Jump to content

Dennis Uy

From Wikipedia, the free encyclopedia
Not to be confused withDennis Anthony Uy.
In thisPhilippine name,themiddle nameor maternalfamily nameisAngand the surname or paternal family name isUy.
In thisChinese name,thefamily nameisNg ( hoàng ).
Dennis Uy
Uy in 2019
Born
Dennis Ang Uy

(1973-09-26)September 26, 1973(age 51)
Davao City,Philippines
EducationDe La Salle University
Occupations
  • Business magnate
  • government official
  • diplomat
Known forFounder and owner ofPhoenix Petroleum
SpouseCherylyn Chiong
Children3

Dennis Ang Uy[1](Chinese:HoàngThưHiền;Pe̍h-ōe-jī:N̂g Chu-hiân;pinyin:Huáng Shūxián;[2]born September 26, 1973[3]) is aFilipinobusinessman, government official, and diplomat. Uy is the founder ofUdenna Corporation,which has stakes in various businesses includingPhoenix Petroleum.

Early life and education

[edit]

Dennis Ang Uy was born and raised inDavao City[4]to an ethnic Chinese family based in Davao, which is part of the Uys' third generation. Uy's grandparents, Ega Uy and Tao Sui Eng were ethnic Chinese who settled in Davao as merchants. They had a store which sold fishing equipment and bread while his parents ran a small business which soldcopra.[5]

He is the eldest among siblings.[6]According to his own account, Dennis played basketball as a childhood hobby while at the same time sold school supplies and basketball cards to his classmates.[5]

In 1993, Uy studied inDe La Salle UniversityinManilato pursue a Bachelor of Science in Business Management degree and started to trade in the stock market.[5]Since he had an average academic performance by his own account he decided against being a lawyer and described himself to be poor inmemorizationto consider pursuing a career in law.[6]

Career

[edit]

Business career

[edit]
President Rodrigo Duterte applauds after awarding the International Chamber of Commerce (ICC) Global Excellence Award to Udenna Corporation President Dennis Uy

After finishing his tertiary education, Dennis Uy helped ran his family's business and interacted with older businessmen.[5]His family's business was based inTagum,and was involved in mining, supermarkets, car dealership among other industries. Uy worked with his family for ten years and at one point ran seven firms simultaneously.[6]He decided to start his own business to gain independence as he felt that he did not have the freedom he aspired for himself working for his family.

He started his own business using income he gained from trading stocks while he was still in college and set up Dencio's Kamayan, a barbecue store (which shares the same name but unrelated to aManila-based restaurant chain). He started his business portfolio independently without the aid of his family members. The barbeque chain grew to at least eight outlets before handing over the business to his sister when he decided to focus on participating in the petroleum industry.[5][6]He also operated two community newspapers which served Davao City but both became defunct.[6]

In 2002, he along his wife[5]foundedUdenna Corporation,aholdings company[1]that would later manage his business interests in various industries. Within the same year,Phoenix Petroleumthen known as the Oilink Mindanao Distribution Company was established. In 2004, the company was renamed as Davao Oil Terminal Services Corp. (DOTSCO)[7]As part of this business, Uy set up a six million-barrel oil terminal serving businesses in the Davao region.[5]Phoenix Petroleum adopted its name in 2006 and was listed in the Philippine Stock Exchange in 2007 and became the first Davao City-based company to join the stock market.[7]

He founded Chelsea Logistics Holdings Corp. (CLHC) which is involved in the shipping and logistics industry, and a passenger ferry company.[7]

In 2016, Uy's Udenna Corporation had various acquisitions. Udenna secured permission from thePhilippine Amusement and Gaming Corporationto develop a casino resort inMactan,Cebu.It also entered theliquefied petroleum gas(LPG) industry and acquiredEnderun Colleges.[1]

In November 2017, Udenna took over the development of the formerGlobal Gateway Logistics Cityat theClark Freeport Zonein Pampanga which was later relaunched asClark Global City.[8]And in 2018, a consortium between Udenna's Mislatel (now called asDito Telecommunity) andChina Telecomwonthe government-sanctioned biddingthat would allow the consortium to become the third majortelecommunications providerin the Philippines challenging the duopoly ofPLDTandGlobe Telecom.

In 2018, he bought 70% of ownership of Conti's Bakeshop and Restaurant.


Forbesestimated Uy's 2020 net worth at$650 million, ranking him as the Philippines' 22nd-richest.[9]

Dennis Uy's Udenna Corporation bought 100 million common shares of Atok-Big Wedge Co. Inc., where Uy is a director and vice chairman.[10]Atok-Big Wedge Co, Inc. a listed corporation in PSE, has 20% ownership of United Kingdom-based Forum Energy Ltd. which has the right of oil exploration in SC72 in theSouth China Sea.Forum Energy Ltd. has an ongoing talks with China for joint oil exploration after President Duterte– a close friend of Dennis Uy– lifted the moratorium on oil exploration.[11]

In September 2024, Uy sold Conti’s Bakeshop & Restaurant and Wendy’s Philippines, with his Eight8Ate Holdings Inc., to entrepreneur Crystal Jacinto.[12]

Diplomatic career

[edit]

Uy is also a diplomat. He has been the honorary consul toKazakhstansince November 2011.[13]and is tasked to develop the bilateral ties of the Philippines with the Central Asian nation.[14]

Government Service career

[edit]

Uy was appointed in 2016 as the Presidential Adviser on Sports Development by thenPresidentRodrigo Roa Duterte.

