SM Vice Chairperson Teresita Sy-Coson honored with the Man of the Year award from the Management Association of the Philippines

SM Vice Chairperson Teresita Sy-Coson honored with the Man of the Year award from the Management Association of the Philippines

 

Pasay City, Philippines, 2016-Dec-13 — /EPR Retail News/ — Ms. Teresita Sy-Coson received this year the prestigious Man of the Year award from the Management Association of the Philippines (MAP), the same great honor bestowed on her father, retail pioneer Henry Sy, Sr. 17 years ago.

Mr. Sy, in his acceptance speech then said that the “day will come when I will look at this MAP award and remember the work it honors”.

Today, that day has come for his eldest child, Mrs. Coson who was cited by MAP for steering SM’s retail business to greater heights; for transforming SM’s property business into one of the largest integrated property developers in Southeast Asia; for her valuable contribution in sustaining BDO’s position as a leading bank; for her leadership in the substantial contributions of SM to national development, job creation and income generation; for strengthening the identity of companies under SM as socially responsible corporate citizens; and for her contribution to reshaping national values through her track record of integrity, professional competence and strong leadership.

The prestigious roster of MAP Man of the year awardees include:  Washington Z. SyCip (1967), Geronimo Z. Velasco (1977), Henry A. Brimo (1978), Jose M. Soriano (1979), Cesar E.A. Virata (1981), Jaime V. Ongpin and Vicente T. Paterno (1982), Dante G. Santos (1983), Cesar A. Buenaventura and Roberto T. Villanueva (1985), Jaime Zobel  de Ayala (1987), Ramon V. del Rosario, Sr. (1988), Jose B. Fernandez, Jr. (1989), Raul T. Concepcion (1990), Oscar J. Hilado (1991), Alfonso T. Yuchengco (1992), Juan B. Santos (1994), David  M. Consunji and Rizalino S. Navarro (1996), Gabriel C. Singson (1998), Delfin L. Lazaro and Henry Sy, Sr. (1999), Oscar M. Lopez (2000), Tony Tan Caktiong (2002), Jesus P. Tambunting (2003),  Rafael B. Buenaventura (2004), Manuel V. Pangilinan (2005), George S. K. Ty and Jaime Augusto Zobel de Ayala (2006), Jose L. Cuisia Jr. (2007), Antonino T. Aquino and Jesus P. Estanislao (2009), Lilia B. de Lima and Ramon R. del Rosario, Jr. (2010), Erramon Aboitiz (2011), Aurelio R. Montinola III (2012), Edgar O. Chua (2013), Albert F. del Rosario (2014) and Amando M. Tetangco, Jr. (2015).

Source: SM Investments Corporation

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Philippines: 2016 Ramon V. Del Rosario (RVR) Award given to Retail pioneer Henry Sy, Sr.

Makati, Philippines, 2016-Aug-01 — /EPR Retail News/ — Retail pioneer Henry Sy, Sr. received the 2016 Ramon V. Del Rosario (RVR) Award for Nation Building.

This award is a project of the Junior Chamber International (JCI) Manila  and the Asian Institute of Management’s Center for Corporate Social Responsibility. Named in honor of JCI’s (formerly Manila Jaycees) founding president, Ramon V. Del Rosario, it recognizes individuals who best exemplify outstanding corporate citizenship and have an underlying passion for nation building. Sy joined JCI Manila in 1958 and became an officer in 1963.

“We are honored to receive this award from JCI Manila and in cooperation with RVR. This award is meaningful to my dad. He always enjoyed his time with Manila Jaycees. It is here where he learned a  lot from other members,” Ms. Teresita Sy-Coson, SM Investments Corporation Vice Chair said in accepting the award on behalf of her father.

Ms. Sy-Coson said that Mr. Sy liked to tell his children that joining the organization made him realize a very important lesson in life.

“If you want to be a leader, you have to make things happen. It was through Jaycees that my father learned more about entrepreneurship, the importance of nation building and of corporate social responsibility which he continues to apply today,” Ms. Sy-Coson said.

Mr. Sy is the founder of SM and is the chairman of holding firm SM Investments Corporation. With roots in retail, Mr. Sy successfully built SM which today is now a dominant conglomerate in the country with interests in banking, property and retail.

