SM Prime marks 30th anniversary with record-breaking income, PHP 100 billion investment for 2024

SM Prime marks 30th anniversary with record-breaking income, PHP 100 billion investment for 2024

Thursday, April 25, 2024

SM Prime’s (L-R): Assistant Corporate Secretary Arthur Sy, Corporate Secretary Atty. Elmer Serrano, Chief Finance Officer and Chief Compliance Officer John Nai Peng Ong, President Jeffrey Lim, Independent Director Atty. Darlene Marie Berberabe, Chairman of the Board Henry Sy Jr., Vice Chairman and Lead Independent Director Amando Tetangco Jr., Non-Executive Director Herbert Sy, Chairman of the Executive Committee Hans Sy, and Non-Executive Director Jorge Mendiola

SM Prime Holdings, Inc. (SMPH), the leading integrated property developer in the Philippines, marks its 30th anniversary as a publicly listed company with the announcement of its highest-ever recorded income and a ₱100 billion investment for its partners, stakeholders, and communities they operate in. With eyes set on the future, SM Prime reaffirms its position as a catalyst for economic development and community advancement.

Record-Breaking Performance

From Left to Right, Top to Bottom: Lanson Place, SM Development Corporation (SMDC) Turf Residences, SM City Yangzhou in China, SM Mega Tower, SM Mall of Asia Complex, and SM City North EDSA

During the Annual Stockholders’ Meeting held on April 23, 2024, SM Prime announced its highest-ever recorded income, reaching PHP40 billion in consolidated net income, marking a 33% increase from 2022. Additionally, the company's revenues surged by 21%, soaring to PHP128.1 billion, a notable growth from the previous year. The consolidated operating income also saw significant growth, rising by 24% to PHP61.3 billion.

The outstanding performance can be attributed to SM Prime's mall business, driving 56% of consolidated revenues and a 30% growth to PHP71.9 billion in 2023. This growth was bolstered by a 24% increase in mall rental income, amounting to PHP61.3 billion. Moreover, the opening of four new malls in 2023 expanded SM's retail presence to 85 malls in the Philippines and 8 malls in China.

Meanwhile, SM Prime's residential business group, led by SM Development Corporation (SMDC), recorded an 8% growth in revenues to PHP43.1 billion in 2023. The residential group's gross profit rose by 15% to PHP25.4 billion, with reservation sales standing at PHP102 billion.

In addition to its mall and residential businesses, SM Prime's other key segments, comprising offices, hotels, and convention centers, contributed 10% of consolidated revenues, reported PHP13.1 billion in revenues in 2023, marking a remarkable 26% increase from the previous year. 

Commitment to Shared Growth

4 New SM Malls in 2024: SM City Caloocan, SM City J Mall, SM City Laoag, and SM City La Union

At the core of SM Prime's success is its unwavering commitment to shared prosperity in every city where they are present. With a strategic ₱100 billion investment capital expenditure in 2024, SM Prime aims to reinvest in its partners, stakeholders, and communities. 

SM Prime aims to continuously expand and develop new places for every Filipino to enjoy. 60% will be dedicated to enhancing its malls, development of new residential properties under SMDC, and construction of new hotels and convention centers. 40% will be directed towards acquiring new properties and coastal developments to pave the way for modern, eco-friendly urbanization.

Commitment to Environmental Sustainability and Disaster Resilience 

From Left to Right, Top to Bottom: SM Foundation’s Grow Trees Community Program, SM Cares’ Bike-Friendly Program, ARISE Philippines Chairperson Mr. Hans Sy and Members, SM Supermalls x Bureau of Fire Protection’s (BFP) Nationwide Simultaneous Fire Drill, SM Supermalls’ Electric Vehicle (EV) Charging Stations, and SM Prime’s Solar Rooftop Project

SM Prime has always been committed towards creating a sustainable future. SM Prime continues to work towards its goal of achieving Net Zero carbon emissions by 2040, aligning with the Department of Energy's target of reaching a 35% renewable energy share by 2030. Through partnerships with renewable energy suppliers and organizations like the World Wildlife Fund for Nature (WWF), SM Prime endeavors to reduce its environmental footprint and advocate for sustainable practices in all areas of its operations.

