One of President Rodrigo Duterte's biggest campaign contributors and fellow Davaoeno, Dennis Uy expanded his business beyond petroleum since being thrust into the national spotlight in 2016.
The 47-year-old Uy is the Philippines' 22nd wealthiest, with a net worth of $650 million (P32.3 billion) according to Forbes Magazine. He is also one of the country's youngest billionaires.
It started with Phoenix Petroleum, once called a "small" player among giants like Petron, Shell, and Caltex. Fast-forward to 2021 and Uy's Udenna bought out Shell Petroleum from the Malampaya gas field for $460 million.
Here are the businesses in the Philippines that are controlled by Dennis Uy:
Phoenix Petroleum
A young Dennis Uy started Phoenix Petroleum in 2002, with the aim to place fourth in the field led by the big three -- Shell, Caltex, and Petron. Phoenix made its way north from Mindanao, reaching Luzon in 2008.
Phoenix Petroleum was listed on the PSE in 2007, the first oil company to do so after the 2008 Oil Deregulation Law. Ten years later, Phoenix Petroleum expanded to cooking gas with Phoenix LPG.
Chelsea Logistics and Infrastructure
Chelsea consolidates Uy's cargo shipping, passenger ferry (Starlite, Trans-Asia, SuperCat) and logistics (2GO, WorkLink) businesses.
DITO Telecommunity
Vaunted as the country's third telco, DITO launched this year and aims to break the price duopoly in the telecom space by offering ultra-fast internet at lower prices.
DITO is a joint venture between Udenna Corp and China Telecom.
FamilyMart
Phoenix Petroleum bought the local operations of Japan's FamilyMart in the Philippines from the Ayalas in late 2017, seeking synergy between its pump stations and the convenience store chain.
Wendy's
Uy's Udenna bought all 51 Wendy's stores in the Philippines in November 2019.
"Food is a basic need and Filipinos love to eat. We want to be in industries where there is growth and we will continue to expand our footprint in the restaurant space by offering quality, affordable dining out options,” he said at that time.
Conti's
Uy started growing his food business by acquiring Conti's in 2018, betting on Filipinos' cravings for the restaurant-bake shop chain's Mango Bravo cake and baked salmon.
"We are very bullish on the Philippine food industry, which has expanded with the growing demand for convenience," Uy said.
Enderun Colleges
Uy's acquisition of the hospitality school was among the first during Duterte's term.
“Enderun Colleges provides us another opportunity to support the Philippine economy’s growth,” Uy said in a statement announcing the purchase in 2017.
“We believe that quality education and skills training are what make our human capital more productive and competitive,” he said.
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