Top Line bets on Cebu hub to expand depot capacity

MANILA, Philippines — Top Line Business Development Corp. is betting big on the Visayas market with plans to build a major energy hub in Cebu that could quadruple its fuel storage capacity.

Through subsidiary Topline Logistics and Development Corp., the company signed a sublease agreement with the Lu Do & LuYm Group, which is engaged in storage facility rentals.

The deal marks a crucial step toward developing the complex that will expand Top Line’s depot capacity to 40 million liters from the current 10 million liters, strengthening fuel supply in the Visayas.

“We are entering our next phase of growth, and the Top Line Energy Complex is a cornerstone for our continued expansion,” Top Line chairman, president and CEO Eugene Erik Lim said yesterday.

The energy hub will be developed in stages, with the first phase involving the refurbishment and optimization of the depot facility. Completion is targeted for the fourth quarter.

Once completed, the facility is expected to bolster Top Line’s logistics capabilities and improve supply chain reliability amid evolving consumer needs and rising fuel demand in the region.

Talks are also underway on potential subsequent phases that could further expand storage capacity, contingent on market demand.

Once fully developed, the energy complex will serve as a key logistics and distribution hub for the company’s fuel operations.

“As disclosed, a portion of the proceeds from the company’s follow-on offering may be allocated to depot and logistics expansion initiatives,” Top Line senior vice president and COO Brigitte Carmel Lim told reporters.

Following a P732.6-million public listing in 2025, Top Line is returning to the equity market this year, aiming to raise up to P1.5 billion through the issuance of perpetual preferred shares.

Top Line officials earlier said the company is setting aside up to P1 billion for the fuel storage expansion.

At the same time, the listed fuel retailer intends to complete the rebranding of at least 30 retail stations acquired in 2025, targeting a total of 50 locations by year-end.