Dennis Uy news and updates

Rappler's latest stories on Dennis Uy

ARTICLE FINDER

Koko Pimentel says 'no need to worry' over China Telecom's entry to PH

Nov 15, 2018 - 9:30 AM

'Let us also be fair and not be allergic or raise alarm just because the foreign player is Chinese,' Senator Aquilino Pimentel III tells Rappler

Photo by Angie de Silva/Rappler

[ANALYSIS] Disturbing red flags in the 3rd telco selection

Nov 15, 2018 - 9:00 AM

Suspicions of cronyism, as well as serious national security and privacy concerns, deserve more than a passing glance from our leaders and policymakers

[EDITORIAL]: #AnimatED: China's telco play in the Philippines

Nov 12, 2018 - 10:00 AM

The coming entry of China Telecom into our communication infrastructure serves the interest of a covetous neighbor that has wronged us so many times

Blockbuster to lackluster: #TelcoSerye drama leaves people puzzled

Nov 11, 2018 - 7:32 PM

A contest with a single qualifier, an exciting legal drama, and romantic promises. These and a hodgepodge of twists are perfect for a #TelcoSerye.

IN CHARTS: Telco promises of Chavit Singson vs Dennis Uy-China Telecom

Nov 09, 2018 - 8:35 PM

Chavit Singson's Sear Telecom intends to spend a whopping P540 billion, and promises 100% national coverage and lightning speeds, should its bid be considered

Manny Pangilinan downplays Dennis Uy's 3rd telco

Nov 08, 2018 - 7:10 PM

Tycoon Manny Pangilinan and other PLDT officials say the 3rd major telco player has a lot of catching up to do, particularly in terms of building infrastructure

IN CHARTS: Udenna Corp-China Telecom's promises

Nov 08, 2018 - 8:45 AM

Provisional 3rd telco winner Mislatel promises to blow away Smart and Globe with super fast internet and wide coverage – at a very hefty price

Dennis Uy-China Telco consortium provisionally named 3rd telco | Evening wRap

Nov 07, 2018 - 9:42 PM

Watch Rappler’s evening newscast with Margie de Leon

Dennis Uy-China Telecom consortium provisionally named 3rd telco

Nov 07, 2018 - 5:33 PM

(UPDATED) Their group, called Mislatel Consortium, garners a total of 456.8 points out of 500 under the criteria

Uneven playing field? Disqualified bidders slam 3rd telco rules

Nov 07, 2018 - 4:45 PM

PT&T and Sear Telecom both need to pay a non-refundable appeal fee of P10 million, if they choose to file motions for reconsideration on their disqualification

BIDDING FOR THIRD. Members of the selection committee evaluate documents of new 3rd telco player-aspirants. Photo by Darren Langit/Rappler

Only Dennis Uy-China Telecom bid qualified, 2 others incomplete

Nov 07, 2018 - 1:35 PM

The bid documents of the Dennis Uy-China Telecom consortium are deemed qualified, while Sear Telecom and PT&T are both disqualified, which the two can still appeal

China Telecom, Dennis Uy's Udenna Corp team up for 3rd telco bid

Nov 07, 2018 - 9:55 AM

President Rodrigo Duterte previously said he wants a Chinese company to be the 3rd major telecommunications player

Dennis Uy invests in Manny Pangilinan's PXP Energy

Oct 29, 2018 - 12:25 PM

PXP Energy, a company which has interests in the West Philippine Sea, says it will use the money raised from the deal to fund oil exploration activities

Chavit Singson, Dennis Uy, to bid for 3rd telco

Oct 08, 2018 - 6:55 PM

Contenders can buy the bid documents for P1 million per set and need to cash out some P700 million worth of participation security

Dennis Uy's Chelsea Logistics unveils PH's biggest oil tanker

Oct 07, 2018 - 4:31 PM

The M/T Chelsea Providence is a 183.3-meter long medium-range oil tanker that can carry up to 54 million liters of petroleum

Dennis Uy takes a slice of Conti's resto

Sep 10, 2018 - 5:40 PM

The deal solidifies Davao-based tycoon Dennis Uy's presence in the restaurant industry

Dennis Uy to bring BGC to Pampanga

May 29, 2018 - 7:04 PM

Davao businessman Dennis Uy's Udenna Corp. aims to make Clark Global City as the 'new center' of the country in the next 10 years

