SM Prime marks 30th anniversary with record-breaking income, PHP 100 billion investment for 2024

SM Prime Holdings, Inc. (SMPH), the leading integrated property developer in the Philippines, marks its 30th anniversary as a publicly listed company with the announcement of its highest-ever recorded income and a ₱100 billion investment for its partners, stakeholders, and communities they operate in. With eyes set on the future, SM Prime reaffirms its position as a catalyst for economic development and community advancement.

SM Prime’s (L-R): Assistant Corporate Secretary Arthur Sy, Corporate Secretary Atty. Elmer Serrano, Chief Finance Officer and Chief Compliance Officer John Nai Peng Ong, President Jeffrey Lim, Independent Director Atty.  Darlene Marie Berberabe, Chairman of the Board Henry Sy Jr., Vice Chairman and Lead Independent Director Amando Tetangco Jr., Non-Executive Director Herbert Sy, Chairman of the Executive Committee Hans Sy, and Non-Executive Director Jorge Mendiola

Record-Breaking Performance

During the Annual Stockholders’ Meeting held on April 23, 2024, SM Prime announced its highest-ever recorded income, reaching PHP40 billion in consolidated net income, marking a 33% increase from 2022. Additionally, the company's revenues surged by 21%, soaring to PHP128.1 billion, a notable growth from the previous year. The consolidated operating income also saw significant growth, rising by 24% to PHP61.3 billion.

From Left to Right, Top to Bottom: Lanson Place, SM Development Corporation (SMDC) Turf Residences, SM City Yangzhou in China, SM Mega Tower, SM Mall of Asia Complex, and SM City North EDSA

The outstanding performance can be attributed to SM Prime's mall business, driving 56% of consolidated revenues and a 30% growth to PHP71.9 billion in 2023. This growth was bolstered by a 24% increase in mall rental income, amounting to PHP61.3 billion. Moreover, the opening of four new malls in 2023 expanded SM's retail presence to 85 malls in the Philippines and 8 malls in China.

Meanwhile, SM Prime's residential business group, led by SM Development Corporation (SMDC), recorded an 8% growth in revenues to PHP43.1 billion in 2023. The residential group's gross profit rose by 15% to PHP25.4 billion, with reservation sales standing at PHP102 billion.

In addition to its mall and residential businesses, SM Prime's other key segments, comprising offices, hotels, and convention centers, contributed 10% of consolidated revenues, reported PHP13.1 billion in revenues in 2023, marking a remarkable 26% increase from the previous year.

Commitment to Shared Growth

At the core of SM Prime's success is its unwavering commitment to shared prosperity in every city where they are present. With a strategic ₱100 billion investment capital expenditure in 2024, SM Prime aims to reinvest in its partners, stakeholders, and communities.

4 New SM Malls in 2024: SM City Caloocan, SM City J Mall, SM City Laoag, and SM City La Union

SM Prime aims to continuously expand and develop new places for every Filipino to enjoy. 60% will be dedicated to enhancing its malls, development of new residential properties under SMDC, and construction of new hotels and convention centers. 40% will be directed towards acquiring new properties and coastal developments to pave the way for modern, eco-friendly urbanization.

Commitment to Environmental Sustainability and Disaster Resilience

SM Prime has always been committed towards creating a sustainable future. SM Prime continues to work towards its goal of achieving Net Zero carbon emissions by 2040, aligning with the Department of Energy's target of reaching a 35% renewable energy share by 2030.  Through partnerships with renewable energy suppliers and organizations like the World Wildlife Fund for Nature (WWF), SM Prime endeavors to reduce its environmental footprint and advocate for sustainable practices in all areas of its operations.

From Left to Right, Top to Bottom: SM Foundation’s Grow Trees Community Program, SM Cares’ Bike-Friendly Program, ARISE Philippines Chairperson Mr. Hans Sy and Members, SM Supermalls x Bureau of Fire Protection’s (BFP) Nationwide Simultaneous Fire Drill, SM Supermalls’ Electric Vehicle (EV) Charging Stations, and SM Prime’s Solar Rooftop Project

SM Supermalls' SM Cares and SMDC's The Good Guys also remain actively engaged in various community initiatives, such as conducting community disaster preparedness programs, providing support programs for senior citizens and persons with disabilities, and promoting job generation and entrepreneurship through nationwide job fairs and MSME programs. Other initiatives include coastal clean-ups, the donation of school buildings and fire trucks, and the organization of eco-camps for youth.

