Duterte backer, trader Dennis Uy, buys nearly half of Malampaya

Udenna Corp. on Wednesday, Nov. 13, announced that it had bought the 45-percent stake of international petroleum giant Chevron in the Malampaya gas field in waters off Palawan, having sealed the deal late in October.

In a press statement, Udenna, of Davao-based businessman and Duterte supporter Dennis Uy, said the deal involves the purchase by UC Malampaya Philippines Pte Ltd., a wholly owned subsidiary of Udenna, of 100 percent of the shares of Chevron Malampaya LLC, a wholly-owned subsidiary of Chevron Philippines Ltd. Read More

TECHNICAL CHART

KEY TAKEAWAYS

  • Mr. Dennis Uy is in the news recently injected numerous ideas and projects
  • Dennis Uy’s Udenna Corp. acquires Chevron’s 45% Malampaya stake @ READ MORE
  • The Story Behind the Philippines’ Newest Tycoon Dennis Uy @ READ MORE

We believe this company have lots more potential ahead; we decide to take share as “VALUE INVESTING APPROACH”

Article by: Ashok MBA – Financial Coach

 

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