SM Prime

CITY OF SAN FERNANDO – At least 1,259 beneficiaries including infants, children, adults and senior citizens from Northville 14, Sindalan, this city availed themselves of free medical and dental services recently provided by the local health office, SM Foundation Inc. and SM City San Fernando. This was SM City’s first community health mission¯to reach out to the marginalized sector of the communities.

The beneficiaries, who were resettled from the railroad track to Northville 14 community ¯to give way for the development of th Philippine National Railways (PNR), also benefited from free tooth extraction, blood pressure and blood sugar check, X-ray, ECG and urinalysis.

Volunteer doctors and nurses from City Health Office of San Fernando and SM Foundation Inc. gave their full support and services by rendering 1,122 free medical checkups and 83 basic dental- care cases.

¯Other services were provided such as 83 ECG (Electrocardiography), 26 chest x-rays and nutrition counseling.

Thousands of itamins and medicines from “Gamot para sa Kapwa” were handed out at no cost during the activity.

Patients who needed more checkups were immediately referred to appropriate hospitals.

The medical and dental mission is a program of SM Foundation aimed to provide services to the less fortunate who cannot afford appropriate medical attention. It has been conducted in various parts of the Philippines as part of SM’s corporate social responsibility.

|2012-04-19 10:37:07|Business Mirror By Joel Mapiles / Correspondent 1791|Tree huggers’ hyperbole|

Our Karambola sa dwIZ co-host Teddy Boy Locsin facetiously commented that the 182 trees that are being earth-balled for the extension and development of SM Baguio got better due process than Chief Justice Renato Corona who is undergoing an impeachment trial at the Senate.

Teddy Boy’s comment was made in reaction to the information shared by SM Supermalls Inc. president Annie Garcia that it took SM about one year to get all the necessary permits from the Department of Environment and Natural Resources and the Baguio City government for the tree balling of the 182 pine and alnus trees that would be affected by the SM Baguio expansion.

Even the information given by Garcia that the number of trees involved in the whole brouhaha is only 182 trees out of some 2,000 trees in the SM Baguio complex caught us by surprise because as Teddy Boy half jokingly observed that based on the news that had been coming out as well as the publicity that the “tree huggers” have been putting out one gets the impression that SM is cutting all the trees in the Cordillera mountain range.

It is unfortunate and sad that the supposed pro-environment activists are resorting to hyperbole and outright disinformation in their campaign against SM on the tree balling issue. In the long run such tactics would boomerang and would cast doubts on the pro-environment groups’ well-meaning campaign to save and protect the environment.

SM, because it is big, is a natural target but it would seem that the Baguio project is a wrong environment issue to raise against it.

It appears that SM already anticipated the sensitiveness of the expansion and development project which is also being undertaken, according to Garcia, as a long term solution to the erosion issue for the whole SM Baguio complex that could threaten its main structures.

Garcia said rip-rapping had been proven to be inadequate and the experts advised SM to do a more extensive solution to the erosion problem and the extension would do this by serving as an integral part of an engineered retaining wall.

The SM executive has pointed out that the SM redevelopment project has taken into consideration all the environmental issues and the design for the P1.2 billion project has been certified as eco-friendly by the Leadership in Energy and Environmental Design (LEED) and internationally-recognized standard for green-building and construction developed by the US Green Building Council.

Minus the emotions the critics of the SM Baguio earth-balling exercise for the trees affected by the development have not raised any real and valid issue.

For example the “news” was spread that SM was secretly and surreptitiously earth balling at night to hide what they are doing from the public. It turns out that the earth balling at night was an order of the DENR and DENR officers were there to supervise it.

DENR undersecretary Demetrio Ignacio has explained that trees that are being balled have bigger chances of survival when balled at night when it’s cooler and there is less stress on the trees.

The critics even questioned why the work areas were fenced and surrounded with tarpaulin when SM is just complying with the law which requires this to be done to protect surrounding areas.

A big issue was also made about SM ignoring the temporary environmental protection order (TEPO) issued by a Baguio court last April 9 and continue with its earth balling operations but it turns out that SM did not receive the TEPO immediately and SM sent a representative to the court to get a copy of the TEPO on April 11. When it officially got a copy of the TEPO the earth-balling operation stopped.

Understandably the critics of the SM are trying to downplay the fact that as a condition for the permit for the earth balling and transfer of the 182 affected by the redevelopment project SM is required to plant over 50,000 trees in areas in Baguio and Benguet designated by the DENR.

DENR had admitted that this is over and above the usual requirement and said that SM has agreed to plant the first batch of 20,000 trees this month.

Annie Garcia said that the SM Baguio mall is designed and developed to be a potential prime tourist destination in the city. She said that a lushly landscaped Roof Garden with water features will be one of the expanded attractions of the mall.

The Roof Garden will use Green Roof Technology which will create an environment for the more than 300 trees to be planted in the Roof Garden that is as close to the plant’s natural environment.

Shouldn’t pro-environment groups be happy with this “Green” development in SM which is certainly a better than the concrete trees “planted” in Session Road.

|2012-04-20 10:41:13|Manila Standard By Alvin Capino 1792|Ensuring safety of mall-goers|

SM Prime Holdings Inc. recently signed a memorandum of agreement (MoA) with the Metropolitan Manila Development Authority (MMDA), the Department of Public Works and Highways and the local governments of Marikina and Valenzuela for the maintenance and operation of pedestrian overpasses in SM Marikina and SM Center Valenzuela.

The partnership formalizes the coordination and work between these government units and agencies, and SM Prime Holdings Inc. to take charge of the operation of footbridges beside SM Malls to ensure the safety and convenience of mall-goers and other commuters.

A 118.53-meter pedestrian footbridge is connected to SM City Marikina crossing over Marcos Highway. It was operational since September 2008 — the same time the SM mall was opened to the public.

Furthermore, in 2009, a 341.59-meter extension was constructed on the east-bound side of Marcos Highway up to the area fronting the LRT Line 2 Santolan Station. This enables the commuters to access the pedestrian footbridge directly to and from the mall. Meanwhile, in SM Center Valenzuela, a 36-meter pedestrian overpass was built crossing over MacArthur Highway in February 2006.

It was also constructed for the safety of pedestrians and public transportation commuters, and to ease as well the congestion of vehicular traffic in the highway.

SM Supermalls president Annie Garcia, MMDA Chairman Francis Tolentino, Marikina City Mayor Del de Guzman and Valenzuela City Engineering Office OIC Praceli Nelson recently formalized the partnership by signing the MoA at the SM Prime Corporate Offices at the Mall of Asia complex. SM Supermalls vice presidents for operations Bien Mateo and Steven Tan, AVP for operations Lisa Silerio, regional operations managers Jojo Navera and Johanna Rupisan, and SM Prime Holdings Inc. vice president Ryan San Juan joined them in the event.

|2012-04-20 10:42:01|The Daily Tribune: 1793|Mall explored every means for trees, says DENR exec By Vincent Cabreza|

BAGUIO CITY—-Shopping mall giant SM had considered every technique to safely uproot and transfer the pine and alnus trees it intends to relocate to make way for the expansion of its Baguio mall because Luneta Hill’s terrain could not accommodate equipment without hurting other trees in the area, an environment official said.

Augusto Lagon, technical director for forestry of the Department of Environment and Natural Resources (DENR) in the Cordillera, said at one point, SM considered using a helicopter or a hot air balloon which would raise uprooted pine trees from their location and which would nestle them safely onto an adjacent section of the hill.

In the end, SM had to use a backhoe and a crane to uproot and transfer a pine tree between April 9 and 10, Lagon said.

A conventional earth-balling machine would not be able to hold its weight firmly in place on Luneta Hill’s slopes, he said.

The mall managed to transfer a pine tree and 40 alnus trees before it heeded a temporary environmental protection order imposed by Regional Trial Court Judge Antonio Esteves, who is hearing a civil suit filed by the Cordillera Global Network against SM.

On Wednesday, DENR officials and a University of the Philippines (UP) Baguio team joined an inspection conducted by groups opposing the displacement of 182 trees at Luneta Hill.

The inspection was the result of a dialogue between SM, led by its president, Hans Sy, and the representatives of Baguio groups and residents opposing the earth-balling of trees. Interior Secretary Jesse Robredo gathered the two groups in Metro Manila on Monday.

A UP Baguio inspection report issued on Wednesday cited the condition of 13 pine trees, which had been prepared for transfer. The report was sent to the Inquirer by Dr. Wilfredo Alangui, UP Baguio College of Science dean.

The trees’ roots were wrapped in sack and cloth when the DENR and the UP Baguio team saw them.

|2012-04-23 18:29:52|Inquirer Northern Luzon By Vincent Cabreza 1794|The truth and lies about SM Baguio|

Self-styled environmentalists continue to peddle lies about the expansion plans of SM Baguio. This has resulted in misinformation and misconception of what SM is doing for the city.

Media have been fed lies about the alleged cutting of pine trees at the back of the shopping mall. SM critics allege that the cutting of pine trees was done at night, and the cutters worked behind tarpaulins and fences to avoid the public eye. The word was that despite a temporary environment protection order issued by the court, SM continued to cut trees.

Nothing could be farther from the truth.

Recently, SM City Baguio opened its doors to critics and government authorities so they could see for themselves that SM was not hiding anything.

Trees are already being re-planted in the mall’s ongoing expansion and re-development.

Representatives of the Department of the Interior and Local Government, Department of Environment and Natural Resources, as well as Baguio city executives and forestry experts, were all there to see the soil erosion on the steep sloping terrain. This was what prompted the SM management to work on the re-development plan.

***

Here are some facts that have not been reported by media:

As early as January 2011, SM Baguio has been in consultation with stakeholders including the DENR, Baguio City government, the city council, the Barangay Session Road, the religious sector through Bishop Carlito Cenzon, media, and the Baguio Regreening Movement.

First all, the pine trees were not cut. They were earth-balled at night on the suggestion of DENR foresters to capitalize on the soil moisture. This ensured that the earth-balled trees would survive after they had been relocated. And the replanting is within the SM property.

Apart from the earth-balling, SM is planting 50 pine saplings for every tree transferred, more than twice the quantity required by DENR. Since 2005, the mall has planted more than 6,000 pine saplings to help re-green its premises and other DENR-designated areas in Baguio and in Benguet.

***

Let’s rewind a bit. In 1992, a bidding was held to privatize the old Pines Hotel property, the only livable and tourist-frequented hotel at that time. All told, this is a 30-plus hectare land, now privately owned by Henry Sy’s SM chain.

Of major concern was soil erosion at the back of the mall. Together with a P1.2 billion re-development plan, soil erosion had to be addressed. Trees had to be relocated —not cut—under the supervision of the DENR. Some 182 trees would be affected. A rain collection system would be built to help control water runoff in and around the property while providing a secondary water source for the facility’s needs. Thus, a water reservoir was designed, and with its spacious capacity, the underground water reservoir would not only benefit the mall but also its surrounding communities in times of need. And we all know that at times water shortage hits Baguio.

SM will not be the only beneficiary. The city—especially Session Road—will also benefit from the plan.

And why do it at night? Simply because earth-balling is better when the soil is moist at night, and that the public and surroundings are protected. This is common under the law for all constructions.

Santa Banana, didn’t the developers of Global City at Fort Bonifacio cut trees for development? Ditto at Alabang Stock Farm and Villamor Air Base?

I repeat, SM City Baguio didn’t cut trees. It just earth-balled them, my gulay! And that’s the truth.

|2012-04-25 10:17:37|Manila Standard by Emil Jurado 1795|New malls boost SM Prime’s profit by 15%|

Shopping mall operator SM Prime Holdings Inc. reported Tuesday net income in the first quarter jumped by 15 percent to P2.34 billion, with the opening of new malls and improved contribution from China.

SM Prime chief finance officer Jeffrey Lim said in an interview following the company’s annual stockholders’ meeting consolidated revenues in the January-to-March period grew by 16 percent to P7.03 billion from P6.07 billion a year ago.

“The company’s robust results were driven by a mix of factors, namely additional capacity from new malls opened in the Philippines during the past two years, a healthy same-store rental growth of 8 percent and the rising momentum in its China operations,” Lim said.

Lim said the four SM malls in China posted combined gross revenues of P620 million in the first quarter, up 34 percent year-on-year while net income increased 44 percent to P140 million.

The four China malls are located in the cities of Xiamen and Jinjiang in Southern China, Chengdu in Central China, and Suzhou in Eastern China.

Lim expects the 15-percent growth in net income to be sustained for the rest of the year on strong consumer spending and strong remittances from Filipino workers overseas.

|2012-04-25 10:18:04|Manila Standard By Jenniffer B. Austria 1796|SM Prime net income rises 15% to P2.43B in Q1 ’12|

SM Prime Holdings Inc. (SMPHI) posted a 15 percent jump in consolidated net income to P2.43 billion in the first quarter of 2012 from P2.12 billion in the same period in 2011 on the back of newly opened malls both in the country and in China.

The firm started the year strong by continuing to exceed its growth targets during the first three months of 2012 as its consolidated revenues grew 16 percent to P7.03 billion from P6.07 billion during the same period last year.

Ebitda meanwhile rose 13 percent to P4.76 billion, resulting in an Ebitda margin of 68 percent.

SMPHI CFO and EVP Jeffrey Lim said these results include the operations of the four SM malls in China, which are located in the cities of Xiamen and Jinjiang in Southern China, Chengdu in Central China, and Suzhou in Eastern China.

He noted that the robust results were driven by a mix of factors namely additional capacity from new malls opened in the Philippines in 2010 and 2011 — with store rental growth of 8 percent from 7 percent, and the rising momentum in its China operations — with the four SM malls having combined gross revenues rising sharply by 34 percent.

SMPHI president Hans Sy said the company’s better-than-expected performance during the first three months is a welcome development as it confirms their optimism in the Philippine economy and SM’s ability to thrive in competitive environments in China.

“This bodes well with our plan this year to open five new malls in the Philippines and one in China. With these new malls, SM Prime greatly enhances its capability to serve the varied needs of its clients and to maintain its dominant position in the industry,” he added.

Earlier this year, SM Prime inaugurated SM City Olongapo, its first mall in the province of Zambales. For the rest of 2012, SM Prime is scheduled to open SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, SM City Consolacion in Cebu, SM City San Fernando in Pampanga, and SM Chongqing in China.

For the first three months of 2012, SM Prime’s consolidated rental revenues contributed 86 percent to the total, increasing by 15 percent to P6.03 billion on the back of 427,000 square meters additional rental space coming from SM City Tarlac, SM City San Pablo, SM City Calamba, SM City Novaliches, SM City Masinag and the recently opened SM City Olongapo.

By the end of this year, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined GFA of 6.3 million sqm. Danessa O. Rivera

Lim also said the 15 percent growth in the first quarter could be a trend for the full year 2012.

“Barring any major setbacks or probles, this should be achievable moving forward given that we expect the government to pursue PPP spending or projects and we continue to see improvement in OFW remittances, the BPO which is consistently growing and there is confidence in the economy. With this, we expect consumer spending to improve,” he said. Danessa O. Rivera

|2012-04-25 10:19:00|Daily Tribune By Danessa O. Rivera 1797|SM Prime net profit up 15% to P2.43B in Q1|

MANILA, Philippines – SM Prime Holdings Inc., the country’s larger retail landlord, said its net earnings increased by 15 percent in the first quarter of the year to P2.43 billion on the back of higher revenues arising from the addition of new malls and the strong growth of its China operations.

In a briefing following the company’s annual stockholders meeting yesterday, SM Prime president Hans T. Sy said the firm’s “better-than-expected performance is a welcome development and reinforces its confidence in the local economy. He expects the company to sustain its positive momentum for the rest of the year.

Sy said the results also show SM’s ability to thrive in competitive environments in China.

Jeffrey C. Lim, chief financial officer of SM Prime, said consolidated revenues went up by 16 percent to P7.03 billion while EBITDA rose 13 percent to P4.76 billion, resulting in an EBITDA margin of 68 percent. Same store rental growth climbed eight percent, an improvement from the seven-percent growth reported the previous year.

The results include the operations of the four SM malls in China, which are located in the cities of Xiamen and Jinjiang in Southern China, Chengdu in Central China, and Suzhou in Eastern China, Lim said.

The four China malls performed remarkably, with net income growing 44 percent to P140 million on the back of a 34.8 percent jump in gross revenues to P620 million. Lim attributed the robust growth to an increase in average occupancy rate, lease renewals and the opening of a lifestyle mall in Shanghai.

Lim said the malls in China currently have an average occupancy rate of 96 percent.

Consolidated rental revenues contributed 86 percent to the total, increasing by 15 percent to P6.03 billion. Additional rental space came from SM City Tarlac, SM City San Pablo, SM City Calamba, SM City Novaliches, SM City Masinag and the recently opened SM City Olongapo. These malls put in 427,000 square meters (sqm) to the company’s total gross floor area and presently register an average occupancy rate of 93 percent.

Earlier this year, SM Prime opened to the public SM City Olongapo, its first mall in the province of Zambales. For the rest of 2012, the company is scheduled to open SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, SM City Consolacion in Cebu, SM City San Fernando in Pampanga, and SM Chongqing in China.

By the end of the year, SM Prime’s mall network will increase to 46 malls in the Philippines and five in China with an estimated combined GFA of 6.3 million sqm. or an increase of 550,000 sqm.

For 2013, SM Prime will open two shopping centers in Metro Manila-SM Taguig and SM in BF Sucat, Parañaque. It will also be expanding existing malls in Clark and Bacolod. When completed, the new malls will provide an additional 521,000 sqm.

SM Prime’s total GFA is expected to increase further with the opening of its malls in Tianjin (530,000 sqm) and Zibo (160,000) in 2014.

|2012-04-25 10:19:20|The Philippine Star By Zinnia B. Dela Pena 1798|SM Prime profits hit P2.4B, in Q1 up 15% by ALBERT CASTRO|

SM Prime Holdings Inc. said profits for the first quarter of the year reached P2.43 billion, 15 percent higher than last year’s P2.12 billion.

Consolidated revenues hit P7.03 billion, 16 percent higher than the P6.07 billion last year.

For the first three months of 2012, SM Prime’s consolidated rental revenues contributed 86 percent to the total and rose 15 percent to P6.03 billion.

Additional rental space came from SM City Tarlac, SM City San Pablo, SM City Calamba, SM City Novaliches, SM City Masinag and the recently opened SM City Olongapo. These malls added 427,000 square meters (sqm) to the company’s total gross floor area (GFA) and register an average occupancy rate of 93 percent.

EBITDA (earnings before interest, tax, depreciation and amortization), meanwhile, rose 13 percent to P4.76 billion, resulting in an EBITDA margin of 68 percent.

“These results include the operations of the four SM malls in China, which are located in the cities of Xiamen and Jinjiang in Southern China, Chengdu in Central China, and Suzhou in Eastern China,” said Jeffrey Lim, SM Prime chief finance officer.

SM Prime’s results were driven by a mix of factors, namely, additional capacity from new malls opened in the Philippines during the past two years, a healthy same-store rental growth of 8 percent and the rising momentum in its China operations, according to Lim.

“The four SM malls in China sustained their notable performance, with combined gross revenues rising sharply by 34 percent to P0.62 billion, and net income increasing by 44 percent to P0.14 billion,” he said.