Jeffrey C. Lim, President of SM Prime Holdings shared, “At SM Prime, we're not just building spaces; we're cultivating lifetimes of progress and shared growth. Our commitment lies in empowering Filipinos to thrive within their neighborhoods, whether through convenient shopping experiences at SM Supermalls, quality living in SMDC homes, or fulfilling work environments in our office properties. We believe that individual success fuels community prosperity, creating opportunities, and driving the nation's growth for many years to come.”

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people. For more information, visit www.smprime.com. (PR)

SM, ASP unite for an Autism-OK Philippines with ASP Angels Walk for Autism

The Autism Society Philippines Angels Walk for Autism, held in partnership with SM Cares, returned to the MOA Arena! More than just a walk, it is a united show of support for the autism community and a call to build an Autism-OK Philippines.

This year’s ASP Angels Walk for Autism brought together families, professionals, and allies from the private and government sectors, here and abroad. The main event happened at the Mall of Asia Arena last Sunday, April 21, 2024, with simultaneous walks taking place in Cebu and Davao. More walks are happening at later dates in Iloilo, and Lucena.

The main ASP Angels Walk for Autism, first launched in 2000, was first held in SM MOA in 2009 before finding a home at the MOA Arena in 2015. The advocacy event continues to resonate with the autism community and its allies, even finding supporters in the Filipino diaspora in North America, the Middle East, and Southeast Asia. In the Philippines, the Autism Society Philippines has grown to an astonishing 13,000 members across 103 chapters.

The ASP Angels Walk for Autism is a powerful platform for the celebration of Filipinos on the autism spectrum and the call for acceptance, accommodation, and appreciation — impactful action beyond “awareness”! This year, the ASP honored those who have played an important role in disability-inclusive economic empowerment with the battle cry “Kakaiba, Kasali, Katrabaho!”. The Hans T. Sy Leadership Award 2024 goes to Michelle Dee, Miss Philippines Universe 2023, ASP Goodwill Ambassador and a progressive voice for disability inclusion.

 

The Autism Society Philippines  (ASP)  is a national,  non-profit organization working towards an environment that empowers persons on the autism spectrum to become the best of their potential -- self-reliant,  independent, productive, and socially accepted members of an Autism-OK Philippines. ASP labors to establish institutional mechanisms to support neurodiverse persons and their families.  Established in 1989, the organization -- composed of 13,000 members spread over 100 chapters -- has been at the forefront of providing services to families and individuals on the autism spectrum. #AutismOKPH

SM Cares is the corporate social responsibility arm of SM Supermalls, supporting initiatives focused on communities and the environment. Aside from the program on PWDs, its advocacies include Programs for the Environment, Women & Breastfeeding Mothers, Children & Youth, Senior Citizens, and the SM Bike-friendly initiative.

To learn more about these programs, visit www.smsupermalls.com/smcares #SupportingCommunities (PR)

The Wolf Returns: Big Bad Wolf Strikes Cebu City with Crazy Wolf Sale!

Cebu City, Philippines - Big Bad Wolf, the largest book sale in the world, is returning to take Cebu by storm! This much-awaited return is set to happen at SM Seaside City Cebu from 10:00 AM to 9:00 PM on April 26 to May 5, 2024. 

Book lovers in the Visayas region can once again enjoy access to a vast array of literary offers covering different genres, authors, and topics by bringing their own collection of books.

Even though Big Bad Wolf has visited Cebu numerous times, this visit is sure to go down in history! BBW offers its most recent unique offers, beginning with the promotion of "Buy 5 Free 1." BBW will include an extra book for free for every five books that shoppers grab. Still, that's not all! In addition to the free book, participants can win vouchers for every set of five books they purchase. When consumers purchase ten titles, BBW doubles their happiness by giving away two free books and doubling their chances to win vouchers worth up to P10,000!

Furthermore, the return of the Book Sale in Cebu marks the return of old partnerships, as well as the welcoming of new names. The Red Readerhood Program returns to make a splash at the event. Metrobank is also returning as a bank partner, kicking off their return at the Cebu event. Metrobank cardholders can enjoy a 0% installment promo for three (3) months with a minimum purchase of P3,000. 

