Philstar
Top Line accelerates retail fuel expansion in Visayas
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.
The company targets to operate 50 Light Fuels stations by the end of 2025, a significant increase from its previous target.
Topline recently acquired 38 service stations from Total Oil & Gas Resources, Inc. and Ballston Metro Corporation.
This acquisition is part of a larger P925 million investment to fuel its Visayas expansion.
Chairman, President, and CEO Eugene Erik Lim stated that the company is managing an "accelerated growth trajectory" and reinforcing its operational backbone.
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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.
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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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