We use cookies to ensure you get the best experience on Esquiremag.ph. As per the company’s statement to the Philippine Stock Exchange, Uy has resigned ” “to foster an appropriate balance of power, increased accountability, and better capacity for independent decision-making”. Posted by 1 day ago. But opposition lawmakers said the measure is unconstitutional and a ploy for the Duterte administration to sell out the Philippines to foreign powers. Press question mark to learn the rest of the keyboard shortcuts. Metro Manila (CNN Philippines, September 18) — Upgrading internet speeds in the country is a tall order, the founder of Converge … The Inspirational Brand category, like the Fast Enterprise category, are new additions to the awards, and were deemed necessary given the times. YOUNG Davao-based tycoon Dennis Uy, whose wealth has increased exponentially during the administration of President Rodrigo “Digong” Duterte, reportedly owed the Bureau of Customs P130 million in customs taxes and duties during the previous Aquino 3rd administration. Ralf Rivas. – Rappler.com. First, we need to upgrade our infrastructure, whether for mobile or wired internet. Dennis Uy of CONVERGE and Dennis Uy of DITO. I AM not writing about the billionaire Dennis Uy of the south. 78, which aims to allow full foreign ownership of public utilities like telecommunications, only needs a 3rd and final reading to hurdle the lower chamber. (READ: IN CHARTS: Udenna Corp-China Telecom's promises, Manny Pangilinan downplays Dennis Uy's 3rd telco. 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. Among them were none other than the Philippines own Dennis Anthony Uy, founder and CEO of Converge ICT Solutions Inc., and Donn Gamboa, co-founder and CEO of White Cloak Technologies Inc. Dito's commercial operations have been pushed back thrice, with the latest target now March 2021. In a disclosure to the Philippine Stock Exchange, DITO CME announced that during a special meeting, its board of directors accepted Uy’s resignation, effective August 16, 2020. Businessman Dennis Uy is stepping down as president of Dito CME and has named former PLDT executive Ernesto Alberto as his replacement to temper 'balance of … Dennis Uy's Dito Telecom tells critics: We have money. Dennis Anthony Uy. / AFP PHOTO / TED ALJIBE (Photo credit should read TED ALJIBE/AFP via Getty Images) Dennis Anthony H. Uy, founder and chief executive officer (CEO) of Converge Information, Communications, and Technology (Converge ICT) Solutions won the Master Entrepreneur Award by the Asia-Pacific Enterprise Awards 2020 on Friday. Find out more here. ", Dito aims to build at least 1,600 towers to cover 37% of the Philippine population in 2020. DITO has a P/E ratio >400 while its competitors have: PLDT 11 GLOBE 12. When asked whether the company is open to raising funds by giving more equity should foreign ownership restrictions be eased, Tamano and Santiago said the answer depends on market conditions. Going against all odds, the internet provider Converge successfully launched its initial public offering on the Philippine Stock Exchange during this pandemic year and has grown its user base in the last few months. The Msater Entrepreneur Award is given to “outstanding entrepreneurs who have demonstrated exemplary attributes that help them serve as role models for … The P130-million smuggling case stemmed from alleged non-payment or underdeclaration of oil shipments by Phoenix … Dennis Anthony H Uy is CEO/Co-Founder at Converge ICT Solutions Inc. See Dennis Anthony H Uy's compensation, career history, education, & memberships. The company has also given the government a P25-billion bond, which they will lose should they fail to meet requirements. And now backed by US private equity, Pampanga's Dennis Uy is poised to overtake the more famous Dennis Uy of Davao and his China Telecom partner. Entrepreneur of the Year: Robinsons Land Corporation CEO Frederick Go on Calculated Risks and Customer Obsession, Why This Logistics Company COO Focuses on Entrepreneurial Opportunities Outside of Manila. Davao-based businessman Dennis A. Uy is stepping down as the president of listed DITO CME Holdings Corp. in a bid to foster an independent decision-making in the company. Converge ICT is owned by Pampanga-based businessman Dennis Anthony H. Uy while Mislatel’s local partner is diversified company Udenna Corp., owned by Davao-based Dennis A. Uy. Converge's Dennis Uy and White Cloak's Donn Gamboa Honored as 'Master Entrepreneurs' at Enterprise Asia Awards . Converge ICT is owned by Pampanga-based businessman Dennis Anthony H. Uy while Mislatel’s local partner is diversified company Udenna Corp., owned by Davao-based Dennis A. Uy. Dennis Ang Uy (born September 26, 1973) is a Chinese-Filipino businessman and diplomat who is a native of Davao City and is the founder of Udenna Corporation which has stakes in various businesses including Phoenix Petroleum. By continued use, you agree to our privacy policy and accept our use of such cookies. Not to be confused with Dennis Anthony Uy, the CEO of Converge ICT Solutions. "The way we're doing things now, we may be saving some, rather than spending more, because the detailed design shows that we will be spending less to complete. 