23 May 2014. Pasay City, Philippines) SM Prime Holdings, Inc. President Hans T. Sy (extreme right) joins the Bloomberg Leadership Forum which examined the Philippines’ growth as Southeast Asia moves towards an ASEAN Economic Community.
SM Prime is the property arm of SM Investments Corporation which operates malls, residences, hotels, convention centers and resorts.
Mr. Sy emphasized that there is still more room for growth especially for both large and small corporations in the country.
“We may be big here but if you compare us with WalMart, in terms of sales revenues we are just barely 5%, and in terms of size we are just about 20%. How do we look at it? I would look at it as there are still a lot more opportunities to grow,” Sy said.
He also said that SM has supported SMEs as it has provided a venue for tenants to expand with the growth of malls in the country. SM has 48 malls in the country and five in China. SM also directly and indirectly supports the economy. SM brings employment to thousands of Filipinos. Its over 180, 000 regular employees are growing in number. In addition, it supports thousands more indirectly through its long-standing relationship with thousands of suppliers, building contractors and tenants.
For further information, please contact:
Ms. Corazon P. Guidote
Senior Vice President for Investor Relations
SM Investments Corporation
Tel. No. 857-0117
Friday, May 23, 2014