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 Aug 15, … A Pampanga native, Uy moved to the province when he was 11 years old after immigrating from China, and learned to assimilate into his new host country despite not speaking a single word of English or Tagalog. When Dennis Uy was being denied loans by big banks, it was Equitable PCI Bank that trusted the Davao-based entrepreneur. In September 2016, Uy's holding firm Udenna Corporation acquired the stake of KGLI-NM Holdings in Negros Navigation through a $120-million loan from BDO. P235.4 million in operating losses from Negros Navigation. – Rappler.com. The Uys have roots in Tagum City and are prominent in the Davao region's local business and political circles. Dennis Anthony H. Uy of Pampanga, different from the DAU of Davao, walks into the veranda of The Club Filipino one recent Saturday morning with a … Try lechon bread instead, Magical Christmas Books for Kids to Get Them in the Holiday Spirit, Alibaba offered clients facial recognition to identify Uighur people, report reveals, Council says pandemic worsened trafficking of vulnerable groups. Julia Clarete, tinanggal sa TV5 series dahil sa talent fee issue? Quezon City Police finally releases the body of slain Anakpawis party-list leader Randy Echanis to his family.But the quest for justice is far from over. "I was the one who went to Tessie (Sy-Coson, BDO Unibank chairperson)," Uy said. Like the other Dennis who hails from Davao, Dennis Anthony Uy was raised in the province. In the first 9 months of 2006, Metro Pacific reported P235.4 million in operating losses from Negros Navigation. I only assumed the position when the [SM's acquisition] deal was done. As Christmas is around the corner, it is a great opportunity to surprise friends or loved ones who struggled with adapting to the new normal working model. We’re talking about Dennis Anthony Uy, a rising star in the telco scene with his barely five-year-old brainchild Converge. India; Pakistan; ... was founded by Filipino Chinese spouses Dennis Anthony Uy and Maria Grace Uy. Dennis Uy is founder of Udenna, a conglomerate with interests spanning petroleum, oil and gas, shipping, logistics, real estate, education and gaming. This is a way of giving back to our community," said Uy. Dennis Anthony Uy. Join Facebook to connect with Uy Denis and others you may know. The year 2006 was busy for Uy. There’s another Dennis Uy in town, and his broadband operator Converge ICT Solutions is making the rounds. WATCH: Netflix Releases Teaser to ‘The Prom’, Starring Meryl Streep, James Corden, and Nicole Kidman. Uy, on the other hand, was in the thick of preparations for the 2007 listing of his independent oil retailer, Phoenix Petroleum Philippines Incorporated, in the Philippine Stock Exchange. A nominee company of the SM group, Unique Choice Global Limited, then bought the rest of the Negros Navigation shares of Tagud's group. "I could have gone to Lance (Gokongwei) since we are also good friends, but I needed to move fast.". He was also spinning off the shipping and logistics ventures into Chelsea Logistics Holdings Corporation. I should have entered alone but I could not take the size. The easiest route was to approach BDO because they know the account and I'm familiar with them. But at the time, [2GO] was still too big for us to swallow," Uy explained. He’s From Pampanga. Join Facebook to connect with Uy Dennis and others you may know. It was also the same year Metro Pacific Investments Corporation (MPIC), an infrastructure conglomerate run by businessman Manuel V. Pangilinan, decided to sell its controlling stake in ailing Negros Navigation, 2GO's parent company. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. View the profiles of people named Uy Denis. Fiber optics offer greater speed and bandwidth, and now that the new normal is encouraging working from home, the demand for faster internet is greater than ever. "It was too ambitious for me so I had to pass. They are my friends. I can’t wait to see the amazing things you will accomplish next […] The valuation of Converge is justified by the company’s high growth potential, Converge CEO Dennis Anthony Uy told ANC news channel. "When we put up our first [Phoenix Petroleum] gas station in Metro Manila – in Marikina in 2008 – one of our first customers was Negros Navigation, which at that time was still owned by Metro Pacific [Investments Corporation]," Uy said. Uy's grandparents, Ega Uy and Tao Sui Eng were ethnic Chinese who