SM Investments Corporation news and updates

Rappler's latest stories on SM Investments Corporation

ARTICLE FINDER

SM gets income boost from property, retail units

May 09, 2018 - 3:35 PM

The listed conglomerate of the Philippines' richest man posts a 10% rise in net income for the 1st quarter of 2018, thanks to its core businesses

STRONG RESULTS. SM president Frederic DyBuncio says: 'We continue to build on our strong 2017 performance with revenues rising faster in the first quarter this year.' Photo by Rob Reyes/Rappler

SM Group to expand, but not keen on telco

Apr 25, 2018 - 6:05 PM

SM Investments Corporation does not plan to go into the telecommunications industry, citing its lack of know-how and the high capital budget requirement

EXPANDING FOOTPRINT. SM president and chief executive officer Frederic DyBuncio says SM group is looking to invest in 'partners' in high-growth sectors. Photo by Rob Reyes/Rappler

Henry Sy Jr retires early from NGCP

Mar 07, 2018 - 5:00 PM

The son of the country's richest man leaves the National Grid Corporation of the Philippines 'to focus on his real estate business'

Property still drives SM's healthy financials in 2017

Feb 28, 2018 - 2:45 PM

The listed conglomerate of the Philippines' richest man posts consolidated revenues of P396.1 billion in 2017, 9% higher than the level in 2016

HEALTHY FINANCIALS. 'Our property and specialty retail businesses delivered particularly strong results,' SM president Frederic DyBuncio says. Photo by Rob Reyes/Rappler

Sy, Zobel still in, Aboitiz out of Forbes' list of Asia's richest families

Nov 15, 2017 - 2:09 PM

Two prominent Filipino clans are included in the magazine's annual list of the 50 wealthiest business dynasties in the region

BILLION-DOLLAR CLAN. Sy and Zobel de Ayala families are Philippines' two richest clans. Photos from Ayala's and SM Investments's official website

SM Investments' income up on strong core businesses

Nov 08, 2017 - 7:25 PM

The listed conglomerate of the Philippines' richest man, Henry Sy Sr, benefits from growth in its property and retail units

VIBRANT GROWTH. 'Our solid 3rd quarter results benefitted from vibrant growth in our property and retail businesses,' SM president Frederic DyBuncio says. Photo by Rob Reyes/Rappler

SM Prime income surges 16% on steady mall rental, residential sales

Nov 06, 2017 - 9:35 PM

SM Prime attributes revenue growth to higher rental revenues, steady improvement in same-mall-sales, and higher contribution from residential sales

65TH. SM Center Tuguegarao Downtown is the Sy family's 65th mall in the Philippines. Photo by Raymon Dullana/Rappler

After 2GO, SM group not looking to buy other logistics firms

Sep 20, 2017 - 7:45 PM

The president of SM Investments Corporation says their plate is 'full' when it comes to the logistics sector

PLATE IS FULL. 'No. At this time, we are fairly new in 2GO. We believe there is a lot of growth opportunities in 2GO,' SMIC chief Frederic DyBuncio replies when asked if SM is interested in other logistics firms. Photo by Rob Reyes/Rappler

SM Prime to open mall in Puerto Princesa, Palawan

Sep 13, 2017 - 4:50 PM

Once the mall opens on Friday September 15 it will be competing with Robinsons Place Palawan Chinatown Center Palawan NCCC Mall and LRC 908 Market Mall

ITS FIRST. SM City Puerto Princesa will have 3 levels of retail and dining floors, a supermarket, 3 158-seater SM digital cinemas, and two 48-seater Director's Club cinemas. File photo Rappler

SM wants to buy into Goldilocks

Aug 29, 2017 - 1:40 PM

The conglomerate of Henry Sy Sr the country s richest man is in preliminary talks with Goldilocks the country s largest bakeshop chain for a potential investment

NEW PROSPECT. The country's largest mall developer plans to acquire shares in Goldilocks Bakeshop. Photo from Wikipedia commons

