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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

Why Did SM Withdraw Its Bid to Take Over Goldilocks Bakeshop?

This comes less than a month after the Philippine Competition Commission approved the takeover

SM Group’s property and retailing unit SM Retail Inc. has withdrawn its acquisition bid over bakeshop and restaurant chain Goldilocks Bakeshop Inc. on Thursday, February 1.“Regarding the proposed acquisition by SM Retail of Goldilocks, both SM and Goldilocks have jointly agreed not ...

by Pauline Macaraeg  | February 01, 2018 03:00:00
News and Events

Goldilocks Vs Red Ribbon: Who's Winning the Battle of the Cake Makers?

The potential entry of the SM Group into Goldilocks could heat up competition even more

A celebration of any momentous occasion, from birthdays to weddings, is incomplete without cake. In the Philippines, two brands come to mind when serving celebration cakes on the dining table, Goldilocks Bakeshop and Red Ribbon.It may now seem like the two bakeshop ...

by Elyssa Christine Lopez  | September 18, 2017 09:00:00
News and Events

Becoming Big Brother: How SM Group’s Early Support Spurred the Rise of Davao Tycoon Dennis Uy

Phoenix Petroleum founder recalls how BDO’s first clean loan helped the oil company grow

Long before entrepreneurship advocate Jose Ma. “Joey” Concepcion III launched the Mentor Me Program where big business leaders act as some sort of “big brother” to small business owners, an early version of the relationship was already playing out between the country’s ...

by Elyssa Christine Lopez  | September 15, 2017 09:00:00
News and Events

SM Group and Teresita Sy-Coson's Top Concern: 'Prevent Our Business from Becoming Obsolete'

SMIC vice chairperson reveals why the conglomerate keeps changing in a report for the 15th MAP International CEO Conference

Despite being the country’s most valuable listed company whose subsidiaries are leading players in the banking, property and retailing industries in the Philippines, SM Investments Corp. (SMIC) is not immune from worries about its future prospects. The group was founded by Henry ...

by Roel Landingin  | September 11, 2017 06:00:00
News and Events

SM Group Founder Henry Sy Sr. is PH’s Richest Person for 10th Year in a Row

The chairman of the country’s biggest shopping mall and property company posted a net worth of $18 billion in 2017, according to Forbes magazine

by Lorenzo Kyle Subido  | August 24, 2017 06:00:00
News and Events

Sy and Banatao-Backed AI Startup Ready to Roll Out Technology That Could Attract High-Value BPO Work to PH

Pioneer technopreneur says the solution has potential to triple projected call center revenues

An AI startup supported by technology entrepreneur Diosdado “Dado” Banatao and Henry “Big Boy” Sy Jr., son of the Philippines’ richest person, is getting ready to roll out its technology with the potential to help local business process outsourcing (BPO) service providers ...

by Roel Landingin  | August 22, 2017 03:00:00
News and Events

Henry Sy Jr, Dado Banatao Back Startup to Help BPOs Cope with Automation Threat

Their answer is to combine artificial with human intelligence

(From left to right) Diosdado Banatao, George Yang and Henry "Big Boy" Sy Jr. are teaming up on a startup aimed at helping BPOs cope with the rise of automationHenry "Big Boy" Sy Jr., son of the Philippines' richest man, and technology ...

by Entrepreneur Staff  | January 30, 2017 11:00:00
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