SM Prime president Hans T. Sy said the company’s “better-than-expected performance during the first three months is a welcome development.”

“It confirms our optimism in the Philippine economy and SM’s ability to thrive in competitive environments in China. This bodes well with our plan this year to open five new malls in the Philippines and one in China,” he said.

These include SM malls in Olongapo, Zambales; San Fernando, Pampanga; Consolacion, Cebu; Lanang, Davao, and General Santos, South Cotabato.

In September, SM Prime is set to open SM Chongqing which is expected to bring the company’s total malls to 51 – 46 in the Philippines and five in China with a total GFA of 6.3 million square meters.

For the year, SM Prime is adding 400,000 sqm in new spaces, said Lim.

Lim said SM Prime will continue to add retail space to its portfolio, building another 521,000 sqm by next year. SM Prime’s China operation will see the opening of SM Zibo and Tianjin, which will have 160,000 sqm and 530,000 sqm of GFA, respectively.

Lim, meanwhile, said SM Prime is planning to raise between P5 billion and P7 billion of funds by issuing corporate notes. A mandate has already been awarded for the five-year bond though its rate has yet to be identified.

|2012-04-25 10:20:09|Malaya By Albert Castro 1799|SM Prime profits hit P2.4B, in Q1 up 15%|

SM Prime Holdings Inc. said profits for the first quarter of the year reached P2.43 billion, 15 percent higher than last year’s P2.12 billion.

Consolidated revenues hit P7.03 billion, 16 percent higher than the P6.07 billion last year.

For the first three months of 2012, SM Prime’s consolidated rental revenues contributed 86 percent to the total and rose 15 percent to P6.03 billion.

EBITDA (earnings before interest, tax, depreciation and amortization), meanwhile, rose 13 percent to P4.76 billion, resulting in an EBITDA margin of 68 percent.

SM Prime president Hans T. Sy said the company’s “better-than-expected performance during the first three months is a welcome development.”

These include SM malls in Olongapo, Zambales; San Fernando, Pampanga; Consolacion, Cebu; Lanang, Davao, and General Santos, South Cotabato.

For the year, SM Prime is adding 400,000 sqm in new spaces, said Lim.

|2012-04-25 10:20:09|Malaya By Albert Castro 1800|SM Prime nets P2.43B in Q1; Revenues from new, current malls boost bottom line|

SM Prime Holdings, the country’s largest shopping mall developer, grew its first-quarter net profit by 15 percent to P2.43 billion from a year ago as revenues from new and existing malls expanded.

Consolidated revenues grew by 16 percent to P7.03 billion year on year and the increase was attributed to a mix of factors, including additional capacity from new malls opened in the Philippines during the past two years, a same-store rental growth of 8 percent and the rising momentum in its China operations.

“SM Prime’s better-than-expected performance during the first three months is a welcome development. It confirms our optimism in the Philippine economy and SM’s ability to thrive in competitive environments in China. This bodes well with our plan this year to open five new malls in the Philippines and one in China. With these new malls, SM Prime greatly enhances its capability to serve the varied needs of its clients and to maintain its dominant position in the industry,” SM Prime president Hans Sy said in a statement.

During the stockholders’ meeting on Tuesday, Sy also announced the opening this year of the group’s fifth mall in southwest China in Chongqing, one of the largest cities in China with a population of 32 million.

The new mall will add 147,446 square meters to the group’s shopping mall portfolio in China.

The first-quarter results include the operations of the four SM malls in China, located at the cities of Xiamen and Jinjiang in southern China, Chengdu in central China, and Suzhou in Eastern China.

The four SM malls in China reported a 34-percent rise in gross revenues to P620 million and a growth in net income of 44 percent to P140 million.

Earlier this year, SM Prime inaugurated SM City Olongapo, its first mall in the province of Zambales. For the rest of 2012, SM Prime is scheduled to open SM City Lanang in Davao City, SM City General Santos in southern Mindanao, SM City Consolacion in Cebu, SM City San Fernando in Pampanga and SM Chongqing in China.

By the end of this year, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined gross floor area of 6.3 million square meters.

|2012-04-25 10:24:15|Philippine Daily Inquirer By Doris C. Dumlao 1801|SM Prime’s first quarter profits jump 15% to P2.4 billion|

MANILA, Philippines (UPDATE) – A top official of SM Prime Holdings Inc., the country’s leading shopping mall developer and operator, said the controversy surrounding the earth-balling of pine trees at its Baguio property was a result of the ‘failure’ of its information campaign.

SM Prime President Hans Sy said ‘everything was above board’ with regards to the company’s mall expansion project that required the earth-balling of pine trees.

‘Everything is above board. We made sure we complied. It’s just that people didn’t understand. I’d look at it as a failure of our information campaign… We will be planting more trees..At the end of the day, people will really look at SM as a responsible company,’ he said.

Earlier this month, SM was embroiled in a controversy, after its efforts to earth-ball pine trees to make way for its SM Baguio mall expansion project were criticized by environmentalists and residents. A total of 41 trees had been earth-balled before a temporary environmental protection order was issued by a Baguio court.

Meanwhile, SM Prime said its net income rose 15% to P2.43 billion in the first quarter of 2012, on the back of its mall expansion and growth in same-store sales.

In a statement, SM Prime said its first quarter consolidated revenues jumped 16% to P7.03 billion from P6.07 billion in the previous year.

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) grew 13% to P4.76 billion, resulting in an EBITDA margin of 68%.

‘SM Prime’s robust results were driven by a mix of factors namely additional capacity from new malls opened in the Philippines during the past two years, a healthy same-store rental growth of 8% and the rising momentum in its China operations,’ the company said.

The first quarter results included the operations of SM’s 4 malls in China, namely in Xiamen and Jinjiang in southern China, Chengdu in central China, and Suzhou in eastern China. Combined gross revenues from the 4 malls increased by 34% to P620 million, while net income increased 44% to P140 million.

‘SM Prime’s better-than-expected performance during the first three months is a welcome development. It confirms our optimism in the Philippine economy and SM’s ability to thrive in competitive environments in China. This bodes well with our plan this year to open five new malls in the Philippines and one in China. With these new malls, SM Prime greatly enhances its capability to serve the varied needs of its clients and to maintain its dominant position in the industry,’ said Sy.

This year, 5 new malls, namely SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, SM City Consolacion in Cebu, SM City San Fernando in Pampanga, and SM Chongqing in China, are expected to open.

In the first quarter, SM malls continued to perform strongly. SM Prime said its consolidated rental revenues, which contribute 86%to the total revenues, increased by 15% to P6.03 billion. Additional rental space came from SM City Tarlac, SM City San Pablo, SM City Calamba, SM City Novaliches, SM City Masinag and the recently opened SM City Olongapo.

SM cinema ticket sales also jumped 23% in the January to March period, with blockbuster hits such as ‘Unofficially Yours,’ ‘Enteng ng Ina Mo,’ and ‘The Hunger Games.’

|2012-04-25 10:25:42|ABS-CBNnews.com 1802|SM Prime 1st-Quarter Net Profit Up 15% On Year; Plans Bond Sale|

MANILA – Shopping-mall operator SM Prime Holdings Inc. (SMPH.PH) said Tuesday its first-quarter net profit rose 15% from a year earlier, helped by continued expansion of its shopping-mall network in the Philippines as well as increased occupancy at its China properties.

The Philippines’ largest operator of shopping malls is optimistic about its portfolio of malls, and aims to raise PHP5 billion from a bond sale to help fund its expansion plans as well as strengthen capital expenditure this year.

Net profit in the three months ended March 31 rose to PHP2.43 billion ($56 million) from PHP2.12 billion a year earlier, SM Prime Chief Finance Officer Jeffrey Lim told reporters.

First-quarter revenue rose 16% to PHP7.03 billion from PHP6.07 billion a year earlier, he said.

SM Prime President Hans Sy said the ‘better-than-expected performance (of the company) during the first three months is a welcome development. It confirms our optimism in the Philippine economy and SM’s ability to thrive in competitive environments in China,’ he added.

Sy said the new shopping malls the company plans to open this year will help it maintain its dominance in the Philippine retail industry.

Lim said the company has added 380,000 square meters of new, leasable space in its shopping mall network since the first quarter of 2011 and expects growth in the local economy to underpin stronger consumer spending.

In the remaining months of 2012, SM Prime plans to open four shopping malls in Philippines and one in China after opening one mall in the Philippines earlier this year. The new malls will expand SM Prime’s network to 46 shopping malls in the Philippines and five in China.

Group sales were up 8% on a same-store basis while rental revenue rose 15% from a year earlier to PHP6.03 billion, Lim added.

Lim said SM Prime is looking to raise PHP5 billion from the issuance of five-year bonds to help finance the company’s PHP21 billion capital expenditure for 2012, which represents an increase from the PHP18 billion earmarked for 2011. A third of the 2012 capital spending will go toward its planned expansion in China, he said.

First-quarter revenue from its four shopping malls in China rose 34% from a year earlier to PHP620 million, while net profit rose 44% to PHP140 million, the company said.

Lim told reporters the company hired First Metro Investment Corp. to manage the bond offer, which will be privately placed among institutional investors.

|2012-04-25 10:26:05|Dow Jones Newswires 1803|SM Prime sees sustained growth, plans to borrow P5B for expansion|

SM PRIME Holdings, Inc., the country’s biggest shopping mall developer and operator, said net income in the first quarter grew 15 percent to P2.43 billion as revenues hit P7.03 billion, up 16 percent.

In a press briefing on Tuesday, SM Prime Chief Financial Officer Jeffrey Lim said the company expects to sustain this growth pace for the rest of the year.

“We continue to see an increase in overseas remittances while the BPO [business process outsourcing] industry is also a factor. We are consistently growing and there is confidence now in terms of growth in the economy so we expect consumer spending to improve,” Lim said.

SM Prime President Hans Sy said the company’s performance “confirms our optimism in the Philippine economy and SM’s ability to thrive in competitive environments in China.”

Lim noted that SM Prime plans to borrow P5 billion, with a P2-billion “upsize” option, in five-year corporate notes. He said the transaction is being handled by First Metro Investment Corp. and is expected to close “anytime now.”

Proceeds will be used to finance the company’s aggressive expansion plans, Lim said. For this year, SM Prime plans to spend P14 billion in the Philippines and another P7 billion in China to open new malls and expand existing shopping centers. It already opened a shopping center in Olongapo, Zambales and plans to open SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, SM City Consolacion in Cebu, SM City San Fernando in Pampanga, and SM Chongqing in China within the year.

By the end of this year, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined gross floor area of 6.3 million squ. The mall operator said its China-based shopping centers contributed 9 percent of its revenues for the three month-period.

SM Prime shares added 0.48 percent to P16.78 each on Tuesday, giving it a market value of P233.2 billion.

In Photo: SM Prime Holdings Inc. President Hans Sy speaks at the stockholders’ meeting held at the SMX Convention Center in Pasay City. According to Sy, “SM Supermalls have always been committed to serving the Filipino community by providing world-class retail services and standing firm in our commitment to civic and environmental responsibility.” (Nonie Reyes)

|2012-04-25 10:26:35|Business Mirror By Miguel R. Camus / Reporter 1804|The Pines Of Baguio City|

“I think that I shall never see A poem lovely as a tree… Poems are made by fools like me, But only God can make a tree.” — Joyce Kilmer

MANILA, Philippines — One beneficial side effect of the controversial SM Baguio redevelopment project is that it has highlighted and sparked a review of the city’s ecological blight, population explosion, congestion, sanitary catastrophe, and traffic gridlocks that have befallen the Pines City in the last two decades.

Baguio is no longer the wholesame summer retreat nestled in the bosom of the Benguet range where the sweet smell of pine is the first indication that one has reached the gates of Baguio encircled by pine-covered hills.

Today, the once lovely verdant hills are blighted and dotted by thousands of shimmering tin roofs, shanties, narrow alleyways, and sanitary problems.

Then came the SM Baguio mall where the quaint and venerable Pines Hotel once majestically stood overlooking busy Session Road. With famous Baguio Country Club and privatized Camp John Hay, SM Baguio provides the City its third landmark.

No doubt SM Baguio has transfused new life and energy into an otherwise decaying and aging summer resort that reeks of diesel fuel and immobilized by traffic congestion.

Like it or not, SM Baguio has generated and boosted economic activity which the City government by itself is not capable of achieving.

Whether SM should have located the mall elsewhere in the city is now moot and academic as SM Baguio has become the focal hub and center of Baguio’s pedestrian population and favorite malling venue.

Nevertheless, structurally and environmentally, the area surrounding the mall calls for and necessitates reinforcing and fortifying as the mall is not only experiencing serious soil erosion around the base but Baguio itself is continually being rattled by earthquakes of varying intensity and typhoons.

Thus, the alleged tree-cutting or the controversial earth-balling can be resolved amicably and the issue should not be magnified and belabored.

Before permits are granted, government agencies concerned, environmental groups, and bleeding hearts should extract from SM firm commitments and financial promise that SM will not only avoid cutting trees, although at times it may be unavoidable, but will commit to massive replanting and reforestation around Baguio as part of its Corporate Social Responsibility (CSR) for having provoked the controversy.

There is too much nitpicking and petty thinking over a few aging trees since SM will gladly accept all the legal requirements in view of SM Baguio’s structural risks and environmental vulnerabilities.

Thus, compared to the massive tree cutting and ecological degradation of other recent developments such as former Fort Bonifacio, Boracay, Alabang, Villamor Air Base, and countless golf courses, the controversy over 182 trees around the SM Baguio mall is petty and easy to resolve which patriarch Henry Sy Sr. will be glad to accommodate.

When all is said and done, the prominent SM location in Baguio City, as it stands on top of a steep promontory, does need structural strengthening and re engineering by way of expansion and redevelopment that will pari-passu militate against further soil erosion and water wastage.

Since 2005, SM has already planted 6,000 pine saplings in Baguio and in Benguet. The SM expansion should be a welcome contribution to Baguio’s revitalization.

You be the judge

|2012-04-27 15:04:57|Manila Bulletin By Former Press Secretary Hector R.R. Villanueva 1805|SM Prime Annual Stockholders’ Meeting|

|2012-04-26 00:00:00|Manila Bulletin 1806|Free talk on contemporary architecture today in SM|

A FILIPINO-American architect based in New York will conduct a free talk on contemporary architecture today at 3 p.m. at the Conference Hall of SM City Cebu.

Carlos Arnaiz, the speaker, is the architect behind the new and bigger Boracay International Airport and the soon-to-rise Shrine of Mary, Mother of God church at the SM Seaside City complex at the South Road Properties in Cebu City. The 1,000-seat church stands on a 2,220-sqm lot of SM Prime Holdings.

Arnaiz, who finished architecture at Harvard University, has been practicing his profession for more than 12 years now.

After working for a number of firms in the US, he put up his own architecture firm in Brooklyn, CAZA or Carlos Arnaiz Architects, almost four years ago, and now employs associate architects from all over the world.

Arnaiz has ongoing projects in Colombia, Brazil and Taiwan.

Interested participants may call SM City Cebu Mall Administration Office at 232-0296.

|2012-04-26 00:00:00|Cebu Daily News Inquirer 1807|Marvel’s ‘The Avengers’ grosses P101-M in 2 days|

Marvel’s ‘The Avengers’ is breaking box office records in the Philippines with its two-day gross of P101-M. (Walt Disney Studios)

(April 27, 2012) MANILA, Philippines – “Marvel’s The Avengers” grossed a staggering P100.76-million in its first two days of release nationwide, an official of Walt Disney-Philippines told Philstar.com Friday.

The film about the comicbook superhero team is on track to be the biggest-grossing movie in Philippine history as it heads to its first weekend when box-office attendance significantly surges especially since Filipino families enjoy spending time with their loved ones matching at the cinemas.

According to Victor R. Cabrera, managing director of Walt Disney Studios Motion Pictures Philippines, “Marvel’s The Avengers” is already ahead of “Spider-Man 3” – which, until today, was the highest-grossing movie ever with its first-two days gross of P91.71-M in 2007.

Showing in 467 screens, “The Avengers” recorded the biggest receipts in SM North EDSA (P6,165,744), SM Mall of Asia (P5,085,714), SM Megamall (P4,310,903), Trinoma (P3,993,746), SM Cebu (P3,360,436), Glorietta 4 (P2,839,283), Newport (P2,454,528), Gateway (P2,287,513), Eastwood (P2,249,819) and SM Fairview (P2,182,793).

“Marvel’s The Avengers” features iconic Marvel Super Heroes Iron Man, The Incredible Hulk, Thor, Captain America, Hawkeye and Black Widow who band together when an unexpected enemy emerges that threatens global safety and security, Nick Fury, Director of the international peacekeeping agency known as S.H.I.E.L.D., finds himself in need of a team to pull the world back from the brink of disaster. Spanning the globe, a daring recruitment effort begins.

Starring Robert Downey Jr., Chris Evans, Mark Ruffalo, Chris Hemsworth, Scarlett Johansson, Jeremy Renner and Tom Hiddleston, with Stellan Skarsgård and Samuel L. Jackson as Nick Fury, and directed by Joss Whedon, “Marvel’s The Avengers” is based on the ever-popular Marvel comic book series “The Avengers,” first published in 1963 and a comics institution ever since. “Marvel’s The Avengers” is from Marvel Studios in association with Paramount Pictures, produced by Kevin Feige and directed by Joss Whedon from a story by Zak Penn and Joss Whedon with screenplay by Joss Whedon.

Now playing across the Philippines in Digital IMAX 3D, Digital 3D and regular format, “Marvel’s The Avengers” is distributed by Walt Disney Studios Motion Pictures International through Columbia Pictures.

|2012-04-30 13:55:05|Philstar.com By Dexter Rodrigo Matilla 1808|SM Prime in talks for 5 China properties|

SM Prime Holdings Inc., the country’s biggest mall developer and operator, is eyeing as many as five additional properties in China as possible expansion sites in line with efforts to widen its presence in the world’s second-biggest economy.

In a chance interview, SM Prime Chief Financial Officer Jeffrey Lim said the company is in talks for the properties, which range from five hectares to six hectares each.

He said most of the properties are in Fujian province, where SM Prime already operates SM Xiamen, its first mall in China, as well as SM Jinjiang.

“It’s still under negotiations. But Fujian will be the priority,” Lim said, referring to the company’s land acquisition efforts in that province.

The new locations would add to the company’s growing mall operations in China. Apart from Xiamen and Jinjiang, SM Prime also operates in two other China locations, Chengdu and Suzhou, taking in a total gross floor area (GFA) of 645,172 square meters (sq.m) in that country.

This year, it plans to open a shopping mall in Chongqing, with a GFA of 147,446 sq.m. This will be followed in 2014 by SM Zibo with 154,000 sq.m, and its largest shopping center yet, SM Tianjin, with 540,000 sq.m.

Lim said the builder’s earlier announced expansion into Xinxiang City, in Henan province, may proceed within the year.

The expansion projects are part of the company’s strategy to list its China assets either in Hong Kong or Singapore by 2015 in a public offering valued at about $500 million, Lim said.

