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‘We’ll probably borrow PHP4 billion next year to fund our capex,’ Lim told reporters, declining to provide further details.   He said SM Prime expects to have a total of 33 malls nationwide by the end of 2008, up from the current 29. 

In November, SM Prime’s board approved the acquisition of three shopping malls in China from the Sy family, who are the company’s major shareholders.  The purchase will be done via a PHP10.8 billion share swap.