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)

Jun 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 - Other Events

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 Holds 2023 Annual Meeting
Background/Description of the Disclosure
MANILA, PHILIPPINES – At the Company’s Annual Stockholders’ Meeting held virtually today, Alliance Select Foods International, Inc. (“ASFII” or the “Company”; PSE: FOOD) President and CEO Jeoffrey P. Yulo reported that the ASFII Parent’s 2022 volume grew by 14% and revenue by 6% compared to 2021. The growth was driven by sales generated with new and revived old customers. There was a marked increase in the volume of pouched tuna exported to Europe and Japan, as well as an expanded customer base for frozen loins, fishmeal and fish oil products. The Company’s increased production volume led to a 14% improvement in plant utilization, while better cost management lowered manufacturing expenses by 19%, and labor cost by 20%. The group’s administrative expenses improved by 39% or by US$2.2mn, while finance costs improved by 46% or by US$0.3mn from 2021, as the Company tightened controls and pre-terminated higher-interest loans. Group net revenues of US$34.6mn reduced by 15% from 2021 due to the sale of the Company’s Akaroa subsidiary in November 2021. Without the effect of Akaroa operations in 2021, 2022 revenue actually improved by 5.1% or by US$ 1.7mn from 2021. Q1 2023 performance is well positioned for a turn-around. However, poor tuna catch and the resulting global upsurge in fish prices reduced the Company’s margins. “We are expanding our customer base, generating new income streams and steadily improving our manufacturing process,” said Yulo who anticipates an improved fish supply and better raw material price in H2 2023. “We will continue to build on the momentum of last year’s H2 growth.”
Other Relevant Information
Please see attached SEC Form 17-C (Press Release)