SM Prime’s four malls in China booked a 34-percent increase in revenues to P620 million, accounting for 9 percent of the company’s revenues in the first quarter of 2012. Net income rose 44 percent to P140 million, or 5 percent of SM Prime’s profit during the period

SM Prime, which expects to have 46 malls in the country and five in China by the end of 2012, ended Monday flat at P16.70 each, giving it a market value of P232.11 billion.

|2012-05-02 11:51:20|Business Mirror By Miguel R. Camus / Reporter 1809|Thousands fall in line to job fair|

CITY OF SAN FERNANDO — Thousands of job seekers fell in line for about 22,000 job vacancies up for grabs during Tuesday’s Labor Day Job Fair at the SM City Pampanga Events Center.

Jerry Borja, Department of Labor and Employment (Dole) regional labor communications officer, said as of noon Tuesday, more than 10,000 overseas job vacancies and about 12,000 local employment opportunities were being filled up by human resource staff of some 300 employers here and abroad.

“That is for the entire region where simultaneous job fairs are ongoing. The figure represents part of the almost 400,000 jobs up for grabs. As of 12 noon, over 5,000 applicants queued for in-demand production and other professional jobs. We expect this to swell by 5 p.m. when we close; as we are aspiring to achieve the 15 percent ‘hired on the spot’ or HOTS target,” Borja said.

PAMPANGA. Thousands of job seekers troop to SM Clark during Tuesday’s Labor Day and Livelihood Fair organized by the Department of Labor and Employment, in cooperation with SM and local government units of Angeles City and Mabalacat. (Chris Navarro)

Dole Regional Director Raymundo Agravante told Sun.Star Pampanga that thejobs fair was part of the department’s mandate, as advocated by Malacañang, to solve unemployment.

“Sadly, unemployment in Region III (Central Luzon) rose to nine percent from eight percent in January this year. We expect a little more increase after we track down exactly how many fresh graduates seeking for jobs we have. But definitely, we will also continue with these job fairs to properly address unemployment in Central Luzon and the whole country as well,” Agravante said.

Lawyer Pearly Joan Turley, SM Supermalls assistant vice president for Human Resources, said SM will continue to partner with Dole, local government units and other line agencies in creating more jobs and employment opportunities for Filipinos.

“We’ve been in this partnership for five years now and we vow to continue with it to provide decent jobs for Filipinos. SM Supermalls alone, together with its affiliates and tenants, generate thousands and thousands of jobs where we operate. We are very happy to be part of this undertaking as we take pride of the Filipino labor force,” said Turley.

|2012-05-02 11:57:35|Sun Star 1810|Bulacan fairs welcome work applicants on Labor Day|

CITY OF MALOLOS—Over a thousand job vacancies in various fields of specializations from local employers and overseas recruitment companies are waiting to be filled up in job fairs in SM Marilao and SM Baliuag as part of the celebration of Labor Day in Bulacan.

The job fairs were made possible through the partnership of the Department of Labor and Employment (DOLE) and the provincial government of Bulacan.

Maricel Cruz, provincial information officer of Bulacan said the Provincial Youth, Sports, Employment, Arts, Culture and Tourism Office was able to gather participating companies from various industries that include cyber services, banking and finance, and service crew jobs.

Applicants are advised to bring credentials or all the necessary documents for job applications such as résumé with pictures, certificate of trainings, among others.

Bulacan Gov. Wilhelmino Sy Alvarado advised Bulakenyo job seekers not to miss the events wherein they could be matched with productive opportunities as well as possibility to be hired on the spot.

On the other hand, Gladiz May Latiza, public relations officer of SM Marilao, said SM Supermalls have always been a catalyst in creating employment and business opportunities in all areas where they are located.

Latiza told the BusinessMirror that among the local companies participating in the job fairs include SM Supermalls (Shopping Center Management Corp.), SM Group of Cos., SM Tenants and Affiliates, Sterling Paper Products, Prudential Life Insurance Co., STI, Jollibee, Chowking, Carworld, Ford, Lemonsquare, Megs Inc., Toy Kingdom, Our Home, Multirich Food Corp., IndoPhil Group of Cos., Mared Rubber and Marketing Corp., Summit Multi-Services Cooperative, New Personnel Builder and Consultancy Services, Crown Asia Compounders Corp., Santino Metal, Mega Foundation International Corp., Tipco, Wellmade, ARM Resources Inc., B-Mirk Ent. Corp., Direct Sales Support and Personnel Services Inc., M.E Manpower Services, Costumer Touchpoint Resources Inc., Solace SPA/Nail Corner, Nucleus, Dunkin Donuts, Crown Pipes, EnerTech Corp., Q.C Styro Packaging Corp., Elnet Manpower Services, Fundlife Finance Corp., Save More, D’Jobsite General Services Inc., Maria Resources Corp., Mirof and Shia Hair.

Laniza said overseas job opportunities will be provided by Eye-quest International Manpower Services Inc., YHMD International Manpower Services, and Human Leaders Recruitment and Manpower Services.

She added that other companies are still expected to join the job fairs on their last minute opening.

|2012-05-02 11:58:46|Business Mirror By Ramon Efren R. Lazaro / Correspondent 1811|Arborist backs SM expansion|

The location of SM City Baguio is not an environment critical spot and neither is the property a heritage site nor listed as cultural and historical landmark, said a forestry expert.

Arborist Armando Palijon, a specialist in the care and maintenance of trees, made a tree health assessment study of the mall’s P1.2 billion redevelopment that would involve earth-balling of trees.

“There will still be more than enough space in the premises of the property that will be saved and continuously be used as green space if the SM expansion and redevelopment project is to be pursued,” he said.

In his findings, Palijon, an urban forestry practitioner, said the SM City Baguio property at Luneta Hill covered eight hectares with the mall covering 1.9 hectares while the expansion area would have 1.1 hectares or 3 hectares built-up area in all.

“This means that SM has 5 hectares of open space or 62.5 percent which is more than double than the 30% open space that is required by law (Presidential Decree 953),” he noted.

As planned, SM City Baguio’s multi-function building is designed as a green building with a sky garden that can compensate for the 182 trees in terms of carbon dioxide capture.

“The notion that it will take 30 years before the newly planted saplings will sequester CO2 and release O2 is completely wrong,” Palijon said, adding that photosynthesis starts right after the seed leaves have developed.

Citing the Department of Environment and Natural Resource’s inventory, he found the SM property had 97 Benguet Pine and 43 Alnus trees that were covered by an earth-balling permit.

“The DENR requires SM to replace 30 saplings for every tree, a ratio set by the DENR based on the capacity of the seedlings or saplings to sequester CO2 and O2 in lieu of one grown tree that will be removed from site or a total of 5,460 saplings for all the 182 trees to be earth-balled,” he said, noting that SM committed to plant 50,000 saplings of Benguet Pine or other native species in and around Baguio City.

SM has planted 2,000 saplings of Benguet Pines at Busol Watershed and is supporting the maintenance of the trees with 48,000 more saplings to be planted under the Baguio Re-greening Movement across 40 hectares to match 1.1 hectares of space allocated for the expansion.

|2012-05-03 00:00:00|Manila Standard by Dexter A. See 1812|Forestry expert backs SM Baguio mall expansion|The property where SM City Baguio sits is not within the environmentally critical area, and is neither a heritage site nor a culturally and historically significant area, a forestry expert disclosed after conducting a tree health assessment in the area.

Armando Palijon, an arborist or a specialist in the care and maintenance of trees and an urban forestry practitioner, conducted the tree health assessment study of SM City Baguio’s P1.2 billion redevelopment project that would involve earth-balling of trees.

In his paper, he said, the SM City Baguio property on Luneta Hill has a total area of eight hectares with the existing mall covering 1.9 hectares while the expansion area is only 1.1 hectares, or a total of 3 hectares built-up area. This means that SM has five hectares of open space or 62.5 percent, more than double the 30 percent open space that is required by law (Presidential Decree No. 953).

He added that apart from replanting, SM City Baguio’s multi-function building that would be constructed has also been designed as a green building with a sky garden that can compensate for the 182 trees in terms of carbon dioxide sequestration. This sky garden is being considered as a possible model for Baguio, with rainwater harvesting, park finders and other environment-friendly facilities.

|2012-05-03 09:50:38|Malaya 1813|UNIQLO SM Mall of Asia Opens This Coming June 15|
UNIQLO, a global apparel brand known for its philosophy of not following trends yet allowing people to express themselves through its unique clothing line, launched today the “UT VOTE & WIN” promo(http://www.uniqlo.com/voteandwin), an online and on-site promotion for UT, UNIQLO’s T-shirt brand. The UT campaign seeks to provide Filipinos an early experience about UT and UNIQLO before the global brand opens its first store in the Philippines, which will be located at the SM Mall of Asia (SM MOA) in Pasay City, this coming June 15, 2012.

“We’re very excited about this promo because it gives us the chance to show Filipinos the kind of products that UNIQLO has, particularly the UT, which I’m sure many Filipinos will love, ahead of our store opening on June 15. By giving them the chance to win UT this early, Filipinos will get to experience what UT is, which is all about PERSONAL EXPRESSION, a tool for “making a statement,” declares Katsumi Kubota, Managing Director of Fast Retailing Philippines.

“UT VOTE & WIN” promo participants have the chance to win free UT products or a free trip for 2 to Tokyo, Japan, which includes round-trip tickets for 2 and hotel accommodation. There are two easy ways to join: via the UNIQLO Philippines Facebook page or by visiting the UNIQLO Hoarding Wall at the SM Mall of Asia.

The featured UT designs that participants can vote on are Barbie, Hello Kitty, Concord Graphic, Metal Gear, Lords of Liverpool, Andy Warhol, Orla Keily, Laura Ashley, Gundam, and Corporate Collaborations among others. All these designs will be available at the UNIQLO Philippines store.

If joining via “Facebook,” simply “LIKE” the UNIQLO Philippines Facebook page, click the “UT VOTE” button and you will be redirected to the “App” page. Allow the “App” to start voting for your favorite UT design, and you can instantly win a UT product . Another option is by going to the UNIQLO Hoarding Wall at the SM MOA every Saturday and Sunday and log on to facebook using the Ipads provided in the activity area. You can also share the UT VOTE & WIN promo link to your friends to increase your chances of winning.

There will be 100 winners of UT merchandise weekly. The winner of the Japan trip, on the other hand, will be chosen among participants who voted the winning UT design, via electronic raffle and will be awarded on the opening date of the UNIQLO Philippines store on June 15, 2012. Plus, if UNIQLO hits 150,000 facebook likes, more UNIQLO fans will have the chance to win a trip for 2 to Japan.

Online winners of UT products will be sent a confirmation email before they can claim their prize at the UNIQLO Redemption Booth at the UNIQLO Hoarding Wall, while those who voted in SM MOA can claim their UT product immediately also at the UNIQLO redemption booth.

Promo starts April 28, 2012 and ends on June 10, 2012.

|2012-05-04 10:32:00|Business Mirror 1814|SM Baguio, a bit of bad luck|

WHEN SM Baguio was about to remove 182 fully grown pine trees from its eight-hectare property on Luneta Hill to make way for the expansion of its mall in that city, it never expected to find itself clashing head-on with bleeding-heart environmentalists, Church officials and city residents.

After all, SM Baguio never really intended to do anything as destructive as “deforesting” or tree-cutting within its property.

A spokesman said while it did intend to clear about a hectare of vegetation to make way for the expansion of the mall’s parking lot, it was absolutely sure it was not violating any environmental laws. With five hectares of open space left, that would be equivalent to 62.5 percent, which is more than double the 30-percent open-space provision required by law (PD 953).

It had a permit from the Department of Environment and Natural Resources (DENR) to earth-ball the trees that would be affected by the mall expansion. “Earth-balling” means that a tree would be dug up in such a way as to leave its root system essentially intact so that it can continue to flourish after being replanted elsewhere.

Not only that, the SM Prime Holdings property on Luneta Hill is not situated within any environmentally critical area. It is also not a heritage site or what might be called a culturally and historically significant area. Therefore, what could have been so grievously wrong with relocating a number of pine trees to make way for a mall expansion that would lead to the creation of more jobs for the people of Baguio City?

A forestry expert even testified that there would be more than enough space in the eight-hectare property that would be left as open or green space even if the expansion or redevelopment were to be pursued according to plan.

To show that it is just as concerned with preserving the environment as anybody else, SM has committed to plant 50,000 saplings of Benguet Pine or any other native species in and around Baguio City. It has also declared a willingness to adopt and maintain parks in the city.

Consistent with its commitment, it has already planted 2,000 saplings of Benguet Pine at the Busol Watershed. It is also supporting the maintenance of the trees and protection of the area. It is also committed to plant 48,000 more saplings in collaboration with the DENR and the Baguio Regreening movement.

As it has turned out, however, the protests aired against SM’s alleged attempt to “deforest” Luneta Hill—which were really based on exaggerations—brought about the issuance of a temporary environment protection order or Tepo by the Baguio Regional Trial Court.

A Tepo is different from a temporary restraining order (TRO) in the sense that the former is really more “indefinite” than “temporary” because it has no fixed duration. (The garden variety TRO is, on the other hand, literally temporary, or good for a short, fixed duration. A female judge who issued an “indefinite” TRO in a recent case is now in danger of losing her job for ignorance of the law).

So now, the expansion of SM Baguio has been placed on hold for an indefinite period. This is bad for the city government in the sense that an expected dramatic increase in sales and real-estate taxes it collects from the SM group of companies will have to be indefinitely delayed.

Right now, the SM group is among Baguio City’s top 10 taxpayers accounting for 13 percent of the city’s total revenue earnings. With the completion of its mall expansion, SM sees its tax payments increasing to as much as 18 percent of the city government’s total annual revenue.

In sales taxes alone, a spokesman says SM pays P145 million per quarter to Baguio City, which amounts to some P580 million yearly, after it has expanded, this could easily increase by 30 percent to 40 percent. But city authorities would just have to wait till the Tepo is lifted.

The way I see it, the people who have protested SM’s tree-clearing activity on Luneta Hill cannot really be faulted for their emotional response to SM’s expansion move. They’ve seen how the trees of Baguio City have been wantonly destroyed to the point that Baguio City’s weather has ceased to be nippy at high noon.

They’ve seen how so-called high-impact development projects and the establishment of special economic zones in the past two decades have led to the denudation and deterioration of many parts of the city.

In other words, you no longer hear people referring to this city as the country’s summer capital.

Thus, it must be nothing else but a stroke of bad luck that the SM Mall—which seems fully aware of its corporate social responsibilities—should find itself to be at the receiving end of a Tepo.

Those protesting decades of abuse had to have a high-profile target or symbol and the SM Mall just happened to be conveniently there to serve their purposes.

But it won’t be too long, I’m sure, before the courts decide in favor of the wrongly accused.

|2012-05-04 10:33:20|Business Mirror by BUTCH DEL CASTILLO / OMERTA 1815|My City, My SM, My Cuisine Season 2 launched in Rosales|

Melchor Corpuz (center) and Marissa Marsan (second from right) won the My City, My SM, My Cuisine cookfest with their bangus entree and tupig dessert recipes, respectively. They are shown with Vice Gov. Ferdinand Calimlim (right), Pangasinan First Lady Priscilla Espino (second from left) and SM Supermalls VP for marketing and communications group Millie Dizon (left).

(May 06, 2012 ) MANILA, Philippines – My City, My SM, My Cuisine recently had a grand launch as it celebrated the exquisite flavors of Pangasinan at SM City Rosales. The event began with a spectacular parade of the Talong Festival Dancers of Villasis and the Corn Festival Dancers of Sto. Tomas, who gave mall goers a glimpse of the pomp and pageantry of the country’s third largest province.

Rich traditions, after all, highlight Pangasinan’s culinary culture. It is known for poncia or handaan, lavish feasts centered on food wherein entire barrios or barangays participate. Each member of the community works hand in hand in the preparation of food, the cooking of handa or the dishes to be served, down to the plating and serving.

It is this tradition of community cuisine that has given rise to the many food festivals in the province — the famous Bangus Festival of Dagupan, the Talong Festival of Villasis, the Patupat Festival of Pozorrubio, the Puto Festival of Calasiao, the Mango and Bamboo Festival of San Carlos City, the Sugpo and Malaga Festival of Binmaley, the Longganisa Festival of Alaminos City, the Pandan Festival of Mapandan, and the Tupig Festival of Laoac.

A joint project of SM and the Philippine STAR with support from Homeworld, My City, My SM, My Cuisine Season 2 celebrates the flavors of Philippine regional cuisine through a culinary contest featuring two signature recipes from ten cities where SM malls are located.

Held just in time for the Bangus Festival, the event also showcased two of Pangsinan’s signature dishes in a cookfest — bangus for the entree and tupig for the dessert.

The My City, My SM, My Cuisine, Rosales judges: Elizabeth Lim from The Philippine STAR, Bernadette Arellano from Moringaling Philippines Foundation, Inc. and Philippine Institute of Traditional and Alternative Healthcare, Cora Alvina food critic and researcher and board of trustee from Met Museum, historian and food researcher Sonny Tinio, and artist and cheesemaker Jemil Araos.

Melchor Corpuz’s ginataang boneless bangus na binalot sa dahon ng saging entree and Marsie Marsan’s delightful tupig dessert were adjudged winners by the distinguished board of judges, which included Moringaling Philippines Foundation chairperson Bernadette Arellano, historian and food researcher Sonny Tinio; farmer, cheesemaker, and landscaper/artist Jemil Araos; the Philippine STAR’s Elizabeth Lim; and Metropolitan Museum trustee Cora Alvina.

They each received P5,000 worth of SM gift certificates and Homeworld gift packs from Pangasinan first lady Priscilla Espino, Vice Governor Ferdinand Calimlim, and SM vice president for marketing Millie Dizon. The rest of the finalists received P1,000 worth of SM gift certificates and gift packs from Homeworld.

The event had a Hundred Islands theme, inspired by Pangasinan’s spectacular tourist destination with tropical touches — shells, boardwalks, surfboards, even a vintage Chevy. Guests came in colorful Hawaiian shirts and floral printed sun dresses in line with the theme.

Espino, Vice Governor Calimlim, Laoac Mayor Silverio Alarcio enjoyed the two beautiful showcases — a bamboo inspired island hut highlighting products from Pangasinan; and a tourism center featuring large postcards of the province’s different food festivals.

Other guests included Dr. Irmina Francisco, administrative officer from the office of the governor, Butch Velasco of the Pangasinan information office, Anna Velasco of the City information office, and beauty queens from the province. Tourism officers — Aila Rose Seradoy of Rosales, Genaro Lopez of Laoac, and Rusela Lazo of San Fabian — were also exchanging food notes during the event.

In keeping with the My City, My SM, My Cuisine tradition, a video presentation showcased the heirloom recipes three of the province’s prominent families. No less than Pangasinan first lady Espino, was the gracious hostess at the Urduja House where she prepared her signature Pinaputok na Tilapia recipe.

Dagupan City Councilor Brian Lim, the son of Bangus Festival founder and Mayor Benjie Lim and chairman of the 2012 Bangus Festival, showed that there were indeed many innovative ways to cook his city’s prized milkfish with his savory Bangus Rissoto recipe. Gerry Austria, the man behind Pangsinan’s famous Matutina Seafood Haus and Restaurant shared its specialties — pinakbet and buttered crab. Both cooking demos took place at the Rosales Presidencia through Mayor Ricardo Revita.

The man behind 40 years of Matutina’s Seafood Haus and Restaurant Gerry Austria prepared his heirloom and signature dish pinakbet and buttered crab. He was represented by his niece Cherrylyn A.Cisneros (center).

