Business career
After finishing his tertiary education, Dennis Uy helped ran his family's business and interacted with older businessmen.[5] His family's business was based in Tagum, and was involved in mining, supermarkets, car dealership among other industries. Uy worked with his family for ten years and at one point ran seven firms simultaneously.[6] He decided to start his own business to gain independence as he felt that he did not have the freedom he aspired for himself working for his family.
He started his own business using income he gained from trading stocks while he was still in college and set up Dencio's Kamayan, a barbecue store (which shares the same name but unrelated to a Manila-based restaurant chain). He started his business portfolio independently without the aid of his family members. The barbeque chain grew to at least eight outlets before handing over the business to his sister when he decided to focus on participating in the petroleum industry.[5][6] He also operated two community newspapers which served Davao City but both became defunct.[6]
In 2002, he along his wife[5] founded Udenna Corporation, a holdings company[1] that would later manage his business interests in various industries. Within the same year, Phoenix Petroleum then known as the Oilink Mindanao Distribution Company was established. In 2004, the company was renamed as Davao Oil Terminal Services Corp. (DOTSCO)[7] As part of this business, Uy set up a six million-barrel oil terminal serving businesses in the Davao region.[5] Phoenix Petroleum adopted its name in 2006 and was listed in the Philippine Stock Exchange in 2007 and became the first Davao City-based company to join the stock market.[7]
He founded Chelsea Logistics Holdings Corp. (CLHC) which is involved in the shipping and logistics industry, and a passenger ferry company.[7]
In 2016, Uy's Udenna Corporation had various acquisitions. Udenna secured permission from the Philippine Amusement and Gaming Corporation to develop a casino resort in Mactan, Cebu. It also entered the liquefied petroleum gas (LPG) industry and acquired Enderun Colleges.[1]
In November 2017, Udenna took over the development of the former Global Gateway Logistics City at the Clark Freeport Zone in Pampanga which was later relaunched as Clark Global City.[8] And in 2018, a consortium between Udenna's Mislatel (now called as Dito Telecommunity) and China Telecom won the 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.
In 2018, he bought 70% of ownership of Conti's Bakeshop and Restaurant.
Forbes estimated Uy's 2020 net worth at $650 million, ranking him as the Philippines' 22nd-richest.[9]
Dennis Uy's Udenna Corporation bought 100 million common shares of Atok-Big Wedge Co. Inc., where Uy is a director and vice chairman.[10] Atok-Big Wedge Co, Inc. a listed corporation in PSE, has 20% ownership of United Kingdom-based Forum Energy Ltd. which has the right of oil exploration in SC72 in the South China Sea. Forum Energy Ltd. has an ongoing talks with China for joint oil exploration after President Duterte– a close friend of Dennis Uy– lifted the moratorium on oil exploration.[11]
In September 2024, Uy sold Conti's Bakeshop & Restaurant and Wendy's Philippines, with his Eight8Ate Holdings Inc., to entrepreneur Crystal Jacinto.[12]
In August 2025, it was confirmed that his publicy-listed company PH Resorts, Inc. (PSE: PHR) lost its land and built-up assets in Cebu for the planned "Emerald Bay Casino and Resort" project, to lender Chinabank, and is further mired in billions in debt/capital deficiency.[13]
