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. by JOANNE RAE RAMIREZ I recently marked a milestone even if it was somebody else’s birthday — the exquisite Che Uy’s! I was entitled to board but I cannot. Even as a … 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? Family; Community. WATCH: Netflix Releases Teaser to ‘The Prom’, Starring Meryl Streep, James Corden, and Nicole Kidman. I can’t wait to see the amazing things you will accomplish next […] 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. Dapat ako lang eh, eh hindi ko kaya ang size. Dennis Anthony Uy. 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. It was 2016 and Rodrigo Duterte, a provincemate from Davao, just won the race to become the 16th president of the country. Analysis of Converge (CNVRG) Stock I wasn't able at first to join the board kasi di ba somebody was blocking me. 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. The probability of having two people, CEOs no less, in the same industry with the same name is slim. When the financials and operations of Uy's oil and shipping business eventually stabilized, Uy said he was ready to expand his empire. [The Tagud-led] management [told Metro Pacific] to just sell it to them and they will pay for it gradually," 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. Julia Clarete, tinanggal sa TV5 series dahil sa talent fee issue? A nominee company of the SM group, Unique Choice Global Limited, then bought the rest of the Negros Navigation shares of Tagud's group. Like us on Facebook to see similar stories. 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. 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. June 30, 2020. The valuation of Converge is justified by the company’s high growth potential, Converge CEO Dennis Anthony Uy told ANC news channel. You made it through the year! Converge prides itself as the "first pure end-to-end fiber internet network in the country." 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. 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. Che’s party was a milestone for me as it was the first social event I attended under the “new normal.” "I had Sycip Gorres Velayo & Company audit the Metro Pacific assets. "As an Angeleño myself, l am committing to fiber-powering the education of the city. 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. Tagud was keen to keep control of 2GO. We’re talking about Dennis Anthony Uy, a rising star in the telco scene with his barely five-year-old brainchild Converge. From time to time, Uy said he contacts BDO chairperson  Sy-Coson – whom he calls achi (eldest sister in Chinese) – for guidance. Tagud questioned and blocked Uy's entry into the 2GO board. The rest is history," Uy said. 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, … 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. "To acquire [2GO], I needed a partner because I don't have the capital for it. As a kid, Uy worked for his uncle as a maintenance boy, fixing and cleaning refrigerators and freezers. 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. According to a report from Bilyonaryo, there were three highly influential and powerful businessmen who want to buy Sky Cable. They don't know anything about shipping and logistics and I don't have capital. "I was the one who went to Tessie (Sy-Coson, BDO Unibank chairperson)," Uy said. Tagud, however, failed to secure some of BDO's terms, causing the deadline for the option of his first refusal to lapse. Dennis Uy is founder of Udenna, a conglomerate with interests spanning petroleum, oil and gas, shipping, logistics, real estate, education and gaming. If he needed a credit line for his petroleum business, however, Uy still needed to put up collateral. "I told them (the Sys), let us help each other run 2GO. Ultimately, it is all fair.)". 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. SKY CABLE FOR SALE – The Lopez family will reportedly put Sky Cable up for bidding in the next weeks or days. 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. He graduated with a degree in Electrical Engineering from Holy Angel University, a private Catholic school, in Angeles, Pampanga. "Jacinto visited me in 2006 – among all his clients – then I presented to him my Phoenix business plan on going public. This is a way of giving back to our community," said Uy. 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. I told them (the Sys), let us help each other run 2GO. In the first 9 months of 2006, Metro Pacific reported P235.4 million in operating losses from Negros Navigation. – Rappler.com. 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 May 2016, Tagud's firm signed a term sheet with BDO for a $120-million loan to finance the share buy back. Metro Pacific had to take it out from their books because it was a drag to them, Uy said. 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 currently works closely with Ricky DyBuncio, president of SMIC and director of 2GO. Uy eventually set out on his own. "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. Philippine tycoon Dennis Uy has built an empire spanning oil, shipping, casinos and telecommunications, but eight years ago his oil-trading business was … It was Uy's first indirect link to the Sys. 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. As an adult, Uy ventured into broadband and fiber optics, starting ComClark Network and Technology Corp. in 1996 in his backyard—Pampanga. Kasi binara ako eh. Join Facebook to connect with Uy Dennis and others you may know. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. "That time, Equitable PCI was our main banker. Converge ICT Founder Dennis Anthony H. Uy Named Entrepreneur of the Year by Asia CEO Awards. The Uys' relatives have stakes in mining, supermarket, car dealerships, and other businesses, mostly in Davao. 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. --oo0oo-- Jose “Kuya Jay” Pelayo IV is the president of Metro Angeles City Journalists Association, Inc. and the … View the profiles of people named Uy Dennis. (READ: Ex-2GO chief decries attack over accounting scandal). 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. "We help each other," Uy said. They are my friends. 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That is how it ended with the management of [Sulficio] Tagud [Jr]. 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. 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. 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? 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. 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 … Like the other Dennis who hails from Davao, Dennis Anthony Uy was raised in the province. I wasn't able to join the board at first because somebody was blocking me. Converge Information and Communications Technology Solutions Inc., a company led by Pampanga businessman Dennis Anthony H. Uy, has reduced the … 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. 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. For now, happy celebrations come in a box! And ultimately, it is all fair naman eh," Uy said. 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. 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. "It was too ambitious for me so I had to pass. The link between the two business groups had its roots in a bank branch in Davao, Uy's hometown. By 2025, Converge would offer services to 80 million of the country’s 107 million population, he said. Join Facebook to connect with Uy Denis and others you may know. ... Dennis Anthony Uy named 2020 Asia CEO Awards Entrepreneur of the Year The Manila Times. Together with them (Sys). 'Family Tree' of The Milky Way Reveals The Fate of The Mysterious Kraken Galaxy. Do You Know the History of the Christmas Tree? Mr. Uy is also the CEO and President of Comclark, the controlling shareholder of Converge, which was founded in Pampanga in … Lifestyle 1 day ago. He was also spinning off the shipping and logistics ventures into Chelsea Logistics Holdings Corporation. These businessmen were nonother than “Dennis Anthony Uy”, “Dennis Uy”, and the Ayala group. 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He started to look for acquisition deals. "During the time, I had really nothing and it was them (the Sys) who gave me a [credit] line. Oddly enough, the two also share the same middle initial: Dennis Anthony Uy vs. Dennis Ang Uy. The year 2006 was busy for Uy. AFP chief Gapay says attack in Datu Piang 'far' from Marawi siege . "(I came in earlier than the Sys. 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. When Dennis Uy was being denied loans by big banks, it was Equitable PCI Bank that trusted the Davao-based entrepreneur. P235.4 million in operating losses from Negros Navigation. So I said, 'let us help each other because this is too big for me,'" Uy said. 10/22/2020. India; Pakistan; ... was founded by Filipino Chinese spouses Dennis Anthony Uy and Maria Grace Uy. 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