(14 August 2006. Pasay City, Philippines) Holding company, SM Investments Corporation reported an 85% growth in net income for the first six months of 2006 to Php5.1 billion boosted by extraordinary gains from the sale of marketable securities during the period and Global Depository Receipts in the first quarter.

THE holding firm SM Investments Corp. of mall tycoon Henry Sy said its board had approved a plan to reorganize and simplify its corporate structure by grouping subsidiaries, affiliates and other assets together according to lines of business or interests.

Rental rates for retail spaces in Metro Manila continued to rise in the first half with strong consumer spending supporting its growth, property services firm Jones Lang LaSalle said. In

SM Investments Corp. said it will create subsidiaries and affiliates as part of a ownership restructuring plan that will simplify its corporate structure. In a statement, SM Investments said it approved the plan aimed at realigning the ownership of shares and properties within SM to “follow major business lines, namely retail merchandising, mall operations, the banking and financial services, real estate and private investments.

SM Investments Corp. (SMIC), the listed investment holding company of retail tycoon Henry Sy, has approved a restructuring plan aimed at simplifying the company’s structure by grouping sub-sidiaries, affiliates and other assets together in their respective lines of business or interest.

SM Investments Corp. (SMIC), the listed holding firm of retail king Henry Sy Sr., is moving to simplify its corporate structure by putting subsidiaries, affiliates and other assets together in their respective lines of business or interest.

Sy-led holding firm SM Investments Corp. (SMIC) yesterday announced plans to form two new companies within this year as part of its efforts to simplify its organizational structure among its diverse business interests. An SM Hypermarket outlet at the new SM City North EDSA’s The Block.

Mall developer SM Prime Holdings Inc. has posted a nine-percent increase in its net profit attributable to the parent firm for the first half of the year to P2.6 billion from P2.4 billion last year mainly driven by robust revenue growth during the period.

SM Prime Holdings, Inc. (SM Prime), the country’s leading shopping mall developer and operator, reported a 9 percent growth in net income for the first six months of the year to P2.6 billion from P2.4 billion in the same period 2005.

SM PRIME Holdings Inc., the Philippines’ largest shopping mall operator, said its profits in the first six months of the year rose on revenues from its new malls.