Company: SM Investments Corporation, Pasay City, Metro Manila, Philippines
Nomination Submitted by: SM Investments Corporation
Company Description: SM Investments Corporation, the largest conglomerate in the Philippines, was established in 1958 by Henry Sy, Sr. It began with a shoe store called ShoeMart, which grew into a chain of department stores and malls. The company now operates over 4,000 retail stores and 86 malls, with over 140,000 employees, making it one of the biggest employers in the country.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Company of the Year - Conglomerates - Large
 Nomination Title: SM Investments Corporation
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since 1 January 2022, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 196 words used.
Founded in 1958 by Henry Sy Sr., SM Investments Corporation (SMIC) began as a humble shoe store in Manila, Philippines. Over the decades, it has grown into one of Southeast Asia’s largest and most diversified conglomerates. SMIC operates across four core businesses: retail, banking, property and investments in related high-growth businesses.
In retail, SMIC is the leading player in the Philippines, with a vast network of department stores, supermarkets, and specialty stores. The company's banking arm, BDO Unibank, is the largest bank in the Philippines in terms of total resources, customer loans, and deposits. In property, SM Prime Holdings is one of the largest integrated property developers in Southeast Asia, renowned for its innovative malls, residential projects, and commercial properties.
SMIC's commitment to sustainability and corporate social responsibility is evident through its various initiatives. The company actively engages in environmental conservation, community development, and disaster response programs. SM Foundation, the company’s social development arm, focuses on education, healthcare, and sustainable agriculture, enhancing the lives of millions of Filipinos.
SMIC’s continuous expansion, strong financial performance, and dedication to customer satisfaction and community development have solidified its reputation as a corporate leader and trusted brand in the region.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2022 that you wish to bring to the judges' attention (up to 250 words):
Total 243 words used.
1. Financial Performance:
In 2023, SMIC achieved the highest recorded earnings by a Philippine company, with a net income of PHP 77 billion, a 25% increase from the previous year.
2. Sustainability Initiatives:
SM is committed to reducing our carbon footprint by using energy-efficient buildings and increasing our use of Renewable Energy (RE). In 2022, SMIC acquired the Philippine Geothermal Production Company (PGPC), which operates two geothermal steam fields producing some 300 MW of electricity. BDO is funding 59 large-scale RE projects, including solar, wind, water turbines, biomass, and geothermal. SM Prime partnered with GUUN of Japan to recycle separated waste into alternative fuels.
In retail, our Green Finds initiative offers over 12,000 sustainable, organic, local products to our customers. With disaster preparedness and resilience, we are dedicating over 10% of our annual capex to developing disaster-resistant features in our properties.
3. Employment
SM is one of the country’s biggest job creators, employing over 130,000 individuals and supporting jobs for over 20,615 tenants. In 2023, SMIC was recognized as one of the World's Best Employers by Forbes.
4. MSME Facilitation
The MSME sector accounts for 40% of the Philippines’ GDP. SM supports over 100,000 MSMEs by providing market access and financing.
5. SM Foundation
Through SM Foundation, 4,214 scholar graduates went to a range of colleges. We also have over 5,400 tech vocational alumni scholars. In healthcare, SM has served over 1 million Filipinos through medical missions.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 54 words used.
Serving customers has been at the heart of our business for over 65 years. At SM, we are proud to have grown from a single shoe store to where we are today. Millions of Filipinos count on us daily and we look forward to serving more as we continue to expand across the nation.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 62 words used.
SMIC's 2023 Financial Performance - https://www.sminvestments.com/press_release/sm-investments-grows-net-income-by-25-to-php-77-billion-in-2023/
SM Scholars - https://malaya.com.ph/news_living/scholar-achieves-dreams-continues-cycle-of-social-good/
Medical Missions - https://www.sm-foundation.org/news/sm-foundation-kicks-off-mallbased-medical-mission/
10M COVID vaccines administered in SM Malls nationwide - https://www.smsupermalls.com/press/convenience-and-sustainability-pushing-the-retail-industry-forward/
SMIC recognized as one of the World's Best Employers by Forbes - https://www.sminvestments.com/press_release/forbes-statista-recognize-sm-as-worlds-best-employer/
SM, the home of MSMEs - https://mb.com.ph/2023/9/1/sm-group-continues-to-support-msm-es
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