HD Megratrucks and Equipment Inc., the Philippine distributor of trucks and equipment from China and Japan, said Thursday it remains optimistic about business prospects this year despite the implementation of the Tax Reform from Acceleration and Inclusion or Train Law.
HD Megatrucks president Daniel Chua told reporters his company raised prices by 5 percent to 10 percent because of the Train law.
“This all natural. If the whole market is increasing, we cant’ do anything,” he said during the opening of a new HD showroom in Balintawak, Quezon City.
Chua said despite the Train Law, he was optimistic about the company’s prospects this year because of the government’s ‘Build, Build, Build’ program.
“The demand is growing quite good and we are targeting a 50-percent growth this year. Our market right now is about 30 percent and we want to get at least 50 percent of the market by a year or two,” Chua said.
Chua said the company invested P10 million to P15 million for the new showroom.