In a message, Former Chief Justice Artemio Panganiban and the Chairman of the Board of Judges of the RVR Awards said Mr. Sy exemplifies Ambassador Ramon Del Rosario’s intertwining passions for nation-building and entrepreneurship. “Through sheer hard work, innovative spirit, exemplary leadership and indomitable conviction in the power of example, he rose from very humble beginnings to form and lead the largest Philippine business conglomerate comparable to the very best in the world,” Panganiban said.

“Truly the Board of Judges is honored and pleased to have chosen an icon whose life story proves that the Filipino can compete freely and excel grandly in the world,” he added.

Mr. Ramon del Rosario, Jr., President of the PHINMA Group also said, “As we congratulate Dr. Sy, we also thank him and his family for honoring us by accepting the award.”

For more about SM, click here: http://www.sminvestments.com/

For further information, please contact:
Ms. Corazon P. Guidote
Senior Vice President for Investor Relations
SM Investments Corporation
E-mail: cora.guidote@sminvestments.com
Tel. No. (632) 857-0117

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The Sy family accepted the RVR Award for Nation Building on Tuesday on behalf of Mr. Henry Sy, Sr.; (From left) Mr. Ramon V. Del Rosario, Jr. President and CEO of Phinma Group; Ms. Teresita Sy-Coson, SM Investments Vice Chairperson; Mrs. Felicidad Sy; Mr. Hans Sy, President of SM Prime Holdings and Retired Chief Justice Artemio Panganiban who is also the Chairman of the Board of Judges of the RVR Awards
The Sy family accepted the RVR Award for Nation Building on Tuesday on behalf of Mr. Henry Sy, Sr.; (From left) Mr. Ramon V. Del Rosario, Jr. President and CEO of Phinma Group; Ms. Teresita Sy-Coson, SM Investments Vice Chairperson; Mrs. Felicidad Sy; Mr. Hans Sy, President of SM Prime Holdings and Retired Chief Justice Artemio Panganiban who is also the Chairman of the Board of Judges of the RVR Awards

 

Source: SM Prime Holdings

PHILIPPINES: SM Megamall wins another Shopping Center of the Year award; elevated to PRA’s Hall of Fame

PASAY CITY, PHILIPPINES, 2016-Jun-23 — /EPR Retail News/ — The Philippine Retailers Association (PRA) elevated SM Megamall to the Hall of Fame as the latter won another Shopping Center of the Year award during the 19th Outstanding Filipino Retailers and Shopping Centers of the Year Awards Night. In photo are (L-R): Mr. Adrian Cristobal, Jr. – DTI Secretary, Ms. Annie Garcia – President of SM Supermalls, Mr. Hans Sy – Chairman of SM Prime Holdings Inc., Mr. Steven Tan – SVP for SM Supermalls, Mr. Ian Mathay – AVP for SM Megamall and Samie Lim – PRA Chairman Emeritus

Constant innovation will remain the Philippine retail industry’s significant growth driver in the coming years, according to Philippine Retailers Association (PRA) during its 19th Outstanding Filipino Retailers and Shopping Centers of the Year Awards held recently at the Marriott Hotel in Pasay City.

The retail industry has contributed about 18% of GDP in 2015 alone. PRA Vice Chairman Roberto Claudio cited OFW remittances, BPO earnings, increased consumer spending power, and tourism as key contributors to this development. Tourism, in particular, is projected to attract 12.5M tourists by 2022. This means demand for shopping, leisure and entertainment will increase tremendously.

Claudio said that although the retail industry has been experiencing growth over the last three years, it still has to address the challenge to keep the consumers coming to the stores because of the growing popularity of e-commerce. “We need to go beyond the idea of selling. We have to provide excellent customer experience for them to keep coming back to our stores,” he said.

Claudio gave SM as an example on how to meet the demand because of the company’s continuous investments in shopping, hotel and conventions, events and entertainment. “SM never stopped innovating. It keeps reinventing itself. In retail, you can’t afford to be complacent once you meet your sales targets. Just look at how many times SM innovates, how they keep reinventing their product categories, how they continue training their people,” Claudio said.

