Philippine Stock Exchange, Makati City
July 11, 2017
President Rodrigo Roa Duterte visited the Philippine Stock Exchange (PSE) for the first time and graced the 10th listing anniversary of Phoenix Petroleum Philippines, Inc. (PNX) held at Ayala Avenue, Makati City.
It has been a tradition for the PSE to invite companies in their listing anniversaries to celebrate their milestones. PNX is a publicly listed company in the PSE since July 2007, the only oil company to do so after the Oil Deregulation Law was passed in 1998. Since then, PNX has captured more than 6% of the market share and is the number one independent and fastest growing oil company in the country, with more than 500 gasoline stations nationwide.
In his message, President Duterte recalled the humble beginnings of Phoenix Petroleum Philippines, Inc. in Davao City back in 2005 when it established its first gasoline station, and congratulated the company for its continuing success, saying that PNX is an example that emerging businesses can look up to.
He recognized that entrepreneurs are the backbone of the country’s economy and promised that government would continue instituting reforms to rid corruption and provide a better business environment for investors.
After delivering his speech, the President rang the bell of the Philippine Stock Exchange to formally signify his first visit to the PSE.
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