What’s Next for MerryMart? Updated Message from MerryMart Founder Edgar "Injap" Sia II

The retail and investment landscape in the Philippines just witnessed a massive shift. Edgar “Injap” Sia II, the visionary founder of MerryMart Consumer Corp. (MM) and Chairman of DoubleDragon Corp. (DD), recently issued a major updated message to shareholders. 

If you have been keeping an eye on your stock portfolio or following local corporate developments, this update marks a defining moment for the grocery and essential retail chain. MerryMart is transitioning away from the Philippine Stock Exchange (PSE) and integrating fully into the DoubleDragon ecosystem.

Read: What’s Next for MerryMart? A Special Message from MerryMart Founder Edgar "Injap" Sia II

Below is the updated message from the MerryMart Consumer Corp. Founder and Chairman Edgar “Injap” Sia II:

Dear DD and MM Shareholders,

I am pleased that the final tally of the MM shareholders who Tendered their MM shares has totaled to close to 99%. DD's acquisition of MM or Project Solidify as we internally call this transaction, is intended to enable the MM shareholders to stay as DD shareholder with good exchange valuation of Php 9.30 of each DD share. MM being part of the ecosystem of DD, will help us streamline the operations, cost effectiveness and other advantages of being part of the bigger group. These advantages will make the whole DD Group gain more efficient and more optimized business ecosystem. The recalibration should strategically benefit both entities over the long run.

As a Filipino entrepreneur that grew up and started from the province of the Philippines, I, like many probinsyanos take personally and seriously whatever we aim to do, and I take these goals and vision for the DoubleDragon Group seriously. It’s pretty simple, if DD Group will hit those goals 9 years from now by 2035, then I consider that an extraordinary Filipino entrepreneurial success. That simple. Let’s see.

To all the MM shareholders, I am glad that almost 99% of you have decided to tender your MM shares in exchange for half cash and half in DD shares, I welcome you to our exciting journey to 2035 as the DD Group including DD's subsidiaries MerryMart, CityMall, DDMPR, and CentralHub continue to purge its way to strengthen and cover all the 82 provinces in the Philippines and bring its novel and unique Hotel101 business model to 100 countries worldwide.

I am now updating this message here in Fuzhou China for a business trip for Hotel101 and from here in the next few days I will proceed to Capiz for the expansion of CentralHub warehouse complex there, I will be in DD HQ in a few days for the interior finishings design enhancement session of Ascott at DD Meridian Park, will then fly to Boracay for the ocular on Project Bloom that we are soon implementing for the upgrade and future-proofing initiatives of CItyMalls nationwide to soon be implemented one by one to make all the CityMalls nationwide ready for the GenZ market, I will then personally make ocular check on the new layout version of MerryMart Grocery at Nuvali.

I am All-in towards the 2035 set Vision of the whole DoubleDragon Group.

In addition, as many would recall, DD has started its expansion journey when it listed in the Philippine Stock Exchange 12 years ago as a start-up company in 2014 at P2 pesos per share, and as of now trades at 6x or over 600% higher versus its IPO listing price to P12.28 pesos per DD share as of today June 16, 2026.

In the past years of my entrepreneurial journey, I and our team was able to deeply gain and learn multi-dimensional and complex business experiences that we believe is now sufficient to enable us to push forward towards DD's 2035 Vision,

In the next 9 years, DD aims to grow its total revenues 18x or 1,800% from P27.9 Billion Revenues recorded in FY2025 to P500 Billion Total Revenues in 2035.

The journey will surely not be a straight line, but I personally believe that with the entrepreneurial grit, discipline, focus and relentless perseverance of our team and with the support of all the DD Group stakeholders we will remain inspired and energized to navigate our way towards that set Vision.

- Injap Sia

DoubleDragon Group’s 2035 Vision:

• For DD to exceed P500 Billion pesos in global consolidated annual revenues and exceed P50 Billion in net income level by 2035
• DD to have fully nurtured to optimal level its existing hard asset portfolio in Luzon, Visayas and Mindanao and completed its footprint in all 82 provinces in the Philippines by 2035 held directly or thru its subsidiaries
• DD via Hotel101 Global to have planted its footprint in 100 countries worldwide by 2035
• For DD to become a totally Debt-Free company by 2035, and
• For DD to generate annual cash dividends exceeding P12 Billion annually by 2035