CEBU, Philippines — Amid its aggressive move for expansion in diversified industries, homegrown Duros Group of Companies is setting aside the possibility of entering public finance channel or Initial Public Offering (IPO).
The Group’s president Fe M. Barino said in an interview that the company has enough resources to finance its planned expansions and investments fuelled by the vibrant construction sector.
Although, Barino said the company is not closing its doors in looking at possibilities to eventually go public, she however said this kind of initiative could wait.
The Philippine Stock Exchange (PSE) has been encouraging Cebuano companies especially those with good business track record and high potential for growth to get enlisted.
PSE stated in today’s highly competitive market, a global mindset is compulsory, a company that is listed commands respect, integrity, from the market, while it is a way of projecting good impression to future partnership with other entities.
Being listed, which requires transparency, good governance, and professionalism, brings family-run companies to last through generations.
At present, Barino said the company’s capitalization resources is bolstered by the remarkable growth of construction projects from both private and public developments.
Its construction arm, Duros Development Company registered at least 50 percent year-on-year, due to big ticket construction projects commissioned by the government.
Barino confirmed analysts’ market observation that the construction industry in the country is experiencing one of its peaks, fuelled by the Duterte’s multi-trillion-peso budget under the Build-Build-Build program.
With its robust expansion plans in the next few years, taking advantage of the good economic outlook of the Philippines, Barino said going public may be considered in the future.
While the Group’s construction arm is now busy constructing infrastructure projects like bridges, roads, government buildings, its other arms are also expanding especially in
taking advantage to consistent growth commercial and residential real estate segments, including tourism related development projects.
Duros Group of Companies, with headquarters in Liloan, Cebu, is an aggrupation of family-owned companies of diversified businesses to include trade, supply and services for the construction, power, and food industries. (FREEMAN)