In a statement released today, SM Investments Corp. (SMIC) (PSE: SM) has clarified that the company named SM Investments Pte Ltd (SMI SG), a private limited company registered in Singapore—a joint venture between the Salim Group and the Medco Group of Indonesia—is not associated with SMIC in any manner.
SM Investments is a leading Philippine company that is invested in businesses in retail, banking and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy. Founded by Henry Sy Sr., SMIC has become one of the largest market capitalized companies listed on the Philippine Stock Exchange (PSE).
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. (PSE: SMPH), 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. (PSE: BDO), the country’s largest bank, and China Banking Corp. (PSE: CHIB), the sixth largest bank in assets.