Cebu fuel retailer Top Line to set up trading house in Singapore

CEBU-BASED fuel retailer Top Line Business Development Corp. is planning to establish a trading house in Singapore to facilitate fuel importation and optimize its supply chain.

In a statement on Wednesday, the company said its board of directors approved the plan to set up a wholly owned subsidiary in Singapore that will operate as a trading house and manage import logistics.

The proposed Singapore-based entity will serve as Top Line’s international trading arm, enabling the company to directly engage with global fuel suppliers and improve its procurement processes.

“By establishing a trading presence in Singapore, we enhance our fuel supply reliability and efficiently structure our costs. Over time, this is expected to contribute to better margins and more efficient fuel sourcing across our network,” Top Line First Vice-President and Chief Financial Officer Constance Marie C. Lim said.

The company’s logistics subsidiary, Topline Logistics and Development Corp., recently secured a certificate of registration from the Bureau of Customs, allowing it to undertake fuel importation activities.

Singapore serves as Asia’s largest oil trading hub, bridging Middle Eastern producers and Southeast Asian demand markets.

According to the company, establishing a presence in Singapore positions it closer to key market participants, trading platforms, and pricing benchmarks.

Last week, Top Line announced it had opened eight new fuel stations in northern Cebu following the completion of renovations on its acquired fuel retail network.

The initiative is part of Top Line’s broader per-cluster renovation and rebranding program, covering stations in Cebu, Leyte, Siquijor, and Negros Oriental.

The company has allocated approximately P925 million for the acquisition and renovation of stations in Cebu and for new locations, accelerating the rollout of its retail arm, Light Fuels, in the Visayas.

Top Line started in leasing and real estate but entered the fuel industry in 2017. It is now active in commercial trading, depot operations, and retail fuel in the Visayas region. Through Light Fuels, the company introduced its first service station in Mandaue City, Cebu, in 2023.

At the local bourse on Wednesday, Top Line shares rose 1.31% to close at P1.55 apiece. — Sheldeen Joy Talavera