NEW TYCOON. Davao City businessman Dennis Uy gave the media a sneak peek of Clark Global City. Photo by LeAnne Jazul/Rappler

PCC approves merger of Dennis Uy's Udenna with 2GO shareholder

May 07, 2018 - 6:00 PM

Udenna Corporation, holding firm of tycoon Dennis Uy, pays the Philippine Competition Commission P19.6 million as penalty for initially failing to notify the antitrust agency about the merger

COMPLIANCE. Back in August 2016, Dennis Uy's Udenna bought all of KGLI Investment Cooperatief UA's shares in KGLI-BV, which in turn owned 39.71% of KGLI-NM Holdings Incorporated. Photo was during a sit-down interview with Uy on July 12, 2017. Photo by LeAnne Jazul/Rappler

Dennis Uy-led Chelsea Logistics to expand into infrastructure

Mar 20, 2018 - 6:15 PM

The company says it will 'find [the] best ways to complement' the Build, Build, Build program of the Duterte administration

PRIME MOVER. The shipping and logistics business of the Udenna Group wants to expand into infrastructure. Photo from Chelsea Logistics

Dennis Uy's Udenna to challenge PCC decision or file notification

Feb 19, 2018 - 6:10 PM

Udenna is weighing two options – challenge the PCC decision by filing a motion for reconsideration or a court petition, or fulfill the PCC requirement to file a notification of its acquisition

HURDLE. The holding firm of tycoon Dennis Uy is facing an obstacle on its acquisition of a Dutch firm that indirectly holds interest in 2GO. Photo is from Rappler's sit down interview with Dennis Uy on July 12, 2017. Photo by LeAnne Jazul/Rappler

PCC voids merger of Dennis Uy's Udenna with 2GO shareholder

Feb 19, 2018 - 3:09 PM

The holding company of Dennis Uy is also being penalized over P19 million for its alleged failure to notify the Philippine Competition Commission of its merger with a Dutch company, which indirectly holds shares in 2GO's parent firm

FINED AND NULLIFIED. Udenna is being penalized for allegedly violating the notification rule under the Philippine Competition Act. Sit down interview with Udenna Corporation's Dennis Uy on July 12, 2017. Photo by LeAnne Jazul/Rappler

Net income of Chelsea Logistics quadruples on 2GO acquisition

Nov 16, 2017 - 2:12 PM

The increase in net income is driven by Chelsea Logistics Holdings Corporation's acquisition of two more logistics companies and shares in the 2GO Group

PRIME MOVER. The shipping and logistics business of the Udenna Group started in 2006 with the acquisition of a tanker in support of the operations of Phoenix Petroleum Philippines Incorporated. Photo from Chelsea Logistics

Dennis Uy's Phoenix Petroleum inks deal to buy FamilyMart

Oct 30, 2017 - 2:55 PM

The planned acquisition of FamilyMart's Philippine franchise from Ayala Land and the SSI Group would mark Phoenix Petroleum's entry into the fast-growing domestic convenience retail market

Duterte, PSC give cash incentives to SEA Games medalists

Sep 13, 2017 - 9:40 PM

President Rodrigo Duterte also tells the Philippine Sports Commission to look for the next award winning athletes in non traditional places

Chelsea Logistics offers to buy Starlite Ferries

Sep 04, 2017 - 2:00 PM

Dennis Uy says the planned acquisition will bring Chelsea Logistics a step closer to fulfilling its growth commitment

PLANNED ACQUISITION. Starlite and its subsidiaries have 14 vessels in the fleet, of which 5 are RORO passenger vessels that were acquired in 2016 and 2017. Photo from Starlite official website

#ThewRap: Things you need to know, August 16, 2017

Aug 16, 2017 - 12:30 PM

Hello Here s a roundup of news you need to know this Wednesday

How to grow a business, according to Dennis Uy

Aug 16, 2017 - 10:00 AM

The 43 year old businessman from Davao – also a staunch supporter of President Rodrigo Duterte – is one of the most aggressive dealmakers in the country acquiring companies left and right

Sit down interview with Phoenix Petroleum President and CEO Dennis Uy on July 12, 2017. Photo by LeAnne Jazul/Rappler

