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PHILIPPINES: SM Prime Holdings to open its newest mall in Bulacan on Friday, December 1

PHILIPPINES: SM Prime Holdings to open its newest mall in Bulacan on Friday, December 1

 

Pasay City, Philippines, 2017-Dec-01 — /EPR Retail News/ — SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, continues to expand in Northern Luzon as it sets to open its newest mall in Bulacan, SM Center Pulilan, this Friday, December 1. Serving as the company’s 66th mall in the Philippines, this latest mall-destination will add 27,000 square meters (sqm) in gross floor area (GFA) bringing SM Prime’s total GFA to 8.0 million sqm in the country.

Opening with 80% of space lease-awarded, SM Center Pulilan will have three-level retail and dining floors including some of the well-loved SM brands such as SM Hypermarket, Watsons, Ace Hardware, SM Appliance, Simply Shoes, Miniso, Surplus and BDO.

“The opening of SM Center Pulilan is our follow-through to the success of our first three malls in Bulacan – SM City Marilao, SM City Baliwag and SM City San Jose Del Monte. The notable development and growth of this province gives us more reasons to keep on expanding in Bulacan while continuously providing utmost malling experience and convenience to more Bulaceños,” SM Prime President Jeffrey C. Lim said.

SM Center Pulilan, which is situated along Plaridel-Pulilan Diversion Road, will boast with invigorating colors and style that cater to the flourishing lifestyle of the locals and progressing economy of Bulacan.
This year, SM Prime has already launched five new malls namely SM CDO Downtown Premier in Cagayan de Oro, S Maison at Conrad Manila in Pasay City, SM Cherry Antipolo in Rizal, SM City Puerto Princesa in Palawan and SM Center Tuguegarao Downtown in Cagayan.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

For further information, please contact:

Alexander Pomento
Vice President, Investor Relations
SM Prime Holdings, Inc.
E-mail: alex.pomento@smprime.com
Tel. no.: +632 862 7940

Source: SM Prime Holdings, Inc.

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PHILIPPINES: SM reported consolidated net income rose 8% to PHP23.8 billion for the first nine months of 2017

Pasay City, Philippines, 2017-Nov-09 — /EPR Retail News/ — SM Investments Corporation (SM) reported consolidated net income rose 8% to PHP23.8 billion for the first nine months of the year. Recurring net income, net of one-time items, climbed 13%. Consolidated revenues likewise grew 8% to PHP272.2 billion for the period from PHP252.7 billion in the same period last year.

“Our solid third quarter results benefitted from vibrant growth in our property and retail businesses. Property earnings were driven by nationwide mall expansion and the strong performance of residential developments. Retail also gained from footprint expansion and robust consumer sentiment, particularly in specialty retailing. We remain confident that our growth plans are on track,” SM President Frederic DyBuncio said.

For the first nine months, property accounted for 40% of consolidated earnings, banks at 38% and retail 22%.

Retail

Retail operations under SM Retail Inc. reported growth in total sales of 6% to PHP197.9 billion while net income rose 10% to PHP7.7 billion. Revenues from Specialty Retail grew 9%.

THE SM STORE opened two stores in Cagayan de Oro and in Puerto Princesa during the nine-month period. Total gross selling areas of all 59 department stores stood at over 750,000 square meters.

The Food Retail Group continued its aggressive expansion adding 21 mid-sized format Savemore stores, three SM Supermarkets and two WalterMart stores for a total of 26 new stores year to date. Most of these new stores were located in communities outside Metro Manila. Meanwhile, Alfamart increased its number of stores to 320 as of end-September from 210 at the start of the year.

Specialty Retail added 68 new stores during the nine-month period.

Property

SM Prime Holdings, Inc. (SM Prime) reported net income expanded by 15% in the first nine months of the year to PHP20.0 billion driven by additional rental revenues from mall expansions, consistent growth in same-mall-sales and higher contribution from residential sales. Consolidated revenues likewise rose 12% to PHP64.7 billion.

Mall revenues rose 10% to PHP38.6 billion. Mall rentals increased 10% to PHP32.8 billion due to expansions and new malls that opened in 2016 and 2017 while same-mall-sales sustained its 7% growth.

Consolidated revenues of SM Prime’s residential group, which includes SM Development Corp. (SMDC), expanded by 10% to PHP20.5 billion due to increase in sales take-up of ready-for-occupancy (RFO) units and construction accomplishments of SMDC. Reservation sales surged 18% to PHP42.1 billion in sales value in the first nine months.

The rest of SM Prime’s businesses which includes offices, hotels and convention centers registered revenue growth of 39% to PHP5.8 billion.

Banking

BDO Unibank earned PHP20.4 billion, up 5%, on sustained growth in its core lending, deposit-taking and fee-based businesses. Net interest income grew by 23% to PHP59.8 billion, supported by 18% growth in customer loan portfolio to PHP1.7 trillion and 15% growth in deposits to PHP2.1 trillion. Fee-based income was up 30% to PHP20.8 billion.

Balance Sheet

As of end-September 2017, total assets of SM grew 16% year-on-year to PHP942.4 billion. SM maintains a healthy balance sheet with a conservative gearing ratio of 43% net debt to 57% equity.

About SM Investments Corporation
SM Investments Corporation is a leading Philippine company that is invested in market leading businesses in retail, banking and property. It also invests in ventures that can capture high growth opportunities in the emerging Philippine economy. It looks for market leaders or those with potential to become leaders in their chosen sectors that offer synergies and attractive returns and cashflows.

SM’s retail operations are the country’s largest and most diversified with its food, non-food and specialty retail stores. 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 7th largest bank.

For more about SM, visit www.sminvestments.com

For further inquiries, please contact:
Mr. Tim Daniels
Investor Relations
SM Investments Corporation
E-mail: tim.daniels@sminvestments.com
Tel. No. (632) 857-1039

Source: SM Investments Corporation

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PHILIPPINES: SM Prime Holdings recorded a 16% net income growth in the Q3 2017 to PHP5.66 billion

Pasay City, Philippines, 2017-Nov-06 — /EPR Retail News/ — SM Prime Holdings, Inc. (SM Prime), the Philippines’ leading integrated property company recorded a 16% net income growth in the third quarter of the year to PHP5.66 billion from PHP4.86 billion in the same period last year. This led to a 15% increase in net income in the first nine months of 2017 to PHP20.05 billion from PHP17.45 billion of last year. SM Prime’s consolidated revenue posted a 12% increase to PHP64.69 billion from PHP57.78 billion, while overall operating income grew by 16% to PHP30.14 billion from PHP25.87 billion in the same period under review. The growth was due to additional rental revenues from mall expansions, consistent improvement in same-mall-sales and higher contribution from residential sales.

“SM Prime’s performance in the third quarter is a testament to the buoyant overall economy that benefits the whole property market. The timely expansion of our malls and launches of our residential projects in the provinces are positively contributing to the strong performance of our Company. Given all these, we remain optimistic that we are on track to meet our growth target this year,” SM Prime President Jeffrey C. Lim said.

Mall Operations
In the first nine months of 2017, mall revenues posted a 10% growth to PHP38.58 billion from PHP35.07 billion last year. The malls operation contributed 60% of the consolidated revenues. Mall rentals went up by 10% to PHP32.83 billion from PHP29.74 billion, primarily due to the expansions and new malls that opened in 2016 and 2017; while the same-mall-sales sustained its 7% growth. Cinema and event ticket sales slightly dropped by 3% to PHP3.34 billion from PHP3.44 billion due to fewer blockbuster movies; whereas revenues from amusement and merchandise sales surged by 26% to PHP2.40 billion from PHP1.90 billion in the same period being reviewed. The consolidated mall operating income improved by 12% to PHP21.38 billion from PHP19.14 billion and operating margin was maintained at 55% in the same period.

Currently, SM Prime has 65 shopping malls in the Philippines and seven in China with a GFA of 8.0 million sqm and 1.3 million sqm, respectively. The company will open two new malls before the year-ends, namely SM Center Lemery in Batangas and SM Center Pulilan in Bulacan, which will bring our provincial malls to 44 from 38 in 2016.

Residential Development
Residential group’s revenues, which accounts for 32% of the consolidated revenues, expanded by 10% to PHP20.50 billion from PHP18.66 billion. The increase in sales take-up of ready-for-occupancy (RFO) units and construction accomplishments of SM Development Corporation (SMDC) drove the revenues higher. These revenues mostly came from Shore 2 Residences in Pasay City, Air Residences in Makati City, Fame Residences in Mandaluyong City, Trees Residences in Quezon City, Grass Residences in Quezon City and S Residences in Pasay City. Consolidated costs of real estate grew by 7% to PHP10.31 billion from PHP9.63 billion due to higher recognized real estate sales, while operating income grew by 20% to PHP6.17 billion from PHP5.13 billion.

Reservation sales increased by 18% to PHP42.08 billion from PHP35.52 billion, while unit sales increased by 3% bringing it to 12,963 units from 12,579 units in the same period under review.

Other Businesses
The rest of SM Prime’s businesses, which account for 8% of the consolidated revenues, registered revenue growth of 39% to PHP5.76 billion in the first nine months of the year from PHP4.13 billion last year. Operating income increased by 45% to PHP2.71 billion from PHP1.87 billion, while operating income margin improved by 47% from 45% in the same period being reviewed. The growth came from rental revenues of FiveE-comCenter and Conrad Manila, which are launched in November 2015 and June 2016, respectively.

To date, SM Prime has six office buildings with a combined GFA of 383,000 sqm. ThreeE-Com and FourE-Com Centers in the Mall of Asia Complex are expected to add an estimated GFA of 320,000 sqm in the Company’s office portfolio once completed in 2018 and 2020, respectively. SM Prime has six hotels with over 1,500 rooms, four convention centers and three trade halls in its portfolio.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

For further information, please contact: 

Alexander Pomento
Vice President, Investor Relations
SM Prime Holdings, Inc.
E-mail: alex.pomento@smprime.com
Tel. no.: +632 862 7940

Source: SM Prime Holdings, Inc.

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PHILIPPINES: SM Prime Holdings open its newest mall, SM Center Tuguegarao Downtown, on Thursday, October 12

PHILIPPINES: SM Prime Holdings open its newest mall, SM Center Tuguegarao Downtown, on Thursday, October 12

 

Pasay City, Philippines, 2017-Oct-11 — /EPR Retail News/ — SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, will open its newest mall, SM Center Tuguegarao Downtown, on Thursday, October 12. This first SM mall in the Cagayan Province will serve as the company’s 65th mall in the country and will provide an additional 37,000 square meters (sqm) in gross floor area (GFA) to its portfolio bringing the total GFA to 8.0 million sqm in the Philippines.

