MANILA, Philippines – Undaunted by the economic crisis affecting many countries worldwide, SM Investments Corp. (SMIC), the listed holding company of retail tycoon Henry Sy, is ramping up its expansion program this year with the addition of 16 new supermarkets, five hypermarkets and two department stores.

MALL DEVELOPER AND OPERATOR SM Prime Holdings will open three more malls this year and expand two existing ones despite the tough business environment caused by the global economic crisis.

MANILA — Despite the ongoing global economic slump, the Philippines’ largest shopping mall developer, SM Prime Holdings Inc., intends to continue its expansion across China and the Philippines in the coming year, company president Hans Sy says.

The National University and the SM Group of Companies recently held the topping-off ceremony of its new eight-story academic building. The building, which started its construction in October 2008, is targeted for completion in June 2009, just in time for the first semester of school year 2009-10.

SM Prime Holdings Inc., the largest Philippine shopping mall operator, advanced the most in more than two months on optimism its expansion in China will boost earnings after the world’s third-biggest economy kept its growth target.

SM Prime Holdings Inc., the largest Philippine shopping-mall operator, advanced the most in more than two months on optimism its expansion in China will boost earnings after the world’s third-biggest economy kept its growth target.

Metrobank Card Corp, a unit of the country’s second-biggest lender Metrobank, plans to sell 3-year bonds worth P2 billion with an option to raise it to P3 billion, a banker familiar with the deal said.

KNOWN to have a solid reputation of going against any economic downturn, the SM Group controlled by retail magnate Henry Sy is planning to build a P2-billion shopping center in Taguig City by the end of the year.

KNOWN to have a solid reputation of going against any economic downturn, the SM Group controlled by retail magnate Henry Sy is planning to build a P2-billion shopping center in Taguig City by the end of the year.

RETAIL SPACES are expected to remain in demand and drive the growth of this property segment as shopping-crazy Filipinos continue to flock to malls despite the slowing global economy.