Latest news with #FredericDyBuncio
GMA Network
06-08-2025
- Business
- GMA Network
SM's Belle Corp. pauses online gaming push
Belle Corp., a subsidiary of SM Investments Corp. (SMIC), has paused its prospects of entering online gaming, as it said it is now on a wait-and-see stance as lawmakers take on proposals to either impose stricter regulations or ban the industry as a whole. According to SMIC president and chief executive officer Frederic DyBuncio, Belle already has an internet gaming license (IGL) as part of its physical license, which it is considering given the boost in online gaming. 'Right now we are thinking of setting up our own online gaming, but we put that on a bit of a pause to see what happens with the regulations, but we're hopeful that the regulations will help us, moving forward, and go back to the physical gaming,' he told reporters in Pasay City. 'We do have IGL license as part of our physical license, and that's something which we are looking at. We wanted to wait and see first how the regulations will affect us,' he added. This comes as a number of lawmakers have pushed for a ban given concerns that addiction is soaring, with more gamblers drawn to online, even accelerated further by advertisements on social media and e-wallet platforms. Several lawmakers have also proposed stricter regulations for online gambling, as they said a total ban would only lead to the public heading to illegal operations. The Department of Health (DOH) has flagged online gambling as a health issue, with President Ferdinand 'Bongbong' Marcos Jr. saying he will study calls to ban the industry. Belle Corp. is engaged in the property development, primarily in the high-end leisure market, and holds various investment holdings including the development of an integrated gaming resort, the City of Dreams Manila Entertainment Complex, and the Tagaytay Highlands residential and mixed-use mountain resort. 'Belle is kinda affected by the online gaming. The revenues of Belle is actually back to the pre-pandemic level. It hasn't grown as fast, obviously, you know, as the online gaming, but we will see what happens to the regulation when that changes,' DyBuncio said. Belle Corp.'s first-half consolidated net income stood at P801 million, down 9% from P882.4 million, as consolidated revenues stood by 10% to P2.474 billion from P2.752 billion last year. Its gaming revenue share for the second quarter fell 18% to P772.3 million from P943 million the same quarter last year. DyBuncio said the company is also awaiting guidance from the Philippine Amusement and Gaming Corp. (PAGCOR) regarding the second casino resort it plans to operate in Clark, Pampanga. SMIC posted a 6% growth in its first-half net income to P42.6 billion, as consolidated revenues increased by 6% to P319.2 billion. Moving forward, DyBuncio said SMIC is optimistic that the company will post a stronger income for the second half, as seen historically. The company in April said it will focus on remaining agile this year, even as the country's fundamentals remain sound amid the ongoing global tensions brought about by the tariffs announced by US President Donald Trump. — RF, GMA Integrated News
Yahoo
29-06-2025
- Business
- Yahoo
SM: Enabling Resilient and Sustainable Development
PASAY CITY, Philippines, June 29, 2025 /PRNewswire/ -- In Southeast Asia's dynamic growth story, the Philippines emerges as a compelling chapter, buoyed by its young population, robust consumer market, and enduring economic resilience. SM Investments Corporation, the parent company of the SM group, remains optimistic about the Philippines' growth trajectory, actively supporting the nation's resilient economy. "We are encouraged by strong consumer confidence, and our businesses are well-positioned to serve in all categories," said Frederic C. DyBuncio, President and CEO of SM Investments. "Positive sentiment is supported by modest inflation and the resilience of Filipino communities." Global institutions view the Philippines as a "bright spot" in the region. With a thriving domestic market, strategic economic reforms, and increasing investor confidence, the country offers fertile ground for inclusive and sustainable growth. The country's growth strategy includes significant investments in human capital through enhanced education and robust job creation. The SM group is aligned through its educational institutions—Asia Pacific College and National University—and the extensive scholarship programs of SM Foundation, equipping a future-ready generation with relevant skills and opportunities. As part of its social investments, SM has granted over 16,000 scholarships across the group to date. In 2024, SM Foundation awarded more than 1,000 scholarships, marking the largest batch of recipients. Through its corporate foundation and other companies, the SM group also renovated 415 