These were served in the delicious luau inspired spread along with other Matutina favorites and grilled seafood specialties, mixed fruit platters in watermelon and pineapple bowls, rice cakes, tupig, and fresh buko juice and tropical drinks.

My City, My SM, My Cuisine in Rosales is the first in Season 2 of this exciting culinary road show. Last year, it made stops in thirteen stops all over the country, beginning in Santa Rosa where participants competed for the best Puchero with Lauya and Puto Maya with Kilawing Puso ng Saging. Its last stop was in SM City Clark, where Kapampangan foodies showcased the best tidtad and tocino del cielo recipes.

My City, My SM, My Cuisine is a joint project of SM and the Philippine STAR with support from SM Homeworld, the Province of Pangasinan and the Pangasinan Tourism Association.

SM shoppers and Philippine Star readers can submit their recipe of their city’s selected entre and dessert along with their name, address, and occupation to [email protected]. They can also mail these to the Publicity Department, Building C, SM Corporate Office, JW Diokno Boulevard, Pasay City, or the Lifestyle Section of the Philippine STAR at R. Oca Jr. and Railroad Streets, Port Area, Manila.

Ten finalists will be selected — five for entrees and five for dessert. Two winners — one for entre and one for dessert — will be selected from each city during the culinary contest that will be held in time for the city’s festival. The two winners will each receive P5,000 worth of SM gift certificates, while finalists will receive packs from SM Homeworld.

|2012-05-07 14:04:25|The Philippine Star 1816|Caught in the hack|

This is an undeniable point on the 182-tree issue over the P1.2-billion construction of the SM group in its mall property in Baguio City: What compelled SM to pursue the project was the power of nature itself—the environment.

The project has been inevitable for years now, even to the point of being obligatory. Beside the existing SM mall is one hectare of slope being eaten away by soil erosion. Experts have urged SM to stop the erosion through modern preventive structures, such as those on steep sloping terrain in Switzerland or Hong Kong.

On the slope are precisely those 182 trees. SM has been reinforcing the ground for years to prevent them from falling. All of a sudden, the same trees have become the subject of loud public protest that attracted extensive media coverage. How dare SM to want to transfer those trees to another site in its 8-hectare property!

Look at that—the soil erosion actually endangered all those 182 trees, and they could be uprooted in one major landslide, forcing SM to spend P1.2 billion to try to save them through a scientific technique called “earth-balling” and thus create the free space for the anti-erosion structure.

When SM decided to build the structure, the group had two choices: cut down the trees or transfer them. In fact, a renowned urban forestry expert, Armando Palijon, who is a professor in UP-Los Baños, reportedly recommended that SM simply harvest the trees.

A doctorate degree holder, Palijon is the same expert who oversaw the “earth-balling” of century-old acacia trees in a construction project in Cebu City to save them. SM commissioned him to study the Baguio project. He recommended the harvesting of the trees, because the SM property was not an environmentally critical area. He also noted that it was neither a heritage site nor a historically significant area.

It was argued that SM would still have more than enough space in the property as “green space” even with the construction of anti-erosion structures at the slope. Records showed that SM would still have five hectares of open space, or more than 60 percent of its property, while the law required an open space equivalent to only 30 percent of the property.

Yet, instead of hacking away at those trees, SM chose to save the trees by transferring them to another site.

Ironically, SM got hit in media as an irresponsible greedy mall developer, with complete disregard of the environment, precisely because of its construction project that was its very attempt to save the trees. Media portrayed SM as having been caught in the act of desecrating a heritage site—or something like that.

How did that happen?

It was not as if SM was trying to pull a fast one on Baguio City. More than a year ago in 2010, SM decided to build the structures to stop the erosion. Since SM would do the construction anyway, Baguio City officials suggested that SM incorporate in its plan a parking building to ease the traffic on the main roads of the city.

Moreover, to put in its project the label “green construction,” SM hired consulting groups from the United States that provided the planning for a so-called LEED certification, which has been the global standard—the ultimate—in “green construction.”

For more than a year, SM worked to secure permits from the DENR and the Baguio LGUs, including the barangay. It held public consultations, holding exhibits and presentations, involving the Baguio media as well. Thus, it seemed to SM that all the groups that mattered in Baguio really understood the plans.

Those groups included, aside from the DENR, the city council, barangay officials, religious groups (such as those headed by Bishop Carlito Censon) and the media. Also involved in the project from the start was the Baguio Regreening Movement, considered the largest environmental group in the city, or perhaps even the most credible, which reportedly did not object to the plan.

Indeed, the project was good for the environment. As part of the project, SM committed to maintain more than a thousand trees in its Baguio property, plus it would plant 50,000 trees more in the next three years. This would be on top of saving those 182 trees from certain destruction due to soil erosion.

For transferring those 182 trees, the DENR even required SM to plant almost 5,500 saplings, or 30 saplings for every tree, a ratio set by the DENR as replacement for the capacity of those trees to sequester CO2 from the atmosphere. And, mind you, SM was not even going to cut down the trees.

From what I gathered, SM has already planted 2,000 saplings of Benguet Pines at the Busol Watershed. Okay, that should leave SM with 48,000 more saplings to plant in the next three years.

In the end, of course, SM was still in the mall development business. To recover its P1.2-billion investment in the “green construction,” it included in the plan additional shopping spaces.

Perhaps the protest—the issue over those 182 trees—was targeted at those shopping spaces. How dare this SM make money! It seemed that some protesting groups did not want SM to recover its investments in a project that would try to protect the environment by saving 182 trees and planting 50,000 more.

|2012-05-07 14:09:36|Philippine Daily Inquirer By Conrado Banal 1817|SM Foodcourt, Coca-Cola Sign Contract|

|2012-05-17 17:52:24|Manila Bulletin 1818|Navotas school gets new schoolbuilding from SM Prime, Deutsche Bank|

Manila, Philippines — The Navotas Elementary School in Tanza, Navotas is the proud owner of a new two-storey, four-classroom schoolbuilding built by SM Prime Holdings and Deutsche Bank Ag Manila.

As the deed of donation was signed by representatives of the two companies and turned over to Navotas Mayor John Rey Tiangco, school principal Edmundo Guiwan, and assistant to division superintendent Aurelio Alfonso, there was much rejoicing among the school’s students and teachers.

The schoolbuilding, complete with tables, chairs, electric fans, computers and books, and fitted with toilets per classroom, is the seventh schoolbuilding project undertaken by the partnership of SM Prime Holdings through the SM Foundation & Deutsche Bank Ag Manila.

Employees of the bank spent weekends painting murals depicting moral values in the four classrooms. There are 2,300 students enrolled in the school studying on two shifts with 50 – 52 students per section.

Other joint schoolbuilding projects are in Caloocan, Cavite, Taytay, Quezon City, and Antipolo.

The school is the 45th schoolbuilding so far built nationwide by the SM Group either on its own or in partnership with other companies to ease classroom shortage in the country. More schoolbuildings are being built in time for school opening.

School principal Guiwan, in his brief speech, considers SM and Deutsche Bank as the school’s partners in educational advancement and assures the donors that they will take care of what was given to them, saying that the schoolbuilding will give both the students and the teachers a conducive atmosphere for teaching and learning.

|2012-05-17 17:54:06|Manila Bulletin 1819|Talk about the trees Friday|

Many column-inches and broadcast minutes—not to mention righteous anger and public ire—have been expended on the issue of the pine trees being earth-balled on the grounds of SM Baguio.

Right now, after a Tepo (or temporary environmental protection order) was issued against SM, the earth-balling has been stopped, and the 41 balled trees are being maintained so that they don’t shrivel up and die. But perhaps this is the best time to talk about the case and the fate of the trees, now that emotions have presumably cooled down and everyone would be able to sit down and talk peaceably and reasonably.

Guesting at the Bulong-Pulongan sa Sofitel last Tuesday were SM officials Annie Garcia, president of SM Supermalls, and Bien Mateo, vice president for operations. SM Baguio began its operations in 2003, they said, on the property where the old Pines Hotel once stood. But by 2005, stones on the rip-rap retaining wall had started falling off. Another episode took place in 2010, and this time, said Garcia, they decided a “more permanent” solution needed to be found. After all, the weakened wall constituted a threat to public safety.

The solution hit on was to build a sturdier retaining wall and to reinforce it and perhaps maximize the space, a seven-story parking structure and “Sky Garden” would be built alongside it. The trouble was that, to make room for the proposed wall and structure, a total of 182 pine trees and “Japonica alnus” trees would have to be removed.

* * *

The SM officials made clear that they secured the necessary permits from the Department of Environment and Natural Resources (DENR) and the local government. The decision was to “earth-ball” the trees that would be removed, and transplant them elsewhere on the SM Baguio property and on a nearby DENR reservation. In addition, SM promised to plant about 300 trees on the planned Sky Garden and another 20,000 trees in Baguio and environs.

But protests against the planned removal of trees built up, with “Save 182,” a multisectoral “protest movement,” organizing and holding almost-daily marches and vigils at SM Baguio.

What bemuses the SM officials is that only 182 out of more than 1,300 trees on the SM premises will be transplanted (not cut down). Even more puzzling is that thousands of pine and other trees have been cut down in previous years in Baguio to make room for malls and new structures, including in Camp John Hay which is supposed to be a “protected area.”

There are many theories suggested for why the protests have been so vehement, and why SM Baguio seems to have been singled out. But what remains clear is that if our hearts bleed for trees, let them bleed for trees everywhere, and not just for trees being cleared by a retail giant.

|2012-05-18 11:29:36|Philippine Daily Inquirer By Rina Jimenez-David 1820|Consumer-driven companies forecast to do well this year|

CONSUMER DRIVEN firms such as those in real estate and personal care are seen to ramp up expansions this year to take advantage of increased government spending and the growing middle-class, speakers said at a forum yesterday.’

“There are signs that this will be a year of growth, with the Philippines being the so-called ‘sweet spot’ in Asia. Private consumption will be a growth driver thanks to an increase in employment and salaries,” said Trade Undersecretary Adrian S. Cristobal, Jr. at the Philippine Consumables Markets Roundtable Forum in Makati City yesterday.

Already, there has been a 38% growth in registrations of investment pledges in 2011, which is seen to grow further this year particulary for the agri-business, real estate, and tourism sectors, said Felicitas R. Agoncillo-Reyes, Board of Investments assistant secretary.

She added that government is expected to boost spending this year following claims of underspending in 2011.

A bulk of this year’s investment growth will be supported by domestic consumption, noted Victor A. Abola, University of Asia and the Pacific associate professor.

Personal care products manufacturer Splash Corp., for one, is taking advantage of this expected growth uptick by ramping up its investments in the food sector, following its purchase of the food business of Barrio Fiesta Manufacturing Corp.

“Our personal care products are already number one, but we also see growth potential for food due to the country’s young population and changing lifestyles,” Veneranda M. Tomas, Splash executive vice-president and chief financial officer.

Meanwhile, Jeffrey C. Lim, executive vice-president and chief financial officer of SM Prime Holdings, Inc., said the top mall developer is eyeing as much as seven new properties in China for mall expansions.

“As disposable income increases, you will see a lot of people spending more,” Mr. Lim said.

Listed companies have also been raising capital to bankroll their respective expansion plans, as indicated by the P37 billion capital raised as of April, which puts the local bourse on track to a record P197 billion in capital-raising this year, said Hans B. Sicat, Philippine Stock Exchange president and chief executive officer. — Franz Jonathan G. de la Fuente

|2012-05-18 11:31:05|BusinessWorld 1821|Sy-led SM Prime eyes 5 more malls in China|

MANILA, Philippines – The Sy group is eyeing 5 more malls in China, an official of its mall developer and operator unit said.

SM Prime Holdings, Inc. Chief Finance Officer Jeffrey Lim said the group is already in talks to keep their long term strategy of growing their portfolio of investments in China.

He added that these additional locations may probably closed one by one rather than all at once.

‘We’re still looking for opportunities. China is for the long term growth of the company which may be realized over 5 years. Currently, the China business is still only about 10% of the total,’ Lim said at the sidelines of Philippine Consumable market roundtable forum on Thursday, May 17.

Manpower, he said, remains an issue since language barrier prompts them to train Filipino managers first then send them to work in their China malls for two years.

The new locations would add to the company’s 4 malls in China. Apart from Xiamen and Jinjiang, SM Prime also operates in two other China locations, Chengdu and Suzhou, taking in a total gross floor area (GFA) of 645,172 square meters (sq.m) in that country.

Lim said the builder’s earlier announced expansion into Xinxiang City, in Henan province, may proceed within the year.

The expansion projects are part of the company’s strategy to list its China assets either in Hong Kong or Singapore by 2015 in a public offering valued at about $500 million, Lim said.

SM Prime’s 4 malls in China posted a 34% increase in revenues to P620 million, accounting for 9% of the company’s revenues in the first quarter of 2012.

He added that they are also looking at other countries but there are no serious talks as of the moment.

With all those plans for expansion outside the country, Lim said Philippines will still give the company growth in the next 3 to 5 years on the back of good prospects and rising disposable income of Filipinos.

‘We’re still going to focus in the Philippines. There have been changes in preferences of Filipinos and they are opening up to new trends. You see a lot of people buying new things than what they are used to,’ he said.

He added that SM Prime, by opening malls in the southern and northern part of the country, is developing more choices, better opportunities and entrepreneurs especially in the provinces. – Rappler.com

|2012-05-18 11:32:13|RAPPLER.COM 1822|SM eyes 5 more malls in China|

SM Prime Holdings Inc. will build five more malls in China, which would more than double the four malls it is currently operating.

Chief finance officer Jeffrey Lim said the building of the five malls will be spread out in the following years.

SM has malls in Xiamen and Jinjiang in Southern China, Chengdu in Central China, and Suzhou in Eastern China.

In September, SM Prime is set to open its fifth mall in Chongqing. At present, SM has 51 malls, 46 of them here in the Philippines.

The malls have a total gross floor area of 6.3 million square meters.

SM Prime is steadily increasing its portfolio of China malls, focusing on second- and third-tier cities in selecting sites.

Lim said China operations reported a 4 percent growth in revenues for the first quarter of year.

SM Prime is also working to complete the construction of its SM Zibo and SM Tianjin, which will have 160,000 sq.m. and 530,000 sq.m. of gross floor area, respectively.

SM Prime, meanwhile, is expected to close its P7 billion fundraising by the second week of June.

SM Prime had earlier tapped First Metro Investments Corp. for the issuance of a five-, seven-, and 10-year corporate notes.

|2012-05-18 11:33:16|Malaya by ALBERT CASTRO 1823|Despite tension, SM Prime eyes more China ventures|

Manila, Philippines – Unfazed by the tension between China and the Philippines over disputed waters off the West Philippine Sea, SM Prime Holdings Inc. is looking to acquire five more properties in China to support its aggressive expansion in the world’s second biggest economy.

SM Prime chief financial officer Jeffrey C. Lim said the company sees vast opportunities in China given its growing population and emerging middle class.

He said China is the group’s second-biggest market and would rather build its presence in the fast-growing China market for now than experiment with new ones.

He added that the group wants to reach out to new markets, noting that most of these properties are located in Fujian province where SM Prime already operates SM Xiamen and SM Jinjiang.

Apart from Xiamen and Jinjiang, SM Prime also operates in two other China locations – Suzhou and Chengdu.

SM Prime currently has four malls in China, which pitched in P620 million in revenues or nine percent of the group’s total revenues. Combined net income of these malls amounted to P140 million, up 44 percent, contributing five percent of SM Prime’s total profit.

The expansion projects are part of the SM Group’s strategy to list its China assets either in Hong Kong or Singapore by 2015 in a public offering that could fetch up to $500 million in proceeds.

Lim said SM Prime is still pushing through with its expansion plans for China even as the Chinese government warned the Philippines of not undermining its ability to protect its sovereignty with respect to the disputed Panatag (Scarborough) Shoal.

China has repeatedly said the disputed area is an inherent part of its territory and that the surrounding waters are historic fishing areas.

Meanwhile, Lim said SM PRIme will raise P7 billion from the issuance of corporate notes next month to be underwritten by First Metro Investment Corp.

The notes will have a maturity of five, seven and 10 years.

|2012-05-18 11:34:11|The Philippine Star By Zinnia B. Dela Pena 1824|SM Prime to pursue expansion program in mainland China|

SM Prime Holdings Inc., the country’s biggest mall developer and operator, is not slowing its expansion program in China despite an ongoing dispute between the Philippine and Chinese governments over a shoal in the West Philippine Sea.

In a chance interview with reporters on Thursday, SM Prime Chief Financial Officer Jeffrey Lim said the company will pursue new projects in China. He said the mall operator has so far not seen any public backlash from customers in China arising from the highly publicized dispute.

He said the company is in ongoing negotiations for another five properties, mainly in Fujian province, where SM Prime already operates SM Xiamen, its first mall in China, and SM Jinjiang.

Apart from Xiamen and Jinjiang, SM Prime also operates in two other locations—Chengdu and Suzhou—allowing the company to hold a total gross floor area of 645,172 square meters in China. This year it plans to open a shopping mall in Chongqing to be followed in 2014 by SM Zibo. SM Prime is also building its largest shopping center yet in Tianjin City.

Lim said the company is likely to raise P7 billion from the sale of five-, seven- and 10-year corporate notes, after exercising a P2-billion overallotment option. The transaction was solely arranged by First Metro and Investment Corp.

“We will draw [the funds] in the second week of June,” Lim said.

Proceeds would help finance the company’s aggressive expansion plans. For this year, SM Prime plans to spend P14 billion in the Philippines and another P7 billion in China to open new malls and expand existing shopping centers.

SM Prime reported last month that net income in the first quarter grew 15 percent to P2.43 billion as revenues hit P7.03 billion, up 16 percent.

Shares of the company jumped 4.1 percent to P16.20 each on Thursday, giving the mall operator a market value of P225.1 billion.

Philippine Daily Inquirer: SM to sell P7B in debt notes, eyes bond offer By: Doris C. Dumlao

Leading shopping mall developer SM Prime Holdings is set to raise P7 billion from the sale of debt paper to selected institutional investors by next month.

It is also considering a retail bond debut by the second semester.

SM Prime chief finance officer Jeffrey Lim told reporters at the sidelines of the Philippine Stock Exchange-Asiamoney forum on “consumables markets” that the company would soon complete the documentation of a corporate note issuance with tenors of five, seven and 10 years.

Lim said the sale of debt notes, the initial size of which was set at P5 billion, could be scaled up to P7 billion and would likely be finalized by June 22. The issuance will be arranged by First Metro Investment Corp.

“We’ll see if we need more funding in the second half. Then, I think the option for us will be more retail rather than corporate notes issue,” Lim said.

According to Lim, SM Prime has yet to tap the retail bond market because the financial system is teeming with liquidity that banks have been lending money at attractive rates.

“It’s better for us to get that [funding through corporate notes] because of the shorter process,” he said.

Because corporate notes are issued to no more than 19 institutional investors, this process need not undergo the tedious securities registration process otherwise required for retail bond offering.

“But eventually, if you need bigger amounts because of regulations like SBL [single borrowers limit] and in case of Banco de Oro, DOSRI [lending limits to directors, officers, stockholders and related interests], we may have to tap retail bonds,” Lim said.

This year, SM Prime expects to grow net profit by 11 percent. Last year, SM Prime’s bottom line expanded by 15 percent.

