(28 March 2020. Pasay City, Philippines) SM and its various companies stand in solidarity in the battle against COVID-19 as it continues to extend much-needed support to stakeholders and several institutions to help them deal with the ongoing COVID-19 situation.
Rapid Deployment of Resources for Medical Needs
Through SM Foundation, SM has donated and pledged over PHP170 million, surpassing its initial allocation of PHP100 million as it focused its efforts on giving timely personal protective equipment, testing kits and intensive care unit (ICU-grade) ventilators (See Annex A).
To spur morale among front liners, SM Foundation, in partnership with Goldilocks, brought bread, cakes and other pastry products to 30 hospitals and medical facilities around NCR. Goldilocks Foundation also provided food donations to public safety front liners.
In addition, all SM Supermarkets, SM Hypermarkets and Savemore Markets in Metro Manila gave free turon (banana fritter snacks) and water to doctors, nurses, medical practitioners as well as to checkpoint personnel.
Rendering Continuing Service to Our Customers
SM, recognizing its responsibility to customers and the community while complying with quarantine measures, ensured the continued operation of supermarkets, banks and pharmacies in its various locations. These include over 300 SM Supermarkets, SM Hypermarkets and Savemore Markets in 74 malls nationwide and several properties across the country that have remained open to provide essentials in their respective areas.
As of March 26, BDO has kept open over 120 selected branches in Metro Manila and nearby cities with shortened banking hours. BDO branches in Visayas and Mindanao, together with BDO Network Bank branches remain open. More than 4,400 ATMs are also operational nationwide. To help credit card and loan customers in focusing on keeping themselves and their loved ones safe, BDO has also provided a 60-day payment extension for qualified Credit Card, Auto, Home, SME and Personal Loan customers with due dates of up to April 15, 2020.
Over 600 Watsons branches nationwide have remained open during the duration of the quarantine.
Supporting our Tenants and Consignors
The extensiveness of the government-imposed quarantine is affecting the sustainability of operations of tens of thousands of micro, small and medium enterprises. Sensitive to their situation, SM Supermalls has waived rentals to all tenants nationwide from March 16 to April 14, 2020.
THE SM STORE (department store) is also providing financial assistance to the employees of its consignors.
Taking Care of our People
SM has assured all of its employees their regular compensation as well as the extension of an Emergency Financial Assistance to its front liners, security guards and janitorial staff during the Enhanced Community Quarantine (ECQ) period from March 16 to April 14, 2020. (For extent of assistance see Annex B)
It is focused on helping these key resources so that they in turn can be of service to others. All in all, across the group, these consist of over tens of thousands of individuals.
On a daily basis since the ECQ, SM has also been undertaking measures to protect the safety and welfare of its front line personnel with protective gear, meals, and transportation whenever possible.
SM is keenly aware that much work remains to be done. Challenges and opportunities continue to emerge by the day. Nevertheless, SM remains steadfast in doing its part to help the Philippines heal.
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About SM Investments Corporation
SM Investments Corporation is a leading Philippine company that is invested in market-leading businesses in retail, banking, and property. It also invests in ventures that capture high growth opportunities in the emerging Philippine economy.
SM’s retail operations are the country’s largest and most diversified with its food, non-food and specialty retail stores. SM’s property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines with interests in malls, residences, offices, hotels and convention centers as well as tourism-related property developments. SM’s interests in banking are in BDO Unibank, Inc., the country’s largest bank and China Banking Corporation, the 6th largest bank.
For more about SM, visit www.sminvestments.com
SM has donated medical supplies and equipment to various hospitals and institutions. Its initiatives included donations to:
- The Philippine General Hospital (PGH) Medical Foundation for its immediate needs
- Over 50 hospitals for the Personal Protective Equipment (PPE) needs of their medical teams
Hospitals which received PPE donations as of March 27, 2020:
Department of Health(DOH)-identified Hospitals:
- University of the Philippines PGH
- Lung Center of the Philippines
- Jose N. Rodriguez Memorial Hospital
Major Government Hospitals
- Research Institute for Tropical Medicine (RITM)
- National Kidney and Transplant Institute
- San Lazaro Hospital
- East Avenue Medical Center
- Jose Reyes Memorial Medical Center
- Philippine Heart Center
- National Children’s Hospital
- Rizal Medical Center
- Ospital ng Sampaloc
- Jose Fabella Memorial Hospital
- San Juan Medical Center
- University of the East Ramon Magsaysay (UERM) Memorial Medical Center
- Makati Medical Center
- The Medical City
- Manila Doctors Hospital
- Marikina Valley Medical Center
- QualiMed Hospital SJDM
- University of Sto. Tomas Hospital
- Chinese General Hospital
- Ospital ng Muntinlupa
- Quirino Memorial Medical Center
- Hospitals outside Metro Manila for their PPE and medical supplies These locations include:
- Cagayan de Oro
- Surigao del Sur
- Bicol region
- Zamboanga Sibugay
- Dedicated COVID hospitals of 62 units of Intensive Care Unit (ICU)-grade ventilators
- Various government hospitals of Manila Healthtek’s Gen-Amplify test kits. These kits will be able to service 20,000 samples.
- Research Institute for Tropical Medicine (RITM) of QIAamp Viral RNA Kits and Superscript III Platinum One-step, These kits are equivalent to 10,000 samples
- Baguio General Hospital and the Lung Center of the Philippines of FDA-approved Solgent PCR test kits. These kits allow testing of 5,000 samples.
- 50 recipient hospitals of hygiene packs for their medical front liner
SM has assured all of its employees their regular compensation as well as the extension of an Emergency Financial Assistance to its front liners, security guards, and janitorial staff during the Enhanced Community Quarantine (ECQ) period from March 16 to April 14, 2020. The extent of this assistance includes the following:
- All employees will receive their regularly scheduled salaries during the ECQ period without deductions made against their Vacation and Sick Leaves;
- The company’s front liners, who comprise the skeletal workforce, will, in addition, be provided with premium pay;
- All Security Guards and Janitorial staff will receive financial assistance of PHP 5,000 for the period.