FOR A COMPANY spawning a shopping mall culture for Filipinos, letting its legion of loyal shoppers and stakeholders know about its faithfulness to transparency and accountability is a daunting task, one that should transcend mere corporate parlance.

Celebrating its 50th founding anniversary, SM Prime Holdings, Inc. aimed to go beyond regulatory disclosure requirements and reach out to a broader spectrum of readers in its 2007 annual report.

SM Prime, a leading mall operator with 30 world-class malls nationwide and three in China by the end of 2008, went beyond assuring financial strength in its report.

It showcased the heritage that built its malls brick by brick, paying tribute to its chairman and founder Henry Sy, Sr. and highlighting its growth over the years.

‘Transparency helps us talk about SM Prime’s essence and the core values that have backed its growth over the years,’ Executive Vice-President and Chief Financial Officer Jeffrey C. Lim said.

‘This same transparency through our corporate communications is the same well where the public can draw inspiration from, learning SM rich history rooted from Mr. Sy’s visions,’ he added.

Mr. Lim is one of the human faces of the annual report, where a unique section called ‘Spotlight’ gave readers a glimpse into his insights and experiences as one of SM Prime’s prime movers, as well as into efforts to improve corporate governance standards.

A similar section called ‘Trends and Expectations,’ a Q&A with SM Prime President Hans T. Sy, revealed SM Prime’s strategic direction and anticipated trends and challenges in the market.

The report likewise heralded the entrance of the firm, listed on the Philippine Stock Exchange since 1994, into the Chinese market with the acquisition of three Sy family-owned malls there.

Another dominant feature of the annual report was SM Prime’s first mall — SM City North Edsa — in which the company gave a sneak peek into its greening project, the 400-meter ‘Skygarden.’ The area is a covered and landscaped path with a lagoon, waterfall, an aviary and an amphitheater all in the works.

‘We honor SM North Edsa, being our very first, by sprucing it up with natural elements,’ the SM Prime president said in the annual report.

The report also discussed what was new at SM Mall of Asia in Pasay City, highlighting the mall’s modern lifestyle offerings, among these the high-tech Bowling Center, the SM Science Discovery Center and its disabled-friendly facilities.

‘It has been very important for us, too, to disclose our corporate social responsibility initiatives to our stakeholders,’ added Mr. Lim.

The annual report also positioned SM Prime as one of the SM Foundation’s partners in building communities through free college education, medical and dental services, wellness centers, and livelihood programs for select beneficiaries.

The spotlight on these interim results and strategic plans of the company, Mr. Lim said, are important for SM Prime to ‘anticipate, monitor, evaluate and manage its risks’ and to disclose the company’s compliance system.