SM Supermalls' SM Cares and SMDC's The Good Guys also remain actively engaged in various community initiatives, such as conducting community disaster preparedness programs, providing support programs for senior citizens and persons with disabilities, and promoting job generation and entrepreneurship through nationwide job fairs and MSME programs. Other initiatives include coastal clean-ups, the donation of school buildings and fire trucks, and the organization of eco-camps for youth. 

Jeffrey C. Lim, President of SM Prime Holdings shared, “At SM Prime, we're not just building spaces; we're cultivating lifetimes of progress and shared growth. Our commitment lies in empowering Filipinos to thrive within their neighborhoods, whether through convenient shopping experiences at SM Supermalls, quality living in SMDC homes, or fulfilling work environments in our office properties. We believe that individual success fuels community prosperity, creating opportunities, and driving the nation's growth for many years to come.”

SM Prime remains committed to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities, thereby enriching the quality of life of millions of people. For more information, visit www.smprime.com.

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Schneider Electric partners with NVIDIA to maximize AI in optimizing performance, scalability and energy efficiency of data centers

Schneider Electric partners with NVIDIA to maximize AI in optimizing performance, scalability and energy efficiency of data centers

Schneider Electric, a global leader in energy management and digital automation, partners with artificial intelligence (AI) computing company NVIDIA to optimize data center energy efficiency using AI. 

The partnership will introduce the world’s first publicly available AI data center reference designs. These designs will integrate Schneider Electric’s expertise in digital infrastructures with NVIDIA’s AI technologies, setting new standards for AI deployment and operations within data center ecosystems to drive efficiency and reduce greenhouse gas (GHG) emissions.

Pankaj Sharma, Executive Vice President of the Secure Power Division & Data Center Business at Schneider Electric, highlighted the significance of this partnership: "By combining our expertise in data center solutions with NVIDIA's leadership in AI technologies, we’re not just overcoming infrastructure limitations; we’re unlocking the full potential of AI.”

“This collaboration is a leap forward towards a more efficient, sustainable, and transformative future, powered by AI," Sharma added as he stressed that the data center industry continues to evolve, which calls for a stronger focus on integrating AI technologies to their operations and addressing Scope 3 emissions to achieve net-zero emissions. 

Scope 3 emissions account for about 50% of data centers’ GHG footprint. According to GHG Protocol and ISO 14064, Scope 3 emissions are indirect emissions attributed to the activities of companies which include business travel, waste management, and value chain operations. This type of emission is often not reported and is more challenging to measure compared to Scope 1 and 2 emissions. 

These indirect emissions are major but often overlooked drivers of environmental impact of data centers. As a response, Schneider Electric is advocating for a holistic approach to GHG management, which includes accurate carbon accounting, target-setting, and a systematic review of data and emission sources.

Schneider Electric offers data centers with accounting and reporting solutions to address their Scope 3 emissions. This includes a tool to simulate energy use to estimate GHG emissions, considering power consumption, cooling systems, and operational efficiency of the data center. 

“This approach aligns with our commitment in leading the charge to equip critical and energy-intensive industries such as data centers with advanced solutions to help them achieve better operational efficiency all while minimizing their carbon emissions beyond traditional means,” said Abraham Lim, Secure Power and Industrial Automation BVP of Schneider Electric Philippines. 

Schneider Electric remains committed to pursue the digital transformation of industries to keep pace with technological advancements and ensure environmental sustainability globally. 

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Youth participation key to addressing climate change issues – ChildFund Philippines

Youth participation key to addressing climate change issues – ChildFund Philippines

ChildFund Philippines supports youth in Infanta, Quezon through a climate action program called Project GREENLIGHT. This initiative aims to help address climate change issues and mitigate climate-induced disaster risks, underscoring the central role of youth in driving climate action within their community. 

Project GREENLIGHT, in partnership with the municipal government of Infanta and ReINa Federations of Parents Associations, Inc., integrates Ecosystem-Based Adaptation (EbA) and Nature-Based Solutions (NbS) into the Disaster Risk Reduction and Management (DRRM) program of Infanta, Quezon. 