Swedish home furnishing brand IKEA will also be present at the BBW event where they will be setting up two lounge areas showcasing their affordable and quality home solutions for book lovers.

But the excitement doesn't end with discounted books and rare promotions. BBW has curated a series of engaging activities and raffles for attendees to enjoy. From captivating cosplay appearances to thrilling raffle draws, there will be something for everyone to participate in and enjoy throughout the event.

As BBW returns to the Queen City of the South, it invites everyone – from book enthusiasts to those just discovering the joy of reading – to celebrate literature, discounts, and community engagement. Admission is free, so mark your calendars and prepare for an unforgettable literary time at SM Seaside City Cebu!

For more information regarding Big Bad Wolf Books’ grand return to the Philippines, please visit:

Website: https://bigbadwolfbooks.com/

Facebook: https://www.facebook.com/bbwbooksphilippines/

Instagram: https://www.instagram.com/bbwbooksph/

About Big Bad Wolf Books

The Big Bad Wolf Books was founded by Andrew Yap and Jacqueline Ng in 2009 and first launched in Kuala Lumpur, Malaysia. In the words of the company’s founders, Big Bad Wolf aims to cultivate reading habits, increase English literacy worldwide, and build a new generation of book lovers by making books more affordable and accessible to everyone.

One of the company’s best highlights is its Book Sales, which is popular among book lovers around the world. As a global reading advocacy initiative, the sales aim to encourage people of all ages to discover the joys of reading, inspire them to pursue their dreams, and, importantly, empower them with the knowledge to realize them.

Currently, Big Bad Wolf’s Book Sales have toured 15 countries and 37 cities. Among these include different cities in Asia like Malaysia, Cambodia, Manila, Singapore, Thailand, Hong Kong, and Indonesia. The company has also begun branching out to book readers outside the Asia Pacific, having held book tours in Tanzania, Kenya, and the United Arab Emirates. 

SM City Mindpro holds joint tactical inspection and general assembly

SM City Mindpro, one of the leading shopping and lifestyle destinations in the region, recently conducted a highly successful Joint Tactical Inspection and General Assembly today, April 18. The event brought together key stakeholders – including uniformed forces, the mall management, tenants, operators, and security personnel, in a collaborative effort to enhance safety and security measures within the mall premises.

The annual Joint Tactical Inspection, which is the first in SM City Mindpro, led by the Customer Relations Service (CRS) Department of SM and local law enforcement authorities, focused on assessing and fortifying security protocols. This initiative aimed to ensure the safety and well-being of shoppers, tenants, and employees, further reinforcing SM City Mindpro’s commitment to providing a secure environment for all.

“We are dedicated to level up our security measures to uphold the highest standards of safety for everyone who visits or works at SM,” said Lester Tantoco, Regional Operations Manager in Mindanao 3. “The Joint Tactical Inspection and General Assembly underscore our proactive approach in addressing security challenges and working collaboratively with stakeholders to ensure a secure and enjoyable experience for all.”

PBGen. Bowenn Joey Masauding, Regional Director of Police Regional Office (PRO) IX, graced the event as the Guest of Honor and Speaker, emphasized that security personnel plays a vital role in maintaining the security and safety not just of the establishment, but the entirety of the region.

During the inspection, Mr. Almus J. Alabe, Head of Security Affairs of SM Prime Holdings, Inc., also commended the CRS Heads for their relentless dedication and tireless efforts to establish a secure atmosphere within the premises of the mall.

The CRS Department of SM, together with SM Retail Group and SM affiliates, organized the activity. Awards were also given to security and maintenance personnel of SM City Mindpro whose contributions made an impact to the mall.

SM City Mindpro remains committed to prioritizing the safety and security of its patrons and looks forward to implementing further enhancements based on the insights gained from this event.

China Bank Savings rises to 2nd largest thrift bank in the country

CBS China Bank Savings has moved up two notches in the Bangko Sentral ng Pilipinas’ 2023 ranking of thrift banks in terms of total assets.  From top four in 2022, CBS is now the second largest thrift bank with P153.45 billion in resources as of December 31, 2023.

