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SM Investments

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"SM Group" redirects here. For the South Korean entertainment agency sometimes known as "SM Group", seeSM Entertainment.

SM Investments Corporation(SMIC), also known asSM Group,is aFilipinoconglomeratewith interests in various sectors, mostly in shopping mall development and management,retail,real estate development,banking, and tourism.[3][4]Founded byHenry Sy,it has become one of the largest conglomerates in thePhilippines,[5]being the country's dominant player in retail with 208 stores nationwide. Of these, 47 are SM Department Stores; 38 are SM Supermarkets; 37 are SM Hypermarkets, and 86 are SaveMore branches.

SM Investments Corporation
Company typePublic
PSE:SM
IndustryConglomerate
Founded1958;66 years ago(1958),in
Manila,Philippines[1]
FounderHenry Sy
Headquarters10th Floor, One E-Com Center, Harbor DriveMall of Asia Complex,CBP-IA,Pasay,Philippines[2]
Area served
Philippines
Key people
Jose Sio (chairman emeritus)
Amando Tetangco Jr.(chairman of the board)
Teresita Sy-Coson(vice chairperson of the board) Henry Sy Jr. (vice chairman of the board)
Frederick Dy Buncio (president and CEO)
SubsidiariesSM Prime Holdings
SM Retail
SM Land
BDO Unibank
and othersubsidiaries
WebsitesminvestmentsEdit this at Wikidata

It is the largest company in the Philippines in terms ofmarket capitalization,and has repeatedly ranked as the top Philippine company in theForbes Global 2000.[6][7]

History

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In 1958,Henry Sy Sr.started his first company, ShoeMart (SM), a small shoe store in Carriedo, Manila, Philippines. He initially focused on buying large supplies of shoes from the United States. His business expanded as he transformed his shoe store into a department store.[8]

At this point, Sy set up his second company, SM Department Store Inc., and began selling stocks to department stores. In 1978, he began buying supermarkets at the northern end ofEDSAin Quezon City. During the 90s when he opened SM Megamall, his companies were listed in thePhilippine Stock Exchange,SM Prime HoldingsInc.[9]By 2005, the SM Investments Corporation was inaugurated.

In April 2017, SMIC appointed Jose Sio as CEO.[10]

