Very interesting play: With huge vehicle import taxes, and no...

Very interesting play:
With huge vehicle import taxes, and no local vehicle manufaturing industry; Caltex is adding a decade or so to it's fuel supply base with Philippines with the added bonus of high levels of diesel usage (power and ferries b/n 7000+ islands).

However, one needs to look into Telstra's attempt to venture into a partnership in Philippines to see the enormous difficulties in challenging any status quo there. (Telstra blew $300 mil, only to be shafted by local governments bought by the competition, and acting outside federal regulations).

Tough market to crack using legitimate business practices.