BIZ BUZZ: DTI slaps Dali with show cause order
The Department of Trade and Industry (DTI) has ordered Dali Everyday Grocery (Dali) supermarket chain to respond to 13 complaints filed by consumer rights group Malayang Konsyumer.
Trade and Industry Assistant Secretary Amanda Nograles on Monday said the show cause order was sent to Dali on May 29.
“There are issues in their branches in Marikina, in Rizal, Parañaque. Many different branches are involved,” Nograles said in an interview over Teleradyo Serbisyo.
Nograles said there were also allegations of cashiers being arrogant and rude, sanitary issues, erroneous weighing of goods, and shoppers getting mistaken as shoplifters, among others.
She added that if found guilty, the company could face an administrative fine of up to P300,000 and possible revocation of their business permit for noncompliance with sanitary regulations. —Alden M. Monzon
Expresso, anyone?
Hubert Young, the visionary behind UCC, is gearing up to launch this week a new coffee concept that promises to jolt the on-the-go coffee scene.
Article continues after this advertisementDrawing inspiration from Japan’s pop culture and instantly recognizable clean aesthetic, Expresso’s mission is “to provide convenient coffee venues that serve the finest flavors of Japanese coffee at an affordable price.”
Article continues after this advertisementFor Young, Expresso is where convenience meets great coffee experience with its “real coffee” especially blended to deliver a kick but at affordable prices.
The first branch will open this week at the Petron station on the corner of Gil Puyat and Makati Avenues in Makati City, marking the beginning of a broader expansion plan aimed at delivering its signature flavors nationwide.
Young, who brought to the Philippines such popular Japanese franchises as MOS Burger, Mitsuyado Sei-men, Coco Ichibanya, Shaburi and Kintan, Yamato Cafe and Bakery and UCC Cafe, says he sees at least 50 Expresso outlets popping up in the immediate future.
The timing couldn’t be better with the Philippines emerging as the undisputed coffee leader in Southeast Asia.
With a market size of $5.82 billion and a robust growth rate of 8.75 percent a year until 2025, coffee consumption in the country is at an all-time high and still growing thanks to a young population ever eager to have a new coffee experience. — Tina Arceo-Dumlao
DITO’s return to equity market
DITO CME Holdings Corp. is inching closer to launching its proposed P4.2-billion follow-on offering as it seeks to raise funds for the expansion of its telecommunication business.
On Monday, the company led by Davao-based businessman Dennis Uy announced it had filed the registration statement with the Securities and Exchange Commission.
The offering consists of 1.95 billion common shares to be sold at P2.15 each.
Philstocks Financial Inc. senior research analyst Japhet Louis Tantiangco, however, said the company might find it difficult to attract investors because the company is not yet profitable. The general market condition is also less than ideal, he pointed out.
“While the economic prospects of the telecommunications industry still remain bright amid expectations of sustained robust demand for telecommunication services, competition within the industry is already becoming fierce which is a challenge to the players,” Tantiangco added.
Final offer price and final prospectus are set to be out by Aug. 15. Settlement date and listing is scheduled for Sept. 3. –– Tyrone Jasper C. Piad
