THE PHILIPPINES IS NOT FOR SALE TO CHINA THRU SM CORPORATION
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PHILIPPINE retail giant SM plans to make a bigger presence in the huge Chinese market, said SM Prime Holdings Inc. president Hans Sy.
PHILIPPINES IS NOT FOR SALE TO CHINA THRU SM CORPORATION![jjhboard/i18[1].gif](http://jjhboard.3.forumer.com/html/emoticons/jjhboard/i18%5B1%5D.gif)
Among the Chinese cities that will soon have SM presence are Suzhou, Chonging and Zibo. Xiamen, Jinjiang in southern China and Chengdu in central China are the cities where SM is currently operating.
Sy added that SM Prime wants to concentrate on China because of the huge volume of consumers that can be tapped for its retail products. “This is also in preparation for SM because we project that the Philippine market will be saturated in five years,” he pointed out.“China is a significant market for SM Prime,” added Sy.
Earlier, SM Prime reported a consolidated net income of P6.4 billion in 2008 from P6 billion the year before. Revenues, on the other hand, grew 12 percent to P17.8 billion. These results included the operations of the three SM malls in China, following their acquisition in late 2007. The SM China malls are in the cities of Xiamen and Jinjiang in Southern China, and Chengdu in Central China -
WHY WOULD THEY SELL OUR COUNTRY TO CHINA???
WE SHOULD ASK IF SOME BUSINESSMEN PLAN TO SELL THIS GREAT COUNTRY TO CHINA
USING THE SM CORPORATION BASED IN CHINA TO CONTROL THE PHILIPPINE ECONOMY…
Opening Date: Oct. 20,2006 Gross Floor Area: 176,000 square meters Address: SM City(CHENGDU)NO.29,Section.2 of 2nd Ring Road, Chengdu, Sichuan, China. Contact Info: 86-28-84315533 Fax： 86-595-88150801 Postalcode: 610081