Business

Duterte visits PSE for 10th anniversary of Phoenix listing

July 11, 2017 | 12:40pm

Duterte visits PSE for 10th anniversary of Phoenix listing

Duterte said he witnessed how Phoenix Petroleum grew from just one gasoline station in Davao City. Toto Lozano/PPD, file

MANILA, Philippines — President Rodrigo Duterte on Monday attended the tenth anniversary of the listing of Phoenix Petroleum, a company owned by one of his major campaign contributors.

It was the first time Duterte visited the Philippine Stock Exchange in Makati since assuming office last year.

Dennis Uy, president and CEO of the Davao-based oil firm, contributed P30 million to Duterte’s successful presidential campaign. The Philippine Amusement and Gaming Corp. recently awarded a gaming license to a group led by Uy for the development of a $300-million integrated resort casino in Cebu.

“I congratulate Phoenix Petroleum Philippines Incorporated for its 10th listing anniversary. As mayor of Davao City, I personally witnessed how it grew from a single gasoline station in the city into one of the fastest growing oil companies in the Philippines,” the president said.

“I am also grateful that you continue to share your successes for heading socio and civic programs for the benefit of local communities,” he added.

Duterte then narrated how Phoenix was accused of smuggling during its early days.

“They were already buffeted by so many issues. One was really the alleged smuggling of oil,” th President said.

Duterte said he asked a representative of the company if they were really involved in smuggling. The company representative then claimed that all of their transactions were above board.

Duterte, then the mayor of Davao City, called a Customs official to warn him against harassing small businesses.

“So tinawagan ko ‘yung Customs. Sabi ko na, 'Alam mo, ‘yung mga taga-Davao na maliliit, kakaumpisa lang, huwag ninyong… ‘Pag hindi, mumurahin ko kayo diyan (I called Customs. I said ‘Do not harass small businesses from Davao. Otherwise, I will curse at you),” the president said.

“I’ll go to Manila, I’ll go to your office. I’ll b******* in front of the public. Sinabi ko talaga sa u*** na ‘yun (I really said that to that fool)…’If you want, you file a case. Go ahead. Do not ask for money,’” he added.

The Court of Appeals dismissed the smuggling case against Phoenix in 2014.

Drugs and corruption

Duterte then rehashed his remarks about killing criminals and drug lords who are trying to destroy the Filipino youth.

He also reiterated his commitment to get rid of corruption in government, saying he can fire any of his erring appointees anytime.

“If they fool you or if you are not satisfied, all you have to do is call 888 and you can call anybody here and ask for an appointment and I’d be glad to face you and give you about 50 minutes of coffee time and just tell me the truth. And I will fire. I am not fond of suspending people,” Duterte said.

After delivering his profanity-laden 33-minute speech, Duterte rang the closing bell slowly, similar to the ringing of a church bell.

Duterte arrived an hour late for the ringing of the closing bell, which was supposed to be held at 3:30 p.m.