Strategically located at the corner of Luna and Mabini Streets, which are main thoroughfares in this major urban city in the north, SM Center Tuguegarao Downtown is set to open with 90% of its space lease-awarded to a number of favored household brands. Among the names that will take up this new mall are SM Hypermarket, ACE Hardware, Surplus, Watsons, Miniso, Simply Shoes and BDO.

“The opening of SM Center Tuguegarao Downtown will provide SM Prime a sturdier foothold in the northeastern part of the Philippines, along with our other mall in the region, SM City Cauayan in Isabela. We are very excited on how this new mall will give a unique shopping experience to this urbanized city in northern Luzon and how it will contribute further to the development of the Cagayan Valley Region ,” SM Prime President Jeffrey C. Lim said.

SM Center Tuguegarao Downtown is set to add a visual feast to the locals’ eyes given its distinct yet familiar SM mall structure and renowned enjoyable and convenient malling experience.

This year, SM Prime has already launched SM City Puerto Princesa in Palawan, SM CDO Downtown Premier in Cagayan de Oro, S Maison at Conrad Manila in Pasay City and SM Cherry Antipolo in Rizal.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

For further information, please contact:
Alexander Pomento
Vice President, Investor Relations
SM Prime Holdings, Inc.
E-mail: alex.pomento@smprime.com
Tel. no.: +632 862 7940

Source: SM Prime Holdings, Inc.

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PHILIPPINES: SM opens new mall SM City Puerto Princesa in Palawan

PHILIPPINES: SM opens new mall SM City Puerto Princesa in Palawan

 

Pasay City, Philippines, 2017-Oct-11 — /EPR Retail News/ — With the opening of SM City Puerto Princesa in Palawan on September 15, SM has further expanded its retail footprint nationwide.

Determined to bring its mark of providing an exciting retail experience to as many Filipinos, SM launched its anchor retail brands in Puerto Princesa, one of the country’s main tourist destinations and voted as one of the best islands in the world by travel magazine Travel + Leisure. These included THE SM STORE, SM Supermarket and SM Appliance Center; as well as specialty brands Ace Hardware and Watsons with a combined floor area of over 15,000 square meters.

“SM’s maiden property and retail ventures in Palawan open opportunities for us to cater to an underserved tourist market. Under the government’s expansionary strategy, there is increased focus on regional development. This supports our overall strategy to further expand and cover as many provinces in the country to provide access to the best retail options to consumers,” SM Investments Corp. President Frederic DyBuncio said.

The additional retail brands add to SM Retail’s total of 2,357 as at end-June 2017. This comprises 58 THE SM STORES, 1,709 specialty stores, 50 SM Supermarkets, 44 SM Hypermarkets, 170 Savemore stores, 41 WalterMart stores and 285 Alfamart stores as of the given period.

“SM’s diversified retail business allows greater synergies with SM Prime’s own diverse product offerings and integrated developments. SM Retail is given room to further gain a foothold in the regions and further expand with each property expansion,” Corazon Guidote, SVP for Investor Relations at SM said.

Aside from its anchor and specialty retail brands, other SM-related brands that located in SM City Puerto Princesa are variety store chain Miniso, BDO, SM Cinema and Director’s Club and logistics company, 2GO as well as BDO.

SM Retail continues to expand across the country. For one, the food retail group under SM Markets plus WalterMart pursued its expansion both in urban and rural communities. For the SM STORE, it opened SM CDO Downtown in Cagayan de Oro this year aside from SM City Puerto Princesa. As of the first half, the total gross selling area of all 58 department stores stood at 760,000 square meters.

Revenues from SM Retail’s specialty retail stores grew 8% to PHP31.6 billion in the first half of 2017.  Specialty retail brands include Ace Hardware, SM Appliance Center, Homeworld, Our Home, Toy Kingdom, Watsons, Kultura, Baby Company, Sports Central, Forever 21 and Body Shop which continue to expand nationwide.

About SM Investments Corporation

SM Investments Corporation is a leading Philippine company that is invested in market leading businesses in retail, banking and property. It also invests in ventures that can capture high growth opportunities in the emerging Philippine economy. It looks for market leaders or those with potential to become leaders in their chosen sectors that offer synergies and attractive returns and cashflows.

SM’s retail operations are the country’s largest and most diversified with its food, non-food and specialty retail stores. 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 7th largest bank.

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

For further inquiries, 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 Investments Corporation

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PHILIPPINES: SM Prime Holdings opens its first premier mall in Palawan — SM City Puerto Princesa

PHILIPPINES: SM Prime Holdings opens its first premier mall in Palawan — SM City Puerto Princesa

Pasay City, Philippines, 2017-Sep-15 — /EPR Retail News/ — SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, continues to expand in the provincial cities of the Philippines as it opens its first premier mall in the largest province in the country, SM City Puerto Princesa in Palawan, on September 15, Friday. This new mall will add 54,000 square meters (sqm) in gross floor area (GFA), bringing the company’s total retail space in the Philippines to 7.9 million sqm.

Built in one of the fastest growing cities in the country, SM City Puerto Princesa is strategically located at the heart of Puerto Princesa City. Its unique identity topped with lush landscaping is positioned to conform to its resort-style complex.

“We take pride in opening the 64th mall of SM Prime in one of the most sought-after island destinations in the world. We expect SM City Puerto Princesa to add new dynamics and opportunities to the thriving province of Palawan highlighted by SM’s pursuit of new and unique malling experience,” SM Prime President Jeffrey C. Lim said.

Set to open with 80% of space lease-awarded, SM City Puerto Princesa will have three-level retail and dining floors that will house around 180 favored food and retail shops including The SM Store, SM Supermarket, BDO, Sports Central, Surplus Shop, Cyberzone, Watsons, SM Appliance, Ace Hardware, a traveler’s lounge and other homegrown brands.

Aside from that, Palaweño moviegoers will now have a more satisfying and exciting cinema experience with SM City Puerto Princesa’s three 158-seater SM Digital Cinema, and two 48-seater Director’s Club Cinema.

Designed to complement the tropical vibe of the island, SM City Puerto Princesa is set to be a cost-efficient and energy saving building, in line with SM Prime’s commitment on sustainable future and disaster risk reduction.

This year, SM Prime has already launched SM CDO Downtown Premier in Cagayan de Oro, S Maison at Conrad Manila in Pasay City and SM Cherry Antipolo in Rizal; and still scheduled to open is SM Center Tuguegarao Downtown in Cagayan Valley.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

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For further information, please contact:

Alexander Pomento
Vice President, Investor Relations
SM Prime Holdings, Inc.
Tel. no.: +632 862 7940
SOURCE: SM Investments Corporation
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PHILIPPINES: SM H1 2017 results: income grew 9% to PHP16.6 billion

Pasay City, Philippines, 2017-Aug-09 — /EPR Retail News/ — SM Investments Corporation (SM) said reported income grew 9% to PHP16.6 billion. Excluding one-time items in 2016, recurring income increased 16% in the first six months.

Consolidated revenues rose 7% to PHP181.6 billion in the first half from PHP169.7 billion in the same period last year.

“Even without the benefits of an election year, we saw sustained growth across all our core businesses, driven by the strong economy and resilient consumer sentiment. SM will continue to capture this momentum through nationwide expansion and by investing in high growth opportunities,” SM President Frederic DyBuncio said.

The property business contributed the most to consolidated net income at 42%. This was followed by banks with 36% and retail with 22%.

Outside of the core businesses, SM continues to build its portfolio of investments in complementary businesses that will help capture the high growth of the Philippine economy. Among its equity investments portfolio, Belle Corporation benefited from increased growth in the tourism sector, reporting consolidated net income growth of 93% to PHP1.8 billion.

Retail

SM Retail reported sustained growth in total sales of 6% to PHP131.6 billion, while net income rose 6% to PHP5.2 billion.

Net margin stood at 4.4%. At end-June 2017, SM Retail had a total of 2,357 stores, comprising 58 THE SM STORES, 1,709 specialty stores, 50 SM Supermarkets, 44 SM Hypermarkets, 170 Savemore stores, 41 WalterMart stores and 285 Alfamart stores.

The Food Retail Group pursued its aggressive expansion in both urban and rural communities nationwide, adding 15 mid-sized format Savemore stores, two SM Supermarkets and two WalterMart stores. Meanwhile, Alfamart increased its number of stores by 75 as of end-June from 210 at the start of the year.

THE SM STORE opened one store in SM CDO Downtown in Cagayan de Oro in May 2017. As of the first half, the total gross selling area of all 58 department stores stood at 760,000 square meters.

Revenues from SM Retail’s specialty retail stores grew 8% to PHP31.6 billion. Specialty retail brands include Ace Hardware, SM Appliance Center, Homeworld, Our Home, Toy Kingdom, Watsons, Kultura, Baby Company, Sports Central, Forever 21 and Body Shop.

Property

SM Prime Holdings reported consolidated net income of PHP14.4 billion, up 14%. Consolidated revenues increased 10% to PHP43.2 billion from PHP39.2 billion in the same period last year.

Mall revenues, which consist of rentals, cinema and event ticket sales and amusement revenues, accounted for 60% of total revenues and rose 10% to PHP25.7 billion in 2017. Mall rental revenues alone grew 10% to PHP21.8 billion from additional retail space of 1.1 million square meters of gross floor area added since 2015.

During the first half of 2017, SM Prime opened SM CDO Downtown Premier in Cagayan de Oro, S Maison at Conrad Manila in Pasay City and SM Cherry in Antipolo, Rizal, bringing total Philippine operating malls to 63 with a GFA of almost 7.8 million sqm. Including the seven malls in China, SM Prime has a total GFA of 9.1 million sqm.

SM Prime’s residential group recorded 5% higher revenues of PHP13.9 billion in the period, which accounted for 32% of total revenues, largely due to higher construction accomplishments of SM Development Corporation (SMDC) projects that were launched since 2014. SMDC’s reservation sales surged 22% to PHP27.6 billion in the first half, translating to a 8% improvement in unit sales to 8,699 units.

The Commercial Properties Group, which contributed 3% of total revenues, posted a 14% increase in revenues to PHP1.5 billion.

Hotels and convention centers revenues soared 73% to PHP2.2 billion in the first half, largely from the opening of Conrad Manila in 2016.

Banking

BDO Unibank, Inc. (BDO) reported its first half net income at PHP13.3 billion driven by the growth in loan portfolio, low-cost deposits and higher recurring fee-based service income. Excluding one-time gains from the consolidation of BDO Life in 2016 recurring income in 2017 grew by 16%.

