THE SM Group on Thursday said that it was looking at next year with “guarded optimism” given the economy’s continued growth amid ongoing headwinds.
SM Investments Corp. (SMIC) President and CEO Frederic DyBuncio, in a statement, claimed that the business sector was adapting well to challenges such as the peso’s volatility and higher inflation.
“Any moderation in inflation should trigger a strong confidence rebound,” he added, which “could create opportunities in consumer-focused sectors in the country, and we are poised to cater to these evolving demands.”
The SM Group noted that demand had sustained household spending in the third quarter — 5.1 percent, unchanged from a year earlier — based on data from the Philippine Statistics Authority.
To address this demand, the group said that it would continue to expand into more underserved areas, contributing to economic development and also partnering with government stakeholders to enhance customer access to modern retail, financial services and integrated property developments.
“By investing and expanding to more areas nationwide, SM creates new markets and improves access to these essential sectors, serving more communities and helping stimulate sustained economic activities,” DyBuncio said.
SM was also said to be investing in ventures such as renewable energy and logistics, in particular investing via Philippine Geothermal Production Co. (PGCP) that produces 300 megawatts of geothermal power.
“SM aims to continue to develop geothermal concessions through PGCP in support of the Department of Energy’s goal of reaching 50 percent renewable energy supply by 2040,” the group said.
Property arm SM Prime Holdings, meanwhile, has partnered with GUUN Co. Ltd. to implement Japanese methods of reducing landfill impact via the conversion of nonrecyclable and hard-to-recycle packaging into alternative fuel.
BDO Unibank Inc. — described as one of the largest funders of renewable energy products in the country — was said to have subsidized P898 billion worth of sustainable finance, including loans to 59 renewable energy projects, as of end-December last year.
In the area of logistics, meanwhile, SM subsidiary 2GO launched the MV Masigla and MV Masikap to help connect 19 ports across the archipelago, including Iloilo, Bacolod, Cagayan de Oro and Manila.
“Our focus for 2025 will be to drive purposeful growth, empowering communities and partners through our investments toward a sustainable future,” DyBuncio concluded.
SMIC’s share price fell by P19.50 to close at P880.50 apiece amid a marginal 0.06-percent rise for the benchmark Philippine Stock Exchange index. WITH THE MANILA TIMES
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