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Author Topic: STOCK MARKET PICK REVIEW : SM Investments Corporation (SM) Updates  (Read 21 times)

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RichPoorDad

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STOCK MARKET PICK REVIEW : SM Investments Corporation (SM)

SM is a leading Philippine company that is invested in market leading businesses in retail, banking, and property. It also invests in ventures that can capture the high growth opportunities in the emerging Philippine economy. SM has majority shares in SM Retail (77.3%) which is leader in the retail sector both in terms of number of stores and sales, BDO (44%) which is the biggest bank in the Philippines, and SMPH (50%) which is the biggest mall operator in the Philippines. Aside from these major business, SM ahsl has investments in China Bank, Belle Corp., Atlas Mining, and CityMall Commercial Centers.


Industry leader in the retailing business

SM is the leader in retailing industry with 2,303 retail stores across the nation. SM Retail believes that the retail sector is stil underpenetrated with bulk of trade in rural areas done through informal channels. With this in mind SM Retails remains aggressive in its expansion plans with the aim of protecting and growing its already-dominant market share.

Benefiting from the highly defensive nature of consumer spending

SM is a major beneficiary of the highly resilient nature of consumer spending in the country. Consumer spending is one of the major drivers of the Philippine economy and it has consistently increased despite periods of economic downturn. Based on our estimates, SM Retail and leasing component of SMPH together contribute 50% of SM’s net income and 64% of its NAV.


Major businesses in expansion mode

Despite the size SM, its core businesses are stil in expansion mode as they look ko capitalize on the strong economy and low interest rates. SMPH continues its mall expansion in the Philippines and in China. SM Retail continues aggressive expansion of its geographical footprint as its seeks to formalize the retail market. BDO looks to capitalize on consumer lending and investment spending.
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