Phoenix Petroleum Philippines, Inc.
so... uhh isa ito sa magiging active stocks ngayong lunes dahil sa reaction sa 21% buy in stake ng PNX?
Inde ko na nasubaybayan ang buyback nila ah, na-busy masyado
Phoenix sees 25% jump in sales volume

PHOENIX Petroleum Philippines, Inc. reported a 25% increase in sales volume in 2016 to 1.5 billion liters of fuel, which it described as an “all-time high” for the company.

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Phoenix Petroleum buying Petronas Energy

PHOENIX Petroleum Philippines Inc. is acquiring Petronas Energy Philippines Inc. (Pepi), a subsidiary of Petronas Dagangan Berhad (PDB) engaged in selling and marketing liquefied petroleum gas (LPG) and other petroleum products.

A memorandum of understanding was signed by the oil firm and PDB in relation to the planned 100-percent acquisition of Pepi and its affiliate Duta Inc. The acquisition will be subject to the approval of the Philippine Competition Commission.

The potential acquisition of the LPG business is consistent with Phoenix’s goal of becoming one of the leading oil and gas players in the Philippines.

“We are very excited about this asset not only because it represents a new product that Phoenix can offer, but also because we know it has been operated in line with the operating standard of Petronas, a Fortune 500 company. Pepi’s level of excellence, professionalism and adherence to the highest of global standards is impressive,” said Dennis Uy, president and CEO of Phoenix.

Pepi is engaged in the business of selling LPG in cylinders for household and commercial use, as well as LPG in bulk for industrial use and autogas, an environmentally friendly alternative fuel for vehicles.

With its foray into the LPG space, Phoenix aims to build significant presence in the nonfuel petroleum markets, which currently account for about 1 percent of the company’s business.

Pepi generates most of its sales in the Visayas and Mindanao. This investment plan will allow Phoenix to further grow this business in its home market, where there is room for profitable industry expansion and less competition.

“The company views the LPG business as a strong strategic fit as it broadens its product portfolio and petroleum presence with a particular emphasis in the Visayas and Mindanao,” the company said.

Phoenix Petroleum is the leading independent oil company in the Philippines, engaged in the trading and marketing of refined petroleum products and lubricants, operation of oil depots and storage facilities, hauling and into-plane services.

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...rise of Davao Traders talaga

Dennis Uy buys FamilyMart PH

he Ayala and Tantoco groups have signed a deal to sell the Philippine convenience store chain business under FamilyMart to Phoenix Petroleum Philippines Inc., the petroleum distribution arm of Davao-based businessman Dennis Uy.

Philippine FamilyMart CVS Inc. (PFM) is the official Philippine franchisee of the Family Mart brand of convenience stores in the Philippines, with a current network of 67 company-owned and franchised stores all over the country.

“Philippine FamilyMart has built a reputation for convenience and fresh, quality offerings. We are pleased to have it as a strategic addition to the group as we broaden our products and services and offer greater convenience to our customers,” said Phoenix president and chief executive officer Dennis Uy.

Phoenix is the leading independent and fastest-growing oil company in the Philippines, with a wide network of retail stations and commercial and industrial clients all over the Philippines.

SIAL CVS Retailers Inc. currently owns 60 percent of PFM while Japanese companies FamilyMart Co., Ltd. and ITOCHU Corporation, own 37.6 percent and 2.4 percent respectively.

SIAL CVS is a 50-50 joint venture company between ALI Capital Corp., a 100-percent subsidiary of Ayala Land Inc., and SSI Group Inc.

“We are proud to have introduced FamilyMart to the Philippines. Filipinos have really embraced the convenience store format and FamilyMart is well positioned as one of the top CVS brands in the country,” said Anthony Huang, SSI president and chief executive officer.

Jose Emmanuel H. Jalandoni, Ayala Land senior vice-president, said: “We are delighted that Phoenix Petroleum shares our vision for the continued growth of the FamilyMart brand in the Philippines. We believe that they have a robust platform for taking FamilyMart to the next level and will be excellent stewards of the brand moving forward.”

The sale transaction will be subject to the approval of the Philippine Competition Commission.

UBS AG Hong Kong Branch acted as financial adviser to the sellers in this transaction.

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...expanding Davao Group

Phoenix Petroleum opens Singapore office in push to secure fuel supplies

SINGAPORE — Fuel retailer Phoenix Petroleum Philippines Inc has set up a trading office in Singapore, expanding in the region as it pushes to secure refined fuel to sell in its local market, a senior company executive said.

The Singapore office, which had its “soft opening” in the first week of November, has hired 7 people so far including three traders and will be the sole supplier of refined fuels to Phoenix in the Philippines, said Joseph John Ong, the firm’s chief finance officer.

