17 hours ago
3
Upgrade to High-Speed Internet for only ₱1499/month!
Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.
Visit Suniway.ph to learn
The SEC approved the Cemex Holdings Philippines [CHP 1.20, up 0.8%; 35% avgVol] [link] name change to Concreat Holdings Philippines. As noted by CHP, “Concreat” is pronounced like “concrete”.
MB bottom-line: The name is a portmanteau of “Con”--from the Consunji Family name--and the word “create”. It makes a lot of sense for CHP to ditch the “Cemex” name because that’s the corporate name of the massive Mexican conglomerate that used to own the company, and neither the parent company nor the Consunji Family would be excited about the company continuing to do business under that old name. The name that was chosen makes a lot less sense to me, though. If the name is pronounced like “concrete”, then the name loses its distinctiveness and it fails as a brand identifier. It would be like starting a new Coke competitor, and calling the beverage “Cola” or “Soda”. And then there’s the retention of the “Philippines” element. That’s something normally done by the local branch of a foreign company, like OceanaGold Philippines. I get that it helps retain the “CHP” ticker, but why even bother with that? What sentimental value is there in the “CHP” ticker? Weird choices.
Merkado Barkada is a free daily newsletter on the PSE, investing and business in the Philippines. You can subscribe to the newsletter or follow on Twitter to receive the full daily updates.