PRA Chairman Emeritus Samie Lim believes that SM’s success is driven by SM founder Henry Sy, Sr.’s ability to see beyond selling and marketing. According to Lim, Henry Sy was instrumental in bringing the Asian Retailers Conference and Exhibit to the Philippines in 1993 at the then newly built SM Megamall. There, he remembers seeing Henry Sy, exchanging ideas with, and learning from, the delegates who were some of Asia’s best retailers.

“Henry Sy is a true visionary. He doesn’t see things for what they are, but for what they can become,” Lim said. “That’s how SM became a leader. The company’s tradition of learning from the best retailers around the world continues until today. That’s the spirit of entrepreneurship.”

Today, the tradition is carried on by Hans Sy as president of SM Prime Holdings. “This win is a tribute to the entire team whose hard work has helped build the SM brand in the way it is recognized today,” said Hans Sy about the various awards SM brought home from the PRA. “It is a win that will help keep us on track toward maintaining innovative products and services.”

SM Megamall went home with another Shopping Center of the Year award, which automatically elevates it to PRA’s Hall of Fame. It was also given a special award for Best Retail Architecture awarded by the Southeast Asia Property Awards.

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PRA elevates SM Megamall to Hall of Fame at 19th PRA Awards.
PRA elevates SM Megamall to Hall of Fame at 19th PRA Awards.

 

Source: SM

 

SM Mall of Asia reinvents itself into one of the biggest and most exciting destination malls in the world

Pasay City, Philippines, 2016-May-30 — /EPR Retail News/ — A mall as successful as SM Mall of Asia is entering a new phase, reinventing itself, this time, into one of the biggest and most exciting destination malls in the world.

SM and SM Prime Chairman Henry Sy who once called this mall, the greatest project of his life, had a vision to build one of the largest malls in Asia which will not just be a shopping complex but a premier destination.

Sy’s vision was for shoppers and tourists alike to come together to have a unique leisurely experience. “The mall will be a major Asia Pacific destination,” Sy said at that time.

SM Mall of Asia opened in May 2006 as the flagship development of SM on its 60-hectare reclaimed land along the scenic Manila Bay in Pasay City. The mall introduced the first Olympic-size skating rink and the first IMAX theatre in the country. It also opened the Science Discovery Center now called The Exploreum and a state-of-the-art Bowling Center.

Ten years later, the mall is set to once again revolutionize the Philippines’ concept of a mall.

Steven Tan, Senior Vice President for SM Supermalls recalled that when the design team was going through the redesign process for SM Mall of Asia, SM Prime Holdings President Hans T. Sy wanted it to have the “wow” factor.

“Mr. Hans Sy didn’t just want to expand the mall without giving a reason to the people. He said, if there was going to be an expansion, we have to ensure the success of the mall,” Tan said.

Designed by Miami-based firm Arquitectonica, the enigmatic “wow” would finally come in the form of a FIFA World Cup-size soccer field mounted on the mall’s roofdeck. A botanical garden that blends with a spectacular view of the bay will also be built.

“I’ve seen the perpsectives and the view from up there will be breathtaking. There will be an unobstructed view of the sea and it is beautiful,” Tan said.

With over 700 tenants, SM Mall of Asia is considered one of SM’s most successful malls, enjoying an occupancy of between 98% and 100%. This has prompted the company to do the redevelopment of the mall in phases. The Olympic-size skating rink which will be on the third floor is targeted to be ready by the end of the year. A food hall, dolled up with designer furniture in tune with the mall’s modern look, will also open on the third level.

New brands are also set to come in including Swedish clothing giant H&M which is slated to introduce a 3,000 square meter flagship store that promises to be something unique.

The mall will also have a “warmer” look and feel, according to Tan where the interior will adopt a different color scheme and introduce wooden panels.

The mall also recently unveiled a “solar carpark” which was visited recently by no less than environment advocate and former US Vice President Al Gore. The 2.7 megawatt MOA solar carpark, in partnership with Solar Philippines, is nearly twice the size of the 1.5 MW SM North Edsa Solar Carpark, making it one of the world’s largest on-site solar projects. Comprised of 10,426 solar panels and 40 inverters, it supplies nearly 20% of the mall’s power needs.

