to close the IMC and property transactions by the fourth quarter of 2026, with the follow-on offering targeted for 2027.
