Sys, Ayalas, Gokongweis, 7 business groups back return to office

Some seven business organizations and six companies welcomed the government’s push for people to return to the workplace which they said was a “significant step towards the country’s journey to post-pandemic normalcy.”

n a statement, the business groups said they were looking forward to seeing an increase in business activity with employees returning to the workplace.

“The path to recovery, we aver, begins with the presence in the business and commercial centers of our country’s workers,” they said.

These businesses include Ayala Land, SM Prime, Robinsons Land, Chamber of Real Estate and Builders Association Inc., Federation of Filipino Chinese Chambers of Commerce and Industry, Financial Executives Institute of the Philippines, Go Negosyo, Management Association of the Philippines, Megaworld, Philippine Constructors Association, Philippine Retailers Association, Philippine Chamber of Commerce and Industry and Resto PH.

They said the experience from Typhoon Odette last year showed that working from home is not meant for all businesses and should be temporary.

“Economic momentum has been established and we are now within easier reach of the prosperity we enjoyed in 2019. We encourage the public to now venture out of their homes while still maintaining safety protocols,” they said.

 SOURCE: Bilyonaryo

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Philippine developer SMDC hailed for its Corporate Social Responsibility efforts

 The Special Recognition Award for Corporate Social Responsibility at the Dot Property Philippines Awards 2021 was bestowed upon a homebuilder making positive contributions that extend beyond property.

SM Development Corporation’s efforts know no bounds. Recently, the developer teamed up with local government units and the Philippine Red Cross on a vaccination program for all its residents and employees. Throughout the pandemic, SMDC has found ways to give back.

“We have medical missions, and we also have bloodletting. We even worked with the Red Cross on blood drives during the COVID-19 pandemic and we able to donate a lot of blood which was needed,” SMDC President Jose Mari Banzon said during an interview with Dot Property Group.

However, that is just one of the reasons why they are known as The Good Guys. SMDC continues to find new and inspiring ways to support local communities, such as its efforts to promote local farmers and home-based entrepreneurs by creating markets.

“The local farmers can bring produce and sell it on the weekends at market stalls in SMDC developments. This provides them with extra income,” Banzon explained. “Of course, residents are encouraged to sell their own products such as baked good. As a matter of fact, we have had a lot of OFWs who lost their jobs overseas and came back to Manila. They have joined our weekend markets and it turns out they don’t even want to go back because their income is very secure.”

By fostering community spirit, promoting healthy lifestyles and developing secure and safe neighborhoods, SMDC truly are the Good Guys. They are worthy winners of the Special Recognition Award for Corporate Social Responsibility at the Dot Property Philippines Awards 2021.

SOURCE: DotProperty

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Sy-blings holding company posts 65% jump in profit as retail, property, banking units roar back from pandemic

SM Investments Corp. bounced back strongly last year with earnings growing 65 percent to P38.5 billion as consumers stepped up spending.

In a statement, SMIC said consolidated revenues went up nine percent to P428.1 billion amid a rebound in consumer spending in the run up to Christmas.

SMIC chief executive officer Frederic C. DyBuncio attributed the growth in revenue to the improved performance of its retail and mall businesses as mobility restrictions are eased, as well as the solid results of its banking arm.

“It is our hope that the further easing of restrictions after the latest surge in COVID cases will lead to sustained recovery of the economy and our businesses as the country adjusts to living with the virus. We are committed to continue our expansion plans,” DyBuncio said.

SM Retail Inc., which consists of food and non-food stores, saw net income surge 133 percent to P9.6 billion. Revenues rose two percent to P303.9 billion due to sustained growth in sales in the SM Stores and Specialty Stores.

The group added a total of 294 new stores across the entire portfolio for a total of 3,215 outlets, consisting of 68 The SM Stores, 1,539 specialty retail stores, 62 SM Supermarkets, 52 SM Hypermarkets, 214 Savemore, 73 WalterMart and 1,207 Alfamart stores.

SMIC ended 2021 with P1.3 trillion in total assets, up 10 percent year on year.

SOURCE: Bilyonaryo

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Sy-blings’ property arm heads into 2022 with strong growth: SM Prime profit jumps 21% on higher mall revenues

Integrated property developer SM Prime Holdings Inc. delivered a strong performance last year with its net income growing 21 percent to P21.8 billion on higher contributions from the mall business.

Consolidated revenues reached P82.3 billion, almost the same level as 2020.

Operating income rose 11 percent to P32.4 billion from P29.1 billion

The residential business under SM Development Corp. (SMDC) still accounted for the bulk of SM Prime’s total revenues at P45.9 billon, lower than its previous year’s contribution as sales take-up slightly declined to P98.9 billion.

Revenues from the mall business amounted to P24.1 billion, up 2.1 percent from the previous year amid the easing of mobility restrictions in most parts of the country in November. Rent income improved by six percent to P23 billion.

Overseas, SM Prime’s mall operations in China booked a net income of RMB 0.2 billion, up 154 percent as revenues jumped 20 percent to RMB 800 million as businesses quickly returned to normalcy after containing the coronavirus.

Meanwhile, revenues from offices, hotels, and convention centers, remained resilient at P6.6 billion or four percent higher than the previous year.

“As we begin to see the result of joint effort by the government and private organizations to manage the pandemic, SM Prime is set to pursue business expansions with broader funding options available locally and internationally. We will continue to work with the government in helping the nation rebound form the challenges in the past two years,” said Jeffrey C. Lim, SM Prime president.

SOURCE: Bilyonaryo

 

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