<article><a style="color: #000080;" href="http://www.dealstreetasia.com/?s=sbs+philippines" target="_blank">SBS Philippines Corp</a>, a listed chemical traders and distributor firm in the Philippines, is diversifying into the property and investments business.</article>

<a style="color: #000080;" href="http://www.dealstreetasia.com/?s=sbs+philippines" target="_blank">SBS Philippines Corp</a>, a listed chemical traders and distributor firm in the Philippines, is diversifying into the property and investments business.
&#8220;This move is intended to provide balance to counteract some of the fluctuations in the chemical trading business and at the same time grow and diversify the company’s income streams,&#8221; said SBS Philippines president and CEO Gerry Tan.
The company disclosed Monday (March 20) that its board of directors approved last February 28 to amend the secondary purpose of SBS&#8217;s articles of incorporation to include the holding, acquiring or participating in investments in property related assets.
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The diversification proposal will be submitted for shareholder approval in the forthcoming annual general meeting of SBS.
SBS claimed its chemical trading business has been highly successful that, over time, the company was able to invest its surplus funds to take advantage of opportunities in the real estate market and experience a significant improvement in values of its real estate investments.
In 2016, SBS unlocked the value of certain long term investments in property related holdings which were held for capital growth and completed with a significant one-off gain 
from the disposal of such investments assets in the amount of P858.8 million.
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&#8220;The Board of Directors believes that the business prospects of property investments have much potential given the robust growth of the property market and sees such investment strategy to contribute materially to the Company’s earnings on a sustainable and long-term basis,&#8221; SBS said in its statement.
Funded initially from its earnings from the sale of its investment properties, SBS intends to further take advantage of the opportunities in the real estate market and continue with such investment strategy as a separate business of the company to be undertaken by its wholly owned subsidiary, SBS Holdings and Enterprises Corporation.
SBS&#8217;s last trading price decreased 1.28 per cent or P0.080 to close at P6.17 per share on Monday (March 20).
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Chemical trading firm SBS Philippines diversifies into property, investments

Chemical trading firm SBS Philippines diversifies into property, investments

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Chemical trading firm SBS Philippines diversifies into property, investments

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