a filipino trend follower's blog: in the news: 2GO/2GO GROUP, INC.

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21 MAY 2019
2GO swings to net loss in first quarter
https://www.bworldonline.com/2go-swings-to-net-loss-in-first-quarter/

15 APR 2019
2GO hopes to swing to profit this year
https://www.bworldonline.com/2go-hopes-to-swing-to-profit-this-year/

13 DEC 2018
2GO-Nenaco merger gets SEC go signal
https://www.bworldonline.com/2go-nenaco-merger-gets-sec-go-signal/

17 MAY 2018
2GO swings to profit in 1st quarter
http://bworldonline.com/2go-swings-to-profit-in-1st-quarter/

06 APR 2018
2GO to merge operations with Nenaco
http://bworldonline.com/2go-to-merge-operations-with-nenaco/

20 FEB 2018
PCC nullifies Uy-led Udenna’s takeover of 2GO shareholder
http://bworldonline.com/pcc-nullifies-uy-led-udennas-takeover-2go-shareholder/

04 JAN 2018
Chelsea boosting 2GO stake to 40%
http://www.philstar.com/business/2018/01/04/1774307/chelsea-boosting-2go-stake-40

02 AUG 2017
SEC seeks clarification from 2GO’s previous management
http://www.bworldonline.com/content.php?section=Corporate&title=sec-seeks-clarification-from-2gos-previous-management&id=149163

15 JUL 2017
Tagud camp airs side on 2GO accounting fiasco
Read more: http://business.inquirer.net/233113/tagud-camp-airs-side-2go-accounting-fiasco#ixzz4mqeNbBPw
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11 JUL 2017
Local KPMG unit defends 2GO audit, seeks more info
Read more: http://business.inquirer.net/232869/local-kpmg-unit-defends-2go-audit-seeks-info#ixzz4mTZyvONP
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10 JUL 2017
2GO restates financial statements, replaces CFO
http://www.bworldonline.com/content.php?section=Corporate&title=2go-restates-financial-statements-replaces-cfo&id=147943

05 JUN 2017
Udenna to hike ownership in 2GO to 35%
http://www.philstar.com/business/2017/06/05/1706681/udenna-hike-ownership-2go-35

17 MAY 2017
Rising fuel prices weigh on 2GO profit
http://www.bworld.com.ph/content.php?section=Corporate&title=rising-fuel-prices-weigh-on-2go-profit&id=145335

18 APR 2017
2GO 2016 net income grows 24% to P1.34B
http://www.manilatimes.net/2go-2016-net-income-grows-24-p1-34b/322770/

17 APR 2017
2GO to grow bigger under new management
http://www.philstar.com/business/2017/04/17/1690920/2go-grow-bigger-under-new-management

13 APR 2017
Biz Buzz: ‘A’ for Amaz…ing
http://m.inquirer.net/business/227711

11 APR 2017
2GO chief leaves as new investors, SMIC settle in
Read more: http://business.inquirer.net/227686/2go-chief-leaves-new-investors-smic-settle#ixzz4dtQv6pvg
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04 APR 2017
SM pays $124.5M for 30% of 2GO
http://business.inquirer.net/227347/sm-pays-124-5m-30-2go-stake

01 APR 2017
SM ventures into logistics with 2GO acquisition
http://news.abs-cbn.com/business/03/31/17/sm-ventures-into-logistics-with-2go-acquisition

08 FEB 2017
Udenna’s Dennis Uy elected to 2GO board of directors
http://www.bworldonline.com/content.php?section=Corporate&title=udenna&8217s-dennis-uy-elected-to-2go-board-of-directors&id=140296

23 JAN 2017

‘Detente’ at 2GO?

Word on the street is that the boardroom dispute that wracked publicly listed 2GO is about to come to an end.

Of course, we’re talking about the dispute between 2GO’s president and CEO Sulficio Tagud Jr. and Phoenix Petroleum CEO Dennis Uy, with the former opposing the entry of the latter in the logistics firm’s board, despite Uy having bought a 21-percent voting interest and a 28-percent beneficial interest in the firm from its foreign shareholders.

Biz Buzz recently spoke to a board member of 2GO who said that mediation efforts between both parties seems to be paying off.

In particular, the company director said that Tagud—an old hand in the shipping and logistics business—was now willing to let Uy sit on the firm’s board, or at least appoint a number of representatives equivalent to his shareholdings in the company.

“Mr. Tagud is a veteran in the industry and he knows his way around,” the director said, explaining what looks like a growing recognition by both sides that they are better off putting the dispute to rest. “He can be a difficult opponent sometimes.”

At the same time, the board member said the company CEO seemed to recognize that Uy’s star was on the rise, given the Davao-based businessman’s strong personal ties with President Duterte.

“Mr. Uy is influential and Mr. Tagud knows that,” he said.

Will both gentlemen become fast friends? Maybe not, but they may end up coexisting, for now. Until the next corporate maneuver unfolds, that is. —DAXIM L. LUCAS