Davao-based entrepreneur Dennis Uy is behind the publicly-listed company Chelsea Logistics and Infrastructure Holdings Corporation.
Furthermore, he founded Udenna Corporation. At a business forum held yesterday, Uy shared his perspectives on being a businessman.
He confirmed that it is always a massive risk to engage in new ventures. He cited that his group, indeed, has to face increasing amounts of debt obligations.
Nevertheless, Uy pointed out that they are fortunate because of the creditors. These lenders are eager to back them along the way, he said.
Based on Uy’s speech, he mentioned that there are plenty of conglomerates or massive business groups that possess much larger debts than his firms.
He cited, however, that his group is capable of managing their responsibilities based on debt levels that they are obligated or required to settle.
Meanwhile, the Chelsea Logistics chief has maintained his upbeat perspectives regarding being an entrepreneur.
He relayed that he believes that the future is in the realm of technology. Uy confirmed that he feels that his company’s Dito Telecommunity initiative is quite a challenge.
But he remarked that he feels hungry and motivated to witness their new venture become successful. Uy said that his group still possesses plenty of battles that they need to win.
These challenges are now on a much larger scale, he explained. Also, Uy said that they do not look at the present status of a business.
He affirmed that they pour their investment funds in businesses because of these ventures’ potentials.
Besides, he relayed that they consider a venture’s possibility of transforming into something that delivers much bigger and better benefits for society.
Uy confirmed that they are still looking for new investments and business opportunities at this point, based on the report by Philippine daily newspaper The Philippine Star.
He remarked that they had set their eyes on the sectors that they could possibly invest in, and the new market they could serve.
New telcos player Dito Telecommunity is Uy’s latest business venture. As an investment, his group’s new telecommunications business amounts to P257 billion.
Dito Telecommunity promises to augment the Philippines’ elementary Internet speed to 55 Megabits per second.
Moreover, it aims to cover 84 percent of the population of the country by 2025.
On Tuesday, March 3, 2020, Chelsea Logistics (PSE: C) closed at P3.41 per share. From its previous close, this last trade price of the firm’s stock is up by P0.02 or 0.59 percent.
Furthermore, the total value turnover reached P1,235,340.00. The Philippine Stock Exchange recorded the 52-week high of Chelsea Logistics at P9.36.
Meanwhile, its 52-week low is at P3.25.
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