To add to the dynamic developments in the 60-hectare MOA complex, Conrad Manila, SM Prime’s deluxe hotel is set to open in June this year with a new retail podium called S’Maison which will house unique concept stores as well as luxury retail stores, fine dining restaurants and state-of-the-art cinemas.

Another latest development, the Manila-Acapulco Galleon Museum is taking shape which will give visitors a unique experience in learning the history of the 250-year old global trade route where the Philippines and Mexico played major roles. The museum will highlight the galleon trade’s impact on today’s commerce, banking, travel, and cultural exchange. The dome will showcase the actual process of building a galleon, while exhibiting relics such as porcelain, gold, and other goods that were traded in the Spanish era.

With such new and exciting additions, MOA will add about 250,000 square meters to its floorplate, spanning a total of over 650,000 square meters which will count as one of the largest in the world, a fitting milestone to a mall that has touched the lives of millions in the last 10 years.

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Architect’s perspective and aerial view of the expanded SM Mall of Asia (Photo courtesy of SM Supermalls)

Architect’s perspective and aerial view of the expanded SM Mall of Asia (Photo courtesy of SM Supermalls)

SM Investments Corporation wins double at the 8th Annual Global Corporate Social Responsibility (CSR) Summit and Awards

Pasay City, Philippines, 2016-May-05 — /EPR Retail News/ — SM Investments Corporation (SM) won two awards at the 8th Annual Global Corporate Social Responsibility (CSR) Summit and Awards held in Indonesia.

SM bagged a silver award for Best Corporate Communications & Investor Relations and a bronze award as Best Governed & Most Transparent Company.

In addition to receiving the award, Ms. Guidote was a panel speaker in a discussion on “Community Transformation Challenge 2016 and Beyond—From Poverty Alleviation to Viable & Sustainable Communities”.

Started eight years ago, the Global CSR Summit & Awards is a prestigious international award event which aims to raise awareness on CSR-related issues. It also recognizes outstanding individuals and companies around the world for their contributions in environment preservation, community transformation and poverty alleviation, women’s rights and welfare, workplace practices and product innovations in CSR.

About SM Investments Corporation
SM Investments Corporation, founded by entrepreneur Henry Sy, Sr., is one of the country’s largest publicly listed companies with a sustainable group of businesses that thrives on synergies of its banking, property and retail operations. SM has grown into one of the most highly respected companies in the country owing to its progressive approach in business and its comprehensive sustainability programs for its host communities through SM Foundation and SM Cares.

SM’s retail operations enjoy a strong brand franchise consisting of non-food under THE SM STORE and food under SM Markets comprising of SM Supermarket, SM Hypermarket, and Savemore and other food retail stores under Waltermart and Alfamart. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc. (BDO), the country’s largest bank and China Banking Corporation (China Bank), the seventh largest bank.

For more about SM, click here: www.sminvestments.com

for further information, please contact:

Ms. Corazon P. Guidote
Senior Vice President for Investor Relations
SM Investments Corporation
E-mail: cora.guidote@sminvestments.com
Tel. No. (632) 857-0117

Source: SM

SM Investments Corporation records 12% growth in recurring net income in the first quarter of 2016

Pasay City, Philippines, 2016-May-04 — /EPR Retail News/ — SM Investments Corporation (SM) posted a 12% growth in recurring net income in the first quarter of 2016. Consolidated net income (including non-recurring items) stood at PHP 7.0 billion for the January to March period, up 3.6% from PHP 6.7 billion in the same period last year. Consolidated revenues grew 7% to PHP 69.8 billion for the first quarter.

“We are pleased with SM’s strong underlying growth in the first quarter as consumer spending continued to be vibrant and sentiment about the Philippine economy remains strong. Our continuing efforts to improve efficiency in all our businesses have also helped ensure solid earnings growth,” SM President  said.
For the first quarter, property accounted for 43% of SM’s consolidated net income, followed by banks at 36% and retail at 21%.

Retail
Retail operations under SM Retail Inc., which consist of both food (SM Markets) and non-food (THE SM STORE), reported sustained growth in total sales of 8% to PHP 48.8 billion in the first quarter, while net income rose 16% to PHP 1.5 billion.

