SM Investments Corporation

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SM Investments Corporation
Type Public
Industry Retail, shopping mall operations, banking, property, hotels and corporate governance
Founded Manila, Philippines (1994)
Founder(s) Sy Family
Headquarters SM Central Business Park, Mall of Asia Complex, Pasay City, Metro Manila, Philippines
Key people Henry Sy Sr., founder, chairman and CEO
Subsidiaries SM Prime Holdings (PSESMPH),
SM Development (PSESMDC),
Banco de Oro (PSEBDO),
China Banking Corporation (PSECHIB)
and other Subsidiaries
Website http://sminvestments.com/

SM Investments Corporation, SM Investments, or SMIC, is a holding company with interests in shopping mall development and management, retail, real estate development, banking, and tourism.[1] The SM Group was founded by Henry Sy, Sr. It has become one of the largest conglomerates in the Philippines.[2] SM is the Philippines' most 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.

History[edit]

In 1958, Sy's first company, Shoemart (SM), was started in Carriedo, Manila. Initially, Sy focused on buying large supplies of shoes in the US. His plans accelerated as he transformed his shoe store into a department store.[3]

At this point, Sy set up a second company (SM Department Store Inc.) to begin selling stock through department stores. In 1978, Sy began buying supermarkets at the northern end of EDSA in Quezon City. By the time he built his first mall, SM City North EDSA in 1994, his companies were listed in the Philippine Stock Exchange, SM Prime Holdings Inc. [4] By 2005, the SM Investments was inaugurated.

Subsidiaries[edit]

Retail and Malls

SM Prime Holdings is the parent company of the SM Group's shopping malls. It is the largest shopping mall and retail operator in the Philippines. It was incorporated on January 6, 1994 by Filipino-Chinese entrepreneur Henry Sy to develop, conduct, operate and maintain SM commercial shopping centers and all businesses related thereto, such as the lease of commercial spaces in the compound of shopping centers. It went public on July 5, 1994 and subsequently grew to become the largest company listed on the Philippine Stock Exchange in terms of revenue. The company's main sources of revenues include rental income from mall and food courts, cinema ticket sales and amusement income from bowling and ice-skating. SM Prime is currently one of the largest shopping mall chains in the world with 40 supermalls built and eight proposed/under construction. Its largest mall, the first of all SM malls, is SM City North EDSA. Alongside is the once-largest mall in the country, SM Mall of Asia and the largest mall for a 15-year period, SM Megamall.

SM Prime operates the following:

SM Department Store is the foundation of SM and the lifestyle and fashion chain. SM holds more than 50 SM Department Stores nationwide.

SM Supermarket is the supermarket chain. It offers food and non-food products.

SM Hypermarket is a retail chain, selling wet market, grocery, general merchandise, and discount products.

  • Pilipinas Makro, Inc. (Makro)

Pilipinas Makro, Inc. (Makro) is the retail chain. Now it is a member of SM Group.

Banking

  • Banco De Oro is the largest bank in the Philippines in terms of assets. It is a full-service universal bank providing a wide range of corporate, commercial, retail, private banking and investment banking services through its 700 branches in key business and commercial areas nationwide. It has the largest loan portfolio as well as the largest trust of Philippine banks.

China Banking Corporation is the Philippines' fourth largest universal bank by market capitalization. Established in 1920, it is the first privately owned commercial bank in the Philippines. It is likewise the first bank in Southeast Asia to process deposit accounts online in 1969 and the first Philippine bank to offer phone banking in 1988. China Bank is one of the strongest and most profitable banks in the Philippines today. The Bank posted a January to September 2009 net income of P3.21 billion, 40.7% higher than the P2.28 billion income recorded for the same period in 2008. This income performance translates to a 15.53% return on equity and a 2.02% return on assets, among the highest in the industry.

China Bank provides banking services through 248 branches and 388 ATMs nationwide (including China Bank Savings).

Real estate property

  • SM Development Corporation is a residential property developer focusing on the premium middle market. SMDC now operates SM Residences and MPlace.

Highlands Prime is a residential developer in Tagaytay Highlands, a mountainside resort and residential complex.

The Mall of Asia Complex is an alternative business and tourism district and the home of the SM Mall of Asia, SMX Convention Center (the largest private venue in Philippines), OneE-com Center and Mall of Asia Arena (one of the largest private sports venue in 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.

  • Hamilo Coast

Hamilo Coast is a large-scale ecotourism project to develop in phases 5,700 hectares of land by the sea in Nasugbu, Batangas into a network of coastal resort communities.

Mining

Atlas Consolidated Mining and Development Corporation is engaged in gold mining operations.

Hospitality and convention

  • SM Hotels

SM Hotels and Conventions now operates Taal Vista Hotel in Tagaytay City, Radisson Hotel Cebu, Pico Sands at Pico de Loro in Nasugbu, and Megatrade Hall in Mandaluyong City and Cebu.

SMX is a convention center located within the Mall of Asia complex hosting conventions, seminars, and conferences. Its first branch opened on November 26, 2007. It also has branches in SM Lanang Premier in Davao City (Opened on September 12, 2012) & SM Aura Premier in Taguig City (opened on May 17, 2013). It will soon open in SM City Bacolod in September 2014, SM Seaside City Cebu in 2015 and in SM City Clark.

The SM Arena is a venue which hosts concerts and other big events. It was 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 of a different name in SM Seaside City Cebu in Cebu City. [5]

Gaming

  • Belle Corporation is Henry Sy's foray in the gaming industry in the Philippines hoping to capitalize on the future of Pagcor's entertainment city.

Corporate social responsibility[edit]

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[edit]

SM Cares is a program born 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.[6]

Other subsidiary[edit]

International Toyworld Inc. is a subsidiary of SM which deals with American-branded and local-branded toys.

See also[edit]

References[edit]

External links[edit]