The company in 2018 will require 2 billion liters, or about 12.6 million barrels, of fuels including liquefied petroleum gas (LPG), up from the 1.7 billion liters this year and 1.5 billion liters in 2016, he said.

Phoenix Petroleum Philippines currently purchases its fuels from oil traders in the region who in turn procure supplies from refiners. The company hopes its Singapore office will be able to cut out such middlemen by buying directly from refiners.

“What we envision is because Phoenix Singapore will be a full trading outfit, it will not only supply to Phoenix Philippines… it will also sell to other parties in the Philippines and also in the region,” said Mr. Ong.

“That will allow it (economies of) scale and allow it to expand and deal directly with refineries.”

There are over 100 independent companies in the Philippines’ deregulated fuel market that Phoenix hopes to target with sales.

Meanwhile, the company is aiming to next year add another 30 to 50 retail stations to the over 500 it has in the Philippines, Mr. Ong said.

The Philippines is one of Asia’s fastest expanding economies with a 6.5% to 7.5% growth target for 2017, which is expected to boost spending and should drive consumption of fuels.

Double-digit growth in automotive sales, as well as more infrastructure projects and airport expansions are also expected to boost appetite for refined fuels.

Phoenix will continue to look out for assets to acquire next year, Mr. Ong said. Earlier in 2017, it acquired the liquefied petroleum gas business of Petronas Dagangan in the Philippines.

“We still need to look for ways to expand our reach and the fastest way to increase market share would be to acquire existing players,” Mr. Ong said. 

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Phoenix Petroleum to expand LPG business in Luzon

PHOENIX Petroleum Philippines, Inc. is targeting to widen its share of the liquefied petroleum gas (LPG) market in the country, as it plans to expand in Luzon.

“There is a lot of opportunities for growth [as] 80% of the market is in Luzon,” Henry Albert R. Fadullon, Phoenix chief operating officer, told reporters on Tuesday night.

Phoenix’s LPG business is currently only in the Visayas and Mindanao, with its nationwide market share at only 6%, he said.

To meet the strong demand in Luzon, Phoenix has placed an order for 650,000 cylinders for LPG, which will be delivered next year.

“[It’s] probably one of the biggest purchases of cylinders placed in the market,” Mr. Fadullon said. “A significant portion of that is going to be for Luzon.”

He declined to disclose the cost per cylinder and the resulting industry ranking of the company in terms of volume sales, but noted the cooking gas will be available in Phoenix service stations to supplement its availability in traditional retail trading outlets.

As of the third quarter, Phoenix has a total 523 service stations, or 18 more than the end-2016’s 505, company officials said. The outlay for the new cylinders will be tucked into next year’s capital expenditure.

“[It’s] planned for next year. You pay progressively. You pay when it gets delivered,” Mr. Fadullon said.

The expansion of the Davao City-based listed company comes as it integrates the LPG business of Petronas Energy Philippines, Inc.

The acquisition of the LPG business, since renamed Phoenix LPG Philippines, Inc., is a strong growth and value driver for Phoenix in its expansion, company officials said. 

Ignacia S. Braga IV, vice-president for finance of Phoenix’s parent Udenna Corp., said Phoenix remains the biggest contributor to the holding firm’s revenues but 2017 ushered in changes in Udenna’s revenue contributions. 

“I’m not even familiar yet with the Petronas volume [because] it’s part of the consolidation,” she said. “So the (third quarter) does not have it yet. It will be a surprise by the end of the year.”

In the third quarter, Phoenix posted a net income of P826.54 million, more than double last year’s P338.62 million, with the newly acquired LPG business boosting profit.

Aside from the acquisition of the LPG business, the company owned by businessman Dennis A. Uy announced in October the acquisition of 100% of Family Mart, the third-largest convenience store brand in the country.

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Phoenix evaluating service stations to host Family Mart stores

PHOENIX Petroleum Philippines, Inc. is evaluating the “viability” of the gasoline stations in which it will put up Family Mart units as it formally expands its business to include convenience stores after anti-trust regulators approved its offer to buy the retail brand’s local franchise.

“With this we can further expand Phoenix Petroleum’s business by entering the convenience store retailing market that will allow us to offer quality products withing the public’s immediate reach,” said Raymond T. Zorrilla, the company’s vice-president for external affairs, when sought to comment on plans for Family Mart.

In its decision dated Jan. 3, 2018, the Philippine Competition Commission (PCC) approved the acquisition by Phoenix Petroleum of shares in Philippine Family Mart CVS, Inc. It said the transaction, which was first disclosed in October 2017, does not result in a substantial lessening of competition in the relevant market.

Phoenix Petroleum, which said it was “elated” by the PCC’s decision, will determine viability of existing gasoline stations “to accommodate Family Mart as part of our non-fuel related business,” Mr. Zorrilla said.

“Determination will be based on available locator spaces, vehicle traffic as well as work/household population within the trading areas,” he said.

