Universal Entertainment Corporation (UEC) has successfully completed the transfer of shares in the Philippine-listed company Asiabest Group International (ABG).
The transfer from the Japan-based group from its subsidiary Tiger Resort Asia Limited (TRA), to PREMIUMLANDS CORP. (PLC) has been completed as of August 8th, 2025.
This transfer marks a significant shift in the Okada Manila operator’s business strategy, following a rescheduling of the execution date initially set for the end of May 2025.
ABG, which was originally acquired in 2018 to support the listing of Tiger Resort, Leisure and Entertainment, Inc. (TRLEI) on the Philippine Stock Exchange, has been deemed no longer necessary for this purpose due to the steady financial performance of Okada Manila, operated by TRLEI. As a result, TRA has opted to alter its approach.
Located in Makati City, Philippines, ABG primarily engages in real estate investment with a capital of PHP300 million ($5.3 million), and TRA holds 66.6 percent of its shares. The share transfer involves 200 million shares, representing 100 percent of ABG, with a transaction value of PHP510.4 million ($9.1 million).
PREMIUMLANDS CORP., also based in Makati City, focuses on real estate development and has a capital of PHP2 billion ($35.8 million).
The delay in finalizing this transfer was due to the ongoing process of lifting the suspension of trading on the Philippine Stock Exchange, which was necessary for completion. UEC has stated that this transfer will not materially affect its consolidated financial results for the fiscal year ending December 31st, 2025.