How the Sy family and Dennis Uy became business partners

Aug 15, 2017 - 6:04 PM

Davao based businessman Dennis Uy has earned the trust of the Philippines richest family the Sys who backed him in his foray into shipping and logistics

Sit down interview with Phoenix Petroleum President and CEO Dennis Uy on July 12, 2017. Photo by LeAnne Jazul/Rappler

Core business fuels Phoenix Petroleum's income

Aug 14, 2017 - 11:37 AM

The oil firm s strong performance was brought about by the 24 increase in revenues from its core petroleum business

Chelsea Logistics stock closes in the red on PSE debut

Aug 08, 2017 - 5:55 PM

Investors take their profits after initially seeing gains on Chelsea Logistics first day of trading

Big business winners, losers in Duterte's 1st year

Jul 24, 2017 - 5:03 PM

The stock price of Dennis Uy s Phoenix Petroleum increased about 92 from July last year while Ongpin associated Philweb s stock price fell 46 3

FIREBRAND. Though President Rodrigo Duterte has for the most part left businessmen on their own, his tirades against select businessmen have brought about  tremors at the Philippine Stock Exchange.

Chelsea Logistics' final offer price: P10.68 each

Jul 20, 2017 - 7:11 PM

This is lower compared to the P14 63 maximum offer price earlier set by the company

GO PUBLIC. Thirty percent of the company’s outstanding common shares will be listed with the Philippine Stock Exchange on August 8 under the ticker symbol 'CLC.' In the photo is Chelsea founder Dennis Uy. Photo by LeAnne Jazul/Rappler

PSE approves Dennis Uy's Chelsea Logistics IPO

Jul 19, 2017 - 5:52 PM

Priced at P14 63 each Chelsea Logistics expects to earn P7 59 billion from the initial public offering to fund its fleet expansion and acquisition of logistics and shipping firms among others

TO BE PRIME MOVER. 'Going public will further strengthen our position to serve the need for better shipping and logistics in a fast-growing economy like the Philippines,' Chelsea founder Dennis Uy says. Photo by LeAnne Jazul/Rappler

Ex-2GO chief decries attack over accounting scandal

Jul 14, 2017 - 1:51 PM

The only explanation for this fiasco is that the new external auditor might have found an opportunity to get back at us says Sulficio Tagud Jr

ACCOUNTING SCANDAL. 2GO last week restated its 2015 and 2016 financial statements, after a special audit requested by the firm's new management. Rappler file photo

Doubts hound KPMG following 2GO accounting scandal

Jul 13, 2017 - 5:30 PM

But KPMG RG Manabat says that its audit was based on the judgment and estimates made by 2GO management during that period

AUDITING FINANCIALS. Data from the Philippine Stock Exchange shows top 5 external auditing firms are SGV; Punongbayan & Araullo; KPMG; Reyes, Tacandong & Company; as well as Isla Lipana & Company. PSE file photo

2GO management, auditors may face over P1-M fine

Jul 11, 2017 - 11:30 PM

An investigation is underway into the restated financial statements of 2GO with the Securities and Exchange Commission looking into possible misrepresentation

OVER-INFLATED FIGURES? The restated financials pruned a whopping 90% off 2GO's net income in 2015 to P109.131 million. It also turned out that its 2016 net income should have been 74% lower than what was reported in 2015. Rappler file photo

Dennis Uy, Duterte's friend, creates P100-M mutual fund for gov't troops

Jul 11, 2017 - 10:31 PM

The mutual fund would offer financial security to soldiers and policemen as well as their families through sound investment practices and guidance programs

GRANT FOR SOLDIERS. Phoenix Petroleum CEO Dennis Uy (right) was among the major campaign contributors of President Rodrigo Duterte in 2016. Photo by Leanne Jazul/Rappler

Dennis Uy's Chelsea Logistics gets SEC approval for IPO

Jul 11, 2017 - 9:10 PM

The Securities and Exchange Commission approves Chelsea Logistics Corporation s planned P8 billion initial public offering

'GREAT DAY.' 'This is a great day for us. Thank you. I hope we can get the support of the investors,' Chelsea chief Dennis Uy says. Photo by Leanne Jazul/Rappler

Duterte visits PSE for campaign donor Dennis Uy

Jul 11, 2017 - 7:14 PM

Duterte is the first Philippine president in recent history to attend the anniversary of the listing of a company at the Philippine Stock Exchange

