MerryMart opens largest standalone store

The MerryMart Group of tycoon Edgar “Injap” Sia II  has opened in Tarlac its largest standalone grocery, marking the 135th branch of its supermarket, with expansion in eight more on the line.

In a disclosure to the Philippine Stock Exchange, MerryMart said it opened a supermarket in Ayala Cresendo Estate in Tarlac, sprawled on 4,032 square meters of land to make it the biggest of its kind.

The newest branch also provides the group with its 135th outlet, as it aims to grow its grocery network in the provinces.

MerryMart plans to open supermarkets in Antique; Palo, Leyte; San Carlos City, Negros Occidental; and Bay, Laguna. Further, it aims its reach to cover Koronadal City, General Trias, Cavite; Ormoc City; and Ozamiz City.

Among its current network, MerryMart enjoys the largest market share in Capiz. On top of this, it is gaining consumer traction in nearby areas, positioning it to compete with leading players.

Aside from widening its footprint, MerryMart said it is always on the hunt for companies to buy for as long as they support its future growth.

“MerryMart continues its organic expansion and continues to be on the lookout for opportunities in acquiring companies in the consumer space that have strategic fit to its long-term growth,” the company said.

The newest MerryMart branch, initially slated to be opened in July, is equipped with sustainable equipment like roof solar panels, LED lighting fixtures, bicycle slots and charging provisions for electric vehicles.

MerryMart is undertaking a group-wide expansion to achieve its target of raising P150 billion in revenue in 2030. Originally, the goal was placed at just P120 billion, but the company adjusted it earlier this year.

As of 2023, MerryMart operates 126 stores nationwide. Its portfolio is composed of MerryMart Grocery, MerryMart Express and MerryMart Wholesale, together with other ventures, including Injap Supermart, M Supplies and Carlos SuperDrug.

The company may be reliant on its brick-and-mortar format, but it is also penetrating the digital space through an app launched by MerryMart Wholesale.

For 2024, MerryMart expects its e-commerce channel to grow to 500,000 users and carry 15,000 products for businesses and households.

Source: Philstar

Central Visayas Fastest Growing Region at 7.3 Percent

Metro Manila's economic output expanded by 4.9% in 2023, the slowest pace in two years, due to base effects and weaker output of key sectors, the Philippine Statistics Authority (PSA) said on Thursday.

Preliminary PSA data on the latest regional accounts showed that the National Capital Region’s (NCR) economic growth slowed sharply in 2023 from the 7.2% expansion in 2022.

This was Metro Manila’s weakest economic growth since the 4.4% print in 2021.

NCR growth was also slower than the Philippines’ 5.5% gross domestic product (GDP) print last year.

“NCR’s growth, although slower, was still in positive territory. An easing from the 2022 figure which reflected the economy’s reopening was only expected,” PSA-NCR Regional Director Paciano B. Dizon said during the briefing.

He also said that base effects are at work with the normalization of the post-pandemic boom becoming apparent in the 2023 GDP growth.

At constant 2018 prices, the economy of NCR amounted to P6.57 trillion last year, 5% higher than P6.27 trillion in 2022.

NCR contributed the largest share to the overall Philippine economy last year at 31.2%, followed by Calabarzon (14.7% share) and Central Luzon (11%).

All 17 regions posted growth in 2023, although slower than the prior year. Eight regions posted economic growth faster than the national average.

Central Visayas was the fastest-growing region at 7.3%, easing from 7.6% in 2022. This was followed by Western Visayas at 7.2% (from 9.3%) and Ilocos Region at 7.1% (from 7.6%).

Meanwhile, Soccsksargen recorded the slowest growth among the regions with 3.5% in 2023, from 6.6% in 2022. It was followed by the Bangsamoro Autonomous Region in Muslim Mindanao (4.3% from 6.6%), Bicol Region (4.6% from 8%), and Zamboanga Peninsula (4.6% from 7.5%).

Metro Manila’s economy was primarily driven by services, which accounted for 82.7% of its economy. Services increased by 5.7% last year, slowing from 8.2% in 2022.

Wholesale and retail trade, which accounted for more than a fourth of services, grew by 4.4% in 2023, slower than 7.2% in 2022.

Financial and insurance activities, which made up 24% of services, expanded by 8% last year versus 7.1% in 2022. Professional and business services growth slowed to 5.8% last year from 9.6% in 2022.