Subsidiaries

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Retail
Main article:SM Retail
  • SM Markets – a chain of food retail stores consisting of SM Supermarket, SM Hypermarket and Savemore.
  • SM Store – a department store
  • Walter Mart– a shopping mall owned by a joint venture between SM and a local company.
  • Alfamart– a convenience store owned by a joint venture between SM and an Indonesian company.
  • Specialty Stores – SM operates leading local retail chains such asAce Hardware,SM Appliances, Homeworld, Our Home,Toy Kingdom(International Toyworld Inc.), Kultura, Baby Company, Sports Central, Pet Express,Miniso,Watsons,Uniqlo,[11]etc.
  • Gentree Fund – a venture capital fund investing in early-stage all the way to pre-IPO companies.[12]
Banking
  • BDO Unibank– one of the largest banks in the Philippines
  • ChinaBank– the first privately-owned local commercial bank in thePhilippines– (SM owns 30% of the company)
Property
Main articles:SM Prime HoldingsandSM Supermalls
  • SM Supermalls– the shopping malls of SM Investments Corporation is operated by its subsidiary,SM Prime Holdings.
  • SM Development Corporation (SMDC) – is a residential property developer which focuses on the premium middle market. SMDC now operates SM Residences and MPlace.
  • Mall of Asia Complex – is an alternative business and tourism district, as well as the home of theSM Mall of Asia,SMX Convention Center(the largest private venue in the Philippines), OneE-com Center andSM Mall of Asia Arena(one of the largest private sports venues in the Philippines). The Mall of Asia Complex occupies 60 hectares of land along the coast of Manila Bay, offering locations for business, tourism, retail, and leisure projects.
  • OCLP Holdings – the parent of Ortigas & Company Limited Partnership. Since November 2014, the consortium of SM Investments and the family of Francisco Ortigas has owned 37% of the holding.
Lifestyle Entertainment
  • SM Cinema– includes Director's Club Cinema,IMAXTheatre, WM Cinemas, Blink, ePlus, and Snack Time.
  • SM Skating
  • SM Game Park
  • Exploreum
  • SM Tickets
  • SM Mall of Asia Arenais a venue which hosts concerts and other big events, opened on June 16, 2012. Its seating capacity is 16,000 and it hosted the2013 FIBA Asia Championship.It is one of the largest arenas in the Philippines.
  • SM Seaside Arena,the company's second arena is located inCebu City.[13]Plans for the arena were first made in 2013, but were reportedly canceled in 2017,[14][15]but were eventually resumed later on. The arena is slated to open by 2025.
  • SM Food Court
  • SM Appliance Center
Leisure
  • Costa del Hamilo Inc – is a large-scale eco-tourism project to develop in phases 5,700 hectares of land by the sea in Nasugbu, Batangas into a network of coastal resort communities.
  • Highlands Prime, Inc. – is a residential developer in Tagaytay Highlands, a mountainside resort and residential complex.
Mining
  • Atlas Consolidated Mining and Development Corporation – is engaged in gold mining operations.[16]
Hotels and Convention Centers
Education
Gaming
  • Belle Corporation is Henry Sy's foray into the gaming industry in the Philippines, hoping to capitalize on the future of Pagcor'sentertainment city.It is the developer of leisure and tourism destinations in the country.[19][20][16]– (SM owns 27%)
Other Investments and Affiliations
  • 2GO- supply chain operating in shipping, freight, warehousing and express delivery.[21]- (SM owns 67.2%)
  • Airspeed - an end-to-end logistics solutions and express courier company.[19][22]- (SM owns 51%)
  • Atlas Consolidated Mining and Development Corporation - mining company with significant holdings of Philippine mineral resources.[19][23]- (SM owns 34.1%)
  • CityMall- commercial centers owned by a joint venture between SM and DoubleDragon Properties Corp.[16]- (SM owns 34%)
  • Goldilocks- a leading Filipino bakeshop heritage brand trusted by Filipino consumers for over 50 years.[16]- (SM owns 74%)
  • MyTown - Dormitories owned by Philippines Urban Living Solutions, Inc.[16]- (SM owns 71.3%)
  • National Grid Corporation of the Philippines(NGCP) - privately-owned power transmission company established in January 15, 2009 through Republic Act (RA) 9511 that took over fromNational Transmission Corporation(TransCo) underDepartment of Energy(DOE) of thePhilippine governmentduring theadministrationofPresidentGloria Macapagal Arroyowhich privatized the operations, maintenance, management, expansion, construction, and eminent domain of the Philippine power grid and its related assets and facilities. Assuming it secures a renewal, NGCP has a 50-year concession period from January 15, 2009 to December 1, 2058. It is owned by SM Group, headed by Henry Sy Jr., in joint venture with theState Grid Corporation of China(SGCC) which has 40% of the total shareholdings.[24]- (SM owns 60%)
  • Neo - is the owner, developer, and manager of the Philippines' top certified green buildings located inBonifacio Global City.[19][25]- (SM owns 95% in Neo Subsidiaries and 34% in Neo Associates)
  • Philippine Geothermal Production Company (PGPC) - geothermal development company owned by Allfirst Equity Holdings (AEH)[16]- (SM owns 100%)
  • United Infrastructure Corporation (UIC) - infrastructure development company owned by a joint venture between SM and thePhilippinemedia conglomerateand broadcasting companyABS-CBN CorporationunderLopez Holdings Corporationowned by theLópez family.[16]- (SM owns 75.9%)

Dissolved

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  • Pilipinas Makro- A former warehouse club that most of its locations were converted toSM Hypermarketand SM Savemore.
  • Supersale Club- A former annex that was located northeast of the SM North EDSA Complex. (The site of the building is now The North Towers)
  • Equitable PCI Bank - A former bank which later merged withBDO.