Involvement in sports

[edit]

Uy through his company Phoenix Petroleum, owns a franchise in thePhilippine Basketball Association.The team known as thePhoenix Super LPG Fuel Mastersjoined the PBA in 2016 as the Phoenix Fuel Masters after buying theBarako Bull Energyfranchise. He is also the team's board governor. On July 18, 2016, Uy was appointed by then-President of the Philippinesand allyRodrigo Duterteas the presidential adviser for sports.[15]

Personal life

[edit]

Dennis Uy is married to Cherylyn Chiong who is a graduate ofLa Salle Academy,Iliganin high school and Business and Finance from theAteneo de Davao Universitywith whom he has three children; two daughters[5]and a son.[16]He is also a close friend of former Philippine PresidentRodrigo Duterteand was a major donor toDuterte's presidential campaign in 2016.[7]

Controversies

[edit]

Graft complaint against Uy and his complaints against ABS-CBN

[edit]

In 2021, a graft complaint was filed before theOmbudsmanagainst Uy,Alfonso Cusiand several others over the sale ofChevron's investment in theMalampayaproject toUdenna Corporation,wherein the anomalies allegedly resulted in losses to thegovernment.Uy later filed cyberlibel complaints againstABS-CBN Corporation,whosenews organizationhad reported on a complaint against him, claiming that the latter's articles were libelous. TheDavao CityOffice of the Prosecutor, in its resolution dated May 5, 2022, dismissed these complaints for lack of probable cause, saying that the articles were not defamatory.[17]

Phoenix Petroleum smuggling case

[edit]

On April 24, 2013, the Department of Justice charged Uy for alleged illegal importation of petroleum products.[18]The charges were dismissed in 2021.[19]

[edit]
  • Media related toDennis Uyat Wikimedia Commons

References

[edit]
  1. ^abcDela Paz, Chrisee (16 August 2017)."How to grow a business, according to Dennis Uy".Rappler.Retrieved28 November2018.
  2. ^"Hoàng thư hiền hà hứa nhân dã?"[Who is Dennis Uy?].Chinese Commercial News(in Chinese). November 8, 2018.RetrievedJanuary 15,2022.
  3. ^Jara, Marifi (20 November 2018)."A glimpse of the beginnings of a growing empire".BusinessWorld.Retrieved25 January2019.But the most ambitious — and most controversial — undertaking so far of the 44-year-old entrepreneur [Uy] is in yet another sector: telecommunications.
  4. ^"Dennis Uy to deliver keynote speech at BW Economic Forum".BusinessWorld.18 May 2018.Retrieved25 January2019.
  5. ^abcdefghGonzales, Iris (1 July 2017)."The golden age of Dennis Uy".The Philippine Star.Retrieved25 January2019.
  6. ^abcdeFlores, Wilson (29 April 2018)."Dennis Uy: 'In business, dapat may forever'"[Dennis Uy: ‘In business, there should be forever’].The Philippine Star.Retrieved25 January2019.
  7. ^abcdCana, John Paul (18 May 2018)."From Gas Stations to Shipping to Casino Resorts: The Unstoppable Rise of Dennis Uy".Entrepreneur Philippines. Archived fromthe originalon 25 January 2019.Retrieved25 January2019.
  8. ^Miraflor, Madelaine (19 November 2017)."Duterte pal takes full control of $1-B Clark Global City".Manila Bulletin.Archived fromthe originalon 27 November 2018.Retrieved27 November2018.
  9. ^Uy, C. (September 16, 2020)."Dennis Uy".Forbes.RetrievedFebruary 6,2021.
  10. ^"Udenna Corp buys 100-million shares in mining firm Atok-Big Wedge".16 July 2019.
  11. ^"Atok-Bid Wedge keeps Forum stake".BusinessWorld.16 April 2020.
  12. ^"From P11.6B to just P2B? Dennis Uy reportedly unloads Conti's, Wendy's at huge discount".bilyonaryo.com.September 3, 2024.RetrievedSeptember 4,2024.
  13. ^Ramos, Christie Marie (7 November 2018)."Who is Dennis Uy?".Philippine Daily Inquirer.Retrieved25 January2019.
  14. ^Mananquil, Millet (29 April 2018)."The heart & core of Dennis Uy".The Philippine Star.Retrieved25 January2019.
  15. ^Dy, Richard (19 July 2016)."Phoenix boss Dennis Uy named Duterte's adviser for sports".Fox Sports.Retrieved25 January2019.
  16. ^"Ferraris for a kiddie party & Subaru's Tanabata Festival".The Philippine Star.4 July 2018.Retrieved25 January2019.
  17. ^"Prosecutor dismisses Dennis Uy cyberlibel complaint vs ABS-CBN".ABS-CBN News.June 28, 2022.RetrievedJuly 1,2022.
  18. ^"Phoenix Petroleum: Smuggling charge 'unsubstantiated'".RAPPLER.2013-04-25.Retrieved2023-06-28.
  19. ^"SC upholds dismissal of P5.9-billion smuggling case vs Dennis Uy".RAPPLER.2021-12-14.Retrieved2023-06-28.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Dennis_Uy&oldid=1243950836"