BIZ BUZZ: Can Injap deliver by 2035?
There’s no shortage of bold promises in the stock market. But when share prices are tumbling and investors are nursing losses, few executives are willing to publicly ask shareholders to keep the faith for another nine years.
That’s exactly what happened this week.
In a message addressed to shareholders, MerryMart Consumer Corp. founder Edgar “Injap” Sia II acknowledged the “almost unprecedented” decline in Philippine stock prices, saying even blue-chip companies have not been spared. He added that the “silver lining is not yet clear on the horizons” amid ongoing economic uncertainty.
Against that backdrop, Sia pitched DoubleDragon Corp.’s ongoing tender offer for MerryMart shares—internally dubbed “Project Solidify”—as an opportunity for investors to exchange their holdings and remain part of the broader DoubleDragon ecosystem.
The offer includes a mix of cash and shares, with DoubleDragon stock valued at P9.30 per share for the transaction.
What raised eyebrows, however, was not the tender offer itself alone but the ambitious roadmap attached to it.
Sia said he would consider it an “extraordinary Filipino entrepreneurial success” if the group achieves its 2035 targets, which include surpassing P500 billion in annual revenues, generating over P50 billion in net income, becoming debt-free, paying more than P12 billion in annual dividends and expanding Hotel101 to 100 countries.
For some investors, that vision may sound inspiring. For skeptics, it may seem like a very long wait for validation.
Still, in a market hungry for certainty, Sia is asking shareholders to buy into something rarer: a decadelong promise. Whether investors see conviction or optimism may ultimately determine how many choose to join that journey to 2035.
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