SM Investments Corporation (SMIC) – history, company profile (overview) and history video
SM Investments Corporation (SMIC), also known as SM Group, is one of the largest conglomerates in the Philippines, with investments in retail, banking and property. It is headquartered in Manila, Philippines.
HISTORY
SM Investments Corporation’s origins date back to 1958, when Henry Sy, Sr. started his first company, ShoeMart, a small shoe store in Carriedo, Manila. He built a highly recognized brand, which enabled Shoemart to grow and evolve into a full-service department store, hence changing its brand name into the simpler SM.
In 1976, Henry Sy, Sr. acquired Acme Savings Bank, which was later named Banco de Oro.
In 1978, he began buying supermarkets in Quezon City, at the northern end of Epifanio de los Santos Avenue (EDSA), a circumferential highway around Manila.
In the 1990s, SM Megamall was opened, and SM Prime Holdings Inc. was listed on the Philippine Stock Exchange.
By 2005, the SM Investments Corporation was established.
BUSINESSES
SM Investments’s businesses span Property, Retail, Banking, and Equity Investments.
Property
SM Prime Holdings, Inc. is one of the largest integrated property developers in Southeast Asia. It engages in the development of malls, residences, offices, hotels and convention centers.
Retail
SM Retail, Inc. is one of the country’s largest retailers, with a nationwide portfolio of department stores, supermarkets and specialty stores.
- The SM Store (formerly SM Department Store) – offers apparel, accessories, houseware, general merchandise and lifestyle products;
- SM Markets – is comprised of SM Supermarket, SM Hypermarket and Savemore, including WalterMart Supermarket and Alfamart;
- Specialty Stores.
Banking
SM Investments Corporation’s (SMIC) banking business consists of BDO Unibank, Inc., one of the country’s largest banks, and China Banking Corporation, the first local commercial bank in the country.
Equity Investments
SMIC invests in sectors such as logistics, gaming and leisure, food manufacturing, natural resources, dormitories and office properties.
SMIC’s investments are in integrated resorts through Belle Corporation, in copper mining through Atlas Consolidated Mining and Development Corporation, in community mall chain CityMall, office towers under the NEO Subsidiaries and NEO Associates, in end-to-end logistics firm 2GO Group, in Goldilocks, one of the country’s leading bakeshops, and in Philippines Urban Living Solutions, Inc, one of the largest co-living providers in the country which manages and operates MyTown and in GrabPay with its focus on electronic wallet and payment development in the Philippines.
According to Forbes, SM Investments Corp. is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and www.sminvestments.com.
**Video published on YouTube by “SM INVESTMENTS CORPORATION“
***Video published on YouTube by “Companies History“