Listed retail firm MerryMart Consumer Corp. shareholders have overwhelmingly backed DoubleDragon Corp.’s (DD) plan to absorb the retailer, clearing the way for its exit from the stock market less than six years after its initial public offering.
In a message to shareholders dated June 2, Sia said Philippine equities have been hit by an “almost unprecedented” decline in share prices as multiple economic pressures weigh on the market. He noted that even long-established blue-chip companies have not been spared, with visibility for a recovery remaining uncertain in the coming months.
The Philippine Competition Commission has cleared DoubleDragon Corp.’s planned entry into retail, approving its acquisition of a 35 percent stake in affiliate MerryMart Consumer Corp.
Tycoon Edgar “Injap” Sia II’s supermarket group MerryMart Consumer Corp. continues its nationwide expansion with the opening of its 135th branch today at Ayala Cresendo Estate, Tarlac.
Tycoon Edgar “Injap” Sia II’s supermarket and grocery store chain Merry Mart Consumer Corp. grew profits during the first half of 2024 by over 140 percent to P16.1 million as revenues jumped almost 30 percent to P3.81 billion.
Tycoon Edgar “Injap” Sia II’s supermarket group MerryMart Consumer Corp. reported a profit of P408.2 million on revenues of P6.3 billion amid the expansion of its wholesale e-commerce business and improvements in scale and transaction value.