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In a regulatory filing, DoubleDragon said its board approved the conversion of the company into an investment holding company to take advantage of the abundance of business opportunities.
The board approved the change of the company’s corporate name to DoubleDragon Corp.
From a small start up in 2009, DoubleDragon has grown into a company with over P122.5 billion assets and a market capitalization of P30.97 billion.
“DoubleDragon is now ready to begin its new journey as it aspires to become one of most active,durable and responsible Filipino conglomerates. As our world pivots to a new economy, we view this as the right time for DoubleDragon to prepare itself for opportunities that will present itself along the way as we navigate out of this global pandemic,” said Sia, chairman of the company.
“We anticipate that after a major global disruption like what we are experiencing right now,
once the dust settles and things start to heal, it will surely cause some ventures that used to be relevant to become irrelevant, and transform some that used to be irrelevant to become relevant,” he added.
DoubleDragon co-chairman Tony Tan Caktiong said the company which has grown its leasable space to 1.024 million square meters, is in an excellent position where it can capitalize on its strong balance sheet to add worthwhile investments outside of the property sector.
