MANILA, Philippines—Tycoon Henry Sy’s SM Investments Corp. aims to sustain a net profit growth range of 12-15 percent each year for the next five years and may consider further overseas opportunities to help fuel such growth.

In a recent interview, SMIC president Harley Sy said the group, which was now putting up at least one new shopping mall in mainland China each year, was also looking at other overseas investments in line with its existing businesses.

Aside from shopping mall development, SMIC has interests in retailing, banking, residential development and hotel/tourism.

Asked whether SMIC was looking to bring more businesses in China aside from shopping mall development, Sy said: “We’re doing something along that line to sustain our growth. We want to grow our net profit by 12-15 percent for the next five years.”

However, Sy said nothing definite had been mapped out so far, when asked whether the group would likewise want to put up residential development adjacent to its shopping malls in China. Asked what other businesses the SM group would like to bring to China, Sy said it would stick to its core expertise.

Jeffrey Lim, chief finance officer of SMIC’s shopping mall development arm SM Prime Holdings Inc., said the company was now working to secure additional shopping mall sites in China.

“By 2013, we should have additional three to four sites in China on top of the current developments that we have,” Lim said.

SMPH has three existing malls in China and is set to open its fourth in the city of Suzhou.

SMIC last week reported that its first-semester net profit grew by 15 percent year-on-year to P8.5 billion on robust contribution from various businesses. As SMIC also expects the domestic economy to sustain a strong momentum in the second half, the company has upgraded its full-year 2010 net profit growth forecast to 14 percent from 12 percent.

Next month, SMIC officials will embark on a no-deal overseas roadshow to update investors about the company’s activities. Sio said SM had no need to borrow as internal cash flow could fund expansion needs, but would be open to opportunities for cheap financing.

“If somebody can offer us opportunistic financing, who are we to refuse?” Sio told reporters.

The investor briefings will be held in Hong Kong, Singapore, London, Boston, New York and Denver in early September, Sio said.