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Udenna Corporation
Udenna Corporation is a holdings company made by the Udenna Group of Companies which is based in Davao City, Philippines, and founded by businessman Dennis Uy. Primarily involved in the Petroleum industry, petroleum and shipping industry in its initial years, the company later diversified and became involved in other sectors such as real estate and telecommunications. History The Udenna Corporation was incorporated on March 19, 2002. It was founded by Davao City businessman Dennis Uy who decided to establish the company after quitting his family businesses in Mindanao. "Udenna" was derived from Uy's full name, Dennis Ang Uy. Phoenix Petroleum was organized as the first unit of Udenna. It was first involved in managing oil terminals as the Davao Oil Terminal and Services Corporation in the early 2000s but was later renamed Phoenix Petroleum in 2005 and went on retailing petroleum products. Phoenix Petroleum Initial public offering, went public in 2007. To supplement Udenna's petro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Holding Company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies to form a corporate group. In some jurisdictions around the world, holding companies are called parent companies, which, besides holding stock in other companies, can conduct trade and other business activities themselves. Holding companies reduce risk for the shareholders, and can permit the ownership and control of a number of different companies. ''The New York Times'' also refers to the term as ''parent holding company.'' Holding companies are also created to hold assets such as intellectual property or trade secrets, that are protected from the operating company. That creates a smaller risk when it comes to Lawsuit, litigation. In the United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liquefied Petroleum Gas
Liquefied petroleum gas (LPG or LP gas) is a fuel gas which contains a flammable mixture of hydrocarbon gases, specifically propane, propylene, butylene, isobutane and n-butane. LPG is used as a fuel gas in heating appliances, cooking equipment, and vehicles. It is increasingly used as an aerosol propellant and a refrigerant, replacing chlorofluorocarbons in an effort to reduce damage to the ozone layer. When specifically used as a vehicle fuel, it is often referred to as autogas or even just as gas. Varieties of LPG that are bought and sold include mixes that are mostly propane (), mostly butane (), and, most commonly, mixes including both propane and butane. In the northern hemisphere winter, the mixes contain more propane, while in summer, they contain more butane. In the United States, mainly two grades of LPG are sold: commercial propane and HD-5. These specifications are published by the Gas Processors Association (GPA) and the American Society of Testing and Ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South China Sea
The South China Sea is a marginal sea of the Western Pacific Ocean. It is bounded in the north by the shores of South China (hence the name), in the west by the Indochinese Peninsula, in the east by the islands of Taiwan and northwestern Philippines (mainly Luzon, Mindoro and Palawan), and in the south by Borneo, eastern Sumatra and the Bangka Belitung Islands, encompassing an area of around . It communicates with the East China Sea via the Taiwan Strait, the Philippine Sea via the Luzon Strait, the Sulu Sea via the straits around Palawan (e.g. the Mindoro and Balabac Straits), the Strait of Malacca via the Singapore Strait, and the Java Sea via the Karimata and Bangka Straits. The Gulf of Thailand and the Gulf of Tonkin are also part of the South China Sea. The shallow waters south of the Riau Islands are also known as the Natuna Sea. The South China Sea is a region of tremendous economic and geostrategic importance. One-third of the world's maritime shipping passe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BusinessWorld
''BusinessWorld'' is a business newspaper in the Philippines with a nationwide circulation of more than 117,000 (as of March 2014). Founded in 1967 as ''Business Day'', it is Southeast Asia's first daily business newspaper. History ''Business Day'' Raúl Locsin, then a reporter for the business section of the now-defunct '' The Manila Chronicle'', took out a ₱5,000 loan to start ''Business Day'', the paper's forerunner. ''Business Day'' released its debut issue on February 27, 1967. It was the first business daily in Southeast Asia, and it was dedicated to “competent and responsible reporting of the news.” On March 1, 1971, ''Business Day'' published a record of the previous year's highest-grossing Philippine firms. Eight years later, the Securities and Exchange Commission and ''Business Day'' launched ''1000 Top Corporations in the Philippines'' gazette. This effort laid the foundation for what is now known as BusinessWorld Top 1000 Corporations in the Philippines, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Backdoor Listing
A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public company is bought by the private company through an asset swap and share issue. The transaction typically requires reorganization of capitalization of the acquiring company. Process In a reverse takeover, shareholders of the private company purchase control of the public shell company/ SPAC and then merge it with the private company. The publicly traded corporation is called a "shell" since all that exists of the original company is its organizational structure. The private company shareholders receive a substantial majority of the shares of the public company and control of its board of directors. The transaction can be accomplished within weeks. The transaction involves the private and shell company exchanging information on each other, nego ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippine Stock Exchange
The Philippine Stock Exchange, Inc. ( fil, Pamilihang Sapi ng Pilipinas; ) is the national stock exchange of the Philippines. The exchange was created in 1992 from the merger of the Manila Stock Exchange and the Makati Stock Exchange. Including previous forms, the exchange has been in operation since 1927. On a whole, the Philippine Stock Exchange has 275 listed companies. The main index for PSE is the PSE Composite Index (PSEi) composed of thirty (30) listed companies. The selection of companies in the PSEi is based on a specific set of criteria. There are also six additional sector-based indices. The PSE is overseen by a 15-member Board of Directors, chaired by José T. Pardo. History On February 3, 1936, the Securities and Exchange Commission announced that it had "relinquished control of the Manila Stock Exchange." The Philippine Stock Exchange was formed on December 23, 1995, from the merger of the Manila Stock Exchange (MSE) (established on August 12, 1927, based ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Globe Telecom