SM’s food retail business continued to expand, adding five new stores. At end-March, SM Retail had a total of 314 stores comprising 53 THE SM STOREs, 45 SM Supermarkets, 44 SM Hypermarkets, 140 Savemore and 32 WalterMart stores.

Following their acquisition last year and recent modernization, two Cherry Foodarama grocery stores are now fully operational inside SM Cherry malls in Shaw and Congressional Avenue.

SM earlier announced the merger of SM Retail with a group of specialty retail stores such as Ace Hardware, SM Appliance Center, Homeworld, Our Home, Toy Kingdom, Watsons, Kultura, Baby Company and Sports Central. The combined entity will have over 1,900 outlets and 2.4 million sqm of gross floor area.

Banking
For the first quarter of 2016, BDO Unibank posted a net income of P 5.5 billion as core lending, deposit-taking and fee-generating businesses delivered solid numbers. Net Interest Income grew by 17% to P 15.5 billion, supported by the 15% jump in customer loans to PHP 1.3 trillion and a 14% growth in deposits to PHP 1.7 trillion.

Property
SM Prime Holdings, Inc. (SM Prime) reported a recurring net income growth of 12% in the first quarter to PHP 5.8 billion. Consolidated revenues rose 10% to PHP 18.2 billion.

Rental revenues from malls and commercial spaces, which accounted for 59% of the total, grew 14% to PHP 10.8 billion.  On the other hand, total mall revenues rose 11% to PHP 11.0 billion from PHP 9.9 billion in the previous year. Excluding the new malls and expansions, same-store growth averaged 7%. Total revenues from the commercial group registered a 16% growth in revenues to PHP 887.2 million.

SM Prime’s residential group, which accounted for 32% of total revenues, recorded higher revenues by 5% to PHP 5.8 billion in the period largely on higher construction accomplishments of SM Development Corporation (SMDC) projects launched in 2013 to 2015.
The hotels and convention centers business grew by 22% in the first quarter of 2016 to PHP 617.2 million in terms of revenues.

Balance Sheet
As of end-March, total assets of SM grew 6% to PHP 760.5 billion. SM maintains a healthy balance sheet with a conservative gearing ratio of 36% net debt to 64% equity.

About SM Investments Corporation
SM Investments Corporation, founded by entrepreneur Henry Sy, Sr., is one of the country’s largest publicly listed companies with a sustainable group of businesses that thrives on synergies of its banking, property and retail operations. SM has grown into one of the most highly respected companies in the country owing to its progressive approach in business and its comprehensive sustainability programs for its host communities through SM Foundation and SM Cares.

SM’s retail operations enjoy a strong brand franchise consisting of non-food under THE SM STORE and food under SM Markets comprising of SM Supermarket, SM Hypermarket, and Savemore and other food retail stores under Waltermart and Alfamart. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc. (BDO), the country’s largest bank and China Banking Corporation (China Bank),  the seventh largest bank.

For more about SM, click here: www.sminvestments.com

Contact:

Ms. Corazon P. Guidote
Senior Vice President for Investor Relations
SM Investments Corporation
E-mail: cora.guidote@sminvestments.com
Tel. No. (632) 857-0117

Source: SM

Philippines: SM celebrates 30th anniversary of SM City North EDSA mall

Pasay City, Philippines, 2015-12-15 — /EPR Retail News/ — SM City North EDSA, one of the most iconic shopping malls in the country, has been an epitome of how SM malls have transformed to meet the shifting needs and demands of consumers in a dynamic Philippine retail environment.

From a footprint of only 125,000 square meters on opening in 1985, SM’s very first mall has grown in size to almost 498,000 square meters, housing more stores, concepts and ideas in keeping with today’s consumer trends and preferences.

Speaking before SM’s retail partners during the 30th anniversary of SM Supermalls last October, SM Prime Holdings President Hans T. Sy said that the retail landscape in the last thirty years “has become more global and competitive where technology has forever changed the way we live and do things.”

Opened in November 1985,  SM City North EDSA is SM Founder Henry Sy’s first shopping mall and now the largest in the Philippines.

