SM Prime Holdings, Inc., remains optimistic of prospects in China despite the current uncertainty revolving its slowing economy. 
 
Hans T. Sy, SM Prime president, said the company is committed to doubling its growth.
 
“Of course we may be affected a little because of the yuan depreciation but we’re into malls. SM is not into financial business,” he said. 
 
“We are positive. This is as far as SM is concerned,” he added.
 
SM has six malls in China with a gross floor area of 900,000 sq.m. It recently opened SM City Zibo. 
 
In total SM has 8.3 million sq.m., of GFA, including its Philippine malls. 
 
Sy said the company remains fixed in opening 4 malls this year — San Jose del Monte, Trece Martirez in Cavite, East Ortigas and Cherry Foodarama in Congressional — and further grow  SM Prime’s business. 
 
For the year, SM Prime is looking at a capital expenditures of between P75-80 billion.
 
Sy said the company’s five-year plan is already set and is “very sustainable” despite current economic concerns. 
 
SM Prime earlier reported profits of P22.9 billion, 70 percent higher than last year’s P13.47 billion, for its nine-month operation.
 
“On a recurring basis, net income increased by 15 percent to P15.5 billion in the same period,” it earlier said.
 
Consolidated revenues reached P52.2 billion, 9 percent higher than last year’s P47.89 billion.