Globe Telecom, Inc., commonly shortened as Globe, is a major provider of telecommunications services in the Philippines. The company operates the largest mobile network in the Philippines and one of the largest fixed-line and broadband networks. As of March 2022, Globe's total mobile subscriber base reached 87.4 million. It is also the country's largest telecommunications company in terms of market capitalization. The company's principal shareholders are Ayala Corporation and Singtel. It is listed on the Philippine Stock Exchange under the ticker symbol GLO and had a market capitalization of ₱363 billion as of the end of August 2021. Globe offers commercial wireless services through its 2G, 3G, 3.5G HSPA+, 4G LTE, and LTE-A networks, with 5G currently being deployed in key areas in the Philippines. It5G coverageis available in over 2,000 locations all over the country and about 96% of the National Capital Region. In 2016, Globe introduced its ''Globe Lifestyle'' bran ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PLDT
PLDT, Inc., formerly known as the Philippine Long Distance Telephone Company ( fil, Kompanya ng Teleponong Pangmalayuan ng Pilipinas), is a Philippine telecommunications, internet and digital service holdings company. It is one of the country's major telecommunications providers, along with Globe Telecom and startup Dito Telecommunity. Founded in 1928, it is the oldest and largest telecommunications company in the Philippines, in terms of assets and revenues. The company's core businesses are fixed-line telecommunications, mobile telephony services, broadband, and internet of things services under various brands. It also has investments in broadcasting, print media, utilities, and direct-to-home satellite services, among others. As of 2019, PLDT is listed in the Philippine Stock Exchange and New York Stock Exchange (the only Philippine company to be listed in NYSE) and is being controlled by First Pacific, a Hong Kong-based investment management company; Nippon Telegraph and Tel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Telecommunications Provider
A telephone company, also known as a telco, telephone service provider, or telecommunications operator, is a kind of communications service provider (CSP), more precisely a telecommunications service provider (TSP), that provides telecommunications services such as telephony and data communications access. Many telephone companies were at one time government agencies or privately owned but state-regulated monopolies. The government agencies are often referred to, primarily in Europe, as PTTs (postal, telegraph and telephone services). Telephone companies are common carriers, and in the United States are also called local exchange carriers. With the advent of mobile telephony, telephone companies now include wireless carriers, or mobile network operators. Most telephone companies now also function as internet service providers (ISPs), and the distinction between a telephone company and an ISP may disappear completely over time, as the current trend for supplier convergence in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2018 Philippine Third Telecommunications Provider Bidding
A bidding was held in November 2018 to determine the prospective third major telecommunications service provider in the Philippines which is meant by the Philippine government to compete with the existing duopoly of PLDT, Inc.–Smart Communications and Globe Telecom. The winning firm or consortium was granted a certificate of public convenience and necessity and six radio frequency bands by the Philippine government which would help establish a third major player in the Philippine telecommunications industry. The Mislatel consortium led by Udenna Corporation and China Telecom was named the provisional winner of the bid on November 7, 2018. Background The Philippines' telecommunication industry is dominated by the duopoly of PLDT, Inc.–Smart Communications and Globe Telecom. The situation has been cited by critics of the duopoly as the reason for the country's poor internet infrastructure and the country has consistently ranked at the bottom-tier among countries in terms of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China Telecom
China Telecom Corp., Ltd. is a Chinese telecommunications company. It is one of the red chip listed companies of state-owned China Telecommunications Corporation. Its H shares have been traded on the Stock Exchange of Hong Kong since 15 November 2002. It is a constituent of the Hang Seng China Enterprises Index, the index for the H shares of state-controlled listed companies. The company was also listed on the New York Stock Exchange until January 2021. China Telecom is the second-largest wireless carrier in China, with 362.49 million subscribers as of June 2021. China Telecom was a brand of China Telecommunications Corporation, but after the market liberalization of China, the state-owned enterprise spun off the brand and operated it as a separate company, floating it on the Hong Kong Stock Exchange. History China Telecom Corp., Ltd. was incorporated on 10 September 2002 as a limited company in order to float some of the assets of the group on the stock exchange, specifically ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dito Telecommunity
Dito Telecommunity Corporation (stylized as DITO), formerly known as Mindanao Islamic Telephone Company, Inc. or Mislatel is a telecommunications company in the Philippines which is also engaged in the business of multimedia and information technology. It is a consortium of Davao businessman Dennis Uy's Udenna Corporation (through its subsidiary Dito CME Holdings Corporation), and Chinese state-owned China Telecommunications Corporation, a parent company of China Telecom. The consortium is known as the sole winner of 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. Dito CME Holdings Corporation (a publicly listed firm also owned by Uy), meanwhile, has an "indirect ownership" in the telco. Dito Telecommunity began its commercial operations on March 8, 2021. As of August 2022, Dito's total mobile subscriber base reached 12 million. Dito ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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