In the first quarter, SM Prime grew its first-quarter net profit by 15 percent to P2.43 billion from a year ago as revenue from new and existing malls expanded.

Consolidated revenues grew by 16 percent to P7.03 billion year on year. The results were attributed to a mix of factors, such as additional capacity from new malls opened in the Philippines in the past two years, a same-store rental growth of 8 percent, and the rising momentum in its China operations.

By the end of this year, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined gross floor area of 6.3 million square meters.

|2012-05-18 11:35:13|Business Mirror: MIGUEL R. CAMUS / REPORTER 1825|Philippine Stocks: SM Prime|

SM Prime Holdings Inc. (SMPH) , the nation’s largest shopping mall operator, advanced 4.1 percent to 16.20 pesos, the largest advance since March 16. The company will “sustain” profit growth this year, Chief Financial Officer Jeffrey Lim said in a forum in Manila. Profit grew 11 percent in 2011 net of its malls in China, Lim said. SM Investments Corp. (SM) , parent of SM Prime, gained 2.6 percent to 696 pesos, the most since April 2.

|2012-05-18 11:37:13|Bloomberg: By Ian Sayson and Weiyi Lim 1826|SM Foundation holds relief operation to fire victims of Barangay Luz|

SM Foundation Inc. together with SM City Cebu activated the Operation Tulong Express to help over 500 families that were left homeless in a fire in Barangay Luz, Cebu City recently.

The foundation and SM City Cebu donated pails, kilos of rice, noodles, and canned goods to the beneficiaries identified by the Cebu City’s Department of Social Welfare and Services.

Have something to report? Tell us in text, photos or videos.

The distribution of the relief goods was spearheaded by mall manager Sherry Tuvilla and DSWS Chief Ester Concha.

The Operation Tulong Express is a calamity response program of SM Foundation, with a mission to extend assistance to calamity victims. The foundation is committed to help the community where SM malls are located.

SM Foundation Inc. is the corporate social responsibility arm of the SM Group. It focuses on four major programs and areas of advocacy, namely, education, religious, outreach, and health.

The foundation aims to help underprivileged people in the Philippines. It was established in 1983 by the founder and chairman of SM Group, Henry Sy.

Published in the Sun.Star Cebu newspaper on May 18, 2012.

|2012-05-21 10:58:58|SunStar 1827|Mall assists Bo. Luz fire victims Monday|

THE SM Foundation Inc. extended help to fire victims in Bo. Luz, Cebu City.

The foundation, together with SM City Cebu, activated its “Operation Tulong Express” for the 500 families that were left homeless by a fire that hit the barangay last May 11.The foundation and SM City Cebu donated pails, rice, noodles and canned goods to the beneficiaries identified by the Department of Social Welfare and Services of Cebu City. The founation distribution of the relief goods was spearheaded by mall manager Sherry Tuvilla and DSWS Chief Dr. Ester Concha.
The Operation Tulong Express is a calamity response program of SM Foundation, which is committed to help the community where SM malls are located.

|2012-05-21 10:59:45|Inquirer Cebu 1828|Batch 2012 SM Scholars to be honored by Sy Family|

|2012-05-21 11:00:33|Business Mirror 1829|SM’s sleek new arena a strategic shift in Sy family’s vision|The Sy family has outdone itself for more than a quarter of a century with successively bigger malls, wider movie screens and cheaper bargains. Their philosophy of providing as enjoyable an experience as possible to as many people as possible has served them well: SM Investments is now the third largest corporation in the Philippines, according to Forbes’ Global 2000 List.

But while the sheer scope of SM’s projects is admirable, casting such a wide net can leave the consumer feeling a little cold. The curation of shopping and dining experiences that transcended the sum of their parts rested with more exclusive malls.

Not anymore. MOA Arena, set to open its doors on May 21 for Lady Gaga’s “Born This Way Ball” tour, represents a significant shift in SM’s thinking. ”Experience” is the key word here: rather than being just a bullet list of impressive numbers, the bulk of the arena’s selling points directly contributes to a better experience for people of every stripe.

“From the beginning, the Sy family was very conscious about bringing in a world-class venue like this one. So we engaged designers from the US, from the structure down to the interior,” explains Edgar Tejerero, Senior Vice President of the Sy-owned West Avenue Theatres Corp., at a recent media event to show off the new arena.

Arquitectonica, a Miami-based firm, created MOA Arena’s signature eye shape. While the puns are already being coined – “eye-con” is featured prominently on press freebies – the building’s slick design ensures that it won’t be called an eyesore (an accusation levelled at some of SM’s boxier malls).

Inside the arena, hundreds of craftsmen stress-test elevators, paint walls and polish chrome in anticipation of the upcoming concert. Lady Gaga songs relentlessly pour out of the arena’s speaker systems, as if to remind everyone of what’s at stake. While it won’t operate at 100% capacity for the American pop icon (the grand opening isn’t until June 16th), MOA Arena officials stress that the core experience will be intact for Gaga’s legions of fans.

The biggest indicator that SM really has its sights set on a universally upscale experience is in the seating allocation. “You’ll notice,” explains Tejerero, “’that our lower box and patron seats take up about 60% of capacity, compared to other venues where their upper box and general admission is about 70% of seating capacity.’ While lower box seats are undoubtedly more expensive, the fact that the lower box holds double the typical capacity means that volume will help offset the ticket cost.

While closer seats are good news for the common man, corporate suites are great news for the uncommonly rich man. MOA Arena boasts 31 long-term lease suites and 10 per-event suites, all located on the middle level of the arena. They’re decked out with sofas, mini-bars, private seats, and best of all, a dedicated CR (no more missing half the show because of a nature call). That the suites are located not in the nosebleeds (as is common in western countries) but in prime lower box real estate is telling: special care was taken to ensure that the people who spend the most need not bring binoculars to see Gaga’s ornate body decor.

The view from the box suites is breathtaking: one can take in the whole arena at a glance, from the entirety of the crowd to the performers. This panoramic view prevents the box suites from feeling too isolated. It’s a tricky balancing act to both engage the patron in the festivities while maintaining a high level of comfort, and one that MOA Arena pulls off expertly.

This attention to engagement trickles even into the upper box. In most stadiums, the more modest seats can feel like a cheat because it’s near-impossible to see what’s happening on the stage and court. In MOA Arena, they’ve addressed that problem architecturally by having the seats rise up more than fall back. A patron in the upper box will find himself reasonably close to the action, which is a boon for people who want a spectacle but might not want to empty their wallets for one.

But what’s a show without dinner? There will be a wide range of food available, from snacking mainstays like Krispy Kreme and Starbucks to unique experiences like the NBA Cafe (first of its kind outside the US) to Pit Stop by Yellow Cab Pizza Co. (which created an entirely new menu specifically for MOA Arena). If you’re lucky enough to find yourself in a corporate suite, you’ll also be lucky enough to find fine dining. “On the third level is a restaurant that will serve the corporate suites and the arena club members,” says Mr. Tejerero.

A research trip to the US ensured that no expense was spared on bells and whistles. “At first, the design called for only one [LED] ribbon on the third level,” says Mr. Tejerero. “But when Mr. Sy saw the Amway Center, he decided to have two. So what they can bring to Amway, we can bring to the Philippines.” In days past, an extra LED ribbon might very well have been scrapped to keep costs low. It’s a deft touch that gives a huge boost to the ambience.

Several features of the basketball hardcourt in the arena are built to NBA standards, giving instant glamor to the Sy-owned National University team playing in the UAAP. The court’s surface is made by Robbins Inc., which also supplies the floors for over half of the NBA’s arenas; a Jumbotron-esque eight-sided scoreboard made by Daktroniks hangs over the court; and Spalding provides retractable basketball hoops.

While SM still religiously chases after records – there are some “first in the Philippines” items here that seem needlessly focused on garnering prestige points, like the installation of the same CCTV system used by The Vatican – the weight of sheer numbers never threatens to drown out the experience. This newfound ability to marry mass accessibility with Class A exclusivity should be giving their competitors pause, especially with SM Aura, an upscale malling complex, being built across from Ayala’s Market! Market! in The Fort. You get the sense that SM is figuring out how to have their cake and eat it too – no small feat, and another first. – HS, GMA News|2012-05-22 11:20:57|GMA NewsOnline BY EMMANUEL NATOLA 1830|MOA Arena debuts with Lady Gaga concert|

MANILA, Philippines — The newly built SM Mall of Asia (MOA) Arena in Pasay City finally opens its doors to the public tonight with the controversial ‘Born This Way Ball’ concert of Grammy winner Lady Gaga.

The MOA Arena, built by the SM group, is positioned as one of the most high-tech events venues in Asia, as suggested by the eye-catching LED ‘ribbon’ on the arena’s exterior.

With a gross floor area of 64,085 square meters, the six-level building can seat 15,093 persons for basketball games and 10,311 for proscenium concerts, according to its official website.

The adjacent MOA Annex, meanwhile, houses a carpark building with 1,400 slots, as well as restaurants and merchandise stores.

‘The vision is to give an event venue na world class,’ said Allan Florendo, marketing head of the MOA Arena, who even compared it to venues in the United States.

The dressing room, which will be used by Lady Gaga, has been compared to a hotel suite, while the dugouts to be used by sports teams, are said to be similar to those seen in Hollywood movies.

Then there are the corporate suites, which come with dedicated parking slots, their own private restroom, and room and catering services.

After Lady Gaga, the MOA Arena will be the venue for the much-awaited joint concert of boy bands New Kids on the Block and the Backstreet Boys.

The opening game of the National Collegiate Athletic Association (NCAA) will also be held at the new venue.

Meanwhile, the grand opening of the MOA Arena on June 16 will feature top Filipino artists, Florendo said.

‘All events inside the arena is actually a feast for the eyes. At the same time all who come here want to be seen and want to see world class entertainment,’ said Sahara Garnicam of the MOA Arena’s corporate communications group.

|2012-05-22 11:24:41|ABS-CBNnews.com 1831|Hans-on|

Despite the surrounding protests and controversy, the two-night Lady Gaga concert held at the Mall of Asia Arena was an unqualified success. Thousands of fans, a lot of them dressed as outrageously as their idol, braved the congested traffic and went gaga over the controversial singer’s performances. The concert signaled the opening of the MOA Arena which we were told can accommodate as much as 20,000 spectators. Hans Sy (who’s on top of the SM Group’s mall development unit SM Prime Holdings as its president) worked almost 24/7 in the last two weeks to make sure that the preparations for the opening of the MOA Arena would be completed and ready for Lady Gaga.

Hans was telling us he was not really too keen on having the concert this early because he wanted all the plans to be completed for the venue. International experts were consulted to make sure the slick indoor Arena would evoke “world-class” from top to bottom, with its retractable seats and a spacious 2,000-parking capacity. But the concert promoter (Ovation Productions) was very insistent and really wanted the May 21-22 dates for the Manila leg of the “Born This Way” Asian tour. So on the first day of the concert, Hans himself was going around checking the venue, displaying the “Hans-on” work ethic that has made SM Prime the biggest shopping mall developer in the country with over P2.4 billion profits posted for the first quarter.

Congratulations to Hans Sy for a great job in overseeing the preparations!

|2012-05-24 10:23:34|The Philippine Star: SPY BITS By Babe Romualdez 1832|Movie surprises with Visa, SM Cinema|

EXPERIENCE more fun and excitement while watching movies with Visa and SM Cinema. Whether you use your Visa card to pay for your SM Cinema tickets online or over-the-counter, expect amazing perks just for you.

Every time Visa cardholders reserve and pay for their SM Cinema tickets online via www.smcinema.com. the P20 fee charged per ticket purchased will be waived. Just be sure to click Visa under Payment Options in the SM Cinema web site to enjoy the special discount.

For those who choose to pay for their SM Cinema tickets over-the-counter, every purchase of five movie tickets using a Visa card entitles customers to a food coupon, which they can use to avail of a popcorn tub, hot dog sandwich or drink for free at the snack bar. This promo is ongoing until September 30, and is open to all Visa credit, debit and prepaid cardholders.

Photo shows Visa Country Manager for the Philippines and Guam lain Jamieson (left) and West Avenue Theaters Corp. Senior Vice President Edsar C. Tejerero signing a memorandum of agreement to launch the new SM Cinema promotion for Visa cardholders

|2012-05-24 10:49:02|Business Mirror 1833|MOA Arena ready for hoops|

The brand-new Mall of Asia (MOA) Arena will open its doors to basketball next month. If the NCAA decides to hold its season opener at the P3.6 Billion facility on June 23, then the collegiate league will gain the historic distinction of being the first to stage a game on the Robbins maplewood court with NBA-standard Spalding goals, an eight-sided center-hung LED Daktronics scoreboard and two-sided shot clocks.

The NCAA will make a decision any day now on whether to hold the inaugurals at the MOA Arena or the Smart Araneta Coliseum which is reportedly the preferred choice of the TV coveror for practical logistical reasons.

If the NCAA decides on the Big Dome, then the first basketball game to be played at the MOA Arena will pit the PBA selection coached by Tim Cone against Yao Ming’s visiting Shanghai Sharks of the Chinese pro league on June 28. Another game involving the Sharks is being arranged against coach Chot Reyes’ Smart Gilas on June 30, also at the MOA Arena. For sure, the UAAP will launch its new season at the MOA Arena on July 14 with National University (NU) as host.

SM Prime Holdings president and NU chairman Hans Sy said he estimates about 50 percent of the UAAP and NCAA games will be played at the MOA Arena. He noted that from June 1 until the end of the year, only 13 days are left unbooked in the MOA Arena’s calendar. August, for instance, has been reserved for Cirque du Soleil.

“We’re ready for basketball,” said Sy who masterminded the two-year construction of the five-level building. “It takes only three hours to lay out the hardcourt. We’ve incorporated certain things I observed in the Orlando stadium during the last NBA All-Star Game and I think our arena is truly state-of-the-art. Lady Gaga’s director told me that of all the Asian stadiums they’ve performed in, we’re second-best behind only Japan which has a capacity of 30,000.”

The Daktronics 46-ton octagon scoreboard was installed three weeks ago and during the two recent Lady Gaga concerts, was clamped close to the ceiling. It will be lowered for eye-level view during basketball games. American technicians from Daktronics of South Dakota arrived to supervise the hoisting of the scoreboard, employing a 120-ton crane and 24 men.

* * *

“Daktronics powers about 90 percent of NBA arenas,” said Wopsy Zamora, owner of Amigo Entertainment Technologies which is the MOA Arena’s light and sound contractor. “Our center-hung scoreboard was made in the US particularly for the MOA Arena. It has four giant LED high-definition monitors hooked up to the TV coveror and in between the monitors on the sides are four more screens to make an uneven octagon similar to the Memphis Grizzlies scoreboard. Additionally, each goal will be equipped with two transparent, double-faced shot clocks – one six feet above the goal and another below it on a 90 degree angle or perpendicular to provide a view from an angle. Our unified show control system is linked to LED video displays with 18 meters of advertising space on the scorers table adjacent to the players bench and 36 meters across the floor on the press table. You’ll feel like you’re in an NBA stadium.”

The Denver architectural firm Sink Combs Dethlefs patterned the MOA Arena after the Atlanta Hawks’ home Philips Arena. Seating for basketball will accommodate 14,549 with a capacity of 4,075 for general admission and 4,459 for lower box. Every general admission ticket is guaranteed a seat. The building was configured to give every seat a clear view with “nosebleeding” a thing of the past.

* * *

Sy supervised the MOA Arena’s construction from start to finish. “Late last year, nobody believed we could open on May 21 for Lady Gaga,” he said. “That’s because we had no roof. But not too many knew that we were building from the inside so work was progressing. I don’t believe in doing three shifts to work 24 hours. Our work hours were from 7 a.m. to 10 p.m. Before we opened with Lady Gaga, the last thing we did was bolt the seats down. I went around to inspect all the seats to make sure every seat was bolted. Then, I called everyone together, the whole working team. I rode them hard from the beginning and they delivered. I wanted to thank them for a job well done.”

A unique feature of the MOA Arena is its 41 VIP boxes, 31 of which are sold and 10 are for use as event lounges. The 31 boxes are leased at P9 to P12 Million a year, depending on the size (seating capacity ranges from 17 to 27). Each box has a mini-bar, sofas, sitting room, rest room and a gallery viewing section.

No doubt, Sy’s “Hans-on” approach is what beat the odds in finishing the MOA Arena in record time.

|2012-05-25 10:23:01|The Philippine Star: SPORTING CHANCE By Joaquin Henson 1834|MOA Arena standing tall after Lady Gaga exit|

(May 26, 2012 ) It was quite unfortunate that the first event hosted by the Mall of Asia-Arena (MOA Arena) in Pasay City generated a degree of furor to the point that the new concert and event facility did not get the attention it deserved.

But Lady Gaga has left the country, and the MOA Arena still stands tall and ready to host bigger events.

“We started construction in 2010 and we are happy that we are opening as originally targeted”, said Edgar Tejerero, senior vice president of West Avenue Corp., the manager of the MOA Arena.

The world-class facility has 41 exclusive and furnished corporate suites, wherein 10 can be leased on a per-event basis and the rest up for rent for a period of one to five years. The suites have their own mini bar, sofas, restroom, and private room and cinema sites, and the corporate suites have state-of-the-art amenities.

The MOA Arena also features designated smoking lounges on all floors, CCTV security system, mobile package counter, PWD (person with disability) access, press room, pick-up center, paging system and an accessible parking space.

“The Sy family has been involved in this project, especially Sir Hans Sy, who was very much into the details of the construction”, Tejerero said referring to the first executive vice-president of SM Investment Corp.

The MOA Arena’s eye-shaped peripheral design seeks to impart the message to its audience that every event to be conducted in its grounds will surely be a “feast for the eye”.

It has a seating capacity of 15,000 and a full house capacity of 20,000.

The seating ratio of the arena was strategically developed, wherein 60 percent of the total seating will be at the lower box, unlike others where it is the reverse.

Besides concerts, MOA Arena can also host sports events basketball, tennis, volleyball, wrestling and boxing, and other events like ice shows, circus, musicals and even corporate shows.

And since it is expected to receive droves of people, the MOA Arena hosts a wide assortment of food selections served at an area called “Hawkers Alley.” Among the establishments there are Starbucks, Chick-A-Go, Krispy Kreme, Bronco Billy by Chef Florabel Co., Pitstop by yellow cab, Spudnik by NYFD, Jamrock Patty Café by De Original, Jamaican Pattie Shop, and Juice Bar by Chef Tony’s.

Since it is newest venue for big events, only 13 of the 213 operational days of the MOA Arena for 2012 have not yet been booked.

So even with the brouhaha surrounding Lady Gaga’s recent fling in Manila, the MOA Arena is still assured of getting the attention it deserves.

|2012-05-28 10:55:09|The Manila Times By Mary Ann Tuplano 1835|SM malls top taxpayers in key cities|

Clockwise (from top left): Mandaluyong City Mayor Benjamin Abalos awards SM Megamall’s Top Taxpayer trophy to SM regional operations manager Christian Mathay; (top right) Antipolo City Mayor Nilo Leyble awards the prestigious Top Taxpayer of the Year Award to SM City Masinag through SM Supermalls vice president Liza Silerio; (right) Valenzuela City Mayor Sherwin Gatchalian with SM Supermalls vice president for human resources Julie Miteria, regional operations manager for North Luzon Jojo Navera, SM Center Valenzuela’s mall manager Hazel Reyes and SM Investment Corp.’s SAVP for taxes division Ma. Cristina Agbunag; (left) Mayor John Bongat awards SM City Naga as Top Taxpayer for the second time. SM was also cited as Valenzuela City’s Jobs Fair Employer of the Year and ‘On-the-Spot’ Hirer of the Year.

