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  4. Exclusive-Tycoon close to outgoing Philippines president considering sales of big assets - sources
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Exclusive-Tycoon close to outgoing Philippines president considering sales of big assets - sources

MANILA (Reuters) - A tycoon and close associate of outgoing Philippines President Rodrigo Duterte is considering selling businesses collectively worth several billion dollars,...
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Exclusive-Tycoon close to outgoing Philippines president considering sales of big assets - sources © Reuters. FILE PHOTO: Philippine President Rodrigo Duterte speaks at Villamor Air Base in Pasay, Metro Manila, Philippines, February 28, 2021. REUTERS/Eloisa Lopez//

MANILA (Reuters) - A tycoon and close associate of outgoing Philippines President Rodrigo Duterte is considering selling businesses collectively worth several billion dollars, including a South China Sea gas field and a commercial land lease firm at the site of a former U.S. military base, two sources familiar with the matter said on Thursday.

Dennis Uy, chairman of conglomerates Udenna Corp and listed Chelsea Logistics, has seen rapid growth and diversification of his business empire during the presidency of Duterte, who leaves office next month.

The assets he is considering selling are the Malampaya gas field and Clark Global City, the sources told Reuters, declining to be identified because they were not authorised to speak to media.

They said buyers had been looking at prospects for some of Uy's other businesses, including oil retailer Phoenix Petroleum and his new telecom firm DITO, plus schools and food businesses he operates.

Representatives of Uy did not immediately respond to requests for comment.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

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Moving Avg:

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Sell (12)

Indicators:

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Sell (3)

EUR/USD

1.0658

-0.0008 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Sell (3)

GBP/USD

1.2475

-0.0015 (-0.12%)

Summary

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Moving Avg:

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Sell (12)

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Sell (10)

USD/JPY

157.91

+0.12 (+0.07%)

Summary

↑ Buy

Moving Avg:

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Sell (0)

Indicators:

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

Moving Avg:

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Sell (2)

Indicators:

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

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EUR/CHF

0.9808

+0.0001 (+0.01%)

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Gold Futures

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-7.10 (-0.31%)

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Silver Futures

26.677

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Copper Futures

4.5305

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Euro Stoxx 50

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S&P 500

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FTSE 100

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Hang Seng

17,763.03

+16.12 (+0.09%)

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US Small Cap 2000

1,973.05

-42.98 (-2.13%)

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10,854.40

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175.90

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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