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Phoenix Petroleum Philippines Inc. (PPPI) on Tuesday disclosed the value of the 85-percent stake it divested from its Singapore-based trading arm, PNX Petroleum Singapore Pte. Ltd. (PNX SG). At $0.85 apiece, the 22.6 million shares are worth $19.2 million or about P1.089 billion. “This transaction shall raise an immediate $19.2 million in cash for PPPI,

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