Net interest income grew 22% in the six-month period to PHP38.6 billion. Customer loans increased 17% to PHP1.6 trillion while total deposits rose to almost PHP2.0 trillion, supported by the 17% growth in current account and savings account (CASA) deposits.

China Banking Corporation reported net income growth of 10% to PHP3.6 billion for the first half, driven by strong growth in its lending business and core recurring income.

Net interest revenues grew 16% to PHP9.2 billion year-on-year. Gross loans expanded 22% year-on-year to PHP401.7 billion while total deposits grew 20% to PHP554.0 billion.

Balance Sheet

As of end-June 2017, total assets of SM grew 17% to PHP916.3 billion. SM maintains a healthy balance sheet with a conservative gearing ratio of 43% net debt to 57% equity.

SM increased its investments in its subsidiaries in the first half with the PHP60 billion stock rights issue of BDO in January 2017 and PHP15 billion for China Bank in May 2017, as well as its acquisition of stakes in logistics company 2GO Group and Philippines Urban Living Solutions, the operator of a dormitel chain under the brand, “MyTown”.

About SM Investments Corporation

SM Investments Corporation is a leading Philippine company that is invested in market leading businesses in retail, banking and property. It also invests in ventures that can capture high growth opportunities in the emerging Philippine economy. It looks for market leaders or those with potential to become leaders in their chosen sectors that offer synergies and attractive returns and cashflows.

SM’s retail operations are the country’s largest and most diversified with its food, non-food and specialty retail stores. 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 7th largest bank.

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

For further inquiries, 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 Investments Corporation

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PHILIPPINES: SM Prime registered a 15% net income growth to PHP7.79 billion in Q2 2017 from PHP6.75 billion in same period last year

Pasay City, Philippines, 2017-Aug-07 — /EPR Retail News/ — SM Prime Holdings, Inc. (SM Prime), the Philippines’ leading integrated property company registered a 15% net income growth to PHP 7.79 billion in the second quarter of 2017 from PHP 6.75 billion in same period last year. This brought SM Prime’s first half’s net income to PHP 14.39 billion from PHP 12.59 billion of last year, an increase of 14%. Consolidated revenues grew by 10% to PHP 43.25 billion from PHP 39.23 billion in same period last year. Meanwhile, overall operating income went up by 13% year-on-year to PHP 20.11 billion from PHP 17.85 billion.

“SM Prime’s performance in the first half of the year reflects a more balanced revenue and income streams from our various businesses including the growing contribution from our provincial operations. We are happy to report that our investments in the provinces are now bearing fruits, particularly in mall operations given that these account for more than half of our Philippine malls portfolio. In the coming years, we are expecting a growing contribution from our residential group as we are launching more housing projects across the country,” SM Prime President Jeffrey C. Lim said.

Mall Operations

Mall revenues, which contributed 60% of SM Prime’s consolidated revenues, rose by 10% in the first half of the year to PHP 25.68 billion from PHP 23.42 billion last year. Mall rentals improved by 10% to PHP 21.75 billion from PHP 19.79 billion, driven by additional 1.1 million square meters (sqm) gross floor area (GFA) of retail spaces from new malls and expansions in 2015 to 2017, as well as 7% same-mall-sales growth. Cinema and event ticket sales was almost flat at PHP 2.35 billion due to fewer blockbuster movies. Revenues from amusement and merchandise sales amounted to PHP 1.58 billion, up by 26%. Consolidated mall operating income increased by 10% to PHP 14.18 billion from PHP 12.90 billion, while operating margins were stable at 55% in the period under review.

To date, SM Prime has 63 shopping malls in the Philippines and seven in China with a GFA of 7.8 million sqm and 1.3 million sqm, respectively. The company is scheduled to open new malls, including SM City Puerto Princesa in Palawan.

Residential Development

Residential group, which accounts for 32% of SM Prime’s consolidated revenues, recorded a 5% increase in revenues to PHP 13.91 billion from PHP 13.25 billion. Revenue growth came from higher construction accomplishments of SM Development Corporation (SMDC) projects launched since 2014. These are Shore 2 Residences in Pasay City, Air Residences in Makati City, Cool Residences in Tagaytay City, Fame Residences in Mandaluyong City, Trees Residences in Quezon City and South Residences in Las Piñas City.

Recently launched projects continue to enjoy brisk sales, resulting in 22% reservation sales growth to PHP 27.55 billion from PHP 22.60 billion or 8% increase in unit sales to 8,699 units from 8,078 units. These residential projects are mostly located in the Mall of Asia Complex.

Other Businesses

The rest of SM Prime’s businesses posted a revenue growth of 43% to PHP 3.74 billion in the first half of the year from PHP 2.61 billion last year. Operating income increased by 49% to PHP 1.77 billion from PHP 1.19 billion while operating income margin improved by 47% from 45% in the same period. The growth was attributed to the rental revenues from FiveE-comCenter, launched in 2015, and Conrad Manila which opened last June 2016.

Currently, SM Prime has six office buildings with a combined GFA of 383,000 sqm. ThreeE-Com and FourE-Com Centers are under construction and scheduled for completion in 2018 and 2020, respectively. These additional office buildings will add an estimated GFA of 320,000 sqm in the company’s office portfolio. While Hotel and Convention Centers group has a portfolio of six hotels with over 1,500 rooms, four convention centers and three trade halls.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

For further information, please contact:
Alexander Pomento
Vice President, Investor Relations
SM Prime Holdings, Inc.
E-mail: alex.pomento@smprime.com
Tel. no.: +632 862 7940

Source:  SM Prime Holdings

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PHILIPPINES: SM Prime Holdings to open new SM Cherry Antipolo, Rizal on Friday, June 30

Artist’s Perspective of SM Cherry Antipolo

Pasay City, Philippines, 2017-Jun-30 — /EPR Retail News/ — SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, will open SM Cherry Antipolo on Friday, June 30. SM Cherry Antipolo is the 63rd mall of SM Prime in the country, which is situated along the bustling Marcos Highway, and spans 27,000 square meters (sqm) of gross floor area (GFA) bringing the total retail footprint to 9.1 million sqm in the Philippines.

“SM Cherry Antipolo is the third Cherry Foodarama outlet in the country that SM Prime re-opens to public after acquiring the brand. The opening of this mall provides the company a stronger foothold in the eastern part of Metro Manila along with our three other malls in Rizal province, the SM City Masinag, SM City Taytay and SM Center Angono,” SM Prime President Jeffrey C. Lim said.

SM Cherry Antipolo is set to expand the presence of SM Group in the Rizal province by bringing SM Supermarket, Ace Hardware, Watsons, and BDO. This three-level mall will open with 55% of its space leased awarded and will feature an enhanced shopping environment for the community, offering expanded services beyond the traditional grocery experience. This mall will also have a Skygarden on the second level, which will share a comfortable and inviting outdoor experience with covered dining areas and walking paths.

This year, SM Prime has already launched SM CDO Downtown Premier last May 12 and S Maison at Conrad Manila last June 14; and still scheduled to open in Palawan is the SM City Puerto Princesa.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities that enrich the quality of life of millions.

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For further information, please contact:
Alexander Pomento Vice President, Investor Relations
SM Prime Holdings, Inc.
E-mail: alex.pomento@smprime.com
Tel. no.: +632 862 7940

SOURCE: SM Investments Corporation

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PHILIPPINES: SM Group honored with 10 awards at the Corporate Governance Asia magazine’s 7th Asian Excellence Award

PHILIPPINES: SM Group honored with 10 awards at the Corporate Governance Asia magazine’s 7th Asian Excellence Award

 

JW Marriott Hotel, Hong Kong, 2017-Jun-21 — /EPR Retail News/ — SM Investments Corporation (SM) and its subsidiaries bagged 10 awards from Hong Kong-based Corporate Governance Asia magazine in its 7th Asian Excellence Award held at the JW Marriott Hotel in Hong Kong last June 9.

SM and its subsidiaries SM Prime Holdings, Inc. (SM Prime), BDO Unibank, Inc. (BDO) and China Banking Corporation (China Bank) were chosen as awardees from the Philippines. The 7th Asian Excellence Award 2017 is touted as Asia’s biggest event on IR and Governance awards in Asia in the past seven years.

The magazine recognized SM Director and former President Harley T. Sy, BDO Chairperson Teresita T. Sy-Coson, BDO President Nestor Tan, SM Prime Holdings President Jeffrey Lim and China Bank President Ricardo Chua as Asia’s Best Chief Executive Officers or CEOs.

Cited as Asia’s Best CFO are former SM CFO Jose Sio, now wearing the hat of Chairman and BDO EVP and Treasurer Pedro Florescio III.

SM, SM Prime, BDO, and China Bank bagged Best IR Company including Best Corporate Communications (for SM and BDO), Best Environmental Responsibility (for SM Prime) and Best IR Professionals for SM SVP for Investor Relations and Corporate Communications Corazon Guidote, BDO SVP for IR and Corporate Planning Luis Reyes, Jr. and China Bank SVP for IR and Corporate Relations Alexander Escucha. This is the 6th year that SM clinched the Best IR and Best IR Professional awards.

The Asian Excellence Awards are designed to recognize the achievements and excellence in management acumen, financial performance, corporate social responsibility, environmental practices and investor relations of Asian companies. Since its inception in 2011, CG Asia has bestowed accolades on the Best CEO, Best CFO, Best Corporate Social Responsibility, Best Environmental Practices, Best Investor Relations, Best Investor Relations Professionals and Best Financial Public Relations Companies.

Corporate Governance Asia is now read by 12,000 of the most important companies in Asia and provides incisive editorial content with extensive coverage on the latest and current developments, legislation, case studies and various analyses relating to corporate governance practices in Asia.

About SM Investments Corporation
SM Investments Corporation is a leading Philippine company that is invested in market leading businesses in retail, banking and property. It also invests in ventures that can capture high growth opportunities in the emerging Philippine economy. It looks for market leaders or those with potential to become leaders in their chosen sectors that offer synergies and attractive returns and cashflows.

SM’s retail operations are the country’s largest and most diversified with its food, non-food and specialty retail stores. 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 7th 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 Investments Corporation

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The Children’s Place to open retail stores in Indonesia, Singapore, Thailand and The Philippines

SECAUCUS, N.J., 2017-Jun-21 — /EPR Retail News/ — The Children’s Place, Inc.(Nasdaq:PLCE), the largest pure-play children’s specialty apparel retailer in North America, today (June 19, 2017) announced that it has entered into a development agreement with Gill Capital covering Indonesia, Singapore, Thailand and The Philippines.  The first retail stores are to open in Indonesia, with the plan to open 25 locations in Indonesia, followed by openings in the other countries in the development area.