SM Investments earns over P16 billion in just 6 months

Aug 09, 2017 - 4:55 PM

Even without the benefits of an election year the Philippines biggest conglomerate sustains growth across its core businesses

Mall operations continue to drive SM Prime's net income

Aug 07, 2017 - 5:45 PM

The additional 1 1 million square meters of retail space from new malls as well as expansions between 2015 and 2017 drive growth in SM Prime s mall rentals

FAST FACTS: SM Investments Corporation

Jun 28, 2017 - 7:45 PM

Here s what every consumer should know about SM Investments Corporation the conglomerate of the Philippines richest man

Doing business under Duterte? Philippines' richest family shows how

Jun 21, 2017 - 7:13 PM

Henry Sy Sr s conglomerate is expanding its presence in China and Mindanao His group has also started submitting unsolicited proposals for public infrastructure

8 Philippine companies among world's largest listed firms

May 25, 2017 - 8:00 PM

SMIC BDO JG Summit Ayala Top Frontier Metrobank Aboitiz and Meralco – with a combined market value of 72 4 billion – make it to Forbes 2017 Global 2000 list

LISTED. 8 Philippine companies were included in the Forbes' list of 2000 largest public companies in 2017.

SM Investments shakes up management, prepares 3rd generation

Apr 27, 2017 - 8:45 AM

It is an indication that the family would like to professionalize the management of the SM group in preparation for the future says its new chairman Jose Sio

MANAGEMENT SHAKE UP. Frederic DyBuncio, 57, replaces Harley Sy as the president of SMIC. All photos by Rob Reyes/Rappler

Logistics boosts 2GO's net income in 2016

Apr 17, 2017 - 6:20 PM

The management of 2GO attributes the strong performance to sustained topline growth coupled with improved cost efficiencies

LIFTED BY LOGISTICS. 2GO's non-shipping revenues grows by 30% to P10.32 billion in 2016 due to increased service offerings and improved market share from its major accounts. Screenshot from 2GO website

How SM Investments acquired stake in 2GO

Apr 04, 2017 - 2:25 PM

The Sy led conglomerate acquires a 34 5 stake in 2GO s parent company for 124 50 million

NEW INVESTOR. SM Investments Corporation is a new investor in 2GO, through a deal with its parent firm. Here is the brand structure of the logistics firm. Screenshot from 2GO website

SM enters logistics through stake in 2GO

Mar 31, 2017 - 8:13 PM

SMIC s new 34 5 stake in 2GO marks the marriage of the Philippines largest retailer with the country s largest logistics provider

PCC allows SM Investments to buy dormitory developer

Mar 19, 2017 - 11:45 PM

If pursued this will mark the SM group s entry into the country s rental housing market

HOUSING RENTAL. It was in October last year when SM Investments proposed to buy 61.2% shares in Philippines Urban Living Solutions. Background photo from Wikimedia

Why SM Investments lost P73 billion in a day

Mar 10, 2017 - 9:37 PM

SM Prime Holdings Incorporated overtakes SM Investments as the country s most valuable listed company in terms of market capitalization

SHARP DROP. The drop in SM shares dragged the Philippine Stock Exchange index (PSEi), which fell 149.18 points or 2.05% to close at 7,146.27 on Friday, March 10.