Social involvement

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SM Foundation

SM Foundationis the corporate responsibility arm of the SM Group of Companies. The foundation has various areas of advocacy: education, scholarship programs, building schools, disaster response, health care, medical missions, mobile clinics, and religious community projects.

SM Cares

SM Cares is a program created to consolidate and coordinate all of SM Prime's corporate social responsibility (CSR) initiatives. Carried out in all SM malls nationwide, SM Cares' CSR projects cover environmental conservation (energy, air and water), and assistance to customers of SM malls with special needs such as the disabled, special children, the elderly and nursing mothers.[26]

References

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  1. ^"SMIC".Archived fromthe originalon August 8, 2016.
  2. ^"SM Investments Corporation".sminvestments.RetrievedJanuary 23,2019.
  3. ^"SM Company Profile (from PSE website)".Archivedfrom the original on May 26, 2011.
  4. ^The S.M. Group International Inc.,Investing Businessweek,September 25, 2010.
  5. ^"Home - SM Investments Corporation".Archived fromthe originalon May 1, 2009.
  6. ^"SM Investments on the Forbes Global 2000 by Hans Sy, Jr. List".Forbes.RetrievedFebruary 16,2017.
  7. ^"The World's Biggest Public Companies".Forbes.RetrievedFebruary 16,2017.
  8. ^"Sm Energy Co (SM:New York)".Business Week.
  9. ^"SM Prime Holdings -".smprime.RetrievedJanuary 23,2019.
  10. ^Dumlao-Abadilla, Doris (April 27, 2017)."SM Investments names Sio as new chair, replacing Henry Sy".business.inquirer.net.RetrievedApril 27,2017.
  11. ^"Uniqlo to open first PH store in June at SM MOA".ABS-CBN News.
  12. ^"Gentree Fund is setting aside $40 million to invest in companies entering The Philippines".Entrepreneurship News, Community, and Resources | BEAMSTART.RetrievedJuly 14,2021.
  13. ^"Mall of Asia Arena | About Mall of Asia Arena".mallofasia-arena.Archived fromthe originalon May 24, 2012.RetrievedJanuary 13,2022.
  14. ^Nalzaro, Bobby (January 23, 2017)."Nalzaro: SM to cancel multi-billion projects".Sun.Star Cebu.Sun.Star Cebu.RetrievedFebruary 6,2019.
  15. ^Limpag, Mike T. (January 25, 2017)."Limpag: Fans dream of arena foiled by politics".Sun.Star.Sun.Star.RetrievedFebruary 6,2019.
  16. ^abcdefg"Equity Investments".SM Investments Corporation.
  17. ^"From local shoe shop to global conglomerate: Henry Sy's list of companies".ABS-CBN News.
  18. ^"About APC".APC.edu.ph.
  19. ^abcd"Investor Presentations - SM Investments Corporation".SM Investments Corporation.RetrievedAugust 28,2023.
  20. ^"Belle Corporation".RetrievedAugust 28,2023.
  21. ^"Portfolio Investments".SM Investments Corporation.
  22. ^"Homepage - Airspeed".RetrievedAugust 28,2023.
  23. ^"About Us: Atlas Consolidated Mining and Development Corporation".RetrievedAugust 28,2023.
  24. ^Marichu A. Villanueva (June 16, 2023)."Regulating the regulators".The Philippine Star.RetrievedAugust 26,2023.
  25. ^"About Us - NEO".RetrievedAugust 30,2023.
  26. ^"About SM Cares - Let's do Our Share | SM Supermalls".smsupermalls.Archived fromthe originalon January 6, 2013.RetrievedJanuary 13,2022.
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