“Ever the visionary, my father thought of building malls when he saw the shopping center development in the US during his business trips abroad in the 1950s and 1960s. That was the time when ‘burbs’ or suburbs were being built in the outskirts of big cities with a shopping mall as the center. He saw this development from the east to the west coast and knew this would happen in the Philippines,” Sy said.

SM North EDSA was completed by Henry Sy, Sr. amidst one of the most turbulent times in Philippine history.  Sy recounted that when his father started building SM City North EDSA in 1983, people thought it was a crazy idea as it happened during a political crisis where interest rates rocketed to as high as 45%. More so, the location of the mall was right smack in the middle of a marshland on North EDSA.

“They said that SM City would not succeed, but the mall was an instant success. And the rest they say is history,” Sy told retail partners.

Creating shared value

SM City North EDSA proved to be highly successful and transformative for its host communities.  With new business opportunities, the mall hastened economic activity and infrastructure development to and from Manila and nearby provinces as it was touted as an important regional destination.

Proof of its impact, the value of property in the area showed exceptional growth. Data from the Bureau of Internal Revenue show that from an initial zonal value of Php2,500 per square meter in 1990, land values around the mall soared to Php40,000 per square meter in 2000. It also opened employment opportunities, both direct and indirect, generating approximately over 6,000 jobs from SM, its agencies and tenants. Since its opening, it has consistently been one of the top tax payers in the Quezon City.

Business sustainability is also at the forefront of the mall’s operations throughout the years where its environmental programs can be summed up into three main areas:  (1) awareness (2) conservation and preservation and (3) disaster risk reduction.

For its awareness programs, SM Prime invites its tenants to learn more about environmental conservation and preservation by holding its annual Green Retail Agenda. SM City North EDSA shuts off its lights to participate in EARTH HOUR, the world largest celebration to raise awareness on environmental issues.

Through its energy conservation efforts, SM currently is the selected location for the 1.5 megawatts of solar energy through its 5,760 solar panels which offset 1,200 CO2 which is equivalent to planting 6,000 trees a year. The mall also uses LEDs for lighting.

Along with other SM malls, it also implements a water conservation program which recycles about 30% of total consumed water. The recycled water is used for the malls’ cooling towers, toilet flushing and grounds keeping.

It also participates in the Tenant Solid Waste Management Program which requires all tenants to segregate their waste. Through the “Trash to Cash” program, the mall invites its customers to bring their trash to the mall and exchange it to cash.

During times of calamity, SM City North EDSA partners with SM Foundation in distributing relief packs and opening its doors to serve as a safe refuge for affected families in the area.

The mall’s high visibility and foot traffic was also instrumental in the success of its tenants who have, in turn, been loyal partners of SM as it continues to expand in the country.

“Some of you helped us make malling a phenomenon when we built SM Megamall in 1991. Many of you grew with us as we experienced malling milestones: our foray into the provincial areas when we opened SM City Cebu which was followed by an aggressive expansion program to key cities around the Philippines. You were with us when we sought to make the SM Mall of Asia the premier destination mall in the region and when we ventured into more upscale projects like SM Aura Premier and the Mega Fashion Hall,” Sy told retail partners.

A dynamic mall

From its original shoe-box design, SM City North EDSA evolved to become the country’s largest mall that draws an average foot traffic of 420,000 shoppers a day.

Through the years, the mall has gone through several redevelopments which began with the Car Park Plaza in 1988, the SM Annex in 1989, the Block in 2006, The Annex and Interior Zone in 2008, the Sky Garden in 2009 and The Northlink in 2010.

Complementing these developments, SM built new spaces for various concepts such as for business process outsourcing (BPO) companies and other private offices. One is The North Link, a six-story building and The SM Cyber West Avenue, a fifteen-story building which will be linked via bridge way to the SM City North EDSA mall and the nearby MRT station. Complementing the integrated approach is Grass Residences, a five-tower residential condominium building which stands on a five-hectare property within the SM City North EDSA Complex.

Even today, Sy said that SM City North EDSA will continue to grow “like a vibrant city as it adds more office spaces and a hospitality complex, a unique combination of high end retail, dining and green spaces, highlighted by a series of five cascading office towers connected by pedestrian sky bridges.

