Pacquiao enters petroleum business

PPPI on Monday afternoon opened its 100th service station nationwide with the world's No. 1 pound-for-pound boxer as dealer partner.

Dennis Uy, PPPI president and CEO, said “we expect the company will grow and become stronger and bolder” with Pacquiao around.

“We expect the sales to go higher because of the popularity of Manny Pacquiao,” said Uy in a short press briefing following the inaugural rites attended by PPPI executives and local government officials.

The PPPI big boss and Pacquiao led the cutting of ribbon and joined hands in unveiling the service station's historical marker.

The turnover of the full service station named Phoenix Dapruza came a day after the baptism of the boxing superstar's youngest child, Queen Elizabeth

Following the ceremonial gas up of Pacquiao’s own red Ford Expedition, Uy awarded the Phoenix stock certificate to the boxing hero who bought a total of 550,000 shares with a market value of P4.

In a press release distributed to the reporters, PPPI said the world boxing champion was proud and happy to be a business partner of Phoenix, the first petroleum company listed on the Philippine Stock Exchange since the passage of the Downstream Oil Deregulation Law in 1998.

“I was impressed with Phoenix because in just a short time, they have grown fast. As a Mindanawon, I am proud of the successes of Phoenix which is now expanding nationwide,” the press release quoted Pacquiao as saying.

“I am confident of its future, that’s why I decided to be one of their increasing business partners,” Pacquiao added.

The partnership between Phoenix and Pacquiao started in 2006 when it supported Pacquiao when he fought and won against Mexican Erik Morales in their trilogy.

Uy said Pacquiao is planning to put up five more stations. His Phoenix Dapruza is the 94th service station in Mindanao and third in this city. Six stations are in Luzon – in Marikina, Zambales, Cabanatuan, Canlubang, Cavite, and Pangasinan.

“Soon we will open one in the Visayas, “ said Uy.

PPPI opened its first service station in Digos City, Davao del Sur with businessman Reynaldo Leynes as the dealer partner. (Rico Biliran / MindaNews)