BIZ BUZZ: Dennis Uy stays put in DITO

MANILA, Philippines – DITO CME Holdings Corp. is set to undergo a major ownership structure change as the Summit Telco Group is bound to become the telco operator’s biggest shareholder. Ahead of this, Cherylyn Uy—wife of founder Dennis Uy—already stepped down as treasurer but kept her post as a director.

With the third telco player seeing so many changes and Uy’s stake in DITO set to be diluted, some were skeptical about the founder’s fate in the company. But DITO was quick to quash the rumors.

“There is no imminent exit by Mr. Dennis Uy in DITO CME Holdings Corp.,” the company said in a disclosure on Tuesday.

READ: DigiPlus: Soon to join blue-chip basket PSEi?

The third telco player said that Uy’s Udenna Corp. still holds substantial shareholdings in the listed company.

“If there are transactions involving the exit of Udenna Corp. and/or Mr. Uy in DITO CME, the company will be making the necessary disclosures promptly in accordance with the disclosure rules,” the company said. —Tyrone Jasper C. Piad

Chinabank Capital bags prestigious awards, again

Chinabank Capital has done it again.

The investment house arm of Sy-led China Banking Corp. has once again been named Best Bond Adviser in the Philippines by Hong Kong-based The Asset.

This marks the ninth year in a row that Chinabank Capital bagged the prestigious title, which the company sees as a recognition of its “capital market excellence and the breadth and depth of its bond franchise in the country.”

But it did not stop there.

Chinabank Capital was also recognized at The Asset Triple A Awards for Sustainable Finance 2025 in Hong Kong for its key role in landmark deals in 2024.

And it was a well-deserved recognition. Recall that the company was tapped for seven out of the 12 corporate bond issuances last year, accounting for P114 billion out of the P154 billion raised in 2024. —Ian Nicolas P. Cigaral INQ