Jane Elfers, President and Chief Executive Officer of The Children’s Place, stated, “We are excited to be partnering with Gill Capital.  They have a proven track record of operating successful brands in South East Asia.  We are making significant strides in our International franchise business, and we remain focused on providing great fashion and value for children around the world.”

Commenting on the partnership with The Children’s Place, Mr. J.S. Gill, Chairman of Gill Capital, stated, “We are excited to launch our partnership with The Children’s Place.  We believe in the unique quality, fashion and value of the Brand, and we are confident that it will be a tremendous success with our customers.”

About The Children’s Place, Inc.

The Children’s Place is the largest pure-play children’s specialty apparel retailer in North America.  The Company designs, contracts to manufacture, sells at retail and wholesale, and licenses to sell fashionable, high-quality merchandise at value prices, primarily under the proprietary “The Children’s Place,” “Place” and “Baby Place”  brand names.  As of April 29, 2017, the Company operated 1,033 stores in the United States, Canada and Puerto Rico, an online store at www.childrensplace.com, and had 156 international points of distribution open and operated by its 6 franchise partners in 18 countries.

About Gill Capital

Gill Capital is a Singapore-based company with operations in Singapore, Thailand and Indonesia under various concepts in fashion, children’s specialty, confectionary, and food & beverage.

Forward Looking Statements
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements relating to the Company’s positioning, and forecasts regarding store openings and earnings per diluted share from continuing operations.  Forward-looking statements typically are identified by use of terms such as “may,” “will,” “should,” “plan,” “project,” “expect,” “anticipate,” “estimate” and similar words, although some forward-looking statements are expressed differently.  These forward-looking statements are based upon the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results and performance to differ materially. Some of these risks and uncertainties are described in the Company’s filings with the Securities and Exchange Commission, including in the “Risk Factors” section of its annual report on Form 10-K for the fiscal year ended January 28, 2017. Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the risks resulting from the highly competitive nature of the Company’s business and its dependence on consumer spending patterns, which may be affected by the weakness in the economy which continue to affect the Company’s target customer, the risk that the Company’s strategic initiatives to increase sales and margin are delayed or do not result in anticipated improvements, the risk of delays, interruptions and disruptions in the Company’s global supply chain, including resulting from foreign sources of supply in less developed countries or politically unstable countries, the risk that the cost of raw materials or energy prices will increase beyond current expectations or that the Company is unable to offset cost increases through value engineering or price increases, and the uncertainty of weather patterns. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact: 

Robert Vill
Group Vice President
Finance
(201) 453-6693

Source: Children’s Place, Inc./globenewswire

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PHILIPPINES: Felicidad T. Sy Foundation to fund the construction of sports center at Philippine Cultural College’s Quezon City campus

PHILIPPINES: Felicidad T. Sy Foundation to fund the construction of sports center at Philippine Cultural College’s Quezon City campus

 

Pasay City, Philippines, 2017-May-30 — /EPR Retail News/ — In support of education and sports development, The Felicidad T. Sy Foundation (Foundation) of SM matriarch Felicidad T. Sy has signed an agreement with the Philippine Cultural College (PCC) for the construction of a 600-square meter sports center to be located at PCC’s Quezon City campus.

The Foundation has donated PHP50 million to fund the development of the sports center, the construction of which will commence in the next few months this year. To be named “Felicidad Tan Sy Sports Center”, the facility will house state-of-the-art sports equipment to be used solely for educational purposes and is targeted for completion before the year ends.

PCC, formerly Philippine Cultural High School, was established on June 27, 1923 and is the first and oldest Chinese-Filipino secondary school in the country. It offers pre-school, grade school, junior and senior high school programs that emphasize the teaching of English, Filipino, Mandarin, mathematics, science, and information technology. In 2008, it started offering college education, making it a complete educational system.

PCC currently has three campuses located in Manila, Caloocan City, and Quezon City. The Manila campus is a six-story building at 1253 Jose Abad Santos Street in Tondo, Manila. The Caloocan campus is at 175 8th Avenue Extension, Grace Park, Caloocan City. Both campuses offer pre-school, grade school, junior and senior high school programs. The Quezon City campus, constructed through the concerted efforts and generosity of PCC alumni, houses the College Department of the PCC system. The Quezon City campus is located at 46 D. Tuazon corner M. Cuenco Sr. streets, Quezon City.

Existing facilities at these campuses include libraries, instructional media centers, internet and computer laboratories, speech laboratories, science rooms, audio-visual rooms and auditoriums, basketball gymnasiums and other sports facilities, kitchens and hotel rooms, and a student cooperative store.

The Felicidad T. Sy Foundation is focused on spiritual development and promoting Catholic living in the community. Its programs support the restoration and building of Catholic churches, provide SM employees spiritual programs and care for church leaders and ministers through various special projects among others.

Source: SM Investments Corporation

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PHILIPPINES: SM opens its second SM mall in Cagayan de Oro

PHILIPPINES: SM opens its second SM mall in Cagayan de Oro

 

Pasay City, Philippines, 2017-May-12 — /EPR Retail News/ — SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, opens its newest mall, the SM CDO Downtown Premier, on May 12, 2017. The new mall will add almost 178,000 square meters (sqm) of gross floor area (GFA) to the total retail footprint.

“SM Prime is one with the government in creating more opportunities that highlight the economic growth potential of Mindanao. The opening of SM CDO Downtown Premier, which is at the gateway of Northern Mindanao, is our second SM mall in Cagayan de Oro, and fifth in Mindanao which reflects our commitment and confidence to this part of the country,” SM Prime President Jeffrey C. Lim said.

SM CDO Downtown Premier, which is 87% leased awarded, will raise the malling experience in Cagayan de Oro as it will offer top amenities that Kagay-anons can enjoy. These include Cyberzone, SM Food Hall, SM Bowling Center, 5-level carpark building, 4 digital theaters, 2 Director’s Club, 1 Large Format Cinema, an 800-seater Sky Hall just like in SM Aura Premier in Taguig City and an al fresco dining and entertainment Sky Garden just like in SM North EDSA in Quezon City. The mall will also feature more popular stores such as Ace Hardware, BDO, Chinabank, Forever 21, Miniso, Our Home, Pet Express, SM Appliance, Sports Central, Surplus Shop, Toy Kingdom, Uniqlo and Watsons.

To top it all, SM CDO Downtown Premier complex will also have an eight-level office building that will cater to Business Process Outsourcing (BPO) companies.

Set to be Cagayan de Oro’s premier shopping address, SM CDO Downtown Premier is located at the bustling central business district of the city and easily accessible to the financial, commercial, residential and learning institutions.

Beyond the Lifestyle

SM Prime continues to give primary importance to sustainability and in integrating disaster resilience into its properties. As such, SM CDO Downtown Premier mall will have a water catchment beneath, which will be able to hold 13,650 cubic meters of rainwater to help lessen the flooding in the area.

SM Prime is scheduled to open four more malls in the Philippines namely SM Cherry Antipolo in Rizal, SM Center Tuguegarao Downtown in Cagayan, SM City Puerto Princesa in Palawan and SM Center Lemery in Batangas this year. By the end of 2017, SM Prime will have 65 malls in the Philippines – 22 of which are in Metro Manila, 33 in Luzon outside of Metro Manila, five in the Visayas and five in Mindanao – and seven malls in China with an estimated combined GFA of 9.3 million sqm.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities that enrich the quality of life of millions.

For further information, please contact:
Alexander Pomento
Vice President, Investor Relations
SM Prime Holdings, Inc.
E-mail: alex.pomento@smprime.com

Source: SM Prime Holdings, Inc.

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ASW’s Global Health Survey: France and the Philippines the most health-savvy European and Asian markets respectively

  • France and the Philippines are the most health-savvy European and Asian markets respectively
  • The global survey also reveals the correlation between happiness and health
  • One in every five people seek pharmacist’s advice when feeling ill

HongKong, 2017-Apr-10 — /EPR Retail News/ — To coincide with World Health Day, an annual global health awareness day designated by the World Health Organization (WHO), A.S. Watson Group (ASW) announced today ( April 7th, 2017) the results of the Group’s first-ever Global Health Survey conducted by A.S. Watson Group’s WISE customer panel, with responses from more than 10,000 customers in 11 European and Asian markets, providing valuable insights into the expectations and needs customers around the globe have in personal health and wellbeing.

A large-scale research to understand global trend and local needs on health
The research was conducted with 10,580 customers of ASW brands in 11 markets, from November 2016 through January 2017. Respondents aged between 15 and 60 years took the survey voluntarily to share their thoughts on an array of health topics.
Respondents were asked about their perceived level of health and how knowledgeable they thought they were about health. WISE devised a formula to harness the vast data so to generate a holistic understanding of the general level of health of the surveyed markets – which was aptly named the Global Health Index; markets which had more people considering themselves healthy and well-versed in health matters scored better in the Index.

Among the 11 surveyed markets, France topped the list, followed by the Netherlands, the United Kingdom, the Philippines, Singapore, Malaysia, Ukraine, China, Thailand, Taiwan, and Hong Kong came in last. Overall, European markets fared better than Asian ones, while Ukraine, Thailand and the three Greater China markets did worse than the global average.

Smile and health are two sides of the same coin
This year’s World Health Day was devoted to raising awareness of depression. In order to learn more about mental health the Global Health Research asked and found that the older we are, the less we smile. This downward trend is alarming and signified the urgency for us to act and improve mental health around the world. Luckily, the Research shed light on a possible solution, with lots of laughs. The Research revealed the relationship between happiness and perceived health condition. For markets whose people smile more often, they enjoy a higher perception of health and wellbeing as well, e.g. France, China, the Philippines, and Malaysia (please refer to image 2 in the Appendix).

Pharmacists poised to play a bigger role in the community
ASW believes community pharmacists can play bigger roles in the communities around the globe to alleviate the ever-increasing healthcare burden on customers’ and healthcare systems’ shoulders. The Global Health Research found that the majority of people (69%) go to doctors for medical advice, with only 21% would talk to a community pharmacist for medical advice; meanwhile, 35% revealed that they have sought advice from the internet, which could put public health in danger since online advice are not all guaranteed credible.

Honorary Associate Professor William Chui, president of the Society of Hospital Pharmacists of Hong Kong, expected a more engaged role for community pharmacists, “Professionally trained with healthcare expertise, both hospital pharmacists and community pharmacists can be and have been trusted professionals in the communities and should be regarded as an authoritative source of health and medical advice; pharmacists can also lessen the mounting pressure on a community’s prevailing healthcare sector, public or private, and release valuable healthcare resources to more critical needs.”

