(28 April 2021. Pasay City, Philippines) SM Investments Corporation is focused on safety, innovation and the collective resilience of its partners and communities.
In his response during the company’s Annual Stockholders’ Meeting, SM Investments President and Chief Executive Officer Frederic C. DyBuncio said SM has made the health and safety of its stakeholders in the SM ecosystem its top priority.
To help with overall recovery efforts, SM is rolling out vaccination to thousands of employees across the group for free within the year once supply is available.
SM also recently offered its facilities as vaccination venues nationwide for use by local governments in reaching as many citizens as possible.
Vaccination sites are located in SM malls in Pulilan, Olongapo, Marilao, Cabanatuan, Cauayan, Tuguegarao, Masinag, San Mateo, Paranaque, Muntinlupa, Antipolo, North EDSA, Taguig, Trece Martires, Rosario, Calamba, San Pablo, Lemery, Lipa, Cebu, Iloilo, Bacolod, Ormoc, Butuan and General Santos with more to be added soon.
Together with the Philippine Red Cross (PRC), saliva RT-PCR testing was made accessible in more than 10 malls nationwide; SM has also donated about 2,000 mattresses and other essentials to PRC’s isolation wards for COVID-19 patients in various universities in the National Capital Region. This is in addition to converting the Mall of Asia Arena into a mega testing center to boost the government’s testing capacity.
“These will help to build the confidence that our consumer-led economy urgently needs. The key is to continue to innovate and operate safely, which we have done and continue to do. We continue to respond and adapt to changing customer needs and touch points to serve our customers better,” Mr. DyBuncio said.
SM has continued to support its partners especially the thousands of SMEs in its supply chain. As a group, SM provided over PHP30 billion in overall support in the form of waivers, payments, and donations.
SM also provided loan extensions on top of group-wide donations and on-the-ground relief efforts for host communities during the pandemic.
“Our collective resilience is necessary to safeguard our long-term growth and to ensure we can continue to promote responsible development nationwide,” Mr. DyBuncio said.
Adapting to New Customer Needs
SM quickly developed new retail delivery channels online and by phone, supported by social media campaigns and aligned with a range of practical options enabled by its stores and malls.
It widened the diverse range of essential and nonessential products available online through its retail e-commerce site, ShopSM on top of the SM STORE’s Call to Deliver service.
SM also empowered people whose jobs were affected by the pandemic to participate as delivery drivers and personal shoppers.
In 2020, SM Markets launched smmarkets.ph to provide more convenient options for pick-up or delivery for customers’ essential needs.
WalterMart grew its online grocery format and recently adopted the SM STORE’s strategy of Call/Text and Pickup, making its business more agile.
The malls introduced its newest shopping platform, SM Malls Online, available in three of its biggest malls.
SM’s two logistics companies in the group, 2GO and Airspeed, played important roles in fulfilling the requirements of these online platforms.
“In the foreseeable future, in-person and in-store based shopping experiences will still be preferred by our customers. But we continue to work hard to develop innovative online and offline delivery channels that are integrated into our business while enhancing customer service,” Mr. DyBuncio said.
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
For further inquiries, please contact:
VP, Planning and Corporate Communications
SM Investments Corporation
Tel. No. (632) 8857-0100