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. Pampanga Governor Dennis Pineda attended the book launch of homegrown tycoon, Converge ICT Solutions CEO Dennis H. Uy, in Angeles City. Dennis Anthony H. Uy of Pampanga, different from the DAU of Davao, walks into the veranda of The Club Filipino one recent Saturday morning … Ralf Rivas. Dennis Uy (Bloomberg file Photo) Uy went to see the local mayor, a family friend from childhood, for advice. Davao-based businessman Dennis A. Uy is stepping down as the president of listed DITO CME Holdings Corp. in a bid to foster an independent decision-making in the company. Converge ICT Founder and CEO Dennis Anthony H. Uy (middle) at the ceremonial turnover of service vehicles from the LausGroup of Companies. A total of 13 Filipino CEOs and businesses were recognized this year. Claire Quiray. Comments. “During such turbulent times, it can be tempting to forgo social responsibility for a business model that focuses solely on the bottom line,” said Richard Tsang, President at Enterprise Asia. Dennis Uy of DITO same as Dennis Uy of Converge? (IN CHARTS: Udenna Corp-China Telecom's promises). Tamano added that Dito will be funded mostly, if not entirely, by foreign banks, as local ones simply do not have the capacity to fund such a capital-intensive endeavor. © 2019 EsquireMag.ph, All Rights Reserved. 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. Dennis Uy's Dito Telecom tells critics: We have money. We’re talking about Dennis Anthony Uy, a rising star in the telco scene with his barely five-year-old brainchild Converge. "We might be underspending, but...it's a positive metric. YES, There are 2 Dennis Uys. Will Dito be able to spend P150 billion and build all the facilities required to meet its promises in 2020? Close. (READ: Manny Pangilinan downplays Dennis Uy's 3rd telco). Philippine tycoon Dennis Uy has built an empire spanning oil, shipping, casinos and telecommunications, but eight years ago his oil-trading business was in trouble over government allegations of fuel smuggling. Feb 20, 2020 9:50 PM PHT. Two Filipinos were honored as “master entrepreneurs” at the Asia Pacific Enterprise Awards 2020, hosted by Enterprise Asia. Dennis Anthony H. Uy Jesus C. Romero : Products: Cable Television Broadband Services: Owner: ComClark Network and Technology Corporation: Website: www.convergeict.com: Converge ICT Solutions, commonly referred to as Converge (also known as ComClark in Pampanga), is a telecommunication service provider in the Philippines. MANILA, Philippines – Dito Telecommunity rejected speculations that it does not have the cash to roll out services, as Dennis Uy's other companies grow through debt. Uy's grandparents, Ega Uy and Tao Sui Eng were ethnic Chinese who settled in Davao as merchants and had a store which sold fishing equipment and bread while his parents ran a small business which sold copra. The fleet acquisition augments Converge’s continued efforts to meet customer needs in the City of San Fernando, Pampanga and nearby locations. Overpriced Dennis Uy stocks, my advise, don't buy. "The challenge is not really the funding, but the rollout, building of the towers, data centers," Tamano said. 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. In the Inspirational Brand category, six Philippine businesses were awarded: 24/7 Customer Philippines Inc., ACM Landholdings Inc., Insular Health Care Inc., Multisus Technologies, Rizal Commercial Banking Corporation, and UHS Essential Health Philippines. Dennis Uy resigned as president of DITO CME Holdings. Tweet. A total of 13 Filipino CEOs and businesses were recognized this year. Joining Uy and Gamboa in representing the Philippines during the awards were ACM Landholdings Inc., BDO Unibank, and Inspiro, which were all recognized in the Corporate Excellence category. Log In Sign Up. Dito chief technology officer Rodolfo Santiago said they may actually spend less, but still deliver all of their commitments. By Anri Ichimura | Nov 21, 2020 IMAGE Converge, White Cloak Shares Share. They are overpriced. User account menu. In a disclosure to the Philippine Stock Exchange, DITO CME announced that during a special meeting, its board of directors accepted Uy’s resignation, effective August 16, 2020. 0 3 30. 