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Udenna Corporation
Udenna Corporation operates as a holding company. The Company distributes and retails petroleum products and lubricants, engages in shipping and logistics services, operates in property development, education, food, gaming, tourism, infrastructure and telecommunications sectors in Philippines. 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, Uy Dennis Ang. 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 petroleum business, Chelsea Shipping Corporation was established in 2006, markin ... [...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 Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share capital, stock of other companies to create a corporate group. In some jurisdictions around the world, holding companies are called parent companies, which, besides holding Share capital, 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'' uses the term ''parent holding company''. Holding companies can be subsidiaries in a Subsidiary#Tiered subsidiaries, tiered structure. 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippine Amusement And Gaming Corporation
Philippine Amusement and Gaming Corporation (PAGCOR; ) is a government-owned and controlled corporation established in 1977 through the Presidential Decree No. 1869. PAGCOR is the Philippines' largest contributor of revenue to the government after the Bureau of Internal Revenue and the Bureau of Customs (Philippines), Bureau of Customs. PAGCOR is under the Office of the President of the Philippines. History The Corporation was created during the Martial Law under Ferdinand Marcos, Martial Law years by virtue of a Presidential Decree No. 1067-A issued by President Ferdinand Marcos on January 1, 1977, in response to calls for the Philippine Government to put a stop to the growing proliferation of illegal casino operations in various parts of the country then. The first casino by PAGCOR the Manila Bay Casino opened in 1977. It is a floating casino which operated on the ship MS ''Philippine Tourist''. It was gutted by fire in 1979. PAGCOR shifted its focus to land-based casinos ... [...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 a private company purchase control of a 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, negotia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippine Stock Exchange
The Philippine Stock Exchange, Inc. (; ) 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. The PSE's headquarters is located at the Philippine Stock Exchange Tower, located along the One Bonifacio High Street complex in Bonifacio Global City. The Philippine Stock Exchange is currently owned and managed by The Philippine Stock Exchange, Inc., a company that is also listed on the exchange (), which is responsible for managing the entire stock exchange, and currently has a total of 285 listed companies. The main Stock market index, index for the PSE is the PSE Composite Index (PSEi) composed of thirty (30) Public company, listed companies. The selection of companies in the PSEi is based on a specific set of criteria ranging from total Market capitalization, capitalization to minimum number of stockhol ... [...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 one of the largest mobile, fixed-line and broadband networks in the Philippines. As of November 2023, Globe has 54.7 million subscribers, making it the second largest network in terms of subscriber base. The company's principal shareholders are Ayala Corporation and Singtel. It is listed on the Philippine Stock Exchange under the ticker symbol GLO. 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. Its 5G coverage is available in over 3,000 locations all over the country, and nearly 100% of the population in the National Capital Region, Davao City, and Cebu. In 2016, Globe introduced its ''Globe Lifestyle'' brand as a way to connect to its customers through fashion. It also launched two entertainment divisions: An ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PLDT
PLDT, Inc., formerly known as the Philippine Long Distance Telephone Company (), is a Philippine telecommunications, internet and digital service company. PLDT is one of the Philippine'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. It is listed in the Philippine Stock Exchange and New York Stock Exchange and is being controlled by First Pacific, a Hong Kong–based investment management company, Nippon Telegraph and Telephone, through its subsidiaries, and JG Summit Holdings. Throughout the past decades, PLDT has received numerous ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Telecommunications Provider
A telecommunications company is a kind of electronic communications service provider, more precisely a telecommunications service provider (TSP), that provides telecommunications services such as telephony and data communications access. Many traditional solely telephone companies now function as internet service providers (ISPs), and the distinction between a telephone company and ISP has tended to disappear completely over time, as the current trend for supplier convergence in the industry develops. Additionally, with advances in technology development, other traditional separate industries such as cable television, Voice-over IP (VoIP), and satellite providers offer similar competing features as the telephone companies to both residential and businesses leading to further evolution of corporate identity have taken shape. Due to the nature of capital expenditure involved in the past, most telecommunications companies were government owned agencies or privately-owned monopol ... [...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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China Telecom
China Telecom Corporation Limited (CT) is a Chinese telecommunications company. It is one of the publicly traded red chip companies of the state-owned China Telecommunications Corporation. The company's 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 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 the wireline telecommunications businesses in Shanghai, Guangdong, Jiangsu, and Zhejiang, as well as other assets from the parent company. In 2003, China Telecom acquired businesses in Anhui, Fujian, Jiangxi, Guangxi ... [...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 Dito CME Holdings Corporation, DITO CME Holdings Corporation, a subsidiary of the Udenna Corporation which is owned by Davao businessman Dennis Uy, and China Telecommunications Corporation, a state-owned enterprise of the government of China, government of mainland China and a parent company of China Telecom. The consortium is known as the sole winner of the 2018 Philippine third telecommunications provider bidding, 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 Telecommunity began its commercial operations on March 8, 2021. It offers commercial wireless services t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clark Global City
Clark Global City (formerly the Global Gateway Logistics City) is a planned mixed-use central business district development at the Clark Freeport Zone in Mabalacat and Angeles City, Philippines. Udenna Corporation is responsible for the development of Clark Global City since 2017. The development was initially meant as a product of Kuwaiti investment and was known as the Global Gateway Logistics City. The groundbreaking of the development took place in 2008. History As Global Gateway Logistics City Clark Global City was initially known as the Global Gateway Logistics City (GGLC). It was conceptualized by American firm Peregrine Development International Inc. (PDII) to the Kuwaiti investment firm KGL Investment Co. (KGLI Co.) in 2006. KGLI accepted PDII's proposal and signed a memorandum of agreement with the Clark International Airport Corporation regarding the project in April 2008. The groundbreaking ceremony was attended by President Gloria Macapagal Arroyo in August of the s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Clark Freeport Zone
Clark, officially the Clark Freeport and Special Economic Zone (CFEZ), is a free-trade zone, freeport and special economic zone in Central Luzon, Philippines, managed by the Clark Development Corporation (CDC), a government-owned and controlled corporation (GOCC). It covers portions of the cities and municipalities of Angeles City, Angeles, Mabalacat, and Porac in Pampanga, as well as Capas and Bamban in Tarlac. The zone is divided into two areas: the Clark Freeport Zone (CFZ) and the Clark Special Economic Zone (CSEZ). New Clark City is part of the CSEZ, while Clark Global City falls within the CFZ. The CFZ includes the area formerly occupied by Clark Air Base, a former United States Air Force facility. Most of the air base has been converted into Clark International Airport, with some portions still under the control of the Philippine Air Force. Clark serves as a hub for business, industry, aviation, education, and tourism in the Philippines, as well as a center for leisure, f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