Project GREENLIGHT represents a comprehensive approach to climate action, acknowledging that climate change is a complex and interconnected issue. “It integrates education, community engagement, and sustainable livelihood development to help the next generation of local eco-leaders combat climate change, especially since the Philippines is prone to various climate hazards and risks due to its geographical location and human activities,” said Erwin Peter Galido, Program Specialist - Disaster Risk Management of ChildFund Philippines. “Our ultimate goal for this project is to eventually make this a national program and support more Filipino youth taking action to mitigate climate change impacts,” he added. 

The initiative employs a classroom-to-forest approach to support the youth in taking an active role in environmental protection and conservation, efficient energy consumption, waste management, awareness raising, local policy advocacy, and climate action. It involves taking students out of traditional classroom settings and into natural environments, such as forests, wetlands, or parks, to learn about environmental concepts, ecological systems, and conservation practices firsthand. 

"We believe in the power of these young individuals to make a meaningful difference in their communities and beyond. With Project GREENLIGHT, we aim to work hand-in-hand with them to actively contribute as catalysts for climate action, particularly in communities vulnerable to the impacts of disasters, and for a more sustainable and eco-friendly world,” said Anand Vishwakarma, CEO & Country Director of ChildFund Philippines. 

Youth leaders and advocates in the program, called Eco-scouts, highlight the importance of youth engagement in creating sustainable solutions to address climate change. 

“This immersive approach gives us a better understanding of why we need to combat climate change now more than ever,” said Ramiline Resplanador, one of the Eco-scouts. “Throughout the implementation, we are learning the impacts of deforestation and degradation on our community, and so we encourage other children to become better stewards of our planet,” she added. 

Lu By Ron Broto, another Eco-Scout, shared, “I apply what I learn from the project by encouraging my family to switch to more sustainable ways of living, including waste segregation, plant growing, and efficient energy consumption.” He added that the project also enhanced his leadership skills to educate more members of the community about climate change, helping them make conscious choices that have a positive impact on the environment. 

The project’s approaches and tools will enable individuals and communities to adapt to the challenges of climate change while simultaneously promoting sustainable development. This includes the promotion of climate-smart agricultural practices, green jobs and livelihoods (e.g., zero waste stores), and renewable energy, among others.

ReINa Federation and the government of Infanta, Quezon have been integral partners in the pilot implementation of the program, demonstrating a commitment to building climate resilience in Infanta, Quezon which is prone to natural disasters because of its diverse landscape. 

The government of Infanta emphasizes that climate awareness should lead to action. "It is imperative to get commitments on the ground and to act with more urgency. By thinking globally and acting locally to adapt to our community’s needs, we can effectively utilize our resources to mitigate climate change impacts,” said Ron Pallugna Crisostomo, Municipal Government Department Head I - Local Disaster Risk Reduction Management Officer of Infanta, Quezon. 

ChildFund Philippines encourages more multi-sectoral collaborations with corporate institutions, non-government organizations, and other stakeholders to expand Project GREENLIGHT's implementation to other communities across other parts of the country.

For more information on how to get involved, visit https://childfund.org.ph/get-involved/.

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Caltex Inks Deal with Aktor, Provide Fuel Support to its Organization Members

Caltex Inks Deal with Aktor, Provide Fuel Support to its Organization Members

Caltex, marketed by Chevron Philippines Inc. (CPI) signed a partnership with Aktor to provide Caltex Saveplus cards to its members. (From left to right: Roel Faustino, Fuel Retails Manager CPI; Billy Liu, Country Chairman CPI; Dingdong Dantes, Chairman of the Board of Aktor and Iza Calzado, Board of Director of Aktor.)

Caltex, marketed by Chevron Philippines Inc. (CPI), recently partnered with Aktor -, a nonprofit, non-stock organization of Filipino actors and actresses in film, TV and the theater industry. The organization offers projects and activities related to education, mental health, and regional outreach programs for their member’s welfare.

Through Caltex’s partnership, Aktor members will receive Caltex SavePlus cards, which will allow Aktor members to unlock offers and discounts with their fuel purchases and earn Caltex Rewards points as well. 