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. Underspending [means] cheaper rates for the consumer," Santiago said. I'm confident that the way things are going, we might be underspending. The mayor was Rodrigo Duterte, the country’s current President. Dennis Anthony H Uy is CEO/Co-Founder at Converge ICT Solutions Inc. See Dennis Anthony H Uy's compensation, career history, education, & memberships. Speaking to CNN Philippines' The Exchange, Converge chief executive officer Dennis Anthony Uy said there are a number of hurdles in the way of faster and more reliable connections. MANILA, Philippines — Davao-based tycoon Dennis Uy is reorganizing his empire to ensure that his capital intensive telco startup, Dito Telecommunity Corp., has easy access to funds. Discussion. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture. Addressing his namesake governor, the Converge boss noted that his cable and fiber internet business originated in Angeles City. Inspiration and impact are just as important as the bottom-line in 2020. Businessman Dennis Uy is stepping down as president of Dito CME and has named former PLDT executive Ernesto Alberto as his replacement to temper 'balance of power' in … Philippine tycoon Dennis Uy has built an empire spanning oil, shipping, casinos and telecommunications, but eight years ago his oil-trading business was … "We have already drawn down $500 million (P25 billion) from Bank of China," Dito chief administrative officer Adel Tamano told reporters on Thursday, February 20. I am referring to our very own, Dennis Uy - the homegrown visionary of Angeles City. The Other Dennis Uy: Who Is Dennis Anthony Uy, CEO of Converge? Dennis Uy, the Chairman and CEO of Udenna Corporation, DITO CME Holdings, and Chelsea Logistics and Infrastructure Holdings Corp., is from Davao while Dennis Uy, Chairman and CEO of Converge ICT Solutions, is from Pampanga. Davao-based businessman Dennis Uy has recently resigned from his position as president of DITO CME Holdings. Been checking the stockmarket and decided to check the P/E ratio of DITO and Phoenix petroleum. House Bill No. It operates fiber optic broadband networks, … “He … The prominent awarding body in the region recognized 61 prominent business leaders and businesses from 14 markets in this year’s ceremony, the first virtual version of its kind. This led to some analysts in the telco industry doubting that the company has the cash to burn. “What we have to realise is that today, having a purpose and building a sustainable, profitable business go hand in hand.”. This means that DITO stocks are traded way beyond the amount of money that they are earning. His resignation will take effect on August 16, 2020. The locals know him as the owner of the first cable provider in Angeles, ACCTN, as well as the owner of local internet provider then called ComClark, now Converge ICT Solutions Incorporated. Converge ICT Solutions founder and CEO Dennis Anthony Uy. A sociologist by heart, a journalist by profession. According to a Twitter post by ABS-CBN journalist Jessica Fenol, the company’s Board of Directors has accepted the resignation of Uy today. If You Own A Pet Shop, This App Can Boost Your Business, These Premium Pastries From Hong Kong Are Now Available in the Philippines, Manila Is Only Southeast Asian City Chosen in Global Smart Cities Alliance, Filipino Startup Recognized in Global Sustainable Development Goals Awards. Early life and education. Meanwhile, leading software company White Cloak is the mastermind coder behind some of the country’s most popular apps like UnionBank Online. Meanwhile, Topserve Service Solutions Inc. and White Cloak Technologies Inc. were recognized in the Fast Enterprise category, which honored businesses with thriving growth. During the bidding for the 3rd major telecommunications player, Dito committed to spend a whopping P257 billion in just 5 years, with the bulk or P150 billion in the 1st year. Feb 20, 2020 9:50 PM PHT. Dito aims to build at least 1,600 towers to cover 37% of the Philippine population in 2020. "A lot of factors play here. They may have the same name but they’re not the same person. 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. Uy's companies Udenna Corporation and Chelsea Logistics own 60% of Dito, while 40% is owned by China Telecommunications Corporation. "It's hard to say because it depends how business will go. Among them were none other than the Philippines own Dennis Anthony Uy, founder and CEO of Converge ICT Solutions Inc., and Donn Gamboa, co-founder and CEO of White Cloak Technologies Inc. If we are doing well, there will be more Filipino investors," Tamano said. Been checking the stockmarket and decided to check the P/E ratio of DITO and Phoenix petroleum DITO has a P/E ratio >40 … Press J to jump to the feed. 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