Asiabest Group International Inc. (ABG) is a shell company controlled by Tiger Resort Asia Limited. Tiger Resort Asia Limited is a foreign company incorporated in Hong Kong.
Tiger Resort Asia Limited is 100% owned by Universal Entertainment Corporation, a foreign company incorporated in Japan and listed in the Tokyo Stock Exchange. Universal Entertainment Corporation is controlled by Okada Holdings, Ltd., which owned most of its shares. Okada Holdings, Ltd. is a company incorporated in Hong Kong.
The casino resort Okada Manila is run by Tiger Resort Asia Limited of Hong Kong which is the controlling stockholder of Asiabest Group International Inc. Tiger Resort Asia Limited controls ⅔ of Asiabest Group International.
ABG was once traded at 32.85 a piece in February 2019 after the ABG shares purchased by Tiger Resort Asia Limited were crossed at the stock exchange.
Recently on August 24, 2020 around 327,000 ABG shares exchanged hands triggering ABG shares to rise to 8.50 a piece.
On October 21, 2020 trading ABG shares jumped 4.07% to close at 7.67 a share with a volume of 29,700 shares above its 65-day average of 23,035 shares.
The market has remembered ABG. ABG just filed its 3Q20 financial statements on October 20, 2020.
You can allocate a small portion of your portfolio and just leave it there. One day it will offset some of your other losses.
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Disclaimer and Disclosure: This is an independent analysis for discussion purposes with the aim of giving stock traders and investors an independent viewpoint. Accuretti Systems Inc. in day to day trading may have owned, or is considering buying or disposing, the shares of the companies mentioned in this commentary.