SM Prime Holdings was cited as a top taxpayer in key cities like Mandaluyong, Naga, Valenzuela, and Antipolo. The awards are given in recognition to the SM Mall group as being a partner in the city’s progress and development. Through its taxes, SM is able to help the whole City in order to create more jobs, businesses and other opportunities that uplift the city’s economic growth.

The City Government of Mandaluyong honored SM Megamall with the Top Taxpayer Award for carrying out its various developmental agenda, advocacies and pro-people initiatives towards sustainable progress recently at the Wack-Wack Golf & Country Club.

The SM Group of Companies also topped Naga’ s list of corporate national taxpayers for the second straight year. Another recognition was also given to SM Prime Holdings in the Real Property Tax category for corporations.

SM Supercenter Valenzuela was honored with the Valenzuela City Top Taxpayer Award for Medium Enterprise for 2011 by the Mayor’s Office during the celebration of the 14th charter day anniversary at the Museo Valenzuela. SM City Valenzuela has been cited as the Top Taxpayer for the fifth year in a row.

‘SM City Valenzuela has been very generous in terms of giving their time and effort to help us with our employment project,’ Mayor Sherwin Gatchalian states. He also adds, ‘They’ve been constantly paying the right taxes, and that means a lot to the city.’

Antipolo City commemorates their 4th year Golden Tipolo Awards on April 11, 2012, at the Sumulong Park. Topping this award was SM City Masinag, on the other hand, who was awarded as the Top Business Taxpayer for 2011 during the 4th year of the Golden Tipolo Awards. Cristina Agbunang SAVP for SM Investments Corp, Ms. Johanna Melissa Rupisan ROM for Central 3 Region and Engr. Rejin Cruz Mall Manager of SM City Masinag.

|2012-05-28 14:59:59|The Philippine Star 1836|iButterfly in SM malls|MANILA, Philippines – SM Supermalls launched the iButterfly, the augmented reality application in selected SM malls. At the launch at SM City North EDSA, The Block are celebrity hosts Raymond Gutierrez and fashion stylist Liz Uy (center) with, from left, Carlos Concepcion, DJ Callum David, fashion blogger Laureen Uy, General Luna rock band members Caren Mangaran, Alex Montemayor, Audry Dionisio, and Bea Lao.

|2012-05-18 00:00:00|The Philippine Star 1837|A close look at the MoA Arena|

The controversy that accompanied Lady Gaga’s recent Manila concert almost eclipsed the excitement of watching the two-night shows in a new venue, the SM Mall of Asia Arena in Pasay City.

It did not help that people thought the 20,000 capacity Arena—which reportedly cost P3.5 billion to build—would not be ready for the concert, since construction was still going on a few weeks before Lady Gaga arrived.

In fact, a team from the American singer-songwriter’s management flew in advance just to personally conduct an ocular inspection of the venue.

Fortunately everything went fine on opening night, with an almost-capacity crowd beholding the Arena’s spanking new features.

Here’s what it looks like:

From the outside, the Arena’s design resembles the outline of a gigantic eye—a clever symbolism for the optical thrill that the entertainment and sports venue offers.

Escalators

At the lobby are escalators that take spectators to their designated sections.

The most striking thing about the walk towards the doors is the spaciousness of the area, which reminds you of the passenger lounge at the Ninoy Aquino International Airport Terminal 3.

At the sides of the walk are concessionaires that sell American, Mexican, Italian and other fastfood fare. What’s good about them is that there are enough cocktail tables where you can wolf down a snack or meal before showtime.

Restrooms are conveniently located near the doors of each section.

What you’ll truly appreciate, once inside the arena itself, is the comfort—the seats have ample legroom even for tall folks.

A luxurious feature are the special “suites” just above the lower box section. These are said to be reserved for sponsors and corporate entities that have plunked in money for the privilege of watching the action from a glassed, hotel-like room with couches and private restroom.

The only bummers are the following:

Overzealous ushers who motion you to not stand up even when everybody else is jumping up and down with excitement over the music.

The unavailability of other kinds of drinking water for sale aside from the distilled brand—which is shunned by those who are aware of its lack of health benefits.

And the absurdity of having beer kiosks whose attendants tell you that you can’t buy a drink until after the concert is over.

Nonetheless, the coming shows lined up at the Arena are: Taylor Dayne and Edwin McCane, June 1; NKOTBSB (New Kids On The Block and Backstreet Boys), June 3; “Icons” (featuring 24 all-star Pinoy music artists), June 16; The Fray, June 21; and Cirque Du Soleil (starting August 9).

|2012-05-29 10:59:07|Philippine Daily Inquirer By Pocholo Concepcion 1838|SM Prime to issue P7.5B worth of notes|

MANILA, Philipines — Leading mall developer SM Prime Holdings, Inc. on Tuesday said it has issued P7.5 billion worth of notes.

The company said in a disclosure to the Philippine Stock Exchange on Tuesday that thee notes facility consists of five- and ten-year floating rate notes and five- and ten-year fixed rate notes.

Proceeds from the notes issue will be used for ‘the refinancing of existing obligations, to partially fund capital expenditures and/or other general corporate requirements,’ SM Prime said.

‘The issue size of the notes increased to P7.5 billion from the original P4 billion ‘due to the strong demand from institutions

consisting of banks, insurance and trust companies,’ it added.

The issue will be solely arranged by First Metro Investment Corp.

SM Prime currently has 42 SM Supermalls nationwide after it opened SM City Olongapo early this year.

For the rest of 2012, SM Prime is scheduled to open SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, SM City Consolacion in Cebu, SM City San Fernando in Pampanga, and SM Chongqing in China.

By year-end, SM Prime will have 46 malls in the Philippines and five in China.

|2012-05-30 10:16:40|ABS-CBNnews.com 1839|SM Prime ups note facility to P7.5B|

Shopping mall giant SM Prime Holdings Inc. has signed the P7.5-billion notes facility agreement for the refinancing of its existing obligations and to partially fund capital expenditures and other general corporate requirements.

In a disclosure to the Philippine Stock Exchange (PSE), SM Prime increased its note facility because of the strong demand from various institutions consisting of banks, insurance and trust companies.

Solely arranged by First Metro Investment Corp., the issue size of the notes increased to P7.5 billion from the original P4 billion because of the strong demand from institutional buyers.

SM Prime started the year strong by continuing to exceed its growth targets during the first three months of 2012.

According to a statement, SM Prime’s consolidated revenues grew by 16 percent to P7.03 billion from the P6.07 billion during the same period last year.

The company’s consolidated net income, on the other hand, increased by 15 percent to P2.43 billion from the P2.12 billion recorded in 2011.

These results include the operations of the four SM malls in China, which are located in the cities of Xiamen and Jinjiang in Southern China, and Chengdu in Central China, and Suzhou in Eastern China.

Earlier this year, SM Prime opened SM City Olongapo and is scheduled to open SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, SM City Consolacion in Cebu, SM City San Fernando in Pampanga and SM Chongjing in China.

SM Prime recently advanced by 4.1 percent to P16.20 at the PSE, the largest advance since March 16.

SM Prime is the Philippines’ largest mall operator.

|2012-05-30 10:18:49|The Manila Times 1840|SM inks P7.5-B notes facility agreement for expansion plans|

SM Prime Holdings Inc. SMPHI) has signed a P7.5-billion notes facility agreement to be used to finance the company’s aggressive expansion plans.

The notes facility, consisting of five- and 10-year floating rate notes and five- and 10-year fixed rate notes, will be used by SMPHI for the refinancing of existing obligations, to partially fund capital expenditures and/or other general corporate requirements.

Solely arranged by First Metro Investment Corp., the issue size of the notes increased to P7.5 billion from the original P4 billion due to the strong demand from institutions consisting of banks, insurance and trust companies.

SMPHI currently has 42 SM Supermalls strategically located nationwide with a total gross floor area (GFA) of 5.1 million square meters (sqm).

Earlier this year, SM Prime opened SM City Olongapo. For the rest of 2012, SM Prime is scheduled to open SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, SM City Consolacion in Cebu, SM City San Fernando in Pampanga, and SM Chongqing in China.

By year-end, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined GFA of 6.3 million sqm.

Earlier, SMPHI CFO Jeffrey Lim said they are to draw the P7 billion, initially P5 billion with a P2 billion “upsize” option, in five-year corporate notes second week of June which is to be solely be raised by First Metro Investment Corp.

The proceeds will be used to finance the company’s aggressive expansion plans.

He also noted that they will see if they need more funding by the second half of this year, of which the option will be more of retail bonds than corporate notes with 5-7-10 years because the liquidity is there and it will give them a shorter time for processing. Danessa O. RIvera

|2012-05-30 10:19:14|The Daily Tribune 1841|SM Prime raises P7.5 B from notes|

MANILA, Philippines – SM Prime Holdings Inc., the country’s largest mall operator, has raised P7.5 billion from the issuance of corporate notes.

The fresh capital will be used to pay existing debts and partially finance capital spending this year, the company said in a disclosure to the Philippine Stock Exchange yesterday.

SM Prime said the issue size of the notes increased to P7.5 billion from the original P4 billion due to the strong demand from institutions consisting of banks, insurance and trust companies.

The notes facility, which was arranged by First Metro Investment Corp., consists of five- and 10-year floating rate notes and five- and 10-year fixed rate notes.

SM Prime said funds will be used to refinancing of existing obligations and partially fund capital expenditures and other general corporate requirements.

The mall developer has budgeted P21 billion for capital expenditures this year to continue the expansion of its operations locally and in China.

To date, the mall giant has 42 SM Supermalls strategically located nationwide with a total gross floor area (GFA) of 5.1 million square meters (sqm).

Early this year, SM Prime opened SM City Olongapo. For the rest of 2012, SM Prime is scheduled to open SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, SM City Consolacion in Cebu, SM City San Fernando in Pampanga, and SM Chongqing in China.

By end-2012, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined GFA of 6.3 million sqm.

For 2013, SM Prime will open two shopping centers in Metro Manila-SM Taguig and SM in BF Sucat, Parañaque. It will also be expanding existing malls in Clark and Bacolod.

SM Prime also has four malls in China (Xiamen, Jinjiang, Suzhou and Chengdu).

The firm’s earnings jumped 15 percent in the first quarter to P2.43 billion on the back of higher revenues arising from the addition of new malls and the strong growth of its China operations.

|2012-05-30 10:19:30|The Philippine Star By Neil Jerome C. Morales 1842|SM Prime Issuing P7.5-B Notes|

MANILA, Philippines — SM Prime Holdings, Inc. (SM Prime) has signed a P7.5 billion notes facility agreement for the refinancing of existing obligations, to partially fund capital expenditures and/or other general corporate requirements.

In a disclosure to the Philippine Stock Exchange, SM Prime said the notes facility consists of five- and ten-year floating rate notes and five- and ten-year fixed rate notes.

Solely arranged by First Metro Investment Corporation, the issue size of the notes increased to P7.5 billion from the original P4.0 billion due to the strong demand from institutions consisting of banks, insurance and trust companies.

SM Prime currently has 42 SM Supermalls strategically located nationwide with a total gross floor area (GFA) of 5.1 million square meters (sqm).Earlier this year, SM Prime opened SM City Olongapo.

For the rest of 2012, SM Prime is scheduled to open SM City Lanang

in Davao City, SM City General Santos in Southern Mindanao, SM City Consolacion in Cebu, SM City San Fernando in Pampanga, and SM Chongqing in China.

By year-end, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined GFA of 6.3 million sqm.

SM Prime exceeded its growth targets during the first quarter of 2012 with profits rising 15 percent to P2.43 billion from P2.12 billion in the same period last year.

SM Prime executive vice president Jeffrey Lim said consolidated revenues grew 16 percent to P7.03 billion from P6.07 billion during the same period last year.

EBITDA rose 13 percent to P4.76 billion, resulting in an EBITDA margin of 68 percent.

These results include the operations of the four SM malls in China, which are located in the cities of Xiamen and Jinjiang in Southern China, Chengdu in Central China, and Suzhou in Eastern China.

Lim said SM Prime’s robust results were driven by a mix of factors namely additional capacity from new malls opened in the Philippines during the past two years, a healthy same-store rental growth of 8 percent and the rising momentum in its China operations.

The four SM malls in China sustained their notable performance, with combined gross revenues rising sharply by 34 percent to Php0.62 billion, and net income increasing by 44 percent to P0.14 billion.

|2012-05-30 10:20:20|Manila Bulletin By James A. Loyola 1843|SM Prime finalizes P7.5-B notes offer|

SM PRIME Holdings Inc., the country’s biggest shopping mall developer and operator, said it raised P7.5 billion from the sale of long-term notes.

In a filing to the Philippine Stock Exchange on Tuesday, SM Prime said its recently signed notes facility consists of five- and 10-year floating rate and five- and 10-year fixed rate tenors.

Solely arranged by First Metro Investment Corp., the issue size increased from the original P4 billion due to the strong demand from institutions consisting of banks, insurance and trust companies, SM Prime said.

The builder said the fresh funds will be used for the refinancing of existing obligations, to partially fund capital expenditures and other general corporate requirements.

SM Prime currently has 42 SM Supermalls strategically located nationwide with a total gross floor area (GFA) of 5.1 million square meters (sqm). Earlier this year, SM Prime opened SM City Olongapo.

The company is also pursuing at least five new properties in China, mainly in Fujian province, where it already operates.

By year-end, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined GFA of 6.3 million sqm.

|2012-05-30 10:20:52|Business Mirror By Miguel R. Camus / Reporter 1844|SM Prime raises P7.5 billion from notes issue for old debt|

MALL DEVELOPER SM Prime Holdings, Inc. has raised P7.5 billion in fresh capital from a notes issuance, the Sy-led firm said in a statement yesterday.

The notes facility, consisting of five- and 10-year floating rate notes and five- and 10-year fixed-rate notes, will be used by SM Prime to refinance debt, partially fund its P21-billion capital budget for this year, and for other corporate purposes, the company said.

Originally, SM Prime had set an issue size of P4 billion, but this was eventually upsized to P7.5 billion due to robust demand from institutional investors such as banks, insurance firms, and trust companies.

This is the second time SM Prime announced a fund-raising effort this year, amid a generally low-interest environment.

Last January, the company successfully raised P5 billion from multi-year, fixed-rate corporate notes to bankroll its capital expenditure for the year.

Previously, SM Prime said it was allocating a P21-billion capex for 2012. Of this, P14 billion was meant for the Philippines and P7 billion for China. The amount will be sourced from a mix of debt and internally generated funds.

This year, SM Prime aims to have a mall portfolio of 46 Philippine malls and five China malls by the year-end, with an estimated combined gross floor area of 6.3 million square meters (sq. m.), earlier reports show.

In Metro Manila, SM BF Sucat in Parañaque City and SM Aura in Taguig City are expected to open next year, while in 2014, SM Prime will open the 540,000-sq.-m. SM Tianjin, the firm’s largest mall yet, as well as SM Zibo in China.

Moreover, SM Prime has targeted SM City Bacolod, SM City Clark, SM City Baguio, and SM Megamall for future expansion plans in 2013 and 2014.

The company also is eyeing as much as seven new properties in China for mall expansions as the firm exploits higher consumer spending there, earlier reports said.

SM Prime realized a 15% growth in its first-quarter net income this year to P2.43 billion versus P2.12 billion in the same period last year due to new Philippine malls, higher same-store rental growth, and bigger revenues from its China malls.

The company’s consolidated revenues grew by 16% to P7.03 billion from P6.07 billion last year, while revenues from rent alone, which accounted for 86% of the firm’s revenues, rose by 15% to P6.03 billion in the January to March period.

SM Prime shares grew by 3.43% or 44 centavos to P13.28 yesterday from P12.84 at its previous close. — Franz Jonathan G. de la Fuente

|2012-05-30 10:31:55|BusinessWorld 1845|DFA offices in shopping centers to follow mall hours|

The Department of Foreign Affairs’ (DFA) consular offices in shopping centers will now follow the malls’ schedules.

In a message read by Undersecretary Rafael Seguis at the inauguration of the latest DFA facility in Pampanga, DFA Secretary Albert del Rosario said the longer hours will allow applicants to have their passports processed or released even after office hours – from Mondays to Sundays.

“To further improve our services, our regional offices will be open during mall hours, Mondays to Saturdays. With this, applicants need not take the entire day off like they do now just to apply for their passports. Applicants now have the option to do this after office or school hours or even on Saturdays,” Del Rosario said.

The new 995-square-meter DFA facility is located at the Robinsons Starmills in San Fernando City in Pampanga.

It is the second of several passport offices that the DFA will open in shopping malls nationwide under Public-Private Partnership arrangements.

The first, DFA Cebu, was opened in February at the Pacific Mall in Mandaue.

“What we have here in Robinsons Starmills is a first-class facility that offers first-class services to our kababayans, especially overseas workers, not only from Pampanga and the other provinces of the region but Metro Manila and other parts of Northern Luzon as well,” Del Rosario said in his message.

“More than anything else, it is the compulsion to serve the public better that made us make this happen… What we envision with the relocation of our consular offices to shopping malls is a DFA that would be able to provide fast and efficient services to our people in settings that offer them both comfort and convenience,” he added.

Mall hours

Del Rosario said passport offices that would be hosted in malls belonging to Pacific Mall, Robinsons Land Corporation, Ayala Land Corporation, and SM Prime Holdings will be open from 10 a.m. to 8 p.m. from Mondays to Saturdays.

They will not only process new applications and renewals but also release passports.

He also said DFA offices in the said shopping centers will also be open half-day on Sundays but only to allow applicants to personally claim their passports.

“But even with these changes for the better, passport fees will remain the same: P950 for regular processing and P1,200 for expedited processing. These are the amounts all applicants are required to pay, nothing more, for the kind of service we are now extending,” he said.

The inauguration of DFA San Fernando comes six months after the DFA and Robinsons Land formally entered into arrangements for the transfer and hosting of the main consular office for Region III that was previously located at the City Transport Terminal.

Arrangements with Robinsons Land will allow the DFA to save more than P233 million in operational and other costs over ten years.

The DFA also entered into Public-Private Partnership arrangements with Pacific Mall Corporation, Ayala Land Incorporated, and SM Prime Holdings for the hosting of other consular offices in Angeles, Bacolod, Baguio; Batangas, Davao, Dumaguete, General Santos; Iloilo; Laoag; Lipa; Mandaluyong; Manila; Quezon City; and Tacloban.

“As a result of the Public-Private Partnership arrangements we initiated, the DFA will be able to save the government a total of P1.04 billion in operating costs in the next 10 years. The savings cover an initial 16 consular offices across the country that would occupy more than 7,000 square meters of prime space in DFA partner malls,” del Rosario said.