“Being in the entertainment, film, theater, and TV industry also means always being on the road and on the go. It is very essential for us to have reliable transportation. With this partnership, we also want to ensure our Aktor members can focus on their craft without worrying about fueling up and making their journeys an enjoyable part of their work and that is why we believe the Caltex’s support through the Caltex SavePlus cards will be a big help to our organization. On behalf of Aktor, I would like to extend our heartfelt gratitude to the Caltex team for their trust and support. This partnership is just the beginning, and we look forward to exploring new opportunities for collaboration and innovation in the months and years to come,” said Dingdong Dantes.

“Caltex strives to serve the Filipino people by forging partnerships that help make its products and services more accessible to different areas and industries in the country. With its partnership with Aktor, Caltex diversifies its partners and proves that it does not just limit itself to the confines of its own industry. We will continue to partner with organizations that share the same values as ours.” said Billy Liu, CPI country chairman.

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Pru Life UK’s newest product guarantees 4% annual cash payout for 7 years

Pru Life UK’s newest product guarantees 4% annual cash payout for 7 years

Monday, April 22, 2024

 

Customers also get 100% cash back and up to 125% coverage with PRULove Wealth

Leading life insurer Pru Life UK launches a new product designed to provide Filipinos life insurance coverage while also allowing them to earn returns with rates comparable with those from a high-yielding time deposit. PRULove Wealth uniquely offers 4% annual cash payout, 100% cash back, and up to 125% insurance coverage.* 

Regardless of market conditions, customers can rely on a guaranteed 4% annual payout based on the single premium paid. PRULove Wealth complements their traditional bank deposit and fixed income-generating financial assets. The steady earnings assure them and their families cash to celebrate life's milestones, boost personal savings, and provide an extra layer of financial cushion. 

Customers’ principal money is secured with 100% cash back guarantee or return of the premium paid if the insured is still around after the 7-year insurance coverage period or maturity of the policy. The cash back gives comfort to families of a stable financial future. 

The life insurance coverage of up to 125% based on the single premium gives the customers wealth protection for their families. Whatever happens to the insured, the beneficiary gets the whole proceeds up to 25% higher than the principal.* 

"PRULove Wealth solidifies our unwavering commitment to being the Filipino families' most trusted partners and protectors by providing financial solutions that address their evolving needs. With the guaranteed benefits of our new product, we aim to help more customers achieve financial protection and their wealth aspirations,” shares Allan Tumbaga, Executive Vice President and Chief Customer & Marketing Officer. 

PRULove Wealth can help customers who want a convenient one-time pay life insurance product that reaps an uninterrupted flow of cash and secured legacy without worrying about market volatility. 

Pru Life UK maintains its industry's top position in New Business Annual Premium Equivalent & total Premium Income from Variable Life Insurance products according to the Insurance Commission’s Life Insurance Sector Quarterly Statistics for Q3 2023. 

Its wide range of products is accessible through its over 42,000 digitally-empowered agency force and like-minded ecosystems and digital partners. 

To know more about PRULove Wealth, talk to a Pru Life UK agent today or visit www.prulifeuk.com.ph.

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FWD Life Insurance ranked top 3 life insurer in 2023

FWD Life Insurance ranked top 3 life insurer in 2023

Sunday, April 21, 2024

FWD Life Insurance (FWD Philippines) soars as the top 3 life insurer in the Philippines in less than 10 years, as indicated in the Insurance Commission’s (IC) full-year 2023 report on New Business Annual Premium Equivalent (NBAPE).

NBAPE, a global standard adopted by the IC, measures the life insurance industry’s sales performance in a specific year by summing the payment methods used in the industry–regular and single premiums. With a recorded total NBAPE of Php4.59B, FWD Philippines climbs from sixth in 2022 to third rank in just one year, solidifying its position as one of the fastest-growing insurance companies in the country.

