Sia tells SMEs: Focus on ‘goals of progress’
SMALL and medium enterprises (SME) must keep their focus on attaining their business goals should they decide to tap the capital markets for greater opportunities.
This was the message of Edgar “Injap” J. Sia II, chairman of three listed companies, at the virtual Road to IPO Forum led by the Philippine Stock Exchange (PSE).
“The key is really on keeping your fundamental goals of progress no matter what,” he said.
He said as long as businesses have their fundamentals and growth plans intact, the rest will follow, even if they first list at the local bourse’s SME board.
Mr. Sia’s DoubleDragon Properties Corp. made its PSE debut at the SME board in 2014 with an equity close to P600 million. The company is now setting its eyes on reaching a P120-billion equity by 2030.
“Today, as of June 30, the total equity now stands at P60.3 billion, which already grew more than 102 times versus seven years ago,” he said.
Mr. Sia also chairs MerryMart Consumer Corp., which was the first to list at the stock exchange last year at the SME board, and the real estate investment trust (REIT) sponsored by DoubleDragon, DDMP REIT, Inc., which was the first REIT listing this year.
“IPO (initial public offering) listing is more for growth, and REIT listing is more for yield and long-term capital preservation and acquisition,” Mr. Sia said.
MerryMart is working on creating a new subsidiary and expanding through building household essential retail branches, a new wholesale channel, and the acquisition of grocery and pharmacy retailers.
On Thursday, shares of MerryMart went up by 1.24% or five centavos to close at P4.07 each.
Meanwhile, DoubleDragon shares went down by 0.2% or two centavos to finish at P10.12 apiece, while DDMPR declined by 1.64% or three centavos to P1.80 each. — Keren Concepcion G. Valmonte
