Top Line Accelerates Visayas Expansion with 38 Retail Stations, Depot Storage, and Tanker Fleet Acquisition

​Top Line seals its acquisition agreement with Total Oil & Gas Resources, Inc. and Ballston Metro Corporation. From left to right: Atty. Constance Marie Lim, CPA, First Vice President and CFO,; Brigitte Carmel Lim, Senior Vice President and COO; Eugene Erik Lim, President and CEO; Judy Tumangan, President and COO, TOGRI and BMC; and, Atty. Daniel Kendrick Tumagan, TOGRI and BMC.

​Top Line Business Development Corp. (“Top Line” or the “Company”) has acquired 38 retail fuel stations, a two-million-liter depot facility, and 15 fuel tanker trucks from Total Oil & Gas Resources, Inc. (TOGRI) and Ballston Metro Corporation (BMC). The Company is investing approximately P925 million for the acquisition and renovation of the stations, accelerating the rollout of its retail-arm Light Fuels in Visayas. In a disclosure to the Philippine Stock Exchange, the Company has allocated P400 million of its initial public offering (IPO) proceeds for the expansion of its service station network. The Company generated approximately P733 million in proceeds from its IPO on April 8, 2025.

“As part of our flexible strategy for expansion, we explored opportunistic acquisitions of retail fuel stations to fast-track the growth of our Light Fuels brand. This acquisition supports our broader long term growth objectives by enabling faster market entry and operational scalability,” Eugene Erik Lim, Chairman, President, and CEO, said.

While the acquisition includes retail fuel stations in Cebu, it also marks a milestone for the Company as it expands beyond Cebu Province for the first time, with new locations in Leyte, Siquijor, and Negros Oriental. This strategic move further strengthens Top Line’s market penetration across key areas in the Visayas.

The new two-million-liter depot is located in San Jose, Negros Oriental, serving as a distribution hub for retail stations in Negros Oriental and Siquijor, while the additional 15 tanker trucks enhances the Company’s logistics capacity, supplementing its existing fleet of 22 trucks.

“With the new Negros Oriental depot, additional depot space recently secured in our Mandaue terminal, and our expanded tanker fleet, we are well-positioned for rapid expansion. Our systems are in place for prudent inventory management and efficient fuel deliveries to our new stations as we grow our footprint,” Brigitte Carmel Lim, Senior Vice President and Chief Operating Officer, said.
The Company expects the additional stations to contribute at least 36.5 million liters in annual liquid fuel sales volume. Last year, the Company sold 72.45 million liters of liquid fuels.

“With the continued consumption and economic growth in the Visayas, this strategic acquisition strengthens our retail fuel revenue stream while complementing our robust commercial fuel trade revenues,” Mr. Lim added.

Top Line Business Development Corp. is a Cebu-based company active in commercial fuel trading, depot operations, and retail fuel in the Visayas region. It has two subsidiaries: (1) Topline Logistics and Development Corp., envisioned to engage in the importation, trading, distribution, and marketing of petroleum-based products; and (2) Light Fuels Corporation, engaged in the retail fuel sector.