DENNIS UY, Duterte crony, bought or formed 35 companies in 24 months

By PINOYEXCHANGE

Everything counts in large amounts for bilyonaryo Dennis Uy who has come from obscurity to supernova under the term of his patron, President Rodrigo Duterte.

The Duterte crony has overshadowed the Forbes 50 Filipino bilyonaryos with his debt-propelled buying binge worth roughly P70 bllion in just the first two years of this administration.

The Davao-based businessman, who reported a P30 million donation to Duterte’s campaign kitty in 2016, has expanded his oil distribution business into shipping, estate development, hotel and casino, food retailing, water, and power.

Also Read: BDO-LED GROUP OF BANKS SET TO FORECLOSE DENNIS UY ASSETS

Here are the companies Uy bought or formed so far under the Duterte administration:

2016

1) Chelsea Logistics Holdings Corp.
2) Udenna investments BV
3) Davao Gulf Marine Services, Inc.
4) Trans-Asia Shipping Lines, Inc. (TASLI)
5) Ocean Star Shipping Corp.
6) Starsy Shoppe, Inc.
7) Dynamic Cuisine, Inc.
8) Quality Metal & Shipworks, Inc.
9) Chelsea Marine Manpower Resources, Inc. (CMMRI)
10) KGLI-NM Holdings, Inc. (majority owner of Negros Navigation which2Go shipping Group)

2017

1) Udenna Infrastructure Corp.
2) Le Penseur Inc.
3) PH Travel and Leisure Holdings Corp.
4) Udenna Water Integrated Service Inc.
5) Valueleases Inc.
6) Clark Global City Corp. (177-hectare Global Gateway Logistics City in Clark)
7) Aetos Air Philippines Inc.
8) Lapu-Lapu Leisure Inc. (casino)
9) Donatela Hotel Panglao Corp.
10) Starlite Ferries Inc.
11) Worklink Services Inc.
12) Phoenix LPG Philippines Inc.
13) Duta Inc. (owner of Petronas LPG)
14) Kaparangan Inc.
15) Enderun Colleges Inc.
16) ADF Enderun 1010 Inc.
17) Lapu-Lapu Land Corp.
18) Global Gateway Development Corp. (GGDC) (Cayman)
19) GGDC Holdings Inc. (Cayman)
* The Cayman firms were used for his P50.2 billion takeover of the Clark project from Kuwaiti investors

2018

1) Philippine FamilyMart CVS, Inc.
2) Joint venture with TIPCO Asphalt Public Company Limited (TIPCO Asphalt)
3) Pos!ble.net, a digital payment startup (P72 million)
4) Restauarnt chian Conti’s Holdings Corp. (CHC)
5) H2O Ventures Corp. (Calapan Waterworks Corp.)
6) Autostrada Motore Inc.(Philippine Ferrari distributor)

Before Duterte won as president, Uy formed or bought into less than a dozen firms in 20 years since his first investment:

1) Udenna Trade Corp. (2014)
2) Udenna Tower Corp. (2014)
3) Udenna Capital Inc. (2012)
4) Udenna Energy Corp. (2010)
5) Udenna Environmental Services Inc. (2010)
6) Udenna Development Corp. (2010)
7) Udenna Managements and Resources Corp. (2007)
8) Phoenix Petroleum Holdings Inc. (2007)
9) Phoenix Udenna Insurance Brokers Inc. (2007)
10) Global Synergy Trade and Distribution Corp. (2007)
11) Calaca Industrial Seaport Corp. (1996)

These figures were culled from the report made by Uy to the Securities and Exchange Commission in compliance with the disclosure requirements for its backdoor listing through ISM Communications Corp. of Marcos crony Roberto V. Ongpin to hold Uy’s P72 billion assets.

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