health centers, built 2,850 schools, and trained over 49,000 farmers to date, thus promoting access to quality education, well-being and helping attain food security. Micro, Small, and Medium Enterprises (MSMEs) form the backbone of the Philippine economy. SM actively nurtures a vast network of over 100,000 MSME tenants and suppliers across its expansive retail and property portfolio. SM's banking segments, BDO Unibank, Inc. and China Banking Corporation have provided PHP72 billion in loans to MSMEs. Such initiatives foster local entrepreneurship and contribute significantly to economic diversification. SM's dedication to business resilience extends to its partners that ultimately strengthens the entire ecosystem. A Business Continuity Planning (BCP) program was launched in 2024 for MSME mall tenants, providing capacity-building and secure digital storage for critical documents, ensuring operational continuity even in the face of disruptions. SM has long embedded disaster-resilient design into its property developments and invests in environmental infrastructure that helps mitigate risks. This proactive approach includes significant investments in infrastructure such as 41 water catchments and 108 water recycling facilities nationwide. Sustainability financing is also critical. The group's banking units has funded over PHP1 trillion projects under its Sustainable Energy Finance (SEF) program through BDO. China Bank has allocated PHP147 billion under its Sustainable Finance Portfolio, with products targeting renewable energy, clean transport, and green infrastructure. SM's retail segment offers green lifestyle choices with over 20,000 eco-friendly products under the Green Finds program. SM Stores implement energy-saving systems and eco-bag campaigns. Brands like Kultura champion local products – highlighting heritage, eco-friendliness, and social entrepreneurship, including upcycled goods and community-sourced crafts. "As SM continues to navigate the evolving business landscape, we ensure the group's advocacies uplift not just our company, but the lives and potential of the communities we operate in," Mr. DyBuncio said. "These initiatives support the current economic momentum while also contributing to a more resilient and future-proof Philippine economy for generations to come." View original content to download multimedia: SOURCE SM Investments Corporation Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-06-2025
- Business
- Yahoo
SM: Enabling Resilient and Sustainable Development
PASAY CITY, Philippines, June 29, 2025 /PRNewswire/ -- In Southeast Asia's dynamic growth story, the Philippines emerges as a compelling chapter, buoyed by its young population, robust consumer market, and enduring economic resilience. SM Investments Corporation, the parent company of the SM group, remains optimistic about the Philippines' growth trajectory, actively supporting the nation's resilient economy. "We are encouraged by strong consumer confidence, and our businesses are well-positioned to serve in all categories," said Frederic C. DyBuncio, President and CEO of SM Investments. "Positive sentiment is supported by modest inflation and the resilience of Filipino communities." Global institutions view the Philippines as a "bright spot" in the region. With a thriving domestic market, strategic economic reforms, and increasing investor confidence, the country offers fertile ground for inclusive and sustainable growth. The country's growth strategy includes significant investments in human capital through enhanced education and robust job creation. The SM group is aligned through its educational institutions—Asia Pacific College and National University—and the extensive scholarship programs of SM Foundation, equipping a future-ready generation with relevant skills and opportunities. As part of its social investments, SM has granted over 16,000 scholarships across the group to date. In 2024, SM Foundation awarded more than 1,000 scholarships, marking the largest batch of recipients. Through its corporate foundation and other companies, the SM group also renovated 415 health centers, built 2,850 schools, and trained over 49,000 farmers to date, thus promoting access to quality education, well-being and helping attain food security. Micro, Small, and Medium Enterprises (MSMEs) form the backbone of the Philippine economy. SM actively nurtures a vast network of over 100,000 MSME tenants and suppliers across its expansive retail and property portfolio. SM's banking segments, BDO Unibank, Inc. and China Banking Corporation have provided PHP72 billion in loans to MSMEs. Such initiatives foster local entrepreneurship and contribute significantly to economic diversification. SM's dedication to business resilience extends to its partners that ultimately strengthens the entire ecosystem. A Business Continuity Planning (BCP