settled in Davao as merchants and had a store which sold fishing equipment and bread while his parents ran a small business which sold copra. According to his own account, Dennis played basketball as a childhood hobby while at the same time sold school supplies and basketball card… And ultimately, it is all fair naman eh," Uy said. Both are in the telecom industry, with Converge being a former telco challenger before backing out of the telco race, making way for Dito Telecommunity, Udenna’s Uy, to take the third telco slot in the country. Uy eventually replaced Sulficio Tagud Jr as president and chief executive officer of 2GO's parent firm. Dennis Uy was born and raised in Davao City to an ethnic Chinese family based in Davao City and is part of the Uys' third generation. Uy then saw the opportunity to buy into 2GO anew when one of its shareholders, KGLI-NM Holdings, was open to selling its stake in the 2GO parent firm. I wasn't able at first to join the board kasi di ba somebody was blocking me. ... Dennis Anthony Uy named 2020 Asia CEO Awards Entrepreneur of the Year The Manila Times. Like the other Dennis who hails from Davao, Dennis Anthony Uy was raised in the province. "I had Sycip Gorres Velayo & Company audit the Metro Pacific assets. He graduated with a degree in Electrical Engineering from Holy Angel University, a private Catholic school, in Angeles, Pampanga. Even as a … From time to time, Uy said he contacts BDO chairperson Sy-Coson – whom he calls achi (eldest sister in Chinese) – for guidance. "We help each other," Uy said. That is how it ended with the management of [Sulficio] Tagud [Jr]. Uy and his family transact their banking requirements at the Davao branch of PCI Bank, which eventually became Equitable PCI Bank after a 2006 merger. So I said, 'let us help each other because this is too big for me,'" Uy said. It was Uy's first indirect link to the Sys. In 2006, the Sys acquired control of Equitable PCI Bank and merged it with their existing BDO Unibank in an aggressive bid to control the country's biggest bank. (READ: Ex-2GO chief decries attack over accounting scandal). Ultimately, it is all fair.)". Mr. Dennis Anthony H. Uy co-founded Converge ICT Solutions with Ms. Maria Grace Y. Uy in 2007 and currently serves as the CEO and Executive Director of the company. Aged 52, co-founded Converge with Mr. Dennis Anthony H. Uy in 2007 and currently serves as our President, Chief Resources Officer and Executive Director. No, we’re not talking about Davao-born neophyte tycoon Dennis Uy, a common mistake for those unfamiliar with the two Dennis’s. Together with the Sys because I was being blocked. The branch manager was introduced to me by my parents since they were already comfortable doing busines in that branch," narrated Uy. After the dust settled in the BDO and Equitable PCI Bank merger, Jesus Jacinto, the vice chairman of BDO Unibank Incorporated, paid Uy a visit in Davao. Shop your essentials from Shopee Mart, free delivery with minimum spend, Get up to 90% OFF deals, coupons and vouchers, Shop top-rated healthy products with discount shipping and customer rewards. Uy eventually set out on his own. The Uys' relatives have stakes in mining, supermarket, car dealerships, and other businesses, mostly in Davao. I was entitled to board but I cannot. Dennis Uy (R), chairman and executive officer, and Domingo Uy (L), chairman of the board of Philippines' Phoenix petroleum company, ring the bell at the Philippine Stock Exchange in the financial district of Makati, suburban Manila on July 11, 2017, on the company's tenth anniversary of its listing. Tagud was keen to keep control of 2GO. by JOANNE RAE RAMIREZ I recently marked a milestone even if it was somebody else’s birthday — the exquisite Che Uy’s! He currently works closely with Ricky DyBuncio, president of SMIC and director of 2GO. J&J, NCMH, and PPA Advocate for Access to Mental Health Services during COVID-19. The probability of having two people, CEOs no less, in the same industry with the same name is slim. SKY CABLE FOR SALE – The Lopez family will reportedly put Sky Cable up for bidding in the next weeks or days. Che’s party was a milestone for me as it was the first social event I attended under the “new normal.” I was their client at Equitable PCI Bank so they knew how my businesses were doing back then. As an adult, Uy ventured into broadband and fiber optics, starting ComClark Network and Technology Corp. in 1996 in his backyard—Pampanga. You made it through the