Property, banking fuel SM Investments' net income

Mar 01, 2017 - 9:10 PM

The Sy family s property and banking businesses continue to drive their conglomerate s financial performance

UPBEAT. SMIC says its property unit accounted for 39% of total earnings in 2016, with banks comprising 37% and retail 24%. Photo by Chrisee Dela Paz/Rappler

Aguirre, Trillanes, Google | 6PM wRap

Oct 04, 2016 - 8:17 PM

Watch the 6PM wRap with Zak Yuson

DOLE: 10,532 workers regularized so far under Duterte admin

Oct 04, 2016 - 1:15 PM

We are on track in our objective to reduce illegitimate contractualization practices and endo by 50 by the end of 2016 and abolishing it by 2017 says Labor Secretary Silvestre Bello III

SM Prime to open 7 new malls in 2017

Aug 30, 2016 - 1:08 PM

By end of 2017 SM Prime will have 67 malls nationwide

AGGRESSIVE EXPANSION. The biggest mall to open in 2017 is SM Premier Cagayan de Oro with 81,133 sqm. Rappler file photo

Henry Sy still PH's richest man for 9th straight year – Forbes

Aug 25, 2016 - 1:35 PM

The biggest gainer on the list of richest Filipinos percentage wise is Edgar Sia II

SMIC posts 8% income growth, plans more land reclamation

Aug 04, 2016 - 5:07 PM

The conglomerate plans to reclaim 660 hectares of land in Manila Bay in partnership with the city governments of Parañaque and Pasay for a mixed use development

Top 10 companies 'Filipinos want to work for' in 2016

Jul 27, 2016 - 4:55 PM

Jobstreet asks over 14 000 Filipinos which company they want to work for Here are the top 10

PROFITABILITY. Jobstreet notes that a company's profitability is one of the top factors when choosing an employer. In the photo is SMC President and COO Ramon Ang (front row, 2nd from left, seated). Photo by Chrisee Dela Paz/Rappler

Luxury hotel Conrad Manila opens its doors

Jun 16, 2016 - 3:30 PM

The SM owned Hilton managed hotel is located in the flourishing Bay City district

SMIC retains capital spending budget of P85B in 2016

Apr 27, 2016 - 9:30 PM

Bulk of the budget will be used to launch more shopping malls hotels office developments and residential projects

AGGRESSIVE EXPANSION. For 2016, SM Investments executives say their core units will continue with their aggressive expansion plans. Photo by Chrisee Dela Paz/Rappler

SM Investments Corp: We don't practice contractualization

Apr 27, 2016 - 6:45 PM

SMIC President Harley Sy says his company hires seasonal workers to augment its workforce which is legally allowed and similar to part time jobs

LIKE PART-TIME JOBS. SMIC executives say in an annual stockholders meeting that it ended 2015 with 65,436 employees, of which less than 1% are seasonal. Photo by Chrisee Dela Paz/Rappler

New UP campus in BGC to open this 2016

Mar 02, 2016 - 9:29 AM

UPDATED UP Vice President for Public Affairs Prospero de Vera says UP BGC s College of Law will offer two classes starting school year 2016 2017

NEW CAMPUS. The University of the Philippines Bonifacio Global City will offer graduate level courses to professionals. Photo by Misael Bacani/UPSIO

UP expands to Taguig with new building

Nov 06, 2015 - 5:51 PM

Henry Sy Sr Hall will serve students of both graduate and undergraduate levels

SM, Berjaya execs to PH: Focus on vocational training than K to 12

Oct 13, 2015 - 5:22 PM

For a country like ours we need more vocational schools We need labor and we need that for economic growth I don’t think we re in dire need of special skills at this point SMIC s Teresita Sy Coson says during FGCEO2015

 STRENGTHEN VOCATIONAL TRAINING. For SMIC's Teresita Sy-Coson and Berjaya's Vincent Tan, vocational schools will allow more people to qualify and work in industries here and abroad, like business process outsourcing (BPO) companies. Coson's photo by Forbes, and Tan's photo by Alecs Ongcal/Rappler

Cherry Foodarama to reopen, now under SM management

Oct 12, 2015 - 5:31 PM

Branches in Shaw and Congressional will reopen this week nearly 3 months since SM Investments Corporation acquire the grocery chain

REOPENING. Cherry Shaw will reopen on October 13 while Cherry Congressional will open again its doors to customers on October 15, SM Markets say.

