EXTRAORDINARY OPPORTUNITIES OVER THE NEXT DECADE

The past two years have really been a rollercoaster ride for our economy with the three rounds of enhanced community quarantines (ECQ) we’ve had in the Philippines.

DoubleDragon and MerryMart were not totally immune. Our team focused on finding ways to further strengthen the position of both companies during the pandemic.

Next wave of economic boom

We worked harder, planned more clearly and executed more intensely during the pandemic as we believed firmly with the old saying that even during a crisis, there are opportunities.

An example: during the pandemic was when both DoubleDragon and MerryMart completed the largest series of equity fundraising ever, bringing in a total of P20.2 billion of new equity during the pandemic, which strengthened our balance sheets significantly.

We likewise believe that this crisis will come to an end and would be followed by another round of economic boom. We thus need to make sure that both DoubleDragon and MerryMart will emerge stronger after the pandemic as this is the only way that these companies can benefit and ride

FROM B3-1

the next wave of economic boom. Given our young, resilient populace and other favorable elements, we firmly believe that our economy will soon grow and strengthen significantly over the next 10 to 20 years, to a level we have never experienced before.

First industrial REIT in PH

For 2022, DoubleDragon is excited with its industrial warehouse equity partnership venture with Jollibee Foods Corp. as we aim to conduct the first industrial REIT in the Philippines.

For MerryMart, we aim to continue with the rollout of organic branches; pursue select acquisitions in the pharmacy and grocery space; and continue to deepen the market traction of our online retail and wholesale channels next year.

In general, the year 2022 looks like a year to begin the rebuilding and repositioning of the new economy. We have always reminded our team that during this unprecedented chaos brought about by the pandemic, the companies and their teams who have worked hard to navigate defensively and strategically forward with a stronger balance sheet will be in a very unique position to grow faster and stronger in the next economic boom cycle.

Our team is excited for the extraordinary opportunities that our economy will bring in the next 10 to 20 years. Next year and onwards, we will continue to push for DoubleDragon and MerryMart to be in a position wherein they can bring significant and meaningful contributions to our society, and eventually become among the major pillars of our economy.