THE listed companies led by Dennis A. Uy refuted reports circulating in social media that the Davao City businessman allegedly had a stake in a company with ties to Smartmatic, the group behind the electronic voting system used in the May 13 midterm elections.

Phoenix Petroleum Philippines, Inc. and Chelsea Logistics Holdings Corp. separately issued statements denying Mr. Uy’s supposed purchase of a local information technology company called TIM, which is said to be Smartmatic’s partner.

Adel A. Tamano, the spokesman for the businessman’s Udenna Corp., issued the statement “to directly refute claims in various social media fora that Mr. Uy had purchased TIM in order to affect the outcome of the 2019 National Elections.”

Mr. Uy is the president and chief executive officer of Phoenix Petroleum and the chairman of Chelsea Logistics. He was one of the top contributors to President Rodrigo R. Duterte’s successful campaign in 2016.

“There is absolutely no truth to the allegations,” Mr. Tamano said. “We take these allegations very seriously. In fact, we have instructed our security and legal teams to investigate this matter, specifically on who are the persons making these ridiculous claims. We are considering filing civil and/or criminal cases, if necessary, to protect the reputation of [Mr. Uy and Udenna].”

On Thursday, shares in Phoenix Petroleum slipped by 0.50% to P11.94 each, while those of Chelsea Logistics rose by 4.08% to close at P6.38 each. — Victor V. Saulon