year! Converge ICT’s ambition is to provide super-fast reliable connections while overcoming the disparities in fiber rollouts that have excluded the benefits of the internet from some of our nation’s communities,” said Dennis Anthony Uy, founder and CEO of Converge ICT. AFP chief Gapay says attack in Datu Piang 'far' from Marawi siege . It later evolved into Converge, the fiber optics provider that steadily expanded until its success skyrocketed in 2019 when one of the world’s biggest private equity firms, Warburg Pincus, took an interest in the local cable operator and invested $250 million in the little telco that could. Converge CEO Dennis Anthony Uy in an interview said that it was related to a “power issue.” The loss of the internet connection prompted the broadband service to land on the top trending list of local Twitter as Filipinos shared how the outage has connected them, especially those who are actively studying and working from home. That vote of confidence was memorable to Uy, who said that most big banks had snubbed him in the past since he was perceived as an unknown small player from the province. They saw the potential and they supported me. Lifestyle 1 day ago. I wasn't able to join the board at first because somebody was blocking me. "Jacinto visited me in 2006 – among all his clients – then I presented to him my Phoenix business plan on going public. 'Family Tree' of The Milky Way Reveals The Fate of The Mysterious Kraken Galaxy. By 2025, Converge would offer services to 80 million of the country’s 107 million population, he said. He added that Metro Pacific was selling its Negros Navigation assets for P2 billion, but Uy's credit lines that time reached only P200 million. Tagud, however, failed to secure some of BDO's terms, causing the deadline for the option of his first refusal to lapse. I was entitled to board but I cannot. Tag Archives: Dennis Uy. The link between the two business groups had its roots in a bank branch in Davao, Uy's hometown. Business 2 days ago. Dennis Uy eyes takeover of Malampaya gas-to-power facility Published 2020-09-28 18:49:03 . The Sys allied themselves with Uy, who was working to wrest control of the logistics firm from its previous owners in late 2016. "That time, Equitable PCI was our main banker. View the profiles of people named Uy Dennis. The governor was present at the launch of the book “Our Dennis Anthony H. Uy, Angeles City’s Own Mogul.” In his speech, Uy, not to be confused with Davao-based Dennis Uy of Udenna Group, spoke about his dream of creating a “digital transformation highway” in the whole Luzon island. The service may not be perfect but Angeleños are fortunate to have a Dennis Uy who always has the grit to improve and excel on his ventures and services. In May 2016, Tagud's firm signed a term sheet with BDO for a $120-million loan to finance the share buy back. 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He started to look for acquisition deals. --oo0oo-- Jose “Kuya Jay” Pelayo IV is the president of Metro Angeles City Journalists Association, Inc. and the … "During the time, I had really nothing and it was them (the Sys) who gave me a [credit] line. Together with them (Sys). Philippine tycoon Dennis Uy has built an empire spanning oil, shipping, casinos and telecommunications, but eight years ago his oil-trading business was … The millionaire is on his way to be a billionaire now that Converge has filed its $726 million initial public offering, which could become the largest IPO in the local stock exchange’s history. THANKFUL. According to Manila Bulletin, in college, he started his first business at Holy Angel University, selling Betamax VHS tapes. Oddly enough, the two also share the same middle initial: Dennis Anthony Uy vs. Dennis Ang Uy. If he needed a credit line for his petroleum business, however, Uy still needed to put up collateral. I only assumed [the position] when natapos na lahat. "Una naman ako. ... Anthony Davis, Lakers agree on five-year, $190-M deal. After building his business, Uy sought to give back to his hometown, partnering with Angeles City to provide 90,000 students free internet connection at a time when education has turned to online classes. When the financials and operations of Uy's oil and shipping business eventually stabilized, Uy said he was ready to expand his empire. Here’s everything we know about Dennis Anthony Uy, the other Dennis Uy making waves in the business scene. 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