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SM Prime set to invest P400B in PH, China deals

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SM Prime Holdings, now one of the leading property developers in Southeast Asia, is investing at least P400 billion to further scale up its businesses in the Philippines and mainland China.

Posted: April 16th, 2014 in Headlines | Read More »

SM Prime earnings hit P16.2B in 2013

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The SM group’s real estate businesses under SM Prime Holdings chalked up a net profit of P16.27 billion in 2013, the first year of consolidation.

Posted: February 25th, 2014 in Headlines | Read More »

Bacolod court denies SM plea

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The Bacolod Regional Trial Court has denied the petition of SM Prime Holdings Inc. (SMPHI) to declare it the winning bidder of the 7.7-hectare prime property of the Negros Occidental provincial government in Bacolod City, Gov. Alfredo Marañon Jr., said Monday.

Posted: February 4th, 2014 in Headlines | Read More »

Biz Buzz

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It’s no secret that one reason for the long delay in the implementation of the elevated connector road tollway project was that at least one influential Cabinet official wanted Philippine National Construction Corp. president Luis Sison replaced.

Posted: February 2nd, 2014 in Headlines | Read More »

SM bags int’l plum for property merger

The merger that turned SM Prime Holdings Inc. into the largest property firm in Southeast Asia earned for the group of tycoon Henry Sy the “most innovative deal” award from Alpha Southeast Asia, a financial magazine based in Hong Kong.

Posted: January 16th, 2014 in Headlines | Read More »

SM defers China listing plan

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Artist’s perspective of SM City Chongqing. SM Prime Holdings Inc. is shelving for now plans to take its mall business in China public as the company’s top official said they have yet to achieve the required scale. FROM SMCITY.CN

SM Prime Holdings Inc., the property arm of Henry Sy’s SM Investments Corp., is shelving for now plans to take its mall business in China public as the company’s top official said they have yet to achieve the required scale.

Posted: November 22nd, 2013 in Latest Business Stories | Read More »

Car import loophole shut

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Some businessmen who are engaged in importing high-end luxury cars to the Philippines haven’t been too cheerful lately, it seems.

Posted: October 29th, 2013 in Editor's Pick,Headlines | Read More »

Biz Buzz

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Shares of SM Prime Holdings—soon to be the largest property firm in Southeast Asia—sizzled on Friday on speculation that the company’s weight in the main-share Philippine Stock Exchange index had surged to 6.01 percent from 3.3 percent.

Posted: October 27th, 2013 in Headlines | Read More »

SM Prime net income as of June up 15%

Giant shopping mall operator SM Prime Holdings grew its first-semester net profit by 15 percent year-on-year to P5.64 billion, due to the opening of more malls alongside higher rental income from its existing network.

Posted: July 29th, 2013 in Headlines | Read More »

SM Prime nets P5.64B in 1st half of 2013

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SM Prime Holdings

The country’s largest shopping mall operator SM Prime Holdings grew its first-semester net profit by 15 percent year-on-year to P5.64 billion as the opening of new malls and higher rental income from existing mall network sustained earnings expansion.

Posted: July 29th, 2013 in Latest Business Stories | Read More »

SM Prime taps solar power for Xiamen mall

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sm-prime

Property giant SM Prime Holdings Inc. has harnessed solar power for its shopping mall in Xiamen, pioneering such strategy in this city in the Fuijian Province of China, citing a commitment to reduce greenhouse emissions and optimize energy efficiency in its malls.

Posted: July 15th, 2013 in Latest Business Stories | Read More »

Biz Buzz: Huge gov’t windfall

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If there is one party that stands to have a clear-cut gain from the merger of SM property units into SM Prime Holdings, it is the government. The Bureau of Internal Revenue stands to collect capital gains, transfer, documentary stamp and other taxes arising from the P279-billion share-swap transaction alongside fees to be paid to the Securities and Exchange Commission. The taxes and fees that the group would pay for the deal were estimated at P6.5 billion, said SM Prime Holdings chief finance officer Jeffrey Lim.

Posted: June 3rd, 2013 in Editor's Pick,Headlines | Read More »

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