SM Prime Holdings Inc

SM Investments Corp., the holding company of retail tycoon Henry Sy, plans to list a unit of SM Prime Holdings that operates malls in China over the next five years. SM Investments chief finance officer Jose Sio told reporters that the company was considering the Singapore, Shanghai or Hong Kong stock exchanges for the listing of the China mall operations. "Nothing is definite yet, including the corporate name. It is a vision and we are planning for the future," Sio said.  

Sy-led SM Prime Holdings, Inc. is looking at listing its Hong Kong-based property unit in the overseas market, to solidify its presence abroad. In an interview, SM Prime Holdings Chief Finance Officer Jose T. Sio said SM Land (China) Ltd. will likely go public in the next five years the moment it has reached a "critical mass." "The [company] can be listed separately whether in Hong Kong, Singapore or in Shanghai," he said.

The [company] can be listed separately whether in Hong Kong, Singapore or in Shanghai   -Jose T Sio

 

SM Prime Holdings will increase capital spending 66 percent next year despite a global financial crisis that has sent developed economies into recession. SM Prime is bucking a domestic trend in which big corporations like the Philippine Long Distance Co. and Globe Telecoms announced cuts in their 2009 spending plans earlier this month. The worst financial crisis in 80 years has depressed profits at major financial and consumer companies worldwide.  

SM Prime Holdings Corp, a unit of SM Investments Corp, said on Wednesday it would open five malls in the Philippines next year, bringing its total shopping malls all over the country to 41. The company, the Philippines' largest mall developer and operator and owned by the country's richest man Henry Sy, expects to expand the total gross floor area of its malls to 4.7 million square metres by the end of 2010, up 9.3 percent from about 4.3 million at the end of 2008. SM Prime also operates three malls i  

SAYING they are counting the chicks before the eggs are hatched, Cebu City officials identified yesterday the projects to be funded by the P600-million down payment of SM Prime Holdings Inc. for the South Road Properties (SRP) lot it wants to buy. Mayor Tomas Osmeña said yesterday that the P600 million will fund this year's Supplemental Budget (SB) 8, which will include cash assistance for the barangays, road repairs and acquisition of lots to be used as playgrounds and public parks. "The Manny Pacqui

We’re going to have to fund SB 8 anyway. If not, then we’ll fund it in SB 1 for next year   -Tomas Osmena

 

SM Investments continues to thrive despite the economic slowdown, reporting yesterday that its retail profits jumped 37 percent in the period January to September. The holding company of mall and banking tycoon Henry Sy Sr. said the profit from its nationwide retail ventures, which contributed 81 percent of total sales, grew 37 percent in the first nine months to P3.1 billion. SM Investments said its combined profits for the same period rose 14 percent to P10.8 billion, while sales increased 14 percen

SM thrives and emerges stronger in times of crisis   -Jose Sio

 

Sy-led SM Investments Corp. (SMIC) is confident the local economy will continue to remain robust in the next five years, disclosing yesterday that it plans to invest as much as P211 billion until 2014.  

ANOTHER giant mall from the country's premier mall operator, SM Prime Holdings, is set to start construction as early as January 2010.  

AS if to taunt his critic and cousin former senator John Henry "Sonny" Osmeña, Cebu City Mayor Tomas Osmeña urged other private companies to pay their taxes in advance so the City can use it for services for their benefit.  

The Cebu City government's undertakings in the South Road Properties (SRP) are "grossly disadvantageous" to the city, according to former senator John Henry "Sonny" Osmeña.