SM Investments increasing capital to P12b to fund infra

Manila Standard Today (March 2013) - Conglomerate SM Investments Corp. is increasing its capital base to P12 billion from P7 billion to support ventures in the infrastructure sector and finance expansion projects.

SM Investments said in a filing with the Philippine Stock Exchange it would submit the proposed capital increase to its board of directors and stockholders for approval.

SM Investments chief finance officer Jose Sio confirmed in a text message the  capital hike would support company’s investments in infrastructure projects as well as expansion projects.

SM Investments was one of the companies that acquired bid documents for the P17.5 billion, Mactan-Cebu International Airport project. The conglomerate also teamed up with Metro Pacific Investments Corp. to build a P15.5-billion expressway project that will link the terminals of the Ninoy Aquino International Airport with each other and to the government-sponsored Pagcor Entertainment City.

SM Investments’ operating units are on the expansion mode. Its shopping mall unit SM Prime plans to launch SM Aura Premier in Taguig and SM City Cauayan in Isabela this year.

SM Retail is opening two department stores, two supermarkets, 19 SaveMore branches and seven hypermarkets.

The group’s residential unit, SM Development Corp., plans to launch at least three new projects in Metro Manila.

SM Hotels is set to open Park Inn hotel in Davao this quarter while subsidiary SMX Manila will launch SMX Convention Center in Taguig next month.

SM Investments earlier reported a net income of P24.7 billion in 2012, up 16.3 percent from P21.2 billion in 2011.

Consolidated revenues increased 12 percent to P223.9 billion from P199.9 billion in the previous year.
Banking unit BDO Unibank Inc. accounted for the largest share of SM Investments’ consolidated net income, contributing 34.4 percent of the total. Retail operations accounted for 28.1 percent, followed by mall operations at 22.9 percent and property development at 14.6 percent.

The group has earmarked P65 billion for capital expenditures this year.

For more details on SMDC Residential Projects, you may contact Reby Ramirez: 0922.883.9308 / 0916.4044.555 / 0919699.3572 or reby_ramirez@yahoo.com.

For latest information on the Philippine Real Estate Industry and the Real Estate Service Act (RA9646), please visit www.ra9646.com.ph.   

SM Prime opens 5th mall in China

Malaya - SM Prime Holdings, Inc., the country’s largest mall developer and operator recently opened SM City Chongqing, its fifth mall in China.  Located in Southwest China, it is the country’s fifth shopping mall in China after SM City Xiamen, SM City Jinjiang, SM City Chengdu, and SM City Suzhou.

Known as the Chicago of the East, Chongqing is one of the four municipalities directly under the Central Government of China after Beijing, Shanghai, Tianjin, and Guangzhou.

An economic center upstream of the Yangtze River, Chongqing’s three thousand years of history highlights the broad and deep Bashu culture, where the root of prosperity is rooted.

Today, Chongqing has several economic and technological zones and is a major railway hub.  The city also boasts of cultural heritage and natural attractions, and is the starting point of the Yangtze River Cruise, which explores the impressive scenery of China’s Three Gorges.

The 149,080 square meter six -level mall is located in Chongqing’s rapidly developing Yubei district.  With its strategic location and transport accessibility, the mall will serve a population of approximately 30 million residents in the city of Chongqing.

SM City Chongqing’s exterior design features “fish scale” panels accented by lighting a “fish scale” overlaps.  Slanted glass panels define entrances at the lobby, giving customers a grand welcome.

Customers get a grand welcome as they enter as beige tones create a warm, cordial, and clean feeling.  Huge skylights not only give customers a sense of awe, but also providing the mall with natural lighting, making it environmentally friendly.

Navigating around the mall is easy, as the planning of retail shops focuses on the circulation flow.  A dazzling array of beautiful exhibits of goods can be seen through either sides of the mall lobby to enhance the shopping experience.

With 85% of the mall awarded to various tenants, SM City Chongqing offers a mix of local and international stores with Vanguard Supermarket, SM Department Store, and Wanda Cinema as its anchor tenants.  Junior anchors include Vera Moda, Ongly, Jack & Jones, Watsons, Starbucks, and Kidswant.

SM City Chongqing is the sixth SM mall to be opened by SM Prime this year after SM City Olongapo in Zambales. SM City Consolacion in Cebu, SM San Fernando in Pampanga, SM City General Santos in Cotobato, and SM Lanang Premier in Davao.

SM Prime now has a total of 51 malls in the Philippines and in China with a combined GFA of 6.3 square meters.


For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.ph.