Bloomberg News

SM Investments Plans to Accelerate Expansion, CFO Sio Says

October 14, 2011

Oct. 14 (Bloomberg) -- SM Investments Corp. plans to open 20 new retail outlets annually in the the next three years, Chief Financial Officer Jose Sio said in a forum today.

SM Prime Holdings Inc., a unit of the company, will “accelerate” expansion and plans to open three malls annually in the Philippines and two malls in China in the next three years, Sio said in Manila. Banco de Oro Unibank Inc., the nation’s biggest lender and unit of SM, aims to be a regional player, he said.

--With assistance from Ian Sayson in Manila.

To contact the reporter on this story: Cecilia Yap in Manila at cyap19@bloomberg.net

To contact the editor responsible for this story: Clarissa Batino at cbatino@bloomberg.net


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