“As the insurer of the next generation, this achievement underscores our commitment to nation-building and protecting more Filipinos. This is a testament to how we are changing the way people feel about insurance, especially in the Philippines where the insurance penetration rate is at less than 2%,” shared FWD Philippines CEO and President, Antonio Manuel “Jumbing” De Rosas. “Thank you to our employees, partners, financial advisors, and distribution leaders for their commitment in empowering more Filipinos to celebrate living. Most especially to our customers, for their unwavering confidence and trust in FWD,” he adds.

This milestone coincides with FWD Philippines’ 10th anniversary since establishing roots in the country in 2014, and is attributed to the company’s customer-led and digitally enabled approach to deliver innovative, inclusive, and people-centric solutions that cater to the ever-growing needs of Filipinos. 

Innovating insurance and customer experience

FWD Philippines was hailed as #1 for customer experience among insurers according to KPMG’s Global Customer Experience Excellence Report 2023, further fortifying its thrust as the insurer of the next generation.

Enhanced customer experience initiatives were set in place, such as the first-in-the-industry 24/7 customer support hotline, which provides easily accessible channels for customers. FWD Philippines also introduced digital innovations like Omne by FWD, a 2-in-1 supercharged application with features that help customers build micro-habits and manage their policies. Additionally, the insurer adapted AI tools such as its chatbot Fi, which is now integrated with People Like You, an advanced tool that employs data analytics to recommend insurance solutions for customers. 

FWD Philippines also secured the No. 2 spot in the Million Dollar Round Table (MDRT) rankings among local insurance companies, a testament to its dedication to providing best-in-class customer experience and nurturing the next-generation of financial advisors. Alongside this achievement, the company also continues to bolster its nationwide presence by expanding of its distribution network and forging significant partnerships, exemplified by its recent collaboration with the country’s leading mobile wallet, GCash.

Moreover, FWD Philippines has innovated more inclusive and relevant insurance products such as The One for gamers and The One for music lovers, which are both designed to support and protect the next generation’s different passion points.

With technology and innovation at its forefront, FWD Philippines is geared up in strengthening its unparalleled commitment to nation-building and in changing the way people feel about insurance.

Learn more about FWD’s innovative products, services, and programs by visiting fwd.com.ph.

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PLDT, Smart block more than 13 million SMShing messages to combat ‘hijack profile’ incidents

PLDT, Smart block more than 13 million SMShing messages to combat ‘hijack profile’ incidents

PLDT’s wireless unit, Smart Communications, Inc. (Smart), has blocked more than 13 million SMShing messages in the first quarter of the year. It has also blacklisted almost 200,000 mobile numbers involved in phishing activities as the Philippine National Police (PNP) raised the alarm on ‘hijack profile’ cases.

“Data is the new oil. Cyber criminals steal personal information to defraud you or use your identity to victimize people close to you. Guard your data. Don’t share it with people you don’t know,” reminded Joseph Ian Gendrano, Senior Vice President and Chief Information Security Officer at PLDT and Smart.

‘Hijack profile’ happens when a hacker gains unauthorized access to someone’s social media account. In some cases, the victims are locked out of their own account. The offender then messages the victims’ contacts to ask for money, usually under the guise of a sickness or an unfortunate life event.

To further keep customers safe from fraudulent activities, Smart is reminding the public to be wary of clicking dubious links on SMS or emails from unknown persons

During the #CyberSmart event at Jose Rizal University in Mandaluyong, Elijah Mendoza, Digital Communications Senior Manager at Smart, emphasized mindfulness when traversing cyber space and reading text messages.

“Phishing is the most common technique employed by bad actors to trick you into revealing your data. Don’t go on autopilot mode and click or tap links,” said Mendoza.

To avoid getting baited by phishing messages, remember the following:

1. Don’t open suspicious emails or links. Remember what our parents used to say about not talking to strangers? It’s the same with unfamiliar senders or callers.

2. Don’t log in to unfamiliar websites. Look at the address bar. Make sure you are opening the legitimate website.

3. Brush up on grammar and branding knowledge. Phishing messages are often composed of ill-formed sentences with bad grammar. Malicious websites often use low-resolution photos to mimic the page they’re copying.

The efforts of PLDT and Smart to share CyberSmart tips are rooted in their customer-centric culture where they aim to elevate the quality of customer experience by protecting them from threats and cyber-attacks.

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