Category: SM

SM as the official partner of Madrid Fusion Manila 2015

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The Philippines and Spain share a deep and colorful history and what better way to celebrate these two cultures than through their vibrant and intertwined culinary traditions. This April, the world’s most anticipated epicurean event will celebrate the two countries ’300 years’ worth of shared connection through food in one global event where the world’s top chefs showcase culinary innovations and cutting-edge techniques, ingredients and recipes taking food and dining to the next level. If one wants to see the “future of food,” this is the place to be in.

SM plays host to this historic affair and welcomes Madrid Fusion as it comes to Asia for the first time and puts Manila at the heart of culinary interest worldwide. Madrid Fusion Manila 2015 happening on April 24 to 26 at the SMX Convention Center in Pasay City highlights the Philippines as an haute cuisine destination in Asia. And a Welcome Night at the scenic SM By the Bay for the official delegates are sure to put everyone in a good mood during the first day of the congress on April 24 where this time, it’s all about the best of Philippine food, art, and culture.

“SM is proud to be the venue of the historic Madrid Fusion Manila. We believe that one of the Philippines’ best-kept secrets is our rich culinary heritage,” expressed Steven Tan, SM Supermalls senior vice-president. “We also want to bring the excitement of Madrid Fusion, particularly Spain’s strong influence in our food and culture, to our mall-goers by taking these culinary festivities to our malls.” To help create national awareness for this cultural milestone, the official Madrid Fusion Manila 2015 TV commercial is being aired in all SM Cinemas nationwide.

Set to captivate Manila with their culinary virtuoso are Spain and Asia’s legendary chefs Andoni Luis Aduriz, Elena Arzak, Quique Dacosta, Ramón Freixa, Francis Paniego, Paco Roncero, Mario Sandoval, Paco Torreblanca, André Chiang, and Alvin Leung. Presenting the Philippines’ own diverse and imaginative epicurean traditions are chefs Fernando Aracama, Margarita Forés, J Gamboa, José Luis “Chele” Gonzalez, Pepe Lopez, Rob Pengson, Bruce Ricketts, Myrna Dizon, Claude Tayag, and Juan Carlos de Terry. Taking centerstage at the congress will be this exciting encounter between Spain’s legendary Michelin-starred chefs and the Philippines’ very own culinary stars. A trade exhibition will focus on the finest Spanish and Filipino products from Spanish wines and cheeses, to the Philippines’ world-class exports such as rice, cacao, coffee, mango, coconut, and liquors.

A feast of everything delectably Filipino-Spanish shall delight foodies at the Gourmet Weekend Market from April 24 to 26 at SM Mall of Asia. A premium selection of cheese, tapas, wine, ingredients, local finds and special bundles shall be made available in partnership with SM Markets (SM Supermarket and Hypermarket).

New food concepts that reflect culinary innovation and technique will be available only this April at select SM Mall of Asia restaurants where special dishes with Spanish influence or cooked with the finest local produce, ingredients and flavors are sure to bring out your inner foodie. Savory goodness awaits mall-goers of SM Aura Premier which shall host its own Spanish-themed fiesta with music, dancing, food and drinks on April 26 at the Sky Park lawn. While on April 24 to 26, irresistible dining deals await all food lovers at SM Megamall’s flagship and first-in-the-country dining destinations and the newly-opened Mega Food Hall.

SM Marks 10th Listing Anniversary, cites Tremendous Growth

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SM Investments Corporation (SM) marked its 10th year as a publicly-listed company in the Philippine Stock Exchange.

SM listed on March 22, 2005 with an adjusted price of PHP 191 per share. As of March 26, SM closed at PHP888 apiece, representing a growth of 365%.

In his remarks during the anniversary ceremony, SM Chief Finance Officer Jose T. Sio said that the company’s growth has been tremendous over the last ten years.

“More compelling is how our operating companies in retail, property and banking have emerged to be market leaders in just ten years. Such leadership is backed by having one of the largest footprints in the country consisting of highly productive assets and delivering superior value, margins and returns. These assets have evolved to cater to more sophisticated lifestyles of our customers by providing a world-class look and feel, a sense of completeness and an exciting experience for every member of the family,” Mr. Sio said.

In 2005, SM had total assets of PHP153 billion and a market capitalization of PHP127 billion. Today, , SM’s assets are worth over PHP711 billion with a market capitalization of PHP732 billion. Its assets grew almost seven -fold, delivering an average annual growth of 21% over the last ten years. Market capitalization grew by 19% during the same period.

Revenues also accelerated in the last ten years for an average growth of 20.6% per annum with net income showing an average growth of 21.4 percent each year.

“Indeed, the story of SM has inspired and surprised many, ourselves included, as we witnessed its phenomenal growth from humble beginnings to what it has become today. SM is a story of leadership, innovation, commitment, focus and a collective effort to advance the great legacy that Mr. Henry Sy, Sr. built,” Mr. Sio further said.

SM Posts 14.4% Growth in Recurring Net Income in 2014

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SM Investments Corporation (SM) reported a record net income in 2014 of PHP28.4 billion. Excluding extraordinary items, recurring net income grew 14.4%.

SM’s underlying earnings growth was mainly driven by BDO Unibank, Inc., which posted a core income growth of 18%. Together with China Banking Corporation, banks accounted for 41% of SM’s consolidated net income in 2014. Property contributed 38% and retail 21%.

The record 2014 consolidated net income of PHP28.4 billion compares with PHP27.4 billion in 2013. These include exceptional items such as trading gains from the group’s banking businesses.

