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. Here’s everything we know about Dennis Anthony Uy, the other Dennis Uy making waves in the business scene. THANKFUL. Philippine tycoon Dennis Uy has built an empire spanning oil, shipping, casinos and telecommunications, but eight years ago his oil-trading business was … "To acquire [2GO], I needed a partner because I don't have the capital for it. This is a way of giving back to our community," said Uy. Uy eventually replaced Sulficio Tagud Jr as president and chief executive officer of 2GO's parent firm. Prior to that, she served as the Accounting Manager of IBM Philippines from 1990 to 1997 and Vice President for Finance in Savers Mall Group of Companies from 1997 to 2000. "I was the one who went to Tessie (Sy-Coson, BDO Unibank chairperson)," Uy said. Join Facebook to connect with Uy Denis and others you may know. He currently works closely with Ricky DyBuncio, president of SMIC and director of 2GO. Julia Clarete, tinanggal sa TV5 series dahil sa talent fee issue? You made it through the year! View the profiles of people named Uy Denis. I was entitled to board but I cannot. Their partnership was over a decade in the making, culminating in the Sy family's holding firm SM Investments Corporation's announcement in April 2017 of their entry into logistics firm 2GO Group Incorporated. Analysis of Converge (CNVRG) Stock 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. Do You Know the History of the Christmas Tree? Tagud, however, failed to secure some of BDO's terms, causing the deadline for the option of his first refusal to lapse. He was in the proces of buying back the shares of KGLI-NM Holdings in 2GO and had the backing of the Sy's BDO Unibank. When the financials and operations of Uy's oil and shipping business eventually stabilized, Uy said he was ready to expand his empire. He was also spinning off the shipping and logistics ventures into Chelsea Logistics Holdings Corporation. ... 'Pets are part of our family' JUST IN. By 2025, Converge would offer services to 80 million of the country’s 107 million population, he said. I can’t wait to see the amazing things you will accomplish next […] 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. Dapat ako lang eh, eh hindi ko kaya ang size. Eight is considered a lucky number in China, and Converge - the largest and fastest growing high-speed fixed broadband operator in the Philippines - was founded by Filipino Chinese spouses Dennis Anthony Uy and Maria Grace Uy. 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. I should have entered alone but I could not take the size. I was entitled to board but I cannot. 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. The link between the two business groups had its roots in a bank branch in Davao, Uy's hometown. ... Anthony Davis, Lakers agree on five-year, $190-M deal. This alien world could help us find Planet Nine in our own solar system, Jose Mari Chan, Nico Bolzico team up for an unlikely collab, 10 Cute Backpacks Under P1,500 You Can Shop at JanSport's Christmas Sale, A year in Wuhan: AFP's Guardian agency photographer of 2020, What you need to know about Sweden's Covid-19 strategy, No lechon for Noche Buena? 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. 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. [The Tagud-led] management [told Metro Pacific] to just sell it to them and they will pay for it gradually," Uy said. 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. As a testament to continued excellence in business and service, Converge ICT Solutions Founder and CEO Dennis Anthony Uy has been cited with the Master Entrepreneur Award by Asia Pacific Enterprise Awards (APEA) for 2020, distinguishing him as one of the top business leaders in the Asia-Pacific region. I wasn't able to join the board at first because somebody was blocking me. Business 2 days ago. "(I came in earlier than the Sys. "As an Angeleño myself, l am committing to fiber-powering the education of the city. "It was too ambitious for me so I had to pass. I told them (the Sys), let us help each other run 2GO. "Una naman ako. Lenovo offers some great gift ideas that best say, “Congratulations! Dec. 17, 2012: NASA's 2 GRAIL orbiters slam into the moon, US angling to secure more of Pfizer’s coronavirus vaccine, Add NCAA to entities reaching out to PBA about holding bubble tournament, PHL eyes use of 4 vaccines by first quarter of 2021, Assunta, grateful sa pagdating ng 'debutante' nila ni Jules na si Baby Fiore, Big-ticket project list up for revision by year’s end, 20 Cute ~*Friendship*~ Tattoo Designs To Get With Your BFF, Retired medics, armies enlisted for Europe's vaccine push, The 7 Most Common Places COVID-19 Is Spreading Right Now, Aldi Is Selling A Ton Of Everything Bagel Seasonings Including A Jalapeño Flavor. 