Mobilising 46,000,000 people around the world to #GetActive!
In response to the Research results, and also the WHO’s Sustainable Development Goal, A.S. Watson will organise the Global Health Campaign to promote healthy lives and well-being for all at all ages.

Themed under “#GetActive”, the Global Health Campaign encourages a more active lifestyle through engaging our customers. All participating ASW markets will organise activities on health topics to energise over 46,000,000 customers around the world. By organising health-themed events we hope to make our communities healthier, including #GetActive outdoor sports challenges, flashmob exercises, in-store activities and social media education campaigns.

To further answer the call from WHO to fight depression, the ASW Global Smile Campaign in June will relay positive energy to all markets around the world, we hope to make our communities more supportive, and eventually free from depression. Apart from fun and engaging activities, people can also visit http://projectlol.hk/share-smile/, upload their cheerful selfies, get their smiles rated and share the joy with all on the social media.

Ms Malina Ngai, JP, Chief Operating Officer of A.S. Watson Group further explained the reason for taking the health campaign to a global scale, “ASW was founded over 175 years ago to provide quality health products to customers. In view of the facts garnered from Global Health Research, we know that people say they want to be healthier by exercising, but not many of them walk the talk. As the leading international health and beauty retailer in Asia and Europe, we want to challenge the mindset of the people that we can all be active in daily life without putting on sports gear, encourage more of them to live healthier, and create closer bonding with their favourite brands by using our healthcare expertise, online and offline.”

Contact:

+852 2606 8833
+852 2690 2836
grouppr@aswatson.com

Source: A.S. Watson Group

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PHILIPPINES: SM Investments Corporation acquires 34.5% stake in 2Go Group

Pasay City, Philippines, 2017-Apr-03 — /EPR Retail News/ — SM Investments Corporation (SMIC) completed the acquisition of a minority stake in 2Go Group via a 34.5% stake in its parent company. 2Go is the country’s largest integrated supply chain operator whose businesses include shipping, freight forwarding, warehousing, and express delivery services.

“We are pleased with this opportunity to invest in a fast growing, dynamic logistics business. It will benefit from, as well as contribute to the country’s economic progress especially as development spreads to the provinces” said Mr. Harley Sy, President of SMIC. Earlier this month when the company released its annual results, Mr. Sy said that the group is optimistic about broader regional growth with the government plans in infrastructure, agriculture and tourism.

About SM Investments Corporation

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

SMIC’s retail operations enjoy a strong brand franchise consisting of THE SM STORE; a strong portfolio of leading specialty retailers including Ace Hardware, SM Appliances, Homeworld, Our Home, Toy Kingdom, Watsons and others; and its food retail chains, namely SM Supermarket, SM Hypermarket, Savemore and WalterMart stores. SM’s property arm, SM Prime Holdings, Inc., is one of the largest integrated property developers in the Philippines with interests in mall, residential, commercial and tourism development. SMIC’s interests in banking are in BDO Unibank, Inc. (BDO), the country’s leading bank and in China Banking Corporation (China Bank), the sixth largest private bank. Combined, these two banks have a network of over 1,600 branches nationwide.

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
www.sminvestments.com

Source: SM Investments Corporation

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PHILIPPINES: SM Investments Corporation honored with seven awards during the 12th Corporate Governance Asia Recognition Awards 2016

PHILIPPINES: SM Investments Corporation honored with seven awards during the 12th Corporate Governance Asia Recognition Awards 2016

 

Pasay City, Philippines, 2017-Mar-24 — /EPR Retail News/ — SM Investments Corporation (SM) and its subsidiaries received seven awards from Hong Kong-based publication Corporate Governance (CG) Asia during the 12th Corporate Governance Asia Recognition Awards 2016 organized by the magazine.

SM and its subsidiaries/ affiliates SM Prime Holdings, Inc. (SM Prime), BDO Unibank, Inc. (BDO) and China Banking Corporation (China Bank) were chosen as awardees from the Philippines.

CG Asia cited SM, SM Prime and BDO as “Icons on Corporate Governance” for the 11th, 6th and 12th year respectively. China Bank was named as Asia’s Outstanding Company on Corporate Governance for the second consecutive year.

The magazine also recognized SM President Harley T. Sy, BDO Chairperson Teresita T. Sy-Coson and China Bank Chairman Hans T. Sy with the “Asian Corporate Director Award”.

CG Asia seeks to recognize companies who have consistently made the honour rolls in its annual awards in the past 12 years by bestowing to them the highest accolade of Icons in Corporate Governance. This esteemed recognition belongs to the best of the best in corporate governance in Asia as they continue to uphold the best practices no matter what the business cycle is.

The Asian Corporate Director Recognition Awards acknowledge outstanding corporate directors from boards of public and private companies in Asia and have been leaders in guiding their boards and executive management in growing their companies and mantaining the ethics of their respective boards.

The multiple awards given were the following:
SMIC
Icon on Corporate Governance
Asian Corporate Director Award – Mr. Harley Sy

SM Prime
Icon on Corporate Governance

BDO
Icon on Corporate Governance
Asian Corporate Director Award – Ms. Teresita Sy-Coson

China Bank
Outstanding Company on Corporate Governance
Asian Corporate Director Award – Mr. Hans Sy
Corporate Governance Asia is now read by 14,000 of the most important companies in Asia and provides incisive editorial content with extensive coverage on the latest and current developments, legislation, case studies and various analyses relating to corporate governance practices in Asia.

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
www.sminvestments.com

Source: SM Investments Corporation

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PHILIPPINES: SM wins four awards at the PRSP Gabi ng Parangal 52nd Anvil Awards

PHILIPPINES: SM wins four awards at the PRSP Gabi ng Parangal 52nd Anvil Awards

 

Pasay City, Philippines, 2017-Mar-17 — /EPR Retail News/ — SM won four awards during the Public Relations Society of the Philippines’ (PRSP) Gabi ng Parangal 52nd Anvil Awards held last March 10, 2017.

SM Investments Corporation was awarded for its website redesign project, 2015 Annual Report and Environmental Social and Governance (ESG) Report. SM Foundation, on the other hand, received a silver Anvil for its School Building program.

SM’s second ESG Report in 2015 with the theme, “Creating a Sustainable Future”, earned a Gold Anvil Award for “manifesting SM’s committment to sustainability and underscored its alignment with the United Nation’s Sustainable Development Goals.”

SM also bagged a Silver Anvil Award for its website redesign project which introduced “a more current and global aesthetic, improved content and organization and increased functionality and navigability.”

The SM 2015 Unified Annual Reports, with the theme, “Sustaining Growth, Delivering Value”, clinched a Silver Anvil Award “for providing accurate and comprehensive disclosure of SM’s financial performance, growth plans and strategies in key social investments, environment, governnance policies and initiatives.”

The Anvil is presented to the outstanding public relations tools and programs that have met the high standards set for each category.  PR practitioners, industry communications specialists, academicians and business persons attended the event.

Read more about SM Investments’ 2015 Annual Report and ESG Report here: http://www.sminvestments.com/annual-reports

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
www.sminvestments.com

Source: SM Investments Corporation

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PHILIPPINES: SM group continues commitment to the government and Go Negosyo’s initiative to promote produce grown by local farmers

PHILIPPINES: SM group continues commitment to the government and Go Negosyo’s initiative to promote produce grown by local farmers

 

Pasay City, Philippines, 2017-Mar-08 — /EPR Retail News/ — In the fourth quarter of last year, the Department of Agriculture (DA) with the help of Go Negosyo, finalized an agreement with supermarket and restaurant chains to source directly from local onion farmers and help them sell their produce. As the first to support the initiative, SM Markets immediately ordered and successfully moved 20 metric tons of Nueva Ecija onions. To continue its support, the company has already placed a new order of 100 metric tons or approximately 90,718.5 kilos of red and white onions from Nueva Ecija-based BONEA Multi-purpose cooperative, the local source endorsed by DA Secretary Manny Piñol. The onions are expected to arrive on the second week of March and will be available in select SM Supermarket, SM Hypermarket, Savemore Market, and Waltermart branches in Metro Manila.

SM Markets’ continuing support is part of the SM group’s commitment to the government and Go Negosyo’s initiative to promote produce grown by local farmers. Led by Agriculture Secretary Manny Piñol and Presidential Adviser on Economic Enterprise Joey Concepcion, the program aims to provide local farmers better access to the market through SM’s chain of stores and other retailers all over Metro Manila.

“Our customers have embraced the DA’s initiative to help the local farmers of Nueva Ecija. We are very pleased to report that we have ordered more than double the previous quantity of onions and we are making it available in more SM Markets stores this time. So far, the partnership between DA and major retailers is going well and we are looking forward to more joint ventures in the future,” says SM Markets consultant for external affairs Pong Ejercito.

With 48 SM Supermarket branches, 146 Savemore Market stores, and 44 SM Hypermarkets, SM Markets remain the largest food retail chain in the country. The group bagged the Philippine Retailers Association’s Best Supermarket award two years in a row with SM Hypermarket gaining Hall of Fame status in 2015. SM Markets has also won numerous DTI Gold Bagwis Service Excellence Seals with SM Supermarket being the first food retailer to win the Corporate Gold Bagwis Seal in 2014 with SM Hypermarket and Savemore Market following a year after. As one of the pioneering supermarket chains in the country, SM Markets continues to deliver world-class products and services to over 230 cities and municipalities nationwide and counting.

For queries, please contact:
Marketing Communications Group
Frances Corsiga – 09175305636
Olivier Guevara – 09175466877

Source: SM Investments Corporation

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PHILIPPINES: SM Investments Corporation announces an 8% growth in net income to PHP31.2 billion in 2016

Pasay City, Philippines, 2017-Mar-02 — /EPR Retail News/ — SM Investments Corporation (SM) reported an 8% growth in net income to PHP31.2 billion in 2016. Property accounted for 39% of total earnings, with banks comprising 37% and retail 24%.

“Our core businesses performed well and continue to grow in line with the country’s strong economic development. We are optimistic about continued development and that government plans for infrastructure, agriculture and tourism in particular will enable broader regional growth. SM continues to prioritize regional investment and our nationwide expansion plans are focused on effective execution,” SM President Harley T. Sy said.

SM’s consolidated revenues grew 9% to PHP362.8 billion for the period, up from PHP332.8 billion in 2015. This was driven by an 8% increase in retail revenues and a 12% growth in property revenues.

Retail

Operations under SM Retail Inc., which consist of non-food (THE SM STORE and specialty stores) and food stores (SM Markets), reported sustained growth in total revenues of 8% to PHP276.5 billion, while net income grew 7% to PHP10.6 billion from PHP9.9 billion the previous year.