He added the DFA expects to generate more savings once it concludes negotiations with its private sector partners for the hosting of its remaining consular office

Del Rosario said the DFA wants all its existing consular offices in the provinces to be serving the public in shopping malls in major cities nationwide by 2014. – VVP, GMA News

|2012-05-31 10:28:48|GMA News 1846|SM Prime to build 200 homes in Cagayan de Oro GK Village|

Vice President Jejomar Binay, SM Prime Holdings Inc. president Hans Sy and GK CEO Jose Luis Oquiñena are joined by BDO SVP Jerome Guevarra, SM Supermalls president Annie Garcia, BDO Foundation president Maureen Abelardo and SM Supermalls regional operations manager Renee Bacani during the MOA signing for the construction of GK homes.

MANILA, Philippines – SM Prime Holdings Inc. recently signed a memorandum of agreement with the local government of Cagayan De Oro City, the Housing and Urban Development Coordinating Council (HUDCC) and Gawad Kalinga to construct 200 homes in Barangay Canitoan, Cagayan de Oro City.

Vice President and HUDCC chairman Jejomar Binay witnessed the MOA signing that formalizes the coordination and work between SM Prime and government units and agencies, in the ongoing efforts for the rehabilitation of the victims of typhoon “Sendong” through the development of the 2.7346-hectare Canitoan Relocation Site. Other agencies involved are the National Housing Authority (NHA), the Department of Social Welfare and Development (DSWD), the Department of Public Works and Highways (DPWH), and the Department of Environment and Natural Resources (DENR).

As HUDCC chairman, Binay tasked the NHA to implement the development of the Canitoan relocation site that will accommodate families displaced by Sendong, and those residing along riverbanks and danger areas of the city.

The Canitoan relocation site will be composed of 200 homes donated by SM Prime, as well as 100 homes donated by BDO Foundation – a total of 300 homes to be constructed by Gawad Kalinga, who will also organize a community association which will serve to empower the families and the whole community towards self-reliance and sustainability.

The local government of Cagayan De Oro City meanwhile will also provide additional housing units as well as community facilities such as multi-purpose covered court, material recovery facility, transport terminal, police sub-station, school, wet/dry market, day care and health centers. The DSWD will be leading the social preparations and community organizing; the DPWH will be assisting in the construction of roadworks, drainage works and rainwater impounding area; and the DENR will take over the issuance of permits for environmental clearance.

SM Prime Holdings president Hans Sy, NHA general manager Chito Cruz, HUDCC secretary general Cecilia Alba, Social Welfare & Development Secretary Corazon Soliman, Public Works & Highways Secretary Rogelio Singson, chairman of Housing Committee for Sendong Victims Msgr. Jemar Vera Cruz, V.G. and Gawad Kalinga executive director Jose Luis Oquiñena formalized the partnerships by signing the MOA at the Coconut Palace in Pasay City. SM Supermalls president Annie Garcia, regional operations managers Renee Bacani and Debby Go, and Gawad Kalinga Partnerships Manager Tito Cajulis, joined them in the event.

The construction of homes for Sendong victims in Cagayan de Oro is one of SM Prime’s many projects to enhance the lives in the communities it serves.

|2012-05-31 10:29:30|The Philippine Star 1847|Henry Sy Sr. fetes ShoeMart Foundation scholar-graduates|

Retail and real-estate tycoon Henry Sy Sr., owner of the SM Group of Cos. on Wednesday feted 164 scholar-graduates of SM Foundation, its corporate social responsibility arm, together with their families at the SMX Convention Center in Pasay City on Wednesday.

The event was held to honor the SM Foundation’s 16th batch of scholar-graduates this year, 75 of whom graduated with honors, which include three magna cum laude, 44 cum laude, and 15 with academic distinction.

The top three graduates include Bryan B. Abanilla, who graduated from Meycauayan College, Marc Rodolfo B. Arca from Pamantasan ng Lungsod ng Maynila, and Jannen B. Barona from the University of the East, Caloocan campus, are summa cum laude graduates and are among the 39 honor graduates who finished with a degree in Accountancy.

The other graduates completed courses in education, engineering, information technology and computer-related degrees from different parts of the country.

Along with family members, the elder Sy joined the graduates and their families in expressing their gratitude to their benefactors, including the officers of SM Foundation and its project partners.

Some of these scholars were interviewed by the Human Resource Offices of the SM Group of Cos. for job placements.

Carmen Linda M. Atayde, assistant vice president and executive director for Education of SM’s Foundation, said that sponsoring the college education of the poor but deserving students is a way of showing SM and its partner-companies’ good corporate citizenship.

SM Foundation scholars, she said, belong to families whose income is below the poverty threshold. All of their families earn less than P50,000 a year.

“We all know that education is a potent tool in fighting poverty. There are so many poor but deserving students out there and they can only go to college given this kind of opportunity,” she said.

Aside from education, SM Foundation also provide health and livelihood support to financially-challenged families, including farmers who get to be trained on how to do better business in agriculture.

Currently, there are 1,200 college scholars enrolled in 82 partner-schools of the foundation; 103 of them have been adopted by private companies and individuals, while the rests are fully funded by the foundation.

The foundation also supports students enrolled in vocational schools like the Punlaan School and the Don Bosco Technical Institute.

The SM scholarship program of SM Foundation provides free tuition and monthly allowance to scholars who are rigidly screened by a committee.

The scholars are also given an opportunity to earn during summer and Christmas breaks with part-time jobs in any of the SM Group of Cos.

Since 1993 the foundation was able to see through the college graduation of a total of 1,464 scholar-graduates so far.

SM Foundation scholars, according to Atayde, is increasing every year and with its strong partnership with other companies and learning institutions, the foundation hopes to increase the number of scholars for 2013.

|2012-05-31 10:30:48|Business Mirror By Jonathan Mayuga 1848|Pleasant surprise in ‘Project Shoe box’|

LUCENA CITY – Soldiers and a sorority launched “Project Shoe box” in February hoping to collect 1,000 shoe boxes and fill these with school supplies for children in some of the poorest parts of Southern Luzon.

To their surprise, the number of shoe boxes and school supplies exceeded their expectation and an Army official attributed the interest that the project drew from donors to a previous Inquirer story about it.

Soon after the Philippine Daily Inquirer first came out with the story on March 8, the Army’s Camp Guillermo Nakar here started to be flooded with shoe boxes and school supplies.

Lieutenant Colonel Thomas Sedano Jr., head of 4th Light Armor Battalion (LAB) based in Camp Nakar, said the latest inventory showed there were now enough school supplies for 15,000 elementary pupils.

“The Inquirer story gave more meaning to the project. We were already happy if we could meet our target of 1,000 boxes but your story changed it all,” said Sedano.

He said after the Inquirer story came out, donors like the National Bookstore Foundation and SM Foundation responded quickly, donating at least 13,000 packs of school supplies. Donations also came from civic and religious groups.

The cargo firm 2GO Express offered to ship the donations for free to beneficiaries.

Sedano said the 4th LAB collected at least 2,000 shoe boxes while 2GO Express, which also donated boxes weighing a kilogram each for the supplies, helped fill the void.

Most of the donations didn’t have to be transferred to the shoe boxes as they were packed ready for distribution. Some donors wrote addresses in the packs to open a channel of communication between donors and beneficiaries.

Jennie Litan, of the sorority Sigma Alpha-University of the Philippines-Los Baños, said her group’s partnership with the 4th LAB started when her group found it had enough school supplies to donate to poor children but didn’t have the means to distribute these.

Sedano, whose sister is a member of the sorority, said he picked up the concept for the project in the United States in 2007 when he attended a religious service there.

Shoe boxes were collected during the religious service and filled with school supplies and medicines for shipping to children in Africa, he said.

Shoe boxes are ideal storage items for school supplies because these could withstand transport through some of the country’s worst roads.

In the past several days, soldiers and members of the sorority were busy stuffing boxes with notebooks, pads, pencils, crayons, erasers, books and personal care items like face towels, combs and slippers.

The Army wants to start distributing these on June 11 to Agta children in Sierra Madre. At least 52 other sites in Mindoro Oriental, Mindoro Occidental, Masbate, Quezon, Laguna and Camarines Norte were picked as beneficiaries.

|2012-06-01 10:54:48|Inquirer Southern Luzon By Delfin T. Mallari Jr. 1849|SM Prime to Construct 200 Homes in Cagayan de Oro Village|

Vice President Jejomar Binay, SM Prime Holdings, Inc. President Hans Sy, and GK CEO Jose Luis Oquiñena during the MOA signing. They are shown with BDO SVP Jerome Guevarra, SM Supermalls President Annie Garcia, BDO Foundation President Maureen Abelardo, and SM Supermalls Regional Operations Manager Renee Bacani

SM Prime Holdings, Inc. recently signed a Memorandum of Agreement with the local government of Cagayan De Oro City, the Housing and Urban Development Coordinating Council (HUDCC), and Gawad Kalinga to construct 200 homes in Barangay Canitoan, Cagayan de Oro City.

Vice President and HUDCC chairperson Jejomar Binay witnessed the MOA signing that formalizes the coordination and work between SM Prime and government units and agencies, in the ongoing efforts for the rehabilitation of the victims of typhoon Sendong through the development of the 2.7346-hectare Canitoan Relocation Site. Other agencies involved are the National Housing Authority (NHA), the Department of Social Welfare and Development (DSWD), the Department of Public Works and Highways (DPWH), and the Department of Environment and Natural Resources (DENR).

As HUDCC Chairperson, Vice President Jejomar Binay tasked the NHA to implement the development of the Canitoan Relocation site that will accommodate families displaced by the typhoon Sendong, and those residing along riverbanks and danger areas of the city.

The Canitoan Relocation site will be composed of 200 homes donated by SM Prime, as well as 100 homes donated by BDO Foundation – a total of 300 homes to be constructed by Gawad Kalinga who will also organize a community association, which will serve to empower the families and the whole community towards self-reliance and sustainability.

The local government of Cagayan De Oro City meanwhile will also provide additional housing units as well as community facilities such as multipurpose covered court, material recovery facility, transport terminal, police sub-station, school, wet/dry market, day care and health centers. The DSWD will be leading the social preparations and community organizing; the DPWH will be assisting in the construction of roadworks, drainage works and rainwater impounding area; and the DENR will take over the issuance of permits for environmental clearance.

SM Prime Holdings President Hans T. Sy, NHA General Manager Chito Cruz, HUDCC Secretary General Cecilia Alba, Social Welfare & Development Secretary Corazon Soliman, Public Works & Highways Secretary Rogelio Singson, Chairman ·of Housing Committee for Sendong Victims Msgr. Jemar Vera Cruz, v.G. And Gawad Kalinga Executive Director Jose Luis Oquiñena formalized the partnerships by signing the MOA at the Coconut Palace in Pasay City. SM Supermalls President Annie Garcia, Regional Operations Managers Renee Bacani and Debby Go, and Gawad Kalinga Partnerships Manager Tito Cajulis joined them in the event.

The construction of homes for Sendong typhoon victims in Cagayan de Oro is one of SM Prime’s many projects to enhance the lives in the communities it serves.

|2012-06-01 10:59:43|Philippine Daily Inquirer 1850|SM Prime opens new mall in Cebu|

MANILA, Philippines – Mall developer and operator SM Prime Holdings Inc. is opening its 43rd shopping mall in the country, SM City Consolacion in Cebu, on Friday.

The new shopping mall, which has a gross floor area (GFA) of 106,857 square meters, is located along the Cebu North Road, Barangay Lamac, Consolacion, Cebu. This is the second SM mall in Cebu.

‘The region of Cebu remains to be a key expansion area for SM malls. This reflects our continued confidence in the prospects of Cebu, given its dynamic population and flourishing business landscape, especially its vibrant export sector, which contributes significantly to the country’s economic growth,’ said SM Prime President Hans T. Sy, in a statement.

SM City Consolacion will have a SM Department Store, SM Supermarket, as well as fast food chains Jollibee, Chowking, Greenwich, Red Ribbon, Pizza Hut, KFC, and Mang Inasal.

Restaurants serving Cebuano cuisine, such as Chika-an Sa Cebu and Jonie’s Chicken, can also be found in the mall.

After SM City Consolacion, SM Prime is also constructing a P4.5 billion shopping mall in the reclaimed South Road Properties (SRP). The mall, which is targeted to open in the third quarter of 2014, is part of the 30-hectare mixed use development project of SM Prime in Cebu called SM Seaside City.

|2012-06-01 11:01:33|ABS-CBNnews.com 1851|SMPHI opens new mall in Cebu|

SM Prime Holdings Inc. (SMPHI) is in aggressive expansion in Cebu as it opens today its new mall and the second in the area and is set for another construction for the province.

SM City Consolacion, also its 43rd shopping mall in the country, is located along the Cebu North Road, Barangay Lamac, Consolacion and has a gross floor area (GFA) of 106,857 square meters (sqm).

SM City Cebu was its first in the area, which opened in November 1993 and is an 11-kilometer distance away.

SMPHI president Hans Sy said the region of Cebu remains to be a key expansion area for SM malls. “We warmly welcome all our valued customers to our newest and second mall in Cebu, SM City Consolacion. This reflects our continued confidence in the prospects of Cebu, given its dynamic population and flourishing business landscape, especially its vibrant export sector, which contributes significantly to the country’s economic growth,” he said.

Meanwhile, with the company’s expansion plans for Cebu, SMPHI is also set to construct the P4.5 billion shopping mall in the reclaimed South Road Properties (SRP), which is expected to open in the third quarter of 2014 and will boast of a gross floor area of 241,600 square meters, making it Cebu’s biggest mall and fourth among SM malls.

It is part of the 30-hectare mixed-use development project of SM Prime in Cebu called SM Seaside City, a proof of SM’s vision for the growth of Cebu City and the positive impact that its malls have on the lives of Cebuanos.

SM City Consolacion has a leasable area of 57,842 sqm, 89 percent of which has already been awarded to various tenants. Danessa O. Rivera

|2012-06-01 11:02:21|The Daily Tribune 1852|SM Prime to open new mall in Cebu|

SM Prime Holdings Inc. (SM) is set to open today SM City Consolacion, Cebu, its 43rd shopping mall.

“The region of Cebu remains to be a key expansion area for SM malls. This reflects our continued confidence in the prospects of Cebu, given its dynamic population and flourishing business landscape, especially its vibrant export sector, which contributes significantly to the country’s economic growth,” SM Prime President Hans Sy said.

The new SM branch, with a gross floor area (GFA) of 106,857 square meters (sqm), is located along the Cebu North Road, Barangay Lamac, Consolacion, Cebu. It is SM Prime’s second mall in the province, after SM City Cebu, which opened on November 1993.

Consolacion is a first class residential urban municipality in Cebu. It is part of the Cebu Metropolitan Area (Metro Cebu), which is the second international gateway and the second largest urban area in the Philippines.

According to a statement, SM City Consolacion brings the total number of SM Prime malls to 43 all over the country, with a combined GFA of 5.2 million sqm. SM Consolacion is the second SM mall to be opened this year, after SM City Olongapo in Zambales, which was inaugurated on February.

For the rest of 2012, SM Prime is scheduled to open SM City San Fernando in Pampanga, SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, and SM Chongqing in China.

By the end of this year, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined GFA of 6.3 million sqm.

|2012-06-01 11:02:44|The Manila Times 1853|SM Prime opens new Cebu mall|

SM Prime Holdings Inc., the country’s biggest shopping mall developer and operator, is increasing its nationwide mall network to 43 with the opening of SM City Consolacion in Cebu today.

In a statement, SM Prime said SM City Consolacion will increase the builder’s gross floor area by 106,857 square meters (sqm). Leasable area is 57,842 sqm, of which 89 percent has been awarded to various tenants.

The mall is SM Prime’s second shopping center in the province after SM City Cebu, which opened in November 1993.

SM City Consolacion increases the operator’s total GFA to 5.2 million sqm. It is also the second SM mall to be opened this year, after SM City Olongapo in Zambales.

In line with its plans for Cebu is the construction of the P4.5-billion shopping mall in the reclaimed South Road Properties as part of the 30-hectare mixed-use development project of SM Prime called SM Seaside City.

The mall is expected to open in the third quarter of 2014 and will boast of a gross floor area of 241,600 sqm, making it Cebu’s biggest mall and fourth among SM malls.

For the rest of 2012, SM Prime is scheduled to open SM City San Fernando in Pampanga, SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, and SM Chongqing in China.

By the end of this year, SM Prime will have 46 malls in the Philippines and five in China with an estimated combined GFA of 6.3 million sqm.

SM Prime shares declined 2 percent to P12.74 each on Thursday, giving it a market value of P221.3 billion.

|2012-06-01 11:03:10|Business Mirror 1854|SM Prime strengthens hold on Cebu with second mall|

SM PRIME Holdings, Inc. is set to strengthen its foothold in Cebu by opening a mall dubbed SM City Consolacion tomorrow in a bid to take advantage of the province’s economic growth prospects.

The retail center, which is located on the Cebu North Road in Barangay Lamac, Consolacion, Cebu, is the company’s second mall in the province after nearby SM City Cebu, which opened in 1993. It is also SM Prime’s second new mall this year after SM City Olongapo opened last February.

“The region of Cebu remains to be a key expansion area for SM malls.

This reflects our continued confidence in the prospects of Cebu, given its dynamic population and flourishing business landscape, especially its vibrant export sector, which contributes significantly to the country’s economic growth,” Hans T. Sy, SM Prime president said in a disclosure yesterday.

Consolacion, the town where the new mall is located, is a first-class municipality that boasts of industries such as garments, furniture making, manufacturing, shipbuilding and ship repairing.

SM City Consolacion, which has a total leasable area of 57,842 square meters (sq. m.), is already 89% leased out to tenants.

Mall amenities include a tech-oriented Cyberzone, a 668-person food court, four cinemas that will seat 1,488 persons, and over 700 parking slots.

The opening of SM City Consolacion comes amid SM Prime’s continued expansion in Cebu City via the construction of a P4.5-billion shopping mall, which set to be the province’s biggest, in the South Road Properties district.

Upon completion in the third quarter of 2014, the new mall — which will be located within the 30-hectare mixed-use SM Seaside City — will have a gross floor area of 241,600 sq. m.

“This is proof of SM’s vision for the growth of Cebu City and the positive impact that its malls have on the lives of Cebuanos,” SM Prime said.

Previously, SM Prime said it was allocating a P21-billion capital expenditure for 2012, of which P14 billion is intended for the Philippines and P7 billion for China. These will be sourced from a mix of debt and internally-generated funds.

To further finance its capex, SM Prime last Tuesday announced that it had raised P7.5 billion in fresh funds from the issuance of fixed-rate and floating-rate notes that was reportedly snapped up by institutional investors.

This year, SM Prime aims to have a mall portfolio of 46 Philippine malls and five China malls by the year-end, with an estimated combined gross floor area of 6.3 million sq. m.

SM Prime realized a 15% growth in its first quarter net income this year to P2.43 billion versus P2.12 billion in the same period last ye

SM Prime shares lost 2% to close at P12.74 yesterday from P13.00 at its previous close. — Franz Jonathan G. de la Fuente

|2012-06-01 11:03:34|BusinessWorld 1855|SM City Consolacion opens today|

Almost twenty years after it opened its first mall in the Queen City of the South, SM Prime Holdings brings it shopping, leisure, and entertainment excitement closer to northern Cebu now that SM City Consolacion is now open.

