They Say You Can’t Do Business In The Phils — Don’t Tell Henry Sy
SM Prime to build 4 new malls next yr
By Zinnia B. Dela Peña
The Philippine Star 10/09/2006
SM Prime Holdings Inc., the country’s largest shopping mall developer and operator, has earmarked P7 billion next year for the construction of four new malls and the expansion of SM Fairview and SM Cebu. SM Prime president Hans Sy said the new malls will be constructed in Bacolod City; Baliwag, Bulacan; Taytay, Manila; and Muntinlupa. Sy said the 2007 capital budget excludes land acquisition. Jeffrey Lim, vice-president for finance of SM Prime, said the projects will be funded with a combination of borrowings and internally-generated cash. SM Prime earlier said it intends to build four to five malls annually for the next three years in 14 locations including Marikina, Parañaque, Tarlac and Pangasinan. Rest of Article Here:
For those just starting their Philippine search for knowledge, SM is the nations largest retailer. The letters 
origibally stood for Shoe Mart, a little shoe store started by Henry Sy a Chinese immigrant to the Philippines many years ago.
he started out by finding a source for shoes that he could sell cheap enough to attract customes and still have decent qulity and profit margin.
Frome there, as they say, it was history.
One thing you will never have to worry about in the Phuilippines is finding a place to shop, for sure.
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