SM Investments

SM Investments Corporation (SMIC), also known as SM Group, is a Philippine conglomerate with interests in shopping mall development and management, retail, real estate development, banking, and tourism.[3][4] Founded by Henry Sy, it has become one of the largest conglomerates in the Philippines,[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
TypePublic
PSESM
IndustryConglomerate
Founded1958 in Manila, Philippines[1]
FounderHenry Sy Sr.
Headquarters10th Floor, One E-Com Center, Harbor Drive Mall of Asia Complex, CBP-IA, Pasay, Philippines[2]
Area served
Philippines
Key people
Jose Sio (Chairman)
Frederic DyBuncio (President and CEO)
SubsidiariesSM Prime Holdings
SM Retail
SM Land
Banco de Oro
and other subsidiaries
WebsiteSM Investments Corporation

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

HistoryEdit

In 1958, Henry Sy Sr. started his first company, ShoeMart (SM), a small shoe store in Carriedo, Manila. 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 of EDSA in Quezon City. During the 90s when he opened SM Megamall, his companies were listed in the Philippine Stock Exchange, SM Prime Holdings Inc.[9] By 2005, the SM Investments Corporation was inaugurated.

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

SubsidiariesEdit

Retail
  • SM Markets - a chain of food retail stores consisting of SM Supermarket, SM Hypermarket and Savemore.
  • The 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 as Ace Hardware, SM Appliances, Homeworld, Our Home, Toy Kingdom (International Toyworld Inc.), Kultura, Baby Company, Sports Central, Pet Express, Miniso, Watsons, Uniqlo,[11] etc.
Banking
Property
  • 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 the SM Mall of Asia, SMX Convention Center (the largest private venue in the Philippines), OneE-com Center and 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, IMAX Theatre, WM Cinemas, Blink, ePlus and Snack Time.
  • SM Skating
  • SM Bowling and Leisure Center
  • Exploreum
  • SM Tickets
  • SM Mall of Asia Arena is a venue which hosts concerts and other big events, opened on June 16, 2012. Its seating capacity is 16,000 and it hosted the 2013 FIBA Asia Championship. It is one of the largest arenas in the Philippines. In 2013, the SM Group announced that there will be another arena named Seaside City Arena in SM Seaside City Cebu in Cebu City.[12] However in January 2017, SM decided to cancel its plans to build the arena due to the alleged attacks by the Cebu City mayor, Tomas Osmeña against the project.[13][14]
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.[15]
Hotels and Convention Centers
Education
Gaming
  • Belle Corporation is Henry Sy's foray in the gaming industry in the Philippines, hoping to capitalize the future of Pagcor's entertainment city.[15] - (SM owns 27%)
Other Investments
  • 2Go - supply chain operating in shipping, freight, warehousing and express delivery.[15]
  • CityMall - commercial centers owned by a joint venture between SM and DoubleDragon Properties Corp.[15]
  • MyTown - Dormitories owned by Philippines Urban Living Solutions, Inc.[15]

Social involvementEdit

SM Foundation is the corporate responsibility arm of the SM Group of Companies. The foundation has various areas of advocacy: education, scholarship programs, building schoolhouses, a mall-based outreach program, health care, medical missions, mobile clinics, hospital activity centers 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 40 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.[18]

ReferencesEdit

  1. ^ [1]
  2. ^ "SM Investments Corporation". sminvestments.com. Retrieved 23 January 2019.
  3. ^ "SM Company Profile (from PSE website)". Archived from the original on 2011-02-14.
  4. ^ The S.M. Group International Inc., Investing Businessweek, September 25, 2010.
  5. ^ HOME - SM Investments Corporation Archived February 14, 2011, at WebCite
  6. ^ "SM Investments on the Forbes Global 2000 by Hans Sy, Jr. List". Forbes. Retrieved 2017-02-16.
  7. ^ "The World's Biggest Public Companies". Forbes. Retrieved 2017-02-16.
  8. ^ "Sm Energy Co (SM:New York)". Business Week.
  9. ^ "SM Prime Holdings -". smprime.com. Retrieved 23 January 2019.
  10. ^ Dumlao-Abadilla, Doris. "SM Investments names Sio as new chair, replacing Henry Sy". business.inquirer.net. Retrieved 2017-04-27.
  11. ^ "Uniqlo to open first PH store in June at SM MOA". ABS-CBN News.
  12. ^ [2]
  13. ^ Nalzaro, Bobby (23 January 2017). "Nalzaro: SM to cancel multi-billion projects". Sun.Star Cebu. Sun.Star Cebu. Retrieved 6 February 2019.
  14. ^ Limpag, Mike T. (25 January 2017). "Limpag: Fans dream of arena foiled by politics". Sun.Star. Sun.Star. Retrieved 6 February 2019.
  15. ^ a b c d e "Equity Investments". SM Investments Corporation.
  16. ^ "From local shoe shop to global conglomerate: Henry Sy's list of companies". ABS-CBN News.
  17. ^ "About APC". APC.edu.ph.
  18. ^ [3]

External linksEdit