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Manila Bulletin devider Business devider The Stock Market devider Top Line invests ₱385 million for expansion of fuel importation, distribution facilities

Top Line invests ₱385 million for expansion of fuel importation, distribution facilities

Published Oct 8, 2025 11:38 am
Top Line Business Development Corp. is investing ₱385.12 million for its fuel importation and distribution businesses as it continues to expand its operations in the Visayas.
In a disclosure to the Philippine Stock Exchange (PSE), the firm said its board of directors has approved the additional investment of ₱185.63 million in its subsidiary, Topline Logistics and Development Corp., through the subscription of 1.86 million common shares, maintaining its 75-percent ownership.
“The increase in capital stock... is intended to support the scale of operations expected from its import activities, in line with the issuance of its certificate of registration from the Bureau of Customs (BOC),” Top Line said.
The firm’s board also approved the additional investment of ₱199.5 million in Light Fuels Corp., equivalent to a subscription of 1.99 million common shares, maintaining its 99.75-percent ownership.
The increase in authorized capital stock of Light Fuels is to strengthen its financial position in support of its retail network expansion program.
Meanwhile, Top Line is also reclassifying 800 million of its common shares, with a par value of ₱0.10 a piece, into the same number of preferred shares, also with a par value of ₱0.10 apiece.
The reclassification, subject to the approval of the company’s shareholders and the Securities and Exchange Commission (SEC), is intended to provide Top Line with flexibility in the issuance of shares.
“The terms and conditions of the issuance of the preferred shares have yet to be finalized. The company shall inform the investing public of such terms and conditions as soon as discussed and approved by the board of directors of the company,” Top Line noted.
Top Line expects to post record earnings and revenues this year after its expansion plan leapfrogged from the target 30 service stations by 2026 to 51 outlets by the end of this year.
“We’re looking, we’re hoping; it can be a banner year because of the 50 stations. From three stations last year, it’s now 50 stations this year,” said Top Line Chairman, President, and Chief Executive Officer (CEO) Eugene Erik C. Lapasaran Lim.
He noted that, “it’s really a banner year, even in terms of revenue growth or top-line growth or income... because of the acquisition.”
Lim expressed optimism that Top Line will post a high double-digit growth rate in revenues as a result of retail presence expansion, adding that revenue growth from these stations will be seen in the second-half financial performance.
Top Line Senior Vice President and Chief Operating Officer (COO) Bridgette Carmel C. Lapasaran Lim said the acquisition accelerated the company’s time frame by six to nine months for bringing one station into operation, as this includes securing permits and construction.
The expansion is expected to grow the company’s fuel retail business in the Visayas area from its current eight-percent market share.

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Top Line Business Development Corporation Erik Lapasaran Lim
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