CEBU, Philippines — Light Fuels Corporation (LFC), a subsidiary of Cebu-based Top Line Business Development Corporation (Top Line), has announced plans to open at least 10 gasoline stations throughout Metro Cebu by the end of 2024.
Top Line chairman, president, and chief executive officer (CEO) Erik Lim made this announcement during the formal inauguration of its three new fuel service stations located on North Reclamation Road, Ouano Avenue Jagobiao, Cebu North Road, and A.C. Cortes Avenue, Mandaue City.
"This is a milestone for Top Line. For the last 11 years, we have been focused on real estate and industrial fuel distribution, and as we expand into the retail fuel sector, we are encouraged and see huge potential in the industry because of Cebu's robust economy," said Lim.
Top Line, which is now on its way to be publicly traded on the Philippine Stock Exchange (PSE) has been engaged in fuel distribution and has been operating a leased fuel depot to support market demand as well as expanded into retail service stations.
"Our focus is on vertical integration. Since we have been in the industrial fuel industry, we backward integrated to include depot operations to support our growth and also forward integrated by opening up service stations under the Light Fuels brand, our retail arm. Soon, we will be opening Light Fuels Express Stations around Metro Cebu, which will focus on two-wheeled and light-wheeled vehicles, which is very exciting for Cebu." Lim noted.
According to Lim, Cebu with its growing economy provides huge potential for the downstream oil category pushing the company to invest at least P210 million for fuel distribution business.
Two additional Light Fuels service stations are also expected to open in October 2024 located in Liloan, Cebu, and Looc, Lapu Lapu City, bringing the total number of operating fuel stations to five (5) in Metro Cebu.
By the end of 2024, Top Line aims to have 10 Light Fuels stations, among which, two are Light Fuels Express stations, which are designed to serve two-wheeled vehicles or motorcycles.
Other areas identified to be the location of new Light Fuels service stations include; MEPZ gate 4, Yati, Liloan, Casili, Consolacion, Talamban, Tulay Minglanilla and San Fernando, Cebu.
Recognizing that 68 percent of vehicles in Region VII are motorcycles based on LTO-VII’s records, Light Fuels Express stations are designed to cater primarily to motorcycles, scooters, and all two-wheeled and light vehicles.
With an 8.94 percent year-on-year increase in the number of registered new and renewed vehicles in Central Visayas based on the latest data from the Land and Transportation Office, Topline aims to seize the growing demand to be top-of-the-line in the retail fuel market with its state-of-the-art fuel stations.
Top Line Business Development Corp. is a Cebu-based company active in commercial fuel trading, depot operations, and retail fuel distribution in the Visayas region. It has two subsidiaries: Top Line Logistics and Development Corp, which is envisioned to engage in the importation, trading, distribution, and marketing of petroleum-based products and Light Fuels Corporation engaged in the fuel retail sector.