Sy, Ayala, Aboitiz in Forbes' list of Asia's richest families

Oct 08, 2015 - 1:53 PM

The 3 prominent Filipino clans are included in the magazine s inaugural list of the 50 wealthiest business dynasties in the region

LEADERS. (From left) Henry Sy, Jaime Zobel, Jon Ramon Aboitiz has led their families in building businesses and their families are now considered among the richest in Asia, according to Forbes magazine.

DTI chief makes final push for MSMEs initiatives

Sep 17, 2015 - 6:34 PM

Gregory Domingo also confirms he will stay as DTI chief at least until after the country s hosting of the APEC Leaders’ Summit in November

FINAL PUSH. DTI chief Gregory Domingo says he will continue pushing initiatives for micro, small and medium enterprises, which represent 98% of all registered businesses.

Belle Corp's net income halved in H1

Aug 01, 2015 - 8:41 PM

Without non recurring gains from last year Belle Corporation would have doubled its recurring profit in the first half of 2015

CONSOLIDATION. Belle spun off its key gaming assets in 2014, transferring its stakes in City of Dreams Manila and Pacific Online Systems Corporation. File photo by Ted Aljibe / Agence France-Presse

SM to seal deal with Cherry Foodarama in June

Jun 24, 2015 - 6:40 PM

The conglomerate is set to acquire majority interest in the pioneering grocery business

8 PH firms in Forbes 'world’s biggest public companies' list

May 07, 2015 - 6:13 PM

The PH firms make it to the list of 2000 largest public companies as measured by revenues profits assets and market value

Manila to host 15th Forbes Global CEO Conference in October

Mar 18, 2015 - 2:27 PM

It will be the first time for the country to host the annual gathering of the ‘world’s most economically powerful business people’

Holding firm of PH's richest man nets P28.4B in 2014

Mar 05, 2015 - 2:45 PM

Henry Sy’s holding firm is up 3 6 on strong performance of its banking real estate and retail units

SM allots P80 billion for mall expansion

Feb 01, 2015 - 8:05 PM

Tycoon Henry Sy s holding firm retains the same amount of capital expenditures at P80 billion this year

megamall, sm megamall

Malaysia holding firm acquires 2% stake in BDO

Dec 24, 2014 - 11:30 AM

The deal between Khazana Nasional and the SM subsidiary marks Malaysia s state owned holding firm entry into the Philippines biggest bank

SMIC net income down 2.1% in Jan-Sept

Nov 07, 2014 - 4:50 PM

The Sys banks account for 41 9 of the group’s consolidated net income followed by property at 39 1 and retail at 19

Banking, property units boost SM group’s H1 profit

Aug 07, 2014 - 4:23 PM

SM’s food retail and malls segments are aggressively expanding to reach both urban and rural communities

SM Group raises $350M from dollar bond offer

Jun 04, 2014 - 9:50 AM

The offer proceeds will be used for general corporate purposes and refinancing existing debts

GOING REGIONAL. Sy-led SM Group wants to be a major regional real estate player. Photo taken during the May 31 press briefing of SM Investments Corp with brothers Hans Sy (2nd from left) and Henry Jr. (3rd from left)

SMIC's Tessie Sy-Coson: Keeping it local in a globalized world

May 24, 2014 - 12:25 PM

Tessie Sy Coson has one message to ASEAN neighbors: Invest in the Philippines

WOMAN ON TOP. SM Investments Corporation Teresita Sy-Coson shares her thoughts on the Philippine economy and the upcoming ASEAN Economic Community

SM group profit falls on weak banking units

May 14, 2014 - 11:46 AM

The Henry Sy led group saw decline in incomes of its banking businesses

Lower banking earnings weigh on SM Investments' first-quarter 2014 net income. AFP PHOTO

SM group's P15-B bond offer OKd

Apr 23, 2014 - 7:34 AM

Henry Sy s holding company is raising funds for debt refinancing and expansion

The SM group is raising funds. Photo by AFP