Meanwhile, industry, which accounted for 17.3% of the NCR economy, grew by 1.3% last year, slower than the 3.2% in 2022.

Agriculture, which accounted for 0.01% of NCR’s economy, was the only major sector that posted annual growth. Agriculture expanded by 5.4% in 2023 versus 3.5% in 2022.

“Contributing to [NCR’s] slowdown despite the country’s full reopening include inflationary pressures amidst high policy rate,” Security Bank Corp. Chief Economist Robert Dan J. Roces said.

The Monetary Board has hiked borrowing costs by 450 bps from May 2022 to October 2023, bringing the policy rate to a near 17-year high of 6.5% Headline inflation averaged 6% last year.

“The (NCR) growth is slower than what it should be due to the higher interest rates, volatility in the market, and supply chain constraints,” John Paolo R. Rivera, president and chief economist at Oikonomia Advisory & Research, Inc., said in a Viber message.

GDP by Industry, Growth Rates, 2022-2023 At Constant 2018 Prices, (in Percent)   

By sectoral output, Western Visayas had the quickest growth in services to 10.2% last year but slower than the 13% in 2022. It was followed by Cordillera Administrative Region (8.9% from 10.9%) and Mimaropa (8.8% from 11.7%).

Cagayan Valley led the industry sector with 8.5% growth last year, easing from 11.5% in 2022.

Central Visayas posted the fastest growth in agriculture output with 8%, reversing the 4.7% contraction of the previous year.

On the expenditure side, BARMM posted the highest growth in household spending (7.5% from 6.2%).

Government spending growth was the fastest in Northern Mindanao at 4.3% last year from 4.2%.

Western Visayas had the quickest expansion in gross capital formation, the investment component of the region’s economy, at 12.9% last year. This was still lower than the 14.8% in 2022.

NCR remained the largest gross regional domestic product (GRDP) on a per-capita basis at P460,969 last year, up by 3.8% from P443,976 figure in 2022.

“Looking ahead, the [NCR’s] GRDP is projected to pick up pace based on resilient commercial activities, increased public infrastructure spending, and the growth of digital financial services,” Mr. Roces said, “provided inflation is managed effectively.”

PSA will release April inflation data on May 7.

Source: Business World and PSA

San Carlos City Holds Joint LCPC and CIACAT-VAWC Meeting

The San Carlos City government held a joint meeting of the Local Council for the Protection of Children (LCPC) and City Inter-Agency Council Against Trafficking and Violence Against Women and Their Children (CIACAT-VAWC) today, Feb. 26, at the City Administrator’s Office.

Sangguniang Panlungsod Member and Women & Family Committee Chair Victoriana C. Cabili presided over the meeting attended by representatives of the various concerned agencies.

For LCPC, the agenda includes the upcoming Barangay Council for the Protection of Children (BCPC) functionality re-orientation and child representative quarterly meeting, revision/update of the Children’s Code, review of the LDPC workshop for CY 2024-2026 output, and reconstitution of LCPC members.

CIACAT-VAWC and LCPC Secretariat Lavern Rigor said that City DRRM Officer Joe Recalex Alingasa Jr. would allocate P1M for the children's emergency plan in exchange for annual work and financial plan submission.

She also said the LCPC would also submit a proposed resolution for the integration and adaptation of the children's plan to the local DRRM. On the other hand, the CIACAT-VAWC agenda includes the Provincial Opening Celebration of Women’s Month on March 6, local Women’s Month celebration on March 21, Safe Space Act orientation at the barangay level, B-VAW desk functionality by the Department of Interior and Local Government (DILG), and Gender Sensitivity Training for city officials, updates on the proposed additional monthly allowance to B-VAW desk officers, update report, and reconstitution of CIACAT-VAWC members.

Meanwhile, City Legal Officer Atty. Peter Parco shared that the proposed additional monthly allowance for B-VAW Desk Officers was already recommended based on the local government code.

San Carlos City Children and Women’s Affairs Inc. vice president Ma. Novah Sollesta and Philippine National Police (PNP)- San Carlos Women and Children Protection Desk Officer Ma. Angelie Operio also reported the total number of VAW victims.

SP Member Cabili also invited everyone to participate in Women's Month activities this March.

Source: LGU