FIRST VISIT TO PSE. President Rodrigo Duterte and Cabinet members join Phoenix Petroleum CEO Dennis Uy onstage at the PSE trading hall. All photos by LeAnne Jazul/Rappler

2GO appoints new CFO, reports lower 2015, 2016 profits

Jul 10, 2017 - 12:15 AM

Dennis Uy the newly appointed 2GO chief says the restatement was made to ensure fair presentation of financial statements and establish accountabilities

RAISE GOVERNANCE. 'The restatement is a commitment of the new management and Board of Directors to raise corporate governance standards in the company,' 2GO president Dennis Uy says. Screenshot from 2GO 2015 annual report

Phoenix Petroleum seeks $126-M acquisition of Petronas Energy, Duta

Jul 06, 2017 - 9:25 PM

Before acquiring the two firms Phoenix Petroleum must secure the approval of the Philippine Competition Commission

ACQUIRE MORE. This comes after Phoenix and PDB (Netherlands) BV signed an MOU on planned 100% share acquisition of PEPI and its affiliate, Duta. Image from Phoenix Petroleum

Dennis Uy's Udenna Corporation buys Enderun Colleges

Jul 05, 2017 - 3:15 PM

The acquisition supports Udenna s aggressive expansion in industries vital to the Philippine economy s further growth says Davao based businessman Uy

VENTURING INTO EDUCATION. In the picture are (first row from left to right) Bob Guinto, Enderun's corporate secretary; Daniel Perez, senior vice president; Edgardo Rodriguez, president; Wilson Gan, vice president for academics; Jovel Cuaresma, director for academic and student support; (second row) John Suits and Alvin Lao, shareholders; Tricia Tensuan, VP for admissions and external relations; Javier Infante, founder and chairman; (third row) Dennis Uy, founder of Udenna; Rosanna Fores, treasurer; Jack Tuason, founder; (last row) Cheong Yan See, culinary head; Stephen CuUnjieng, co-chairman of Asia Evercore Partners, Inc.; and Thomas Wenger, managing director of Enderun Hospitality Management. Photo from Green Bulb

Dennis Uy's Chelsea Logistics wants a bigger pie of 2GO

May 18, 2017 - 6:39 PM

Chelsea Logistics which aspires to become the prime mover of goods and passengers in the Philippines plans to raise P8 billion via IPO in July

LOGISTICS CRAZE. Chelsea Logistics locks in a $200-million (P10.96 billion) loan with Bank of China, as 'it works toward a bigger role in the country’s transportation and logistics industry.' Image from www.chelseashipping.ph

Dennis Uy to develop $300M resort and casino in Cebu

May 04, 2017 - 5:02 PM

Udenna plans to break ground for the integrated resort and casino in 3 months time It targets to complete the development in 2022

CEBU CASINO. Dubbed as Lapu-Lapu Leisure Mactan, the development will rise within a 12-hectare prime beachfront 6 kilometers, or a 20-minute drive, away from the Cebu airport. Rappler file photo

Chelsea Logistics plans to go public to make the most of ASEAN trade

Apr 25, 2017 - 3:03 PM

CLC is the second company under the Udenna Group to go public following the listing of Phoenix Petroleum Philippines in 2007

ASEAN POTENTIAL. Chelsea Logistics chief Dennis Uy says the company's expansion aligns with initiatives to strengthen cooperation and promote trade within the Association of Southeast Asian Nations (ASEAN). Photo from Udenna Corporation

Logistics boosts 2GO's net income in 2016

Apr 17, 2017 - 6:20 PM

The management of 2GO attributes the strong performance to sustained topline growth coupled with improved cost efficiencies

LIFTED BY LOGISTICS. 2GO's non-shipping revenues grows by 30% to P10.32 billion in 2016 due to increased service offerings and improved market share from its major accounts. Screenshot from 2GO website

Phoenix boss Dennis Uy replaces Tagud as head of 2GO

Apr 10, 2017 - 7:07 PM

The Davao based Uy also serves as the chairman of Udenna Corporation the parent firm of Phoenix Petroleum Corporation and Chelsea Logistics Corporation

NEW CHIEF. Dennis Uy replaces Sulficio Tagud Jr. as president and CEO of 2GO's parent firm, NENACO. Photo of Uy from Apex Mining website