Francis Lloyd Chua has expanded his footprint in the Philippine business sector by acquiring a 67% stake in Asiabest Group International (ABG), a dormant firm now revitalized as the Philippine Stock Exchange’s top performer.
The transaction was completed through PremiumLands Corp. (PLC) and Industry Holdings and Development Corp. (IHDC), both chaired by Chua, marking a significant milestone in his long-term growth strategy.
PLC, established in 2012, focuses on addressing the nation’s housing shortage, while IHDC, founded in 2018, specializes in logistics, infrastructure, construction, and manufacturing.
This acquisition aligns seamlessly with Chua’s existing investments, including a stake in construction leader EEI Corp., pre-cast technology, and port and shipping services.
The move reflects a calculated approach to building a diversified portfolio while addressing critical industry needs across the Philippines.
ABG has emerged as a top-performing stock, experiencing a staggering increase of over 900% this year. Closing at ₱26.20 on Thursday, the company’s value has skyrocketed since its acquisition.
Owned by the parent company of Okada Manila, ABG’s transformation into a market leader highlights Chua’s ability to identify undervalued assets and turn them into significant performers.
Chua’s vision for ABG is rooted in sustainability and innovation, with plans to integrate advanced technologies to enhance operational efficiency.
By addressing rural development and focusing on underserved markets, the acquisition not only solidifies Chua’s standing in the business community but also aligns with national priorities for economic growth and modernization.
Jaja has a degree in journalism and took classes in international law and business communication. Her career spans roles at prominent international media outlets, including International Business Times, Celebeat and Delightful Philippines. As a news editor, Jaja covered a wide range of beats, including legal, business, economy, cryptocurrency, personal finance, gaming, technology, and entertainment.