Udenna clarifies reports cited in Postscript

The Udenna Group wishes to address the reports cited by Mr. Federico D. Pascual Jr. in his column “Postscript” published on the Philippine Star on January 21, 2018. 

Referring to our founder and chairman, Mr. Dennis Uy, the column read in part: “Reports are rife that Uy is now poised to enter the Benham Rise, a 13-million-hectare fishing sanctuary said to hold manganese and other heavy metals on top of its rich fishery resources, and possibly oil and gas deposits.”

We would like to clarify that we do not have plans of exploring Benham Rise. 

Udenna is a fast-growing conglomerate with diverse interests in industries with high impact and that are vital to the growth of the economy. At this point, we remain focused on opportunities that will expand our existing businesses and bring in more synergies, including sound partnerships and strategic acquisitions. 

We assure partners, investors and other stakeholders that any investment we will make will be studied carefully and thoroughly to make sure each will add value to our existing businesses. 

We hope this clarifies the reports cited in Mr. Pascual’s column. — Atty. ADEL TAMANO, vice president for corporate affairs, Udenna Corp.