SM Investments Corporation (SMIC), also known as SM Investments or informally as the SM Group is a holding company with interests in shopping mall development and management, retail, real estate development, banking, and tourism, founded by Henry Sy, Sr. It has become one of the largest conglomerates in the Philippines, being the country's dominant player in retail with 208 stores nationwide. Of these, 47 are SM Department Stores; 38 are SM Supermarkets; 37 are SM Hypermarkets and 86 are SaveMore branches.
It is the largest company in the Philippines in terms of market capitalization, and has repeatedly ranked as the top Philippine company in the Forbes Global 2000.
Video SM Investments Corporation
History
In 1958, Sy's first company, Shoemart (SM), started in Carriedo, Manila. He initially focused on buying large supplies of shoes from the United States. His business expanded as he transformed his shoe store into a department store.
At this point, Sy set up his second company, SM Department Store Inc., and began selling stocks to department stores. In 1978, he began buying supermarkets at the northern end of EDSA in Quezon City. During the 90s when he opened SM Megamall, his companies were listed in the Philippine Stock Exchange, SM Prime Holdings Inc. By 2005, the SM Investments Corporation was inaugurated.
In April 2017, SMIC appointed Jose Sio as CEO.
Maps SM Investments Corporation
Subsidiaries
- Retail and malls
SM Investments Corporations' shopping malls which are branded as "SM Supermalls" are operated by its subsidiary, SM Prime Holdings. The conglomerate's other retail business are under its subsidiary, SM Retail which owns SM Markets (comprising SM Supermarket, SM Hypermarket, and Savemore), The SM Store, and various other local retail brands.
- Banking
- Banco De Oro
- China Banking Corporation - 30% ownership
- Real estate property
- SM Development Corporation (SMDC) is a residential property developer which focuses on the premium middle market. SMDC now operates SM Residences and MPlace.
- Highlands Prime, Inc. is a residential developer in Tagaytay Highlands, a mountainside resort and residential complex.
- Mall of Asia Complex is an alternative business and tourism district, as well as the home of the SM Mall of Asia, SMX Convention Center (the largest private venue in the Philippines), OneE-com Center and Mall of Asia Arena (one of the largest private sports venues in the Philippines). The Mall of Asia Complex occupies 60 hectares of land along the coast of Manila Bay, offering locations for business, tourism, retail, and leisure projects.
- Hamilo Coast is a large-scale eco-tourism project to develop in phases 5,700 hectares of land by the sea in Nasugbu, Batangas into a network of coastal resort communities.
- Since November 2014, the consortium of SM Investments and the family of Francisco Ortigas has owned 37% of OCLP Holdings, the parent of Ortigas & Company.
- Mining
- Atlas Consolidated Mining and Development Corporation is engaged in gold mining operations.
- Hospitality and convention centers
- SM Hotels and Conventions operates Conrad Manila in Pasay City, Taal Vista Hotel in Tagaytay City, Radisson Hotel in Cebu, Pico Sands at Pico de Loro in Nasugbu, and Megatrade Hall in Mandaluyong City and Cebu.
- SMX Convention Center (SMX) is a convention center located within the Mall of Asia complex for hosting conventions, seminars, and conferences. Its first branch opened on November 26, 2007. It also has branches in SM Lanang Premier in Davao City and SM Aura Premier in Taguig City, which opened on September 12, 2012, and May 17, 2013 respectively. It will soon open in SM City Bacolod in September 2014, SM Seaside City Cebu in 2015 and in SM City Clark.
- SM Mall of Asia Arena is a venue which hosts concerts and other big events, opened on June 16, 2012. Its seating capacity is 16,000 and it hosted the 2013 FIBA Asia Championship. It is one of the largest arenas in the Philippines. In 2013, the SM Group announced that there will be another arena of a different name in SM Seaside City Cebu in Cebu City.
- Gaming
- Belle Corporation is Henry Sy's foray in the gaming industry in the Philippines, hoping to capitalize the future of Pagcor's entertainment city.
Social involvement
SM Foundation is the corporate responsibility arm of the SM Group of Companies. The foundation has various areas of advocacy: education, scholarship programs, building schoolhouses, a mall-based outreach program, health care, medical missions, mobile clinics, hospital activity centers and religious community projects.
SM Cares
SM Cares is a program created to consolidate and coordinate all of SM Prime's corporate social responsibility (CSR) initiatives. Carried out in all 40 SM malls nationwide, SM Cares' CSR projects cover environmental conservation (energy, air and water), and assistance to customers of SM malls with special needs such as the disabled, special children, the elderly and nursing mothers.
Other subsidiaries
- International Toyworld Inc. is a subsidiary of SM which deals with American-branded and local-branded toys.
See also
- SM Prime Holdings
- SM City North EDSA
- Banco de Oro
References
External links
- Official website
- SM Prime Holdings website
Source of article : Wikipedia
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