Top Line will acquire a Gasoline Station from Phoenix Petroleum Philippines

Light Fuels Corporation (LFC or the Buyer), a subsidiary of Top Line Business Development Corp. (TOP), will enter into an Asset Purchase Agreement with Phoenix Petroleum Philippines, Inc. (the “Seller”) for the acquisition of: (a) gasoline station located at Brgy. Tayud, Municipality of Consolacion, Cebu, Philippines; (b) fixtures; (c) machinery and equipment; and (d) leasehold rights. The total consideration for the acquisition amounts to Eight Million Five Hundred Thousand Pesos (P8,500,000.00) inclusive of Value-Added Tax (VAT).

TOP’s expansion momentum continues, with its latest acquisition building on the recent addition of thirty-eight (38) gasoline stations—aligned with its strategy of market expansion and increased visibility in the retail fuel sector.

The acquisition is expected to support, improve, and positively impact the following areas:

1. Broadened Market Presence – The acquisition will further expand TOP’s footprint in strategic locations, enabling wider customer reach, higher fuel volumes, and deeper market penetration;
2. Improved Brand Visibility – The increased presence of TOP’s stations is expected to boost brand recognition, reinforce its reputation for reliability and dependability, and enhance overall competitiveness in the retail fuel market;
3. Positive Financial Contribution – TOP is expected to achieve stronger operating performance and an enhanced revenue base, with no material adverse effect on its existing financial standing.