SM Investments Corporation
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| Holding company | |
| Founded | Manila, Philippines (1994) |
| Founder | Sy Family |
| Headquarters | SM Central Business Park, Mall of Asia Complex, Pasay, Metro Manila, Philippines |
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Key people
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Henry Sy Sr., founder, chairman and CEO |
| Subsidiaries |
SM Prime Holdings SM Development Banco de Oro China Banking Corporation(: CHIB) and other Subsidiaries |
| Website | www.sminvestments.com |
SM Investments Corporation, SM Investments, or SMIC, is a holding company with interests in shopping mall development and management, retail, real estate development, banking, and tourism, founded by Henry Sy, Sr. It has become one of the largest conglomerates in the Philippines, being the country's most dominant player in retail with 208 stores nationwide. Of these, 47 are SM Department Stores; 38 are SM Supermarkets, 37 are SM Hypermarkets and 86 are SaveMore branches.
It is the largest company in Philippines in terms of market capitalization, and has repeatedly ranked top Philippine company in the Forbes Global 2000.
In 1958, Sy's first company, Shoemart (SM), started in Carriedo, Manila. He initially focused on buying large supplies of shoes from the United States. His business expanded as he transformed his shoe store into a department store.
At this point, Sy set up his second company, SM Department Store Inc., and began selling stocks to department stores. In 1978, Sy began buying supermarkets at the northern end of EDSA in Quezon City. By the time he built his first mall, SM City North EDSA in 1994, his companies were listed in the , SM Prime Holdings Inc. By 2005, the SM Investments Corporation was inaugurated.
SM Prime Holdings is the parent company of the SM Group's shopping malls, the largest shopping mall and retail operator in the Philippines. It was incorporated on January 6, 1994 by Filipino-Chinese entrepreneur Henry Sy to develop, conduct, operate and maintain the SM commercial shopping centers and all businesses-related thereto, such as the lease of commercial spaces in the compound of shopping centers. It went public on July 5, 1994 and subsequently grew, becoming the largest company listed on the in terms of revenue. The company's main sources of revenues include rental income from mall and food courts, cinema ticket sales, and amusement income from bowling and ice-skating.
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