Early in 2016, SM announced the merger of SM Retail with several leading specialty retail stores with over 1,400 outlets. The merger received final approval from the Securities and Exchange Commission on 7 July 2016. The specialty stores added 153 stores nationwide last year.

“Following the retail merger last year, the performance of our specialty retail has been boosted by discretionary spending, especially in areas such as home furnishings and do-it-yourself goods, tracking the strong consumption and overall growth of the economy,” Mr. Sy added.

For its part, THE SM STORE opened four stores in SM San Jose Del Monte in Bulacan, SM Trece Martires and SM Molino in Cavite and SM East Ortigas in Pasig. Total gross selling areas of all 57 department stores stood at 0.75 million square meters.

The food group, which includes SM Markets (SM Supermarket, SM Hypermarket and Savemore) and WalterMart, continued to expand mostly in provincial areas in 2016. The group added 33 new stores, most of which are stand-alone Savemore stores. SM’s food group continues to expand in various regions of the country with a multi-format growth strategy to address the lack of organized retail.

At end-December 2016, SM Retail had a total of 2,110 outlets, comprising 57 THE SM STORES, 1,556 specialty retail outlets, 48 SM Supermarkets, 44 SM Hypermarkets, and 156 Savemore, 39 WalterMart and 210 Alfamart stores.

Property

SM Prime Holdings, Inc., SM’s property holding firm, said its recurring net income grew 14% in 2016 to PHP23.8 billion. Consolidated revenues grew 12% to PHP79.8 billion in 2016.  Revenues of its mall business, which includes rentals, cinema and event ticket sales and other revenues, grew 9% to PHP48.6 billion due to added retail spaces in the last two years.

To date, SM Prime has 60 shopping malls in the Philippines (7.7 million sqm GFA) and seven in China (1.3 million sqm GFA) with the recent addition of the Tianjin mall.

The residential group, which consists of SM Development Corporation (SMDC), Highlands Prime and Costa del Hamilo among others, posted consolidated revenues of PHP25.4 billion, up 13%. The growth was largely due to higher sales take-up on ready for occupancy (RFO) units from projects such as Princeton, M Place and Mezza II in Quezon City and Jazz Residences in Makati. SMDC’s reservation sales grew 18% to PHP46.7 billion in 2016, translating to a 15% improvement in unit sales to 16,320 units.

Consolidated revenues of SM Prime’s Commercial Properties Group rose 32% to PHP2.7 billion mainly from the rental revenues from the newly opened FiveEcomCenter that is almost 100% occupied.

SM Prime’s Hotels and Convention Centers posted 32% growth in revenues to PHP3.2 billion largely due to improved occupancy rates and the opening of Park Inn Clark in December 2015 and Conrad Manila in June 2016.

Banking

BDO Unibank, Inc. posted a net income of PHP26.1 billion in 2016. Net interest income grew by 15% to PHP65.6 billion, driven by the 16% growth in gross customer loans to PHP1.5 trillion. Deposits grew 15% to PHP1.9 trillion, primarily in the form of low-cost CASA deposits. Fee-based income was up 15% to PHP22.2 billion while insurance premiums contributed P8.0 billion, compensating for the decline in trading gains to PHP4.8 billion last year.

In January 2017, the Bank successfully completed its rights offer, raising a total of PHP60 billion (USD1.2 billion) in fresh capital. This will allow the Bank to sustain its medium-term growth targets and recent strategic initiatives that include ONB’s expansion and coverage of  underserved markets, refocusing efforts on the insurance business through BDO Life, and creating an online stock trading platform to serve a fast-growing market through BDO Nomura.  The new capital will also provide a comfortable buffer over higher minimum capital requirements with the staggered implementation of the Domestic Systemically Important Bank (DSIB) surcharge.

China Banking Corporation (China Bank), meanwhile, reported net income growth of 15% to PHP6.4 bilion in 2016 on the back of sustained growth in core and fee-based businesses. Net interest income was up 11% to PHP16.7 billion while gross loans expanded 24% to PHP393.7 billion. Fee-based revenues improved 14% to PHP5.1 billion. Total deposits grew 23% to PHP541.6 billion underpinned by growth in checking and savings accounts by 21% to PHP276.4 billion.

China Bank issued the first tranche (PHP9.6 billion) of its PHP20 billion long-term negotiable certificates of time deposits (LTNCD) in 2016 to support its strategic initiatives and business expansion. Its investment house, China Banking Capital Corporation also put up a stock brokerage house, China Bank Securities Corporation and a special purpose company CBC Assets One (SPC), inc.

Balance Sheet

As of end 2016, total assets of SM grew 10% to PHP861.5 billion. SM maintains a healthy balance sheet with a conservative gearing ratio of 37% net debt to 63% equity.

In 2016, the parent firm raised PHP20 billion from its 7-year Series G retail bonds due in 2023.  The bond proceeds will be used to finance future investments and strategic acquisitions in SM’s core business segments, namely property, retail and financial services.

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 is one of the more responsible companies in the country due 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; a strong portfolio of leading specialty retailers including Ace Hardware, SM Appliances, Homeworld, Our Home, Toy Kingdom, Watsons and others; and its food retail chains, namely SM Supermarket, SM Hypermarket, Savemore and WalterMart stores. SM’s property arm, SM Prime Holdings, Inc., is one of 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 leading bank and in China Banking Corporation (China Bank), the sixth largest private bank. Combined, these two banks have a network of over 1,600 branches nationwide.

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
www.sminvestments.com

Source: SM Investments Corporation

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PHILIPPINES: SM Prime announces a recurring net income growth of 14% in 2016 vs. previous year

Pasay City, Philippines, 2017-Feb-22 — /EPR Retail News/ — SM Prime Holdings, Inc. (SM Prime), the Philippines’ leading integrated property company, registered a recurring net income growth of 14% in 2016 to PHP 23.8 billion from PHP 20.9 billion last year. Consolidated revenues grew 12% to PHP 79.8 billion in 2016 from PHP 71.5 billion in 2015. Overall operating income improved by 12% to PHP 35.3 billion in 2016 from PHP 31.4 billion the prior year. Growth was mostly driven by the continued expansion of its malls as well as the strong sales take-up of housing units.

“SM Prime sustained its overall performance in 2016 on the account of focusing more on recurring income stream complemented by the solid performance of the housing group. SM Prime is well-positioned to capture the positive impact of the higher infrastructure spending intended by the government that will also spur overall economic growth of the country,” SM Prime President Jeffrey Lim said.

SM Prime’s mall revenues grew by 9% to PHP 48.6 billion from the previous year’s PHP 44.5 billion. Rentals improved by 10% to PHP 41.0 billion from PHP 37.2 billion in the same period under review. The revenue growth was driven by additional retail spaces of 1.5 million square meters (sqm) of gross floor area (GFA) added in the past two years. Meanwhile, same-mall sales growth was consistent at 7%. Cinema and event ticket sales was slightly down by 3% to PHP 4.7 billion in 2016 from PHP 4.8 billion in the same period. The decline was due to fewer local blockbuster movies shown in 2016 compared with 2015. Revenues from amusement and merchandise sales rose by 16% to PHP 3.0 billion from PHP 2.6 billion. The revenue growth mostly came from higher merchandise sales and new amusement centers in the company’s newer malls. Mall operating income likewise improved by 9% to PHP 25.8 billion in 2016 from PHP 23.7 billion in 2015, while operating margins stood at 53%.

To date, SM Prime has 60 shopping malls in the Philippines (7.7 million sqm GFA) and seven in China (1.3 million sqm GFA). For 2017, SM Prime will open at least four new malls in the Philippines with an estimated combined 300,000 sqm of additional shopping space.

SM Prime’s residential group, led by SM Development Corporation (SMDC), contributed 32% to consolidated revenues and grew by 13% to PHP 25.4 billion from PHP 22.5 billion in the same period under review. Operating income, also improved by 17% to PHP 7.1 billion from PHP 6.1 billion. The growth was largely due to higher sales take-up on ready for occupancy (RFO) units from projects such as Princeton, M Place, Mezza II and Jazz Residences in Quezon City and Makati. RFO inventory went down by 34% to 2,374 units in 2016 from 3,617 units in 2015.

Consolidated costs of real estate increased by 9% to PHP 13.1 billion from PHP 12.0 billion of last year. This led to improved gross profit margin of 48% from 46% for the residential group; while the net income margin improved to 23% from 22%.

SMDC’s reservation sales grew by 18% in terms of sales value to PHP 46.7 billion in 2016 from PHP 39.4 billion last year. This translates to a 15% improvement on unit sales to 16,320 units from 14,227 units. The strong sales take-up was generated from projects that are within and near the Mall of Asia Complex in Pas City, namely S Residences, Shore 2 Residences and Coast Residences. For 2017, SM Prime is scheduled to launch 15,000 to 18,000 residential units that includes high rise, mid-rise and horizontal house and lot developments.

SM Prime’s Commercial Properties Group, contributed 3% to consolidated revenues, recorded a 32% increase to PHP 2.7 billion from PHP 2.1 billion year-on-year. This brought operating income growth to 57% to PHP 2.1 billion from PHP 1.3 billion the previous year, which in turn enhanced the operating income margin to 77% from 65%. The growth came from the new rental revenues from FiveE-comCenter, which is almost 100% occupied. The Commercial Properties Group has six office buildings, mostly in the Mall of Asia Complex in Pasay City, with an estimated GFA of 371,000 sqm. The ThreeE-ComCenter and FourE-ComCenter are currently under construction and are scheduled for completion in 2018 and 2020, respectively.

SM Prime’s Hotels and Convention Centers revenues posted a 32% growth to PHP 3.2 billion from PHP 2.4 billion in 2016. Operating income expanded 8% to PHP 549.5 million from PHP 507.7 million. Overall revenue growth is attributed to improvement in occupancy rates and the opening of Park Inn Clark in December 2015 and Conrad Manila in June 2016.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

For further information, please contact:
Alexander Pomento
Vice President, Investor Relations
SM Prime Holdings, Inc.
E-mail: alex.pomento@smprime.com
Tel. no.: +632 862 7940

Source: SM Prime Holdings, Inc.

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Prada opens its second store in Manila, Philippines

Milan, 2017-Jan-24 — /EPR Retail News/ — Prada opens its second store in Manila, Philippines, inside the prestigious Solaire Resort and Casino.

The space covers a total surface area of 105 square metres on a single level and houses the women’s and men’s leather goods and accessories collections.

The façade is defined by a backlit white canvas curtain enclosed in a crystal box, which frames the entrance, the wide light-boxes and the display windows.

The space is characterized by the signature black-and-white marble chequered flooring, a legacy of Prada identity worldwide, reinterpreted in an original way through geometric- patterned carpeting. The walls, covered with fabric in the shades of green, are graced by the classic Prada display niches.

