The Philippine economy continues to be resilient as it catches up with the rest of the growth in the Asian region, says SM Investments Corporation (SM) Vice Chair Teresita Sy-Coson in a recent panel discussion at the Milken Institute 2017 Asia Summit held in Singapore last September 14 to 15.
“The Philippines has not grown as fast as its neighbors in the last decade so we are catching up now. Distribution of wealth is going to the provincial areas. Right now, our businesses have been developing throughout the country,” SM’s Sy-Coson said.
Amid recent geopolitical uncertainties, Ms. Sy-Coson said the overall business outlook remains optimistic and that SM continues to focus on the Philippines.
“There are geopolitical fears, climate change, and digital disruptions. New technology will bring a different way of doing things and as long as we make efforts to stay relevant, our businesses will still be there,” Ms. Sy-Coson said.
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 the 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: smicweb.smicit.com
For further inquiries, please contact:
Ms. Corazon P. Guidote
Senior Vice President for Investor Relations
SM Investments Corporation
E-mail: cora.guidote@sminvestments.co
Tel. No. (632) 857-0117