SM Prime marks 3 decades of being a public company

MANILA, Philippines — SM Prime Holdings Inc., the Sy family’s listed integrated property developer, remains committed in its pursuit of sustainable excellence following three successful decades of being a publicly listed firm.

SM Prime yesterday celebrated its 30th listing anniversary as public company through a ceremonial bell-ringing held at the Philippine Stock Exchange (PSE).

“Amidst the challenges faced by the company, we remain resilient and dedicated to our commitment as a catalyst for economic growth that enriches the quality of life of millions of people. We remain committed to delivering exceptional value to our stakeholders, enriching communities and contributing to overall social economic development as we expand our horizon and gear towards a more sustainable and prosperous future,” SM Prime president Jeffrey Lim said.

“May this new milestone bring more optimism to further the growth of the company powered by our passion and determination to deliver a better future for everyone today and the years to come,” he said.

Guided by the vision of its founder, taipan Henry Sy Sr., SM Prime was incorporated to build and operate world-class one-stop shops for shopping, dining amusement and entertainment in the Philippines.

Lim said SM Prime has continued to reach new heights as an integrated property developer over the years. The company has become one of the largest and most valued property companies not only in the Philippines, but the whole of Southeast Asia.

Lim said the PSE has served as an avenue to raise needed capital to support the company’s growth through fair and efficient capital market trading.

SM Prime had its stock market debut on July 5, 1994.

“From our four malls in 1994 when the company went public and raised almost P6 billion, we had grown into 22 lifestyle cities nationwide with a diverse portfolio of 86 malls, 91 residential developments, 22 office towers, 10 hotels and eight convention centers. All these would not be possible without the relentless trust and confidence of the investing public,” he said.

PSE president and CEO Ramon Monzon said some of SM Prime’s achievements in the stock market include its consistent inclusion in the PSE index since October 1994, its yearly dividend payout since 1996 and being the first Philippine listed company to breach the P1 trillion market capitalization mark in 2017.

“Taking into account all the dividends and the appreciation of SM Prime’s stock price since its 1994 initial public offering (IPO), investors who bought SM Prime during its IPO would have earned a mind-boggling return of 972.6 percent,” Monzon said.

Attesting to its commitment to excellence, SM Prime has been recognized by various entities for its strong front in corporate governance.

The Institute of Corporate Directors awarded SM Prime with the Five Golden Arrow Awards for its proactive engagement in corporate governance best practices.

The company also received numerous recognitions from the 14th Asian Excellence Awards by the Corporate Governance Asia, as well as a Gold Award for Diversity, Equity, and Inclusion at the recent FinanceAsia Awards.

SM Prime attributed these achievements to the diligent and passionate work of the employees and management, guided by its board of directors.

“We extend our heartfelt gratitude to all who have been a part of our remarkable journey – to our shareholders, customers, business partners, the investing public, the bankers, and the media - your unwavering support has been pivotal in our growth,” Lim said.