THE SY FAMILY’S listed conglomerate SM Investments Corp. (SMIC) said it’s confident it might probably sustain stable business performance, driven by strong consumer spending, despite market volatility and global trade uncertainties brought on by the US government’s reciprocal tariffs.
“Consumption accounts for over 70% of gross domestic product (GDP), while exports of products account for under about 15–16%, and manufacturing accounts for lower than 30%. This structure gives us a certain quantity of protection. We’re less vulnerable,” SMIC Chairman Amando M. Tetangco, Jr. said throughout the company’s annual stockholders’ meeting in Pasay City on Wednesday.
“We could also be less open than other countries. But on this current environment, it provides us some insulation from potential hostile effects from external developments,” he added.
SMIC President and Chief Executive Officer Frederic C. DyBuncio said throughout the meeting that easing inflation and a sturdy economy would create latest opportunities.
“Our concentrate on consumer growth mirrors the over 70% of GDP driven by consumer spending. We’re a powerful group with leading businesses, a trusted brand and heritage, with a really conservative balance sheet, and we’ve world-regarded leadership,” he said.
“Our geographic expansion strategy — serving more communities and customers — follows the expansion of the country,” he added.
For 2025, SMIC is allocating P115 billion for capital expenditures, higher than the P100-billion capex spent last 12 months. SMIC’s core business interests are in retail, banking, and property.
Within the renewable energy segment, Mr. DyBuncio said SMIC, through subsidiary Philippine Geothermal Production Co., Inc., has secured five latest concessions from the Department of Energy to grow its geothermal portfolio.
“We’re exploring each one in every of them. Nevertheless it takes time to have the option to drill and have the option to make things commercially viable. We actually purchased our own drilling rig, which arrived last September. We bought the rig from Houston,” he said.
“We are going to proceed to drill and really explore geothermal fields to have the option to assist the country’s renewable drive,” he added.
Meanwhile, SMIC shareholders elected seasoned executive Marife B. Zamora as an independent director on Wednesday. She replaced Tomasa H. Lipana, who accomplished her maximum term as an independent director.
Ms. Zamora is the second female independent director of SMIC, joining Lily K. Gruba.
“I’m truly honored to hitch SM’s board. SM mirrors the energy and growth journey of the Philippine economy. I stay up for contributing to a growing company deeply committed to independence and powerful corporate governance,” Ms. Zamora said.
Ms. Zamora has many years of leadership experience in telecommunications, insurance, and business process outsourcing.
She can also be a known advocate for girls in technology and leadership, serving on the Board of Trustees of the FTW (For The Women) Foundation and as co-founder of the Filipina CEO Circle, a network of ladies business leaders driving positive change.
SMIC shares rose by 1.75% or P15 to P870 per share on Wednesday. — Revin Mikhael D. Ochave
