Dennis Uy
Dennis Ang Uy[1] (Chinese: 黃書賢; Pe̍h-ōe-jī: N̂g Chu-hiân; pinyin: Huáng Shūxián;[2] born September 26, 1973[3]) is a Filipino businessman, government official, and diplomat. Uy is the founder of Udenna Corporation, which has stakes in various businesses including Phoenix Petroleum.
Dennis Uy | |
|---|---|
Uy in 2019 | |
| Born | Dennis Ang Uy September 26, 1973 |
| Education | De La Salle University |
| Occupations |
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| Known for | Founder and owner of Phoenix Petroleum |
| Spouse | Cherylyn Chiong |
| Children | 3 |
Early life and education edit
Dennis Ang Uy was born and raised in Davao 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 sold copra.[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 in De La Salle University in Manila to 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 in memorization to consider pursuing a career in law.[6]
Career edit
Business career edit
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 in Tagum, 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 a Manila-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] founded Udenna Corporation, a holdings company[1] that would later manage his business interests in various industries. Within the same year, Phoenix Petroleum then 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 the Philippine Amusement and Gaming Corporation to develop a casino resort in Mactan, Cebu. It also entered the liquefied petroleum gas (LPG) industry and acquired Enderun Colleges.[1]
In November 2017, Udenna took over the development of the former Global Gateway Logistics City at the Clark Freeport Zone in Pampanga which was later relaunched as Clark Global City.[8] And in 2018, a consortium between Udenna's Mislatel (now called as Dito Telecommunity) and China Telecom won the government-sanctioned bidding that would allow the consortium to become the third major telecommunications provider in the Philippines challenging the duopoly of PLDT and Globe Telecom.
In 2018, he bought 70% of ownership of Contis Bakeshop and Restaurant
Forbes estimated 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 the South 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]
Diplomatic career edit
Uy is also a diplomat. He has been the honorary consul to Kazakhstan since November 2011.[12] and is tasked to develop the bilateral ties of the Philippines with the Central Asian nation.[13]
Government Service career edit
Uy was appointed in 2016 as the Presidential Adviser on Sports Development by then President Rodrigo Roa Duterte.
Involvement in sports edit
Uy through his company Phoenix Petroleum, owns a franchise in the Philippine Basketball Association. The team known as the Phoenix Super LPG Fuel Masters joined the PBA in 2016 as the Phoenix Fuel Masters after buying the Barako Bull Energy franchise. He is also the team's board governor. On July 18, 2016, Uy was appointed by then-President of the Philippines and ally Rodrigo Duterte as the presidential adviser for sports.[14]
Personal life edit
Dennis Uy is married to Cherylyn Chiong who is a graduate of La Salle Academy, Iligan in high school and Business and Finance from the Ateneo de Davao University with whom he has three children; two daughters[5] and a son.[15] He is also a close friend of former Philippine President Rodrigo Duterte and was a major donor to Duterte'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 the Ombudsman against Uy, Alfonso Cusi and several others over the sale of Chevron's investment in the Malampaya project to Udenna Corporation, wherein the anomalies allegedly resulted in losses to the government. Uy later filed cyberlibel complaints against ABS-CBN Corporation, whose news organization had reported on a complaint against him, claiming that the latter's articles were libelous. The Davao City Office 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.[16]
Phoenix Petroleum smuggling case edit
On April 24, 2013, the Department of Justice charged Uy for alleged illegal importation of petroleum products.[17] The charges were dismissed in 2021.[18]
References edit
- ^ a b c Dela Paz, Chrisee (16 August 2017). "How to grow a business, according to Dennis Uy". Rappler. Retrieved 28 November 2018.
- ^ "黃書賢何許人也？" [Who is Dennis Uy?]. Chinese Commercial News (in Chinese). November 8, 2018. Retrieved January 15, 2022.
- ^ Jara, Marifi (20 November 2018). "A glimpse of the beginnings of a growing empire". BusinessWorld. Retrieved 25 January 2019.
But the most ambitious — and most controversial — undertaking so far of the 44-year-old entrepreneur [Uy] is in yet another sector: telecommunications.
- ^ "Dennis Uy to deliver keynote speech at BW Economic Forum". BusinessWorld. 18 May 2018. Retrieved 25 January 2019.
- ^ a b c d e f g h Gonzales, Iris (1 July 2017). "The golden age of Dennis Uy". The Philippine Star. Retrieved 25 January 2019.
- ^ a b c d e Flores, Wilson (29 April 2018). "Dennis Uy: 'In business, dapat may forever'" [Dennis Uy: ‘In business, there should be forever’]. The Philippine Star. Retrieved 25 January 2019.
- ^ a b c d Cana, John Paul (18 May 2018). . Entrepreneur Philippines. Archived from the original on 25 January 2019. Retrieved 25 January 2019.
- ^ Miraflor, Madelaine (19 November 2017). . Manila Bulletin. Archived from the original on 27 November 2018. Retrieved 27 November 2018.
- ^ Uy, C. (September 16, 2020). "Dennis Uy". Forbes. Retrieved February 6, 2021.
- ^ "Udenna Corp buys 100-million shares in mining firm Atok-Big Wedge". 16 July 2019.
- ^ "Atok-Bid Wedge keeps Forum stake". BusinessWorld. 16 April 2020.
- ^ Ramos, Christie Marie (7 November 2018). "Who is Dennis Uy?". Philippine Daily Inquirer. Retrieved 25 January 2019.
- ^ Mananquil, Millet (29 April 2018). "The heart & core of Dennis Uy". The Philippine Star. Retrieved 25 January 2019.
- ^ Dy, Richard (19 July 2016). "Phoenix boss Dennis Uy named Duterte's adviser for sports". Fox Sports. Retrieved 25 January 2019.
- ^ "Ferraris for a kiddie party & Subaru's Tanabata Festival". The Philippine Star. 4 July 2018. Retrieved 25 January 2019.
- ^ "Prosecutor dismisses Dennis Uy cyberlibel complaint vs ABS-CBN". ABS-CBN News. June 28, 2022. Retrieved July 1, 2022.
- ^ "Phoenix Petroleum: Smuggling charge 'unsubstantiated'". RAPPLER. 2013-04-25. Retrieved 2023-06-28.
- ^ "SC upholds dismissal of P5.9-billion smuggling case vs Dennis Uy". RAPPLER. 2021-12-14. Retrieved 2023-06-28.