Located on a 44,515 square meter site along the National Road in Barangay Pitogo, Lamac, the three-level 106,857 square meter mall will serve shopper’s in Consolacion, as well as nearby the northern cities of Mandaue and Danao, and the towns of Liloan, Compostela, and Carmen. SM City Consolacion, the SM’s 43rd mall is located at North Road, Barangay Consolacion, which is just 12.5 kilo- Lamac, Consolacion Cebu and will be open to the public on June 1, 2012. meters away from Cebu City, is often called the Gateway to the North. It is a robust residential urban municipality with a vigorous economy with the presence of several medium sized manufacturing industries.

SM City Consolacion’s vibrant, well-proportioned exteriors reflect SM’s innovative approach to retail. Its combination of crisp colors and materials; a dynamically patterned and curved facade,and carefully proportioned forms, are all detailed for a modern sophisticated appearance.

The new mall will be a shopping landmark in the area with an iconic glass wall greeting shoppers from the National Highway. A patterned facade and brightly colored canopy will further enhance this first impression, enlivened by ground floor restaurants opening out to an expansive, landscaped parking area.

Clearly marked entrances will invite shoppers inside, where they will encounter dramatic, soaring interior spaces including an curved plaza

and an intersecting mall. The day lighted plaza will feature a large elevator surrounded by a spiral stair, and will be able to host a variety of events like fashion shows, markets, and performances.

Graceful balconies along all internal spaces will provide shoppers ever-changing dynamic views’ as well as access to the mall’s stores and restaurants. These include a two storey SM Department Store; an SM Supermarket; SM mainstays like the SM Appliance Center, Watsons, ACEHardware; a Cyberzone, a Food Court with al fresco dining; as well as 140 local, national, and international brands that offer countless products, food concepts, and services,

The new mall also has state of the art facilities with four digital theaters – the first outside Cebu City – with a total seating capacity for 1,488 persons,

SM City Consolacion is also eco-friendly with a variety of strategies like ample filtered daylight, as well as high-efficiency lighting systems and air conditioning, combining to reduce its overall environmental impact.

With open and covered parking areas that can accommodate over 700 vehicles and 150 motorcycles, SM City Consolacion offers convenience the moment you walk in.

SM City Consolacion’s project team includes DSGN Associates, Design Architect; Jose Siao Ling and Associates, Architect of Record; SM EDD Mall Design, In-house architect; ASEEC, Project Manager; and DDT Konstrukt, General Contractor.

|2012-06-01 11:04:07|Philippine Daily Inquirer 1856|New SM Shopping Mall|

|2012-06-01 11:07:57|Manila Bulletin 1857|SHOOTING STRAIGHT|

Congratulations to SM Prime Holdings on the occasion of the formal opening and blessing of the SM Consolacion, the municipality next to Mandaue City, which has become the bedroom community of Cebu and Mandaue cities. This is the second huge SM shopping complex that opened its doors to shoppers living from Consolacion and the other northern towns of Liloan, Compostela, Danao City and further on. This should cover that area north of Cebu City. Meanwhile construction is fast going on at the South Road Properties (SRP) of the so-called SM Seaside City.

Reading from the report of Edha Dagooc who interviewed SM Prime Holdings president Hans Sy, he announced during the SM Consolacion opening that the budget for the SM Seaside City has been raised from P6 billion to P8.5 billion and Mr. Sy pointed out that they intend to have this shopping complex as big as the Mall of Asia (MOA). This has a 150-meter high Iconic Viewing Tower. No doubt the addition of two huge SM shopping complexes, not to mention some smaller Hypermart stores, has contributed greatly to the surging Cebu economy. Congrats again to SM Prime Holdings.

|2012-06-05 10:56:16|The Philippine Star By Bobit S. Avila 1858|SM City Consolacion opens in Cebu|

MANILA, Philippines—Retail giant SM Prime Holdings Inc. opened its 43rd shopping mall in the country, SM City Consolacion in Cebu, last Friday, June 1

It is the second of three malls the group wants to have in the bustling province of Cebu.

The mall, with a gross floor area (GFA) of 106,857 square meters, is located on Cebu North Road, Barangay (village) Lamac, Consolacion, Cebu.

It is SM Prime’s second mall in the province, after SM City Cebu, which opened in November 1993 and is 11 kilometers away.

The group’s third Cebu mall will be built on the reclaimed South Road Properties (SRP) area, expected to be opened in the third quarter of 2014.

“We warmly welcome all our valued customers to our newest and second mall in Cebu, SM City Consolacion,” SM Prime president Hans Sy said last week.

SM City Consolacion has a leasable area of 57,842 sqm, 89 percent of which has already been awarded to various tenants. The shopping mall’s anchor tenants are SM Department Store and SM Supermarket.

Among the quick service restaurants located in the mall are Jollibee, Chowking, Greenwich, Red Ribbon, Pizza Hut, KFC and Mang Inasal.

Food restaurants serving local Cebuano cuisine such as Chika-an Sa Cebu and Jonie’s Chicken are likewise tenants of SM City Consolacion.

Other mall tenants include BDO, Watsons, Ace Hardware, National Bookstore, Ideal Vision, Bench and Penshoppe.

The mall’s many amenities also include a Cyberzone for tech-related stores; a food court for close to 700 diners; four cinemas, with a combined seating capacity of 1,488; and parking for 700 vehicles.

The company, meanwhile, bared details for its planned mall at the SRP area, recognized as one of the growth areas for Cebu.

The SRP mall “will boast of a gross floor area of 241,600 sqm, making it Cebu’s biggest mall and fourth among SM malls,” the company said.

For the rest of 2012, SM Prime is scheduled to open SM City San Fernando in Pampanga, SM City Lanang in Davao City, SM City General Santos in Southern Mindanao, and SM Chongqing in China

By the end of this year, SM Prime will have 46 malls in the Philippines and five in China.

|2012-06-05 11:11:17|Philippine Daily Inquirer By Paolo G. Montecillo 1859|SM Mall of Asia Arena: The Eye-Theme Has It|

During the recent two-day Lady Gaga The Born This Way Ball Tour in Manila, the public was not only awed by her show stopping performance, but by the venue, the new state-of-the-art SM Mall of Asia (MOA) Arena.

Located on an 18,214-sqm site at the SM Mall of Asia Complex in Pasay, the new 64,085-sqm five-story landmark by the bay is a multi-purpose venue that can accommodate a seating capacity of 15,000 with a full-house capacity of 20,000.

“The Sy family, especially SM Prime Holdings, Inc. President Hans T. Sy, was very much involved in the details of the MOA Arena’s construction,“ said Edgar Tejerero, SVP of West Avenue Theaters Corp., the managing arm of SM Cinema. The Arena had the Arquitectonica International Corp. as its design architect and Monolith Construction and Development Corp. as its general contractor.

Designed for concerts and basketball games, it can also be configured for boxing, theater, fashion, and iceskating shows.

“The distinctive eye-shaped façade symbolizes the MOA Arena’s promise of delivering top-notch entertainment to its audience,“ said Arquitectonica’s David Zaballero, the MOA Arena’s project director. “It seeks to channel the message that every single event to be held in its premises will surely be a ‘feast for the eye’. People would certainly not only want to see but to be seen in this venue.

The Arena’s big eye design resting on a slanted podium plinth allows it to hold the large volume of the interior court within a dramatic vaulted space, while providing a distinctive identity to the building. An eye-shaped multimedia screen projects images of ongoing or future events.

The eye theme is repeated on the landscaping with eye configured plant boxes and ramps for the handicapped contained within protective walls that form an eye.

The Arena’s interiors are simple and minimalist. Arranged on two tiers, it has a ring of corporate suites separating the tower seats from the balcony levels. Performances converge on the event bowl, that volume of space that includes the event floor and the spectator’s seats around it. The Mosh Pit is the event floor used as a spectators’ area usually without seats provided, as in a musical concert.

It is the first events venue in the Philippines to use Robbins Inc.’s upgraded and newly improved portable floor design and the first to have Spalding Goal, the NBA Basketball goal standard, in the country. Robbins, Inc. has over 55 years experience in supplying high performance maple and synthetic sports flooring systems, and is the maker of the All Star Plus portable floor system, the system of choice by 16 NBA arenas.

To comply with international standards, the Arena has four dug-outs, a mess hall for an event’s technical team, an exclusive room for press conferences, and even a special Meet and Greet area.

The Arena’s Corporate Suites are another first, not only in the country, but also in all of Southeast Asia. There are a total of 41 corporate suites, exclusive and fully furnished room designed with its own lounge, mini bar, restroom and private gallery with cinema seats. Ten of these suites can be rented on a per event basis, while the rest are leased for a period of one to five years.

The state-of-the-art venue also has a live beaming capability to any SM Cinema nationwide, technologically enhanced internal crowd and traffic control, and Wi-Fi accessibility. It also has VIP amenities like smoking lounges, as well as restaurants in the concourses.

Moving around the Arena is easy with 10 elevators, 34 escalators, and special access lanes for PWDs. For customer convenience, it has 2,000 parking spaces at the south side of the mall with an additional 1,400 slots at the neighboring Mall of Asia Arena Annex (MAAX) Building. Valet parking services are also available.

Much of the Arena’s planning is focused on safety requirements with all necessary fire and safety requirements mandated by international building codes reviewed and put in place. Mobotix, the same company that equips the Vatican Apostolic Library with professional grade, high-resolution security devices, provides CCTV cameras in the Arena.

The Arena is the latest attraction in the Mall of Asia Complex, which includes one of the world’s largest malls, the SMX Convention Center, the E-Com Office Complexes, San Miguel By the Bay, the SM Corporate Offices, 1 Esplanade, and the Shrine of Jesus, the Way, the Truth, and the Life.

|2012-06-06 10:37:04|Manila Bulletin 1860|Big step forward|

TIDBITS . . . National University (NU) is this year’s host of the UAAP. They will be holding their games at the New Arena of the Mall of Asia with a 20,000 seating capacity. The Henry Sy/SM family owns 70% of NU.

There was an exciting Ateneo-La Salle game at the San Juan Flying V Arena with La Salle winning in overtime. Boss Danding Cojuangco who now oversees the La Salle team was in attendance with Sec. Titoy Pardo.

Former President Hosni Mubarak of Egypt has been sentenced to life imprisonment.

Vice President Jojo Binay who just arrived from Washington is visiting Capiz, Aklan, Iloilo and Antique for the next 3 days.

Congratulations to Fr. Herminio Dagohoy, OP on his installation as 96th rector of the University of Sto. Tomas.

PO1 Roberto Cruz of the Manila Police Dept. was charged with leading 3 men who robbed the house of Carlo Marc Bagui, 36, an SM sales manager at Sta. Mesa, Manila.

Senate seargent-at-arms, Gen. Jose Balajadia, has done a good job for ten years. He is now 68 years old.

|2012-06-06 10:30:02|The Philippine Star: SEARCH FOR THE TRUTH By Ernesto M. Maceda 1861|Santo Pedro’s mass will be at SRP|

CEBU CITY — It’s final. The national thanksgiving mass for the canonization of Beato Pedro Calungsod will be held at the South Road Properties (SRP), high-ranking Church officials announced Tuesday.

The local church raised more than P19 million for the canonization on October 21 in Rome and the national thanksgiving celebration on November 30.

Archbishop Emeritus Ricardo Cardinal Vidal, preparations committee chairperson, made the announcement with Cebu Archbishop Jose Palma during a press conference at the Archbishop’s Residence.

“Our meeting zeroed in on the venue for the national thanksgiving mass. It would be in SRP, that’s the final decision,” said Cardinal Vidal.

CEBU. Cebu Archbishop Jose Palma and Archbishop Emeritus Ricardo Cardinal Vidal show a scale model of the proposed structure to be built on the SRP where the thanksgiving mass for Pedro Calungsod’s canonization will be held. (Arni Aclao)

“SM management will take care of the site development,” he added.

Good neighbor

Cardinal Vidal said the expenses for site development were a major concern as this was projected to reach millions of pesos. This was the reason the Mandaue Reclamation Area was initially announced as the venue.

Marissa Fernan, SM Prime vice president, said the firm is willing to spend “as much as it would take for the preparations (to be finished).”

“The site is beside us (in SRP). (SM Prime President) Hans Sy said, ‘Why don’t we be a good neighbor?’ He visited the site and there are resources at the site,” Fernan told reporters.

The work entails site clearing, compacting, construction of vertical and horizontal roads using pavers, and lighting.

She also said the firm is building a church, the Shrine of Mary Mother of God, on the adjacent SM-owned property.

“The construction of the church is ongoing and will be finished by October. The church can be used as a holding area for the VIPs, the bishops,” she said.

Preparations

In a separate interview, Cardinal Vidal said he met with Hans Sy and his mother Felicidad Tan Sy, who is said to be the reason masses are held in SM malls.

The 81-year-old prelate said the meeting took place in Manila last month, before he went to his hometown in Marinduque for his annual vacation.

The committee on preparations is still raising funds for other expenses that add up to millions, said finance officer Msgr. Roberto Alesna. He said the committee has raised at least P19,892,000 as of May 31. This month, about P3 million was received by the committee.

The committee on venue, headed by Fr. Raul Gallego, submitted a report that stated they need about P12 million for the construction of the template that would be used for the mass.

The worship and liturgy committee, headed by Archdiocesan Commission on Worship chairman Msgr. Cristobal Garcia, also submitted a report with an estimated cost of more than P4 million for albs and vestments, among others.

Fund-raising activities include the sale of the limited edition Beato Pedro Calungsod sculpture made by renowned designer Kenneth Cobonpue, at P25,000 each. Buyers also get a chance to win expensive vehicles like a BMW and a Kia Sorrento.

P10M target

Alesna said all 364 priests and 147 parishes are expected to raise P10 million, and envelopes will be distributed to Catholic schools so that administrators, teachers, and parents have a chance to make contributions.

In Rome, the preparations are ongoing, although there are no figures on the expenses. Cardinal Vidal said the expenses during the beatification of Beato Pedro 12 years ago reached about P16 million.

Archbishop Palma said archdioceses and dioceses of the country would be contributing to help cover the expenses of the celebration.

He also emphasized that raising funds is not the focus of the frenzy in the preparations although “to us money is the solution to the problem.”

“This is a once in a lifetime event, an occasion for us to savor. We will do everything to make it solemn, memorable,” said Archbishop Palma. (Sun.Star Cebu)

|2012-06-07 10:46:07|Sun Star By Bernadette A. Parco 1862|Archdiocese accepts SM tycoon’s offer to develop venue for free; Calungsod templete to rise in south reclamation site|

The sea in Cebu City’s east coast will provide a backdrop for the country’s Nov. 30 national celebration of the canonization of Visayan martyr Pedro Calungsod.

The city government-owned South Road Properties (SRP) was chosen the venue of the national thanksgiving mass after SM tycoon Hans Sy offered to develop the site for free.

A templete or “small temple” will be built on 1,200 square meters of reclaimed land where church officials expect up to 800,000 people to gather for the liturgical celebration.

“We all decided that it will be at the SRP. It’s already final,” said Ricardo Cardinal Vidal with Cebu Archbishop Jose Palma in a press conference at the Archbishop’s Residence.

They announced the decision yesterday after a closed-door meeting where they accepted the offer of SM Prime Holdings represented by vice president Marissa Fernan and two members of a technical engineering team.

“Hans Sy decided to be a good neighbor,” Fernan said, and is willing to spend “as much as it would take to prepare the site appropriately for the occasion.”

SM is building its biggest mall, Seaside City, an P8.5 billion development that includes an international convention center, a church, and residential buildings, beside the designated site in the SRP.

SRP was chosen over two other locations – the Mandaue reclamation area and Fuente Osmeña park.

Eight criteria were used to select the venue – solemnity, visibility, accessibility, traffic management, security, capacity, cost and no disruption of basic services. The committee on venue was headed by Fr. Raul Gallego.

SRP was first offered by Cebu City Mayor Michael Rama, but the site was set aside in earlier deliberations by the Archdicoese after the cost of backfilling and preparing the open space was estimated at P100 million.

Both SM and the Calungsod planning committee headed by Vidal yesterday declined to reveal the cost of develoing the site now that the country’s biggest retail giant is stepping in to help.

A 100-day countdown to the Oct. 21 canonization of Pedro Calungsod will be launched at the Cebu Metropolitan Cathedral on July 14.

Calungsod, a Visayan teenage missionary helper, was killed by natives in Guam in 1672. He will be canonized by Pope Benedict XVI in St. Peter’s Square along with other beatified persons, mostly founders of religious organizations and clergy members from France, Italy, Spain, Germany and Amercia.

The national eucharistic celebration in Cebu City will happen a month and nine days days after the Oct. 21 ceremony in Rome.

Nearly 1 million people are expected to attend.

The venue is also expected to accommodate 3,000 VIPs composed of 50 church dignitaries, 100 government and civil society leaders, 300 archbishops and bishops, 700 clergy members, 2,000 choir members and 200 orchestra members.

It will also house the vesting area for the bishops and clergy, a press center, a police and security center, souvenir stores, first aid stations, water stations, food stalls and portable toilets.

“SRP has always been one of the venues but three weeks ago, before the opening of SM Consolacion, Mr. Hans Sy happened to visit the site and he felt that we could do something considering that we also have equipment and the resources there,” said Fernan.

“So it was just a matter of asking our contractors to cross the street and help us.”

Fernan said work will include “site clearing, compacting, making provisions for vertical and horizontal roads using pavers, and providing lighting for the venue.” Site development will start next week and finish in about three months.

From there, the templete will be constructed.

“We were able to rally our contractors for SRP to assist us. It was just a question of moving their equipment across the road. I think it will work out very well,” Fernan said.

Fernan said SM is also willing to accommodate VIPs and the clergy inside the Church of Mary, Mother of God, which SM is constructing at the SRP.

The Cebu Archdiocese earlier set a P60 million budget for preparations in Rome and Cebu related to the Calungsod canonization.

“At this point in time, thanks to the many generous people, money is not a big problem,” Archbishop Palma said.

Msgr. Roberto Alesna, chairman of the finance committee, said they have gathered P19.89 million million as of May 31. Last week they received another P3 million from a donor, he said.

Part of the budget will be used to print booklets to teach people about the life of Calungsod. Cebu’s 147 parishes are also being asked to raise donations for the activity.

A Kenneth Cobunpue artwork was launched last month as a limited edition commemorative sculptural piece for donors who give P25,000. The donation comes with a chance to win a raffle prize of two BMW cars and an SUV.

More than the external preparations, Palma said the faithful should be spiritually ready for the canonization of Calungsod who shall become the second Filipino saint.

“I hope this will become an occasion for us to believe that we are precious in the eyes of the Lord; that we can all become saints. My prayer is that in the course of the preparations, we all become more Christian, more holy, more devoted as Catholics, and more aware of our mission. And I think, that’s at the heart of all this preparation,” Palma said.

He said the archdiocese is not wasting money by staging a grand celebration.

“We take this as a once-in-a-lifetime event. We don’t know when another saint will be canonized. We would like this to be an occasion for us to really savor the blessing of a saint. It’s just like saying, money becomes secondary,” Palma said.

“Even if we spend a few million pesos, if this will truly be a very memorable event such that all the rest of our lives, it will become an inspiration for us, we will do everything to do it,”

|2012-06-07 10:47:03|Inquirer-Cebu Daily News 1863|Archdiocese accepts SM tycoon’s offer to develop venue for free; Calungsod templete to rise in south reclamation site|