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News and Events

SM in Talks to Buy Goldilocks Minority Stake Months After Backing Out of Acquisition Deal

The conglomerate is eyeing to buy a 34% stake in the country's largest bakeshop chain

Listed retail and real estate conglomerate SM Investments Corp. is in talks to acquire a 34-percent stake in bakeshop and restaurant chain Goldilocks Bakeshop Inc., according to a report by the Philippine Daily Inquirer.“A spokesperson from SM confirmed to the Inquirer that ...

by Lorenzo Kyle Subido  | August 13, 2018 12:00:00
News and Events

How SM's Henry Sy Started with Ten Centavos and Became Southeast Asia's Richest Man

SM is celebrating its 60th anniversary this year

Henry Sy opened the first Shoemart in 1958 after he had saved enough from selling surplus G.I. boots. Little did he know that 60 years later his small store would become the behemoth that it is today. From a small shoe store ...

by Paolo Chua for TownandCountry.ph  | June 05, 2018 12:00:00
News and Events

SM At 60: How a Humble Shoe Store Became a Global Conglomerate

Tessie Sy-Coson looks back at his father Henry Sy's life's work

In 1958, humble shoemaker Henry Sy Sr. opened the countryâs first Shoemart branch in Manila.The business owner never imagined how big of a retail giant his unassuming shoe store would become. Or that he would be the richest man in Southeast Asia ...

by Hannah Lazatin for TownandCountry.ph  | May 29, 2018 12:00:00
News and Events

How Did Henry Sy's Net Worth Grow to $20 Billion?

A close look at the listed corporate holdings of the Philippines’ richest person

SM group founder Henry Sy Sr. had a net worth of $20 billion as of February 2018, according to business magazine Forbes’ latest listing of the world’s dollar billionaires. That not only extended his title as the richest man in the Philippines, ...

by Lorenzo Kyle Subido  | March 12, 2018 09:00:00
Run & Grow

Financial Adviser: 5 Blue Chip Stocks Investors Can Buy During Stock Market Fall

Despite the supposed "crash," there's no reason to get out of the market yet

The stock market has lost as much as 400 points so far this week after the US market plummeted by more than 1,700 points in two days on fears of rising interest rates. The Philippine Stock Exchange (PSE) Index has already lost 7.5 ...

by Henry Ong  | February 06, 2018 04:00:00
News and Events

SM, Robinsons or Puregold: Who's the Biggest Supermarket Chain of Them All?

The answer depends on the year and whether you just look at single firms or the entire group

In August 2017, international grocery market analyst IGD projected that the Philippines will become the fifth largest grocery retail market in Asia by 2021, after China, India, Japan and Indonesia. With grocery retail sales already at Php4.5 trillion in 2016, IGD estimated ...

by Lorenzo Kyle Subido  | January 22, 2018 09:00:00
News and Events

PayMaya, GCash QR Code Tech Can Now be Used for Payments in The SM Store and Other Large Retailers

The two telco-powered mobile wallets are slowly working toward the BSP’s vision of a cashless Philippines

Last January 17, PLDT-backed mobile wallet operator PayMaya formally launched a partnership with The SM Store, the department store unit of mall operator SM Prime Holdings, allowing consumers to use the app’s scan-to-pay feature when buying from the retailer. Though PayMaya began ...

by Lorenzo Kyle Subido  | January 18, 2018 02:00:00
News and Events

How Would PH Billionaires Fare if They Were Part of Forbes’ 400 List of Richest People in America?

Henry Sy Sr. would land on the 25th spot while John Gokongwei Jr. would be 97th in the US rankings

Forbes magazine released the 2017 Forbes 400 list of the wealthiest people in America in October. Bill Gates led the 36th edition of the annual list with a net worth of $89 billion, followed by Jeff Bezos with $81.5 billion.The minimum net ...

by Pauline Macaraeg  | November 27, 2017 01:00:00
News and Events

Undas 2017 Shopping Mall Schedule

Here’s a guide to opening and closing times of shopping malls on Nov. 1 and 2, 2017

Most shopping malls are open this All Saints’ Day (Nov. 1, Wednesday) and All Souls’ Day (Nov. 2, Thursday) though opening hours can vary from the usual. Some shopping mall operators published special operating schedules for Nov.1 and 2. We summarize the ...

by Pauline Macaraeg  | October 31, 2017 10:00:00
News and Events

PH’s Biggest Property Builder Selling 7-Year Bonds That Pay 5.17% p.a.

SM Prime Holdings’ bond offering lasts until May 11 and requires minimum investment of Php20k

SM Prime Holdings Inc., the Philippines’ largest property company by market value, is selling seven-year retail bonds that pay a fixed annual coupon rate of 5.1683 percent.The fresh borrowing aims to raise Php20 billion to fund capital expenditure projects of the company ...

by Lorenzo Kyle Subido  | May 04, 2017 12:00:00
News and Events

Take a Peek: How the Common Station for MRT3, LRT1 and MRT7 Will Look Like

Construction of the project is scheduled to begin December 2017 and finish by April 2019

The DOTr released this image of the planned Common Station that will link the MRT3, LRT1 and the soon-to-be-constructed MRT7. It also shows the station's old location in 2009 and 2014  With the signing of the memorandum of agreement by the government and ...

by Entrepreneur Staff  | January 18, 2017 02:00:00
Business Ideas

A Pure & Fresh fight: Local dairy goes head-to-head with giants

Agriculturalist Eduardo Soriano makes great business by disturbing the market

 Agriculturalist Eduardo Soriano likes things complicated.In the early 1990s, he bought four hectares of idle land from his family’s corporation, establishing a dairy farm that would eventually be called Hacienda Macalauan Inc. “Very few people have the desire to do [dairy farming]. ...

by Entrepreneur Staff  | October 09, 2016 12:00:00
Run & Grow

How SM malls conquer China

Its Chengdu mall will undergo a facelift for its 10th year, while SM City Tianjin, said to become the largest in China, will fully open in 2017.

10TH YEAR. SM City Chengdu will undergo a facelift on its 10th anniversary this year. Photo by Lynda C. Corpuz / Entrepreneur PhilippinesHomegrown SM supermalls of Henry Sy—the richest man in the Philippines—is not stopping in its plan to become a household ...

by Lynda C. Corpuz  | April 11, 2016 08:00:00
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