Ever since his super political capital slipped into semi-political oblivion and comfortably nestled back to his hometown, Dennis Ang Uy not to be mistaken with Dennis Anthony Uy of Converge Information and Communications Technology Solutions, Inc., has constantly hugged the limelight of the business corridor with some of its assets, acquired in recent years, up in the selling block.
Just as an aside, come to think of it, if we used by the usual practice in the corporate world of calling stewards of the industry by their name initials, both Dennis’s have the same initials: DAU.
Almost, always, it is human natural behavior to expect a diminishing number of supporters, especially when one is facing certain difficulties.
DAU of Davao, who in 2020 was listed as the country’s 22nd richest by Forbes with a net worth of around $650 million, may have felt this natural occurrence as some of his business ventures went awry.
Amidst some pressures, DAU of Davao continues to prevail. Talks going around the business corridor revolved around the deep pocket of the Singaporean venture-capital firm that recently invested P1.6 billion into DITO CME Holdings Corp.
While DITO’s book value per share as of the second quarter of the year is at negative P2.21, my estimate is that the Singaporean knight in shining armour purchased the 10 percent equity in the firm at the same par value per share issue price of P1.00. If this is not standing by DAU then what?
And here’s the thing: The venture capital firm, which now owns 10 percent equity in DITO, is just ready to shell-out additional funding to strengthen the foothold of the firm as the country’s third internet player.
This could be behind that cherubic smile DAU wears. And he continues to have that political capital base on the list of who’s who that attended his 50th birthday celebration on September 28 at the posh 1.7 hectare Enderun campus in McKinley Hill, BGC.
DAU’s foremost co-Mindanaoans headed by no less than Senate President Miguel Zubiri and Senator Bong Go, former Executive Secretary Salvador “Bingbong” Medialdea, former Transportation Secretary Arthur Tugade.
Also seen by my social butterfly source enjoying the food prepared by Enderun chefs were party animal couple Cayenne and Wick Veloso of Government Service Insurance System, Robin Padilla, and the couple Presidential Adviser for creative communications “on leave” Paul Soriano and Toni Gonzaga. There was an unanswered question: the reason behind Paul's leave of absence even before the State of the Nation Address.
On the business corridor side, present at the birthday bash were JG Summit Holdings President and Chief Executive Officer Lance Gokongwei, Peter Coyuito of Prudential Guarantee & Assurance, and Monetary Board member Anita Linda Aquino accompanied by her brother-stock broker Jojo Aquino.
From what I heard, DAU held a small gathering on the day of his birthday, the 26th, at the newly opened Discovery Shores in Samal Island with his family and kamag-anak incorporated. The only political persons present, according to my social butterfly source, were Samal Mayor Al David Uy and the former ES Bingbong, who has been DAU’s family lawyer way back when.
And just another aside, the birthday boy may carry the same surname like Converge owner, the Pampanga-based DAU and the Samal mayor, but they are not altogether related.
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