With SM City North EDSA as the flagship, SM continues to build malls and lifestyle cities, at a rate of four to five malls a year. Its recent lifestyle city development, SM Seaside City in Cebu, fashioned after SM Mall of Asia, promises to bring the shopping, dining, entertainment, working and the living experience to a whole new level in the Southern Philippine region.

“We have changed the Filipino lifestyle forever. Our malls are indeed as they are called—cities, places where families and friends gather together to shop, eat out, have fun, and even do their business transactions and hear Mass. We have become part of the lives of millions of Filipinos,” Sy said.

SOURCE: SM Investments Corporation

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Philippines: SM celebrates 30th anniversary of SM City North EDSA mall

Philippines: SM celebrates 30th anniversary of SM City North EDSA mall

SM Investments Corporation Chairman Henry Sy, Sr. awarded a Lifetime Achievement Award by CNBC at the St Regis hotel in Singapore

Pasay City, Philippines, 2014-11-12— /EPR Retail News/ — Henry Sy, Sr., Chairman of SM Investments Corporation (SM) and founder of the 56-year old company was awarded by top CNBC officials a prestigious Lifetime Achievement Award at a well-attended ceremony at the St Regis hotel in Singapore.

Known as the Father of Philippine Retail, Sy successfully built SM into the industry’s most dominant player in the country by adopting a highly progressive and innovative approach in expanding the retail business. With his vision, passion and hard work, Sy transformed his company, Shoemart, from a humble shoe retailing business, into SM, now a highly recognizable brand and icon owned by one of the Philippines’ largest conglomerates with interests and presence in retail, banking, and property.

SM Vice Chairperson Teresita Sy-Coson who received the award on behalf of her father said, “We are very happy that our father was recognized beyond the Philippines. What makes him happy, makes us also very happy. On behalf of my father and the rest of the family, thank you for this award.”

CNBC pioneered the Asia Business Leaders Awards (ABLA) in 2001 to recognize regional business leaders for their commitment to excellence, and to develop best practices and innovative strategies. ABLA distinguishes and honors leaders who have contributed and shaped the Asian economy, and are visionaries behind today’s outstanding businesses.

Winners of the Awards exemplify the best in leadership. They epitomize the core values of a successful leader which include: strength, innovation, ingenuity, knowledge and foresight – values that are believed to be imperative to carve out sustainable and successful businesses in the global economy.

Past winners of CNBC’s prestigious awards include Ratan Tata of India’s Tata Sons & Tata Trusts, Khun Dhanin Chearavanont, Chairman & CEO of Thailand’s C P Group, N R Narayana Murthy, Chairman of India’s Infosys and Gordon Wu, Chairman of Hong Kong’s Hopewell Holdings.

The corporate winners are judged by an independent panel comprising CNBC’s knowledge partner, The University of Chicago Booth School of Business, our research partner Development Dimensions International and CNBC management.

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About SM Investments Corporation
SM Investments Corporation (SM) is one of the leading conglomerates in the Philippines with highly synergistic businesses in retail, banking and property development. SM has evolved into one of the highly respected companies in the country owing to its progressive approach in business and its comprehensive sustainability programs for its host communities through SM Foundation and SM Cares.

SM’s retail operations enjoy a strong brand franchise consisting of The SM Store and its food retail chains namely SM Supermarket, SM Hypermarket, Savemore and WalterMart stores. SM’s property arm, SM Prime Holdings, Inc. is among the largest integrated property developers in the Philippines with interests in mall, residential, commercial and tourism development. SM’s interests in banking are in BDO Unibank, Inc. (BDO), the country’s largest and in China Banking Corporation (China Bank), the fifth largest. Combined, these two banks have a network of over 1,000 branches nationwide.

For further information, please contact:

Elizabeth S. Lacson
SM Investments Corporation
E-mail: elizabeth.lacson@sminvestments.com
www.sminvestments.com

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SM Vice Chairperson Teresita Sy-Coson receives the Lifetime Achievement award  from CNBC on behalf of her father, Henry Sy, Sr.

SM Vice Chairperson Teresita Sy-Coson receives the Lifetime Achievement award from CNBC on behalf of her father, Henry Sy, Sr.