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. Oddly enough, the two also share the same middle initial: Dennis Anthony Uy vs. Dennis Ang Uy. P235.4 million in operating losses from Negros Navigation. According to his own account, Dennis played basketball as a childhood hobby while at the same time sold school supplies and basketball card… No, we’re not talking about Davao-born neophyte tycoon Dennis Uy, a common mistake for those unfamiliar with the two Dennis’s. According to a report from Bilyonaryo, there were three highly influential and powerful businessmen who want to buy Sky Cable. He’s From Pampanga. In the first 9 months of 2006, Metro Pacific reported P235.4 million in operating losses from Negros Navigation. June 30, 2020. "I told them (the Sys), let us help each other run 2GO. The Uys' relatives have stakes in mining, supermarket, car dealerships, and other businesses, mostly in Davao. SKY CABLE FOR SALE – The Lopez family will reportedly put Sky Cable up for bidding in the next weeks or days. Metro Pacific had to take it out from their books because it was a drag to them, Uy said. (READ: Ex-2GO chief decries attack over accounting scandal). Uy eventually set out on his own. Dennis Anthony Uy of Converge, meanwhile, immigrated with his family from China to Pampanga in the Philippines when he was a kid. There’s another Dennis Uy in town, and his broadband operator Converge ICT Solutions is making the rounds. The Sys allied themselves with Uy, who was working to wrest control of the logistics firm from its previous owners in late 2016. 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. I only assumed the position when the [SM's acquisition] deal was done. Lifestyle 1 day ago. Converge prides itself as the "first pure end-to-end fiber internet network in the country." Dennis belongs to the third generation of the Uy family whose ancestors Ega Uy and wife Tao Sui Eng were migrants from Fujian, China who settled in Davao as merchants. They are very good partners and easy to talk to," Uy told Rappler. View the profiles of people named Uy Dennis. by JOANNE RAE RAMIREZ I recently marked a milestone even if it was somebody else’s birthday — the exquisite Che Uy’s! They saw the potential and they supported me. 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. 10/22/2020. "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. Lopezes put Sky Cable up for sale: Dennis Anthony Uy, Dennis Uy, Ayalas to square off 4 months ago Aside from letting go of thousands of ABS-CBN talent and staff, the Lopezes are putting on the block their cable television subsidiary as the former … The branch manager was introduced to me by my parents since they were already comfortable doing busines in that branch," narrated Uy. He graduated with a degree in Electrical Engineering from Holy Angel University, a private Catholic school, in Angeles, Pampanga. The easiest route was to approach BDO because they know the account and I'm familiar with them. "We help each other," 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. They don't know anything about shipping and logistics and I don't have capital. As an adult, Uy ventured into broadband and fiber optics, starting ComClark Network and Technology Corp. in 1996 in his backyard—Pampanga. WATCH: Netflix Releases Teaser to ‘The Prom’, Starring Meryl Streep, James Corden, and Nicole Kidman. "Jacinto visited me in 2006 – among all his clients – then I presented to him my Phoenix business plan on going public. 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, … Family; Community. – Rappler.com. We’re talking about Dennis Anthony Uy, a rising star in the telco scene with his barely five-year-old brainchild Converge. MANILA, Philippines – How did Dennis Uy, a businessman from Davao and President Rodrigo Duterte's staunch supporter and friend, become a partner of the country's richest family, the Sys? -- Dennis Anthony Uy, Founder and Chief Executive Officer, Converge ICT “This network expansion gives us the confidence that we can deliver on our commitment to foster simple, fast, and reliable connectivity for both existing and potential customers.” --- Dennis Anthony Uy, Founder and Chief Executive Officer, Converge ICT He started to look for acquisition deals. And ultimately, it is all fair naman eh," Uy said. India; Pakistan; ... was founded by Filipino Chinese spouses Dennis Anthony Uy and Maria Grace Uy. The valuation of Converge is justified by the company’s high growth potential, Converge CEO Dennis Anthony Uy told ANC news channel. 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These businessmen were nonother than “Dennis Anthony Uy”, “Dennis Uy”, and the Ayala group. 'Family Tree' of The Milky Way Reveals The Fate of The Mysterious Kraken Galaxy. Together with them (Sys). Converge ICT Founder Dennis Anthony H. Uy Named Entrepreneur of the Year by Asia CEO Awards. As a kid, Uy worked for his uncle as a maintenance boy, fixing and cleaning refrigerators and freezers. Converge Information and Communications Technology Solutions Inc., a company led by Pampanga businessman Dennis Anthony H. Uy, has reduced the … 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. Che’s party was a milestone for me as it was the first social event I attended under the “new normal.” So I said, 'let us help each other because this is too big for me,'" Uy said. A nominee company of the SM group, Unique Choice Global Limited, then bought the rest of the Negros Navigation shares of Tagud's group. 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. 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. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. I only assumed [the position] when natapos na lahat. So I said, 'let us help each other because this is too big for me,'" Uy said. 