SM group to conclude talks with hotel investors by yearend- BusinessWorldAuthor: Ruby Anne M. Rubio Sy-led holding firm SM Investments Corp. expects to conclude by yearend talks with international hotel

Davao City- This city’s legislative council has decided to review the new Davao City tax code, approved in November last year, following a request made by representatives of retail giant SM Prime Holdings.

The SM Group, which has the country’s biggest chain of department stores and supermarkets, is in the thick of negotiations with PSMT Philippines for the purchase of two PriceSmart outlets, a source said.

SM Group forms finance companyBy Jennifer B. Austria Retail magnate Henry Sy has formed a financial holding company called Syntrix Holdings Corp. to assist in SM Group’s real estate transactions

The opening of SM’s Mall of Asia has provided jobs to least 6,000 unemployed residents of Pasay City.

Metropolitan Bank & Trust Co. and publicly listed SM Prime Holdings, Inc have signed a facility agreement for the issuance of P3 billion worth of SM Prime floating rate notes (FRN) due 2011.

SM Investments Corp.’s newly formed will focus in developing the central business park along Roxas Blvd, its Tagaytay properties, Hamilo Coast, a new residential resort complex in Batangas, and the mall-anchored residential projects.

Conglomerate SM Investments Corp. (SMIC) has finalized the acquisition of the supermarket and hypermarket operations of its affiliate firms through a share-swap deal with majority shareholders.

SM Investments Corp. of taipan Henry Sy Sr. will absorb its supermarket and hypermarket businesses through a share swap deal valued at roughly P12.5-P13 billion.

SM Prime Holdings, operator of the SM Malls, is expecting early completion of the construction of its shopping center project in Bacolod City. Instead of finishing early next year, the new mall might open before the end of 2006.