Steel and glass countertops with brightly colored displays and Osvaldo Borsani’s green velvet chairs, reproduced exclusively for Prada, enrich the atmosphere.

Contact:
Prada Press Office
Tel. +39.02.541921
e-mail: ufficio.stampa@prada.com

Source: Prada

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Philippines: SM Investments Corporation (SMIC) Fixed Rate Peso Bonds Oversubscribed

Pasay City, Philippines, 2016-Dec-12 — /EPR Retail News/ — SM Investments Corporation (SMIC) will issue a total of Php20 billion worth of Series G retail bonds priced at 5.1590% due 2023, up from the initial offer size of only Php15 billion. The Series G bond issue was met by strong demand from a wide spectrum of investors ranging from individuals in the retail market to banks, investment funds, pension funds, insurance companies and other corporates. This prompted the issuer, through the joint lead underwriters and bookrunners, to fully exercise the issue’s Php5 billion oversubscription option at the end of the offer period, which opened on November 25, 2016 and closed on December 2, 2016. The bonds are set to be issued on December 9, 2016.

SMIC’s Series G bonds is the maiden issue from its Php50 billion bond shelf registration with the Philippine Securities and Exchange Commission. The bond proceeds are intended to finance future investments and strategic acquisitions in SMIC’s core business segments namely, property, retail and financial services.

SMIC’s bonds are rated PRS Aaa by Philippine Rating Services Corporation (PhilRatings), the highest rating assigned by PhilRatings. The rating denotes that such obligations are of the highest quality with minimal credit risk, and that the issuing company’s capacity to meet its financial commitment on the obligations is extremely strong.

The SMIC Series G bonds’ joint issue managers are BDO Capital & Investment Corporation and China Bank Capital Corporation, which also acted as joint lead underwriters and joint bookrunners together with BPI Capital Corporation and First Metro Investment Corporation. SB Capital Investment Corporation acted as co-lead underwriter of the bond issue.

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 is one of the more responsible companies in the country due 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; a strong portfolio of leading specialty retailers including Ace Hardware, SM Appliances, Homeworld, Our Home, Toy Kingdom, Watsons and others; and its food retail chains, namely SM Supermarket, SM Hypermarket, Savemore and WalterMart stores. SM’s property arm, SM Prime Holdings, Inc., is one of 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 leading bank and in China Banking Corporation (China Bank), the sixth largest private bank. Combined, these two banks have a network of over 1,400 branches nationwide.

For more about SM, visit www.sminvestments.com

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

Source: SM Investments Corporation

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NCR’s CxBanking software to help financial institutions in the Philippines offer seamless banking experience

MANILA, Philippines, 2016-Oct-06 — /EPR Retail News/ — NCR Corporation (NYSE: NCR), a global leader in omni-channel solutions, today (October 4, 2016) unveiled a new suite of integrated CxBanking solutions to help financial institutions in the Philippines  improve speed of service, reduce downtime and enhance customer experience.

“Banks are under enormous pressure to innovate as customers demand amazing experiences when and where they want, and on a platform of their choice to interact with their bank,” said Yiannos Papadopoulos, vice president, Southeast Asia Pacific, NCR. “This has led us to focus on the next generation of online and mobile services to complement traditional person-to-person interactions, creating an ‘always available’ 24/7 banking environment to ensure that banking customers have the flexibility and control in their hands to manage transactions wherever and however they choose.”

Innovative technologies launched today include the Cx110, first thin client ATM to run with Kalpana  creating a powerful hardware-software combination that revolutionizes self-service banking, a range of  next-generation ATM’s with deposit and recyling facilities viz. SelfServ 83, SelfServ 23, and SelfServ 27. These solutions  help financial institutions to implement convenient customer-centric technology that provides exceptional customer experience across digital and physical channels.

“NCR continues to lead the ATM market in the Philippines with innovations that are critical to help financial institutions enhance customer experience, reduce operating costs and increase security,” said Carlo Cruz, country manager, NCR Philippines. “Consumers and businesses want quick and easy access to banking services. Through our SelfServ ATMs and innovative omni-channel solutions, financial institutions in the Philippines will not only be able to offer customers fast, reliable access to their bank accounts but also offer banking services beyond traditional banking hours.”

NCR’s CxBanking software allows financial institutions to transform their ATM and Branch and offer seamless banking experience across physical and digital banking channels. It allows banks to engage and transact with consumers as well as manage this experience in a comprehensive manner supported by a robust enterprise application platform that easily integrates with existing bank infrastructure.

“Consumers want their banking experience to be digital, but also personal and NCR’s innovative CxBanking solutions allow customers to conduct routine tasks and initial research at their own pace, and at any time they wish across the banking channel of their choice,” said Matthew Heap, director, Marketing and Solutions Management, Asia Pacific for NCR Financial Services. “NCR’s latest customer experience software platform helps to improve customer service, while simultaneously freeing bank staff to interact with customers on other complex, high-value banking services. Our solutions significantly improve service standards and give customers more flexibility to choose which transactions they want to conduct themselves, and which they prefer assistance with.”

About NCR Corporation
NCR Corporation (NYSE: NCR) is the global leader in omni-channel solutions, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 550 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.

NCR is headquartered in Duluth, Georgia with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.

Web sites: www.ncr.com | www.ncrsilver.com
Twitter: @NCRCorporation
Facebook: www.facebook.com/ncrcorp
LinkedIn: www.linkedin.com/company/ncr-corporation
YouTube: www.youtube.com/user/ncrcorporation

Media Contact:
Rakesh Aulaya
NCR Corporation
912. 261. 954. 583
rakesh.aulaya@ncr.com

Source: NCR Corporation

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Philippines: SM Investments Corporation announces that PhilRatings assigned a PRS Aaa rating to its proposed bond issue

Pasay City, Philippines, 2016-Sep-28 — /EPR Retail News/ — SM Investments Corporation announced that the Philippine Rating Services Corporation (PhilRatings) assigned a rating of PRS Aaa to SMIC’s proposed bond issue of P15.0 Billion, with an over subscription option of P5.0 Billion, for a maximum aggregate amount of P20.0 Billion. The bonds are part of the shelf offering of up to P50.0 Billion in bonds that SMIC plans to undertake in the next three years.

The rating for SMIC’s outstanding bonds amounting to P27.3 Billion was likewise maintained at PRS Aaa.

PhilRatings assigned a Stable outlook for the ratings for the proposed and outstanding bonds.

PRS Aaa is the highest rating assigned by PhilRatings, denoting that such obligations are of the highest quality with minimal credit risk and that the issuing company’s capacity to meet its financial commitment on the obligations is extremely strong.

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, visit: 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 Investments Corporation

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Philippines: SM Investments Corporation approved Fixed Rate Bond Program with principal amount of Php50 Billion

Pasay City, Philippines, 2016-Sep-22 — /EPR Retail News/ — SM Investments Corporation announced today (September 21, 2016) that its Board of Directors approved a Fixed Rate Bond Program with a principal amount of Php 50 Billion under the 3-year shelf registration facility of the Securities & Exchange Commission. Initial issuance under this program is expected later this year in the amount of Php 15 Billion with an over subscription option of up to Php 5 Billion.

The Board of Directors also authorized Management to negotiate and finalize the terms and conditions, including pricing, tenor and any increase in issuance amount.

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, visit: 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 Investments Corporation

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Philippines: SM Investments to expand in Visayas and Mindanao

Cebu, Cagayan de Oro, Davao, Philippines, 2016-Aug-28 — /EPR Retail News/ — SM Investments Corporation (SM), one of the largest conglomerates in the Philippines, is committed to expand outside of Metro Manila where huge potential for growth is apparent.

In particular, Visayas and Mindanao contributed 26.9% to total Gross Domestic Product (GDP) in 2014 based on most recent data, growing at 5.6% and 7.4%, respectively. This compares well with Metro Manila’s growth of 5.9%. Population grew at an average rate of 1.9% in Mindanao, 1.4% in Visayas as GDP per capita increased by 2.4% in Visayas and 5.0% in Mindanao.

“VizMin is a new growth region for SM where significant opportunities await investors. Its underserved markets are hungry for the kind of aspirational products and services that SM tends to bring into its development,” Corazon P. Guidote, SM Senior Vice President for Investor Relations said.

SM has earmarked between PHP70 to PHP80 billion every year in an aggressive expansion bid in the Philippines, fueled by the local economy’s strong momentum. As a result of this capital commitment, SM further grew the bottomline by 11% to PHP15 billion in consolidated net income in the first half.

Since listing in the stock market in 2005, SM’s market capitalization grew by 19.8% per annum to PHP837.2 billion as of August 18, 2016 from PHP127.2 billion in 2005, reflecting the support from investors, particularly foreign institutional funds over the last 11 years.

SM Prime Holdings, SM’s property arm is spending the lion’s share of the capital as it further gears up for an aggressive expansion program in the next three years. This follows the opening of the 430,000 sqm SM Seaside Cebu in 2015, the company’s largest mall in Southern Philippines. The mall sits on  on SM’s flagship 30-hectare property designed to be a lifestyle city complex in Cebu’s SRP.

SM opened its first mall in the Visayas in 1993 with SM City Cebu which has been expanded given its highly successful run. Beside it stands the 396-room Radisson Blu which opened in October 2010. SM City Consolacion opened in Cebu in 2012 and SM Seaside City Cebu in 2015. Including the above-mentioned malls, SM Prime has a total of five malls in Visayas including SM City Iloilo and SM City Bacolod with a combined gross floor area of over 1 million square meters. In Mindanao, SM Prime has four malls—SM City Davao and SM Lanang Premier also in Davao, SM City Cagayan de Oro and SM City General Santos with a combined GFA of over 490,000 sqm.

“Mr. Sy is one of the prime movers in the South. He goes to places where few investors go and develops catalyst projects that eventually bring in other businesses into the area. This reinforces SM’s vision and creates a positive impact on the lives of its host communities. The market is ready and SM is ready to take on a more aggressive stance outside of its comfort zone,” Ms. Guidote said.

On the SM Seaside Complex will soon open a one-hectare Cebu Ocean Park which will be the first world-class marine theme park facility in the South. It is set to take SM shoppers on an educational, interactive, exciting and fun-filled marine life journey for kids and through its four main park attractions: the Oceanarium that will feature an acrylic enclosure allowing for a 360 degree view of the main lagoon, Stingray and Crocodile Encounters, Sea Lion and Bird Shows, and Jellies and Penguin Exhibits. Convention rooms will also be developed for tourism and education related facilities.