Consolidated revenues grew 9% to PHP275.7 billion in 2014 from PHP253.3 billion in 2013. This was the result of a good retail sales environment which also boosted rental revenues in SM’s property business.

The total assets of SM grew 12% in the past year to PHP711.9 billion. SM maintains a very healthy balance sheet with a conservative gearing ratio of 34% net debt to 66% equity.

SM raised PHP15 billion in May 2014 from a public offer of peso-denominated retail bonds with maturities of 7 and 10 years. The SM bonds were rated Aaa by Philippine Rating Services Corporation, the highest rating assigned by the credit rating firm.

In June 2014, SM issued a USD350 million 10-year senior unsecured bond at a fixed rate of 4.875% per annum, a landmark transaction marking the longest-dated USD bond issued by SM and the company’s fourth USD bond issuance since 2009. The issuance earned SM the Region’s Best Borrower Award from Hong Kong publication Finance Asia.

“The group’s strong underlying earnings growth of 14.4% in 2014 was the result of solid performance and ongoing expansion in all our three core businesses. During the year we raised additional capital and entered into several strong partnerships, accelerating our investments for growth and ensuring we expand in line with our continuing optimism about the economic prospects of the Philippines,” SM President Harley T. Sy said.

SM Cites Property Merger Benefits

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SM Vice Chairperson Teresita Sy-Coson

SM Investments Corporation (SM) highlighted the opportunities in real estate in the Philippines following its recent merger of property assets under mall developer now property conglomerate SM Prime Holdings, Inc. (SM Prime).

In a recent forum by the Fund Managers Association of the Philippines held at the SMX Convention Center in Taguig, SM officials cited the benefits of the landmark merger which was announced in 2013 that transformed SM Prime as one of the Southeast Asia’s largest property companies. SM Prime today has shopping malls, residences, offices, hotel and convention centers and leisure facilities.

 SM Vice Chairperson Teresita Sy-Coson said that the SM Group has been “particularly active” with developments across all its core businesses in banking, retail and property which is indicative of the Philippine economy’s growth story.

“The reason why we merged the residences, malls, hotel, commercial, leisure and other landbank under SM Prime was to create a property company that is strong and well positioned for the future,” Mrs. Coson said.

She added that SM continues to have faith in the growth of the Philippine property sector which is just emerging. “The strength of SM has always been to create and leverage synergies across all businesses and this merger does that for our property units. As a result, we can do larger and more long-term integrated master planned developments and more lifestyle cities,” Mrs. Coson added.

SM Prime Vice President for Finance Teresa Reyes-Agsalud meantime said that as a result of the merger, SM Prime is in a position to pursue its next phase of growth. SM Prime now has access to a significantly larger land bank of over 900 hectares and real estate assets of US$13.8 billion as of the end of December 2013.

“The bigger scale and enhanced capabilities will allow SM Prime to unlock revenue synergies within the group as well as pursue larger and more attractive opportunities in the market,” Agsalud said.

She said that part of the strategy of SM Prime is to develop more “lifestyle cities” similar to the 60-hectare Mall of Asia Complex in Pasay City which will optimize land where premiere malls currently stand.

SM Prime is eyeing to replicate such lifestyle cities in SM Clark in Pampanga where the company already has an existing mall; SM North EDSA; its rising development SM Seaside City in Cebu; and in SM Lanang Premier in Davao.

SM Prime is eyeing building a Park Inn hotel in Clark. SM North EDSA hosts call center operations in its Annex Building and is adjacent to Grass Residences while just across the road, SM Cyber West , which is already 100% pre-leased since last year, is scheduled for completion in 2014. SM Seaside City Cebu, which will open in 2015, sits on a 30-hectare lot and will house a 400,000 square meter mall to be followed by another SM Arena. SM Lanang Premier, which was opened in 2012 is next to Park Inn Hotel and includes an SMX Convention Center.

“We are convinced that by working together as one SM Prime significant value and synergies can be unlocked for all our stakeholders,” she said.

SM SVP for Investor Relations Corazon Guidote also cited the Mall of Asia Complex as a classic example of how commitment, taking a long-term position, proper planning and execution on a development can unlock significant value not just for shareholders but for the whole city of Pasay.

“When I joined SM, there was just the mall in MOA. Now you have the mall, SMX, the MOA Arena, and the offices and residences which are interrelated in terms of operations. These developments enhanced the value of the land in MOA by over 23 times since the late nineties even prior to the property merger,” Guidote said.

She also said that SM sees opportunities for growth in offices and hotels.

“For the offices, we will be increasing momentum through our E-com buildings. Initially the plan was to put up four but now the plan is to come up with five. For the hotels, we will be putting up more Park Inns. Davao is doing very well and it really suits the needs of the market at this time,” Guidote said.

“By holding on long-term and trying to optimize synergies within the group, that’s how we create value for shareholders,” Guidote added.

SM management limits free WiFi access

Bob Freking Leave a comment

Whenever, I’m at an SM Mall, I immediately connect to their free Wi-Fi service to keep my feeds updated all throughout my stay. But just recently when I was at the SM Mall of Asia, I noticed that the Wi-Fi connection on my Nexus 4 was automatically disconnected.

SM

That’s when I saw a notification on my browser stating that I have reached the maximum free WiFi access for the day. After that, I tried connecting on my Nexus 7 – and only just then that I spotted the time limit – 1 hour.

This may come as a bad news to some mall goers, particularly those who just hang out at the mall to leech on the mall’s free internet access. On the other hand, this will benefit the majority of the people as it will result to faster internet connection.

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