Alliance Select Holds 2017 Stockholders’ Meeting

Manila—(PHStocks)—Alliance Select Foods International Inc. (ASFII, PSE: FOOD) held the company’s annual stockholders meeting on June 15, 2017.

Re-elected to ASFII’s Board of Directors were Atty. Antonio C. Pacis, Joseph Peter Y. Roxas, Raymond K.H. See, George E. Sycip, and Marie Grace Vera Cruz as regular directors and Erwin M. Elechicon and Dobbin A. Tan as independent directors.

New officers were also appointed to ASFII. Lisa Angela Y. Dejadina has assumed the position of Chief Risk Officer, and Jose Philip F. Calderon has been appointed as Chief Audit Executive. The two positions were created in compliance with ASFII’s 2017 corporate governance manual, in compliance with SEC Memorandum Circular No. 8 Series of 2017.

The company reported that there has been steady improvement year-on-year due to its adherence to its key strategies of increasing sales, as well as reducing costs and expenses.

While the industry continues to be challenged by volatile prices, and regulatory and environmental incidents, the company reported that its first quarter performance in 2017 showed an improvement in profitability from the previous quarter. ASFII’s tuna and salmon business reported a 14% & 16% increase in net revenues, respectively.

In this said meeting, the company also presented its management report and appointed its independent external auditor for 2017, Reyes Tacandong & Co.

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