GMA News
Top Line eyes 50 gas stations by end of 2025
Top Line Business Development Corp. aims to operate 50 service stations under its unit Light Fuels Corp. by the end of 2025, an increase from its previous IPO target of 30 stations by 2026.
This expansion includes the acquisition of 38 stations from Total Oil & Gas Resources, Inc. (TOGRI) and Ballston Metro Corp. (BMC) for P180 million, funded by bank loans and internal resources.
The acquisition also incorporates a two-million-liter depot in San Jose, Negros Oriental, and 15 tanker trucks to bolster logistics.
Top Line currently has four operating stations, with an additional eight under development in Metro Cebu and Cebu province.
The expanded network will broaden the company's presence in Cebu, Leyte, Siquijor, and Negros Oriental.
Chairman, President, and CEO Eugene Erik Lim stated that the acquisition is a strategic move focused on disciplined and effective capital utilization.
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Top Line Business Development Corp. aims to increase its market share in the Visayas' fuel sector by expanding its retail fuel presence through acquisitions and increased capacity.
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Topline Business Development Corp. (TOP), through its subsidiary Light Fuels Corp. (99.75% owned), will acquire a Phoenix Petroleum gas station in Cebu, including its fixtures, machinery, equipment, and leasehold rights.
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