|
Monday, October 13, 2003
Makro to open 10th outlet in Cagayan de Oro
By Stephen Capillas
MISAMIS Oriental will host the 10th store outlet to be established by Pilipinas Makro Inc. (PMI), the largest wholesale, cash-and-carry distributor of consumer goods in Asia.
In a press statement, Makro operations manager Marivic Chan said the opening signifies the first huge investment in the area by the company for 2003.
The 10th Makro outlet will be located along the Cagayan de Oro-Iligan Highway corner Pelaez Boulevard, Kauswagan in Cagayan de Oro.
The city is known as the second biggest urban settlement on the island of Mindanao and considered as the most important center of growth in northern Mindanao.
According to Makro Operations Director Howard Baty, the reason for selecting the site for the second store in Mindanao is because of its strategic location.
He said the area serves as a gateway of Misamis Oriental province to the rest of northern Mindanao and vice versa.
"Such being the case, we may able to serve our target markets not only in Cagayan de Oro City but the rest of the province including Iligan City and Bukidnon," Baty said.
The PMI executive further noted that the construction of the store is now ongoing and is expected to be fully operational before the end of the year.
As a matter of fact, he added, the construction of PMI's 11th store, in Iloilo, is simultaneous with that of Cagayan de Oro.
Makro is a joint venture company formed by the Holland-based SHV Holdings N.V., and two of the biggest business conglomerates in the country today--SM Investments Corporation and Ayala Land Inc.
The fundamental business concept of Makro is that of a self-service, cash-and-carry trading operation under the wholesale club format.
It sells both food and non-food products to registered business and professional customers and institutions such as schools, sari sari stores, hospitals, restaurants and hotels.
Members are issued a trade card that they can use to transact business in the store. Makro is not open to the general public.
Earlier, Mayor Vicente Emano expressed full support to Makro, noting this will help in the overall improvement of Cagayan de Oro and its neighboring communities.
PMI executives recently met with the mayor to discuss Makro's investment plans.
The presence of Makro is expected to bring Cagayan de Oro and nearby areas to the map of prospective investment sites in the Philippines.
Its opening is seen to greatly contribute in increasing the level of investor confidence not only in the city, but in the whole province as well.
The company's presence would result to increased revenues for the local government and likewise increases employment and income opportunities for the people within the area and neighboring towns.
(October 13, 2003 issue)
Write letter to the editor. Click here.
Join the Sun.Star message board. Click here. |
|
[ return
to top ]
[ home
]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
|