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. Tagud was keen to keep control of 2GO. AFP chief Gapay says attack in Datu Piang 'far' from Marawi siege . Together with the Sys because I was being blocked. For now, happy celebrations come in a box! I was their client at Equitable PCI Bank so they knew how my businesses were doing back then. From time to time, Uy said he contacts BDO chairperson  Sy-Coson – whom he calls achi (eldest sister in Chinese) – for guidance. The probability of having two people, CEOs no less, in the same industry with the same name is slim. The rest is history," Uy said. 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. Tagud questioned and blocked Uy's entry into the 2GO board. Dennis Uy eyes takeover of Malampaya gas-to-power facility Published 2020-09-28 18:49:03 . Dennis Uy is founder of Udenna, a conglomerate with interests spanning petroleum, oil and gas, shipping, logistics, real estate, education and gaming. "I had Sycip Gorres Velayo & Company audit the Metro Pacific assets. They are my friends. "I could have gone to Lance (Gokongwei) since we are also good friends, but I needed to move fast.". 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. Eight is considered a lucky number in China, and Converge -- the largest and fastest growing high-speed fixed broadband operator in the Philippines -- was founded by Filipino Chinese spouses Dennis Anthony Uy and Maria Grace Uy. When Dennis Uy was being denied loans by big banks, it was Equitable PCI Bank that trusted the Davao-based entrepreneur. 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. 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. Following the sale, the Uy family’s Comclark Network and Technology Corp. will have 63.8% of the company, while Warburg Pincus will have 16.2% if the overallotment option isn’t exercised. 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. Join Facebook to connect with Uy Dennis and others you may know. "That time, Equitable PCI was our main banker. SM Investments Corporation's announcement in April 2017, Udenna Corporation acquired the stake of KGLI-NM Holdings, Ex-2GO chief decries attack over accounting scandal. The Uys have roots in Tagum City and are prominent in the Davao region's local business and political circles. Tag Archives: Dennis Uy. The Sys, whose patriarch is the only Filipino in Forbes' list of top 100 world billionaires, spent $124.5 million for a 34.5% stake in 2GO that they wanted Uy to run. They don't know anything about shipping and logistics and I don't have capital. Even as a … "During the time, I had really nothing and it was them (the Sys) who gave me a [credit] line. 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. According to Manila Bulletin, in college, he started his first business at Holy Angel University, selling Betamax VHS tapes. --oo0oo-- Jose “Kuya Jay” Pelayo IV is the president of Metro Angeles City Journalists Association, Inc. and the … If he needed a credit line for his petroleum business, however, Uy still needed to put up collateral. In May 2016, Tagud's firm signed a term sheet with BDO for a $120-million loan to finance the share buy back. 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. J&J, NCMH, and PPA Advocate for Access to Mental Health Services during COVID-19. Like the other Dennis who hails from Davao, Dennis Anthony Uy was raised in the province. 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. 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. That is how it ended with the management of [Sulficio] Tagud [Jr]. Mr. Uy is also the CEO and President of Comclark, the controlling shareholder of Converge, which was founded in Pampanga in … Dennis Anthony Uy. Ultimately, it is all fair.)". He is the eldest among siblings. The year 2006 was busy for Uy. 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. He gave me a P100-million clean credit line to help my petroleum business," Uy said, stressing that BDO became the first bank to lend to him without asking for collateral. 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. Like the other Dennis who hails from Davao, Dennis Anthony Uy was raised in the province. 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 … We … It was 2016 and Rodrigo Duterte, a provincemate from Davao, just won the race to become the 16th president of the country. Uy was familiar with 2GO since his oil retailing arm, Phoenix Petroleum, was supplying fuel to Negros Navigation since 2006. I wasn't able at first to join the board kasi di ba somebody was blocking me. Contrary to popular belief, the two are not related, with one being Davao born and bred and the other hailing from Pampanga after immigrating from China. ... Dennis Anthony Uy named 2020 Asia CEO Awards Entrepreneur of the Year The Manila Times. It was Uy's first indirect link to the Sys. Kasi binara ako eh. 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. But at the time, [2GO] was still too big for us to swallow," Uy explained. Like us on Facebook to see similar stories. Comclark Network and Technology Corp. in 1996 in his backyard—Pampanga Equitable PCI Bank so knew! 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