LISTED fuel retailer Top Line Business Development Corp. is targeting about one-third of Cebu’s motorcycle taxi fuel market through a partnership with ride-hailing platform Angkas, because it seeks to expand its retail fuel business and grow each day fuel sales.
In an announcement on Monday, Top Line said it had entered right into a partnership with Angkas to supply exclusive fuel discounts and other advantages to the platform’s partner riders in Cebu.
The partnership gives Light Fuels Corp., Top Line’s retail fuel subsidiary, access to about one-third of Cebu’s motorcycle taxi market, which is subject to a 9,000-rider cap set by the Motorcycle Taxi Technical Working Group across the three accredited operators, the corporate said.
Under the partnership, Angkas partner riders can be enrolled within the Light Rewards Suki Program of Light Fuels.
Riders will receive a P2-per-liter discount on gasoline and a P1-per-liter discount on diesel, in addition to one free motorcycle wash every quarter.
“Fuel is certainly one of the most important recurring expenses for motorcycle taxi riders, and this partnership with Light Fuels gives our Cebu Angkas partner riders access to practical savings and value-added advantages that may directly support their work on the road. Through this collaboration, we’re capable of further strengthen our commitment to riders while continuing to supply protected, reliable, and reasonably priced mobility for commuters in Cebu,” Angkas Head of Operations David Brian Medrana said.
Top Line Chairman, President, and Chief Executive Officer Eugene Erik C. Lim said the partnership has the potential to unlock as much as 42,000 liters of liquid fuel sales per day.
“This partnership has the potential to unlock as much as 42,000 liters of liquid fuel sales per day, while allowing us to support the each day needs of bike taxi riders who’re essential to Cebu’s mobility ecosystem. By giving Angkas partner riders access to fuel savings and value-added services, we’re also strengthening Light Fuels’ position as a preferred fuel partner for high-frequency road users,” he said.
The corporate said the partnership is anticipated to extend customer traffic across its retail network by encouraging Angkas riders to develop into repeat customers under the rewards program.
“That is aligned with our goal of constructing a stronger and more customer-focused retail fuel business. As Cebu’s transport and mobility demand continues to grow, we wish Light Fuels to be present within the each day journeys of riders, drivers, businesses, and communities that keep the local economy moving,” Mr. Lim said.
Top Line, which began as a leasing and real estate company, entered the fuel business in 2017 and has since expanded into fuel trading, depot operations, and retail distribution.
The corporate has been expanding its downstream fuel network as competition within the sector intensifies and demand for more resilient fuel logistics infrastructure increases.
Shares in Top Line Business Development Corp. fell 2.4% to P1.63 apiece on Monday. — Sheldeen Joy Talavera