SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

May 15, 2023

2. SEC Identification Number

CS200319138

3. BIR Tax Identification No.

227-409-243-000

4. Exact name of issuer as specified in its charter

ALLIANCE SELECT FOODS INTERNATIONAL, INC.

5. Province, country or other jurisdiction of incorporation

Pasig City, NCR, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

Suite 3104 West Tower PSEC Exchange Rd., Ortigas Business District, Pasig City, Metro Manila, Philippines Postal Code 1605

8. Issuer's telephone number, including area code

(02) 8637-8800

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON STOCK	2,499,712,463
DEBT OUTSTANDING (AS OF DEC. 31, 2022)	US$ 14,827,795

11. Indicate the item numbers reported herein

Item No. 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Alliance Select Foods International, Inc.FOOD

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Alliance Select Net Revenues More Than Double in 1Q23
Background/Description of the Disclosure
Alliance Select Foods International Inc. (“ASFII” or the “Company,” PSE: FOOD) posted consolidated net revenues of USD 13.7 million in the first quarter of 2023, more than double the USD 6.4 million recorded during the same period last year. The performance of tuna export product lines has improved amid a decline in sea freight rates. Higher revenues partially offset the increase in raw material costs, resulting in a 65% year-on-year growth in gross profit to USD 847 thousand with a gross profit margin of 5.1%. Earnings before interest, taxes, depreciation, and amortization (EBITDA) remained resilient at USD 182 thousand for the quarter. The company posted a consolidated net loss of USD 244 thousand during the first quarter of the year, significantly lower than the USD 394 thousand net loss in the comparable period last year. Due to the high interest rate environment, finance costs have increased, while selling and administrative expenses have climbed in tandem with the growth in production. ASFII President and CEO Jeoffrey P. Yulo said, “Our first-quarter results showed positive growth momentum. Tuna products continue to be in high demand in overseas. Markets. Despite the challenges presented by the rise in inflation, we will continue to enhance our operational efficiency and marketing strategy in order to achieve higher growth this year.”
Other Relevant Information
Please see attached SEC Form 17-C.