He said the deal has yet to close as PCC approval was issued only recently. He added the full announcement of the company’s plans “will be very soon.”

In its approval, PCC said sufficient competitive constraints on the parties remain from other market participants.

Phoenix has said the acquisition of Family Mart complements its retail fuel business. The deal marks its entry into the fast-growing domestic convenience retail market. Family Mart has 67 stores in Luzon.

As of the third quarter of 2017, Phoenix had a total 523 service stations, or 18 more than at end of 2016, company officials said.

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...nakumpleto na acquisition

Dennis Uy’s Phoenix completes FamilyMart acquisition

PHOENIX PETROLEUM Philippines, Inc. has finalized its purchase of FamilyMart convenience stores in the country, allowing Davao-based businessman Dennis A. Uy’s company to take over the retail chain previously owned by the Ayalas and Tantocos.

The listed oil company told the stock exchange on Thursday it has concluded the acquisition of 100% of shares in Philippine FamilyMart CVS, Inc. (PFM).

“A new exclusive area franchise agreement of the Family Mart branch of convenience store in the Philippines was granted to Philippine FamilyMart CVS under management of the company,” Phoenix Petroleum said.

PFM was formed by SIAL CVS Retailers, Inc., a 50-50 partnership between Ayala Land, Inc.’s wholly owned subsidiary ALI Capital Corp. and SSI Group, Inc., as well as Japanese firms FamilyMart Co. Ltd. and Itochu Corp.

SIAL CVS held 60% of PFM, while FamilyMart Co. Ltd. and Itochu owned 37.6% and 2.4%, respectively.

Phoenix Petroleum had entered into a memorandum of agreement with the group last Oct. 30.

The Philippine Competition Commission on Jan. 3 cleared the acquisition to ensure the transaction will not result to a substantial lessening of competition.

“This is positive for the company. This will follow the business model of different gas stations of having a store beside its gas station. With the increasing number of Phoenix Petroleum in the country, this will be added revenue on their part and their income as well,” Diversified Securities, Inc. equity trader Aniceto K. Pangan said in a phone interview yesterday.

With 68 FamilyMart branches in Luzon, Phoenix Petroleum said the convenience stores will be able to complete its fuel retail business, now with 518 gas stations nationwide.

Phoenix Petroleum Chief Operating Officer Henry Albert R. Fadullon, meanwhile, said last year the focus would be to put up FamilyMart stores in central business districts to capture the needs of employees of business process outsourcing firms.

The executive also noted they would like FamilyMart to provide more food options, considering its ready-to-eat meals are part of its appeal in its origin country Japan.

Phoenix Petroleum saw a 14% decline in its attributable profit during the first three quarters of 2017 to P712 million, despite a 47% jump in revenues to P32.6 billion during the same period.

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...Petronas Energy, Family Mart, LPG...ngayon....aspalto? andaming pera naman ng Davao Group Big Grin

Phoenix Petroleum to form JV with Thailand’s Tipco Asphalt

PHOENIX Petroleum Philippines, Inc. is teaming up with a Thailand-based asphalt maker and a local company to distribute bitumen products in the country, as it seeks to take advantage of the government’s aggressive infrastructure program.

In a disclosure to the stock exchange on Tuesday, the company led by Davao-based businessman Dennis A. Uy said its board of directors approved the execution of a joint venture agreement with Tipco Asphalt Public Company, Limited, and Carlito B. Castrillo for PhilAsphalt Development Corp.

The joint venture company will market and distribute bitumen and bitumen-related products in the country. Refined bitumen is primarily used as asphalt cement for road construction.

Describing bitumen as one of the by-products of crude oil refining, Phoenix Petroleum said the deal effectively allows it to expand its portfolio of petroleum products.

“Phoenix’s strategic focus will be on creating growth and opportunities in highly attractive industries and markets that are complementary to its core fuel business and are underpinned by strong macroeconomic fundamentals,” the listed company said.

According to its Web site, Tipco Asphalt “manufactures and distributes asphalt products servicing road construction, maintenance and paving industries, essential for transportation.” It has manufacturing facilities and asphalt terminals in every region in Thailand, and operates a refinery in Kemaman, Malaysia.

After the execution of the joint venture deal, Phoenix Petroleum said the parties will apply for incorporation and registration of the joint venture company within 30 days.

The total authorized capital stock of the joint venture company is estimated at P275 million.

Phoenix Petroleum and Tipco Asphalt will each own 40% of the joint venture, with PhilAsphalt’s Mr. Castrillo will own 20%.

A precedent condition for the completion of the deal is the incorporation of PhilAsphalt in 30 days and the assignment of Mr. Castrillo’s shares to PhilAsphalt.

The new company will also lease a parcel of land from Calaca Industrial and Seaport Park for the construction of a terminal.

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