CBS finished strong in 2023, achieving a record high of P1.85 billion in net income, up 17%, and P113 billion in loans, up 25%, as its client base grew by 21% year-on-year.  CBS is determined to reach as many new clients as possible this year, already registering 22% growth in its total customer base in the first quarter of 2024 vs. year-end 2023. 

“We are aware of the challenges facing the banking sector this year. Inflation just won’t go away, and movements in international banking continue to be a key consideration for local monetary policy. Nevertheless, we are confident that we will be able to adapt and adjust accordingly,” CBS President James Christian T. Dee said, noting that CBS is doubling down on plans to provide more financial services to the underbanked. “Through our consumer loans, salary loans, SME loans, and teacher’s loans, we will continue to expand our reach. As we do so, we will strengthen our financial inclusion advocacy to bring more Filipinos into the formal banking sector.  We won’t let up. We will exert every effort to Build & Rise toward another Podium Finish this 2024.” 

CBS, the thrift bank arm of Chinabank, is set on improving its resilience and sustainability in the face of accelerating climate change, shifting its corporate fleet to electric vehicles (EVs) and hybrid.  CBS has purchased its first hybrid service car.  CBS Easi Auto Loan is also available for the purchase of hybrids and EVs. (SM Supermalls)

SM Supermalls at the Forefront of Global Entertainment

IMAX Corporation hosted the 11th Annual CEO Forum at the Ojai Valley Inn in California, USA from April 4 to 7, 2024. This IMAX conference welcomed global heads of the entertainment industry to discuss current trends in the industry and its future. 

(From L to R) EVT, Ltd. Managing Director and CEO Jane Hastings, SM Supermalls President Steven Tan, and P-THREE Co-Founder Thomas Rose discussed the role and future of cinemas in providing entertainment at the 11th Annual CEO Forum hosted by IMAX.

IMAX CEO Rich Gelfond provided welcoming remarks for the four-day conference, with guests including CEOs of AMC Theatres, Cineplex, and Tokyu Recreation amongst others.

Panel discussion topics ranged from the changing tastes of moviegoers, new sources of blockbuster entertainment, and the role of AI in cinema. Panelists for these included the CEO and Founder Illumination, Chris Meledandri, A24 co-founder David Fenkel, Legendary Entertainment CEO Josh Grode, and Lucasfilm President Kathleen Kennedy. Providing Hollywood perspectives were Todd Phillips, the director of the upcoming Joker: Folie A Deux, and actor Glen Powell.

Todd Phillips (right), director of upcoming movie Joker: Folie A Deux, with SM Supermalls President Steven Tan

Representing the Philippines was SM Supermalls President Steven Tan, who was invited to participate in the forum titled, “Malls, Hotels and Experiences: Where Does the Cinema of the Future Fit?” Alongside him in the discussion were EVT, Ltd. Managing Director and CEO Jane Hastings and P-THREE Co-Founder Thomas Rose.

Actor Glen Powell (left) with SM Supermalls President Steven Tan

Mr. Tan shared the Philippine experience of SM Supermalls, providing a better understanding of entertainment in the ASEAN context. Mr. Tan noted that malls, experiences, and the cinema were still very interconnected in this area.

After COVID-19, Mr. Tan observed a strong desire in Filipinos to return to shared experiences, and it’s here where the malls and cinemas would play vital roles. Mr. Tan spoke of special concert films and advanced screenings as pillars for fan-based events that spurred feelings of belonging and camaraderie. These, in turn, generated organic online traction. Additionally, film festivals and exclusive film screenings allowed mall cinemas to gain significant media exposure.

The IMAX cinema at SM City Iloilo opened in 2023 with next-generation laser projection and multi-channel sound system that delivers lifelike images and precision audio for a movie-going experience unlike anything else.

SM cinemas also implemented contactless entry and self-service kiosks, which are all in line with upgrading to new technology to enhance the cinema experience.

Additionally, in recognizing Filipino audiences' penchant for snacking during screenings, Mr. Tan outlined plans that enhanced SnackTime refreshment stands, offering diverse and convenient options that ultimately boost the cinema experience.

Snack Time offers diverse and convenient food options for moviegoers in SM malls nationwide.

The inclusion of the Philippines in the discourse underscored its growing significance in the global entertainment landscape, affirming SM Supermalls' goal in shaping the industry's future. (SM Supermalls)