As the anchor development, SM Seaside City is slated to transform the city’s landscape into a business tourism and entertainment destination as SM Prime adds offices, an arena, a five-star hotel, convention centers and residences. Apart from malls, SM Prime also has hotels in the VizMin region, namely Radisson Blu hotel in Cebu and Park Inn in Davao. It also has convention centers, namely SMX Bacolod, SMX Davao and the Cebu Trade Hall.

In retail, SM’s department store business under SM STORE recently opened in Cebu’s SM Seaside City which is aligned with the mall’s accelerated growth in the provincial territories. Mr. Henry Sy in fact opened a shoe store in Cebu as early as 1965 and his first Shoemart department store in the Visayas, partcularly in Iloilo in 1979.   Today there are six department stores operating in Visayas particularly in Cebu, Mandurriao, Delgado in Iloilo, Bacolod, Consolacion in Cebu and Cebu SRP and four in Mindanao particularly Davao, Cagayan de Oro, General Santos, and Lanang in Davao.

SM Markets, SM’s food retail arm which consists of the brands SM Supermarket, SM Hypermarket and Savemore, continued to aggressively expand in both urban and rural communities in various parts of Luzon, Visayas and Mindanao.  SM Markets today follows a multi-format growth strategy to address the lack of organized retail in many parts of the country, largely diversifying from its previous strategy of operating anchor stores in malls.  In Visayas and Mindanao, SM Markets has a total of 42 stores.

In banking, BDO Unibank, the country’s largest bank acquired One Network Bank (ONB), the largest rural bank in Mindanao. The acquisition of ONB expands the regional presence of BDO  particularly in its target market in the southern Philippines’ consumer base and opens up business lines for the bank.  BDO Unibank has a total of 182 branches in Visayas and Mindanao and over 100 branches under One Network Bank in the region. On the other hand, China Banking Corp. has 87 branches in VizMin and 16 branches under China Bank Savings in the region.

“Overall, SM continues to be a long-term growth story. It aims to further create value for all its shareholders by tapping on the huge potential that the Philippines offers to those committed to the welfare of its people and the country’s development,” Ms. Guidote said.

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 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 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). Combined, these two banks have a network of over 1,000 branches nationwide.

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 www.sminvestments.com

Source: SM Investments Corporation

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Philippines: SM Prime Holdings registered 12% growth in its core net income during first half of 2016

Pasay City, Philippines, 2016-Aug-01 — /EPR Retail News/ — SM Prime Holdings, Inc. (SM Prime), the Philippines’ leading integrated property company, registered a 12% growth in its core net income to PHP 12.6 billion from PHP 11.2 billion. This was supported by a 9% increase in consolidated revenues to PHP 39.2 billion from PHP 35.9 billion in the first half of 2016.

“SM Prime’s integrated development program in the Philippines that is geared more towards provincial expansion sustained its financial performance in the first half of the year. SM Prime is well-positioned for higher growth given that the Philippines’ economic upturn is starting to spread in the provinces,” SM Prime President Hans T. Sy, said.

In the first half of 2016, mall revenues achieved a 9% increase to PHP 23.6 billion from PHP 21.7 billion of the previous year. It contributed 60% to SM Prime’s consolidated revenues, of which, 85% is accounted for rentals. Mall revenues were driven by the 7% growth in same-malls-sales and contribution from the new retail space that were added in the past two years. Operating income of the malls increased by 9% to PHP 13.2 billion, maintaining its last year’s operating income margin of 56%. Moreover, cinema and event ticket sales, accounted for 10% of malls’ consolidated revenues, reached PHP 2.4 billion in the first half of the year, almost same level from last year.

The mall operations in China, which accounted for 9% of mall revenues, generated PHP 2.1 billion, up by 8% from PHP1.9 billion in the first half of 2016. Operating income, likewise, improved by 11% to PHP 1.1bn. The China malls posted an operating income margin of 51% from 50% of the same period last year.

Currently, SM Prime has a total of 58 malls in the Philippines and six in China with a total gross floor area (GFA) of 8.5 million sqm. The company is scheduled to open two more malls this year namely Cherry SM Congressional in Quezon City and SM City East Ortigas in Pasig City. SM Prime is also expanding SM Center Molino in Cavite and SM City San Pablo in Laguna this year.

SM Prime’s residential group, which accounted for 34% of consolidated revenues, posted a 6% increase to PHP 13.2 billion from PHP 12.5 billion of the same period last year. Operating income grew by 5% to PHP 3.9 billion from PHP 3.7 billion. The increase is primarily driven by the higher construction accomplishments of SM Development Corporation (SMDC) projects launched from 2013 to 2015 such as Princeton Residences, M Place Residences, Mezza II Residences and Jazz Residences in the cities of Quezon and Makati. Meanwhile, consolidated costs of real estate increased by only 4% to PHP 7.0 billion as the group was able to contained construction costs. This resulted to further improvement of gross profit margin to 47% from 46%, while net income margin is maintained at 24% from the same period last year.

Reservation sales bounced back in the second quarter posting PHP 14.5b billion from PHP 8.1 billion in the previous quarter. This allowed SMDC to post a 20% growth in sales value in the first six months of 2016 to PHP 22.6 billion from PHP 18.8 billion. The housing group reported an 18% increase to 8,091 unit sales from 6,868 units of the same period last year. These were largely generated from recently launched Shore 2 Residences, Coast Residences and S Residences, all in Pasay City. For the rest of the year, SM Prime plans to launch additional 6,000 to 8,000 units in the cities of Quezon, Pasay and Tagaytay, and economic housing in the provinces of Bulacan, Cavite and Cabanatuan.

The Commercial Properties Group, which contributed 3% of SM Prime’s consolidated revenues, recorded a 51% increase of PHP 1.1 billion. Operating income doubled to PHP 762.8 million, translating a 68% operating income margin in the period being reviewed. The significant growth is boosted by the opening of SM Cyber West in Quezon City and Five E-Com Center in Pasay City, with a combined GFA of 171,000 sqm. These office buildings have an occupancy rate of 100% and 99% respectively.

SM Prime’s Commercial Properties Group presently has six office buildings mostly at the Mall of Asia Complex in Pasay City with an estimated GFA of 371,000 sqm. ThreeE-Com and FourE-Com Centers, on the other hand, are under construction and scheduled for completion in 2017 and 2018, respectively.

The Hotels and Convention Centers business opened the 154-room Park Inn Clark in Pampanga last December. SM Prime also launched the 347-room Conrad Manila last June, situated atop of S’ Maison – a two-level high-end retail podium in Pasay City.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

For further information, please contact:

Alexander Pomento
Vice President, Investor Relations
SM Prime Holdings, Inc.
E-mail: alex.pomento@smprime.com
Tel. no.: +632 862 7940

Source: SM Prime Holdings, Inc.

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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

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Philippines: SM Prime Holdings issues PHP10 billion fixed rate bonds due on 2026

Makati, Philippines, 2016-Aug-01 — /EPR Retail News/ —SM Prime Holdings,Inc. (SM Prime) marked its 3rd listing of retail bonds with its issuance of PHP10 billion fixed rate bonds due on 2026.

With SM Prime’s bond issuance, the total listed amount of the SM Group on PDEx shall be PHP84.83 billion, representing 14.47% of the total corporate fixed-income issues in the organized secondary market.

For this series, SM Prime has set the interest rate for its Peso-denominated Series F, 10-year retail bonds at 4.2005% p.a. with an aggregate principal amount of PHP 10 billion. This is part of the 3-year shelf registration with an aggregate amount of PHP 60 billion.

PDS Group President & CEO Cesar B. Crisol said: “PDS Group has long admired SM Prime’s plans and efforts to expand and develop the country’s up and coming regional cities. And as SM Prime has been executing this strategy for many years now, one may easily cite the firm as being one of earliest advocates of “inclusive economic growth.”

The Directors and Officers of SM Prime who attended the event are SMPH President Hans T. Sy, Executive Vice President Jeffrey C. Lim, Chief Finance Officer John C. Ong, Finance Vice President Teresa Cecilia Reyes-Agsalud, Investor Relations Vice President Alexander D. Pomento, Treasury Assistant Vice President Maricel A. Ranola, and SM Investments Corporation Treasury Senior Vice President Marcelo C. Fernando Jr.

Also present are representatives from the Joint Issue Managers, Joint Bookrunners, and Joint Lead Underwriters, including BDO Capital and Investment Corporation Senior Vice President Gabriel U. Lim, China Banking Corporation First Vice President Virgilio O. Chua, First Metro Investment Corporation Senior Executive Vice President Rabboni Francis B. Arjonillo, and Bank of the Philippine Islands Executive Vice President Dennis M. Montecillo.

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people.

For further information, please contact:

Alexander Pomento
Vice President, Investor Relations
SM Prime Holdings, Inc.
E-mail: alex.pomento@smprime.com
Tel. no.: +632 862 7940

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(Left to right) SM Prime’s VP for Investor Relations Alexander D.Pomento, Chief Finance Officer John C. Ong, Executive Vice President Jeffrey C.Lim, VP for Finance Teresa Cecilia Reyes-Agsalud, AVP for Treasury Maricel A. Ranola, President Hans T. Sy, and SM Investments SVP for Treasury Marcelo C. Fernando Jr.
(Left to right) SM Prime’s VP for Investor Relations Alexander D.Pomento, Chief Finance Officer John C. Ong, Executive Vice President Jeffrey C.Lim, VP for Finance Teresa Cecilia Reyes-Agsalud, AVP for Treasury Maricel A. Ranola, President Hans T. Sy, and SM Investments SVP for Treasury Marcelo C. Fernando Jr.

 

Source: SM Prime Holdings,Inc.

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Philippines: SM Prime Holdings to offer to the public up to Php60 billion worth of Bonds

Pasay City, Philippines, 2016-May-17 — /EPR Retail News/ — SM Prime Holdings, Inc. (SMPH) announced today that its Board of Directors approved the offering to the public of up to Php60 billion worth of Bonds (the ”Bonds”). The Bonds will be filed under a shelf registration to be issued for a period of three (3) years, with an initial offering of up to Php5 billion with an over subscription option of up to Php5 billion worth of Fixed rate bonds, with maturity of 10 years (the “Series “F” Bonds”).

The Board of Directors also authorized the management to negotiate and finalize the terms and conditions, including pricing, tenor and any increase in issuance amount, and execute any and all documents necessary, to implement the retail bond issue.

-End-

For further information, please contact:

Ms. Teresa Cecilia H. Reyes
Vice President, Finance
SM Prime Holdings, Inc.
E-mail: teresa.cecilia.reyes@smprime.com
Tel. no.: 831.1000 loc. 7820