SM Investments Corporation

SM Investments Corporation
Holding company
Founded Manila, Philippines (1994)
Founder Sy Family
Headquarters SM Central Business Park, Mall of Asia Complex, Pasay, Metro Manila, Philippines
Key people
  • Jose Sio
    (Chairman)
  • Frederic C. DyBuncio (President & CEO)
Subsidiaries SM Prime Holdings
SM Development
Banco de Oro
China Banking Corporation(PSE: CHIB)
and other Subsidiaries
Website www.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] founded by Henry Sy, Sr. It has become one of the largest conglomerates in the Philippines,[2] being the country's 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.

It is the largest company in Philippines in terms of market capitalization, and has repeatedly ranked top Philippine company in the Forbes Global 2000.[3][4]

History

In 1958, Sy's first company, Shoemart (SM), started 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.[5]

At this point, Sy set up his second company, SM Department Store Inc., and began selling stocks to department stores. In 1978, Sy 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.[6] By 2005, the SM Investments Corporation was inaugurated.

In April 2017, SMIC appointed Jose Sio as CEO. [7]

Subsidiaries

Retail and Malls

SM Prime Holdings is the parent company of the SM Group's shopping malls, 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 the 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, becoming 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 or under construction malls. Its largest mall, which at first, is the largest mall for a 15-year period, is the SM Megamall. Alongside is the once-largest mall in the country, SM Mall of Asia and the very first SM mall, SM City North EDSA.

SM Prime operates the following:

Banking
Real estate property
Mining
Hospitality and convention
Gaming

Social involvement

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.[9]

Other subsidiary

See also

References

  1. ↑ "SM Company Profile (from PSE website)". Archived from the original on 2011-02-14.
  2. ↑ HOME - SM Investments Corporation Archived February 14, 2011, at WebCite
  3. ↑ "SM Investments on the Forbes Global 2000 List". Forbes. Retrieved 2017-02-16.
  4. ↑ "The World’s Biggest Public Companies". Forbes. Retrieved 2017-02-16.
  5. ↑ "Sm Energy Co (SM:New York)". Business Week.
  6. ↑ http://www.smprime.com/smprime/?p=508
  7. ↑ Dumlao-Abadilla, Doris. "SM Investments names Sio as new chair, replacing Henry Sy". business.inquirer.net. Retrieved 2017-04-27.
  8. ↑ http://mallofasia-arena.com/index.php/about/about-mall-of-asia-arena
  9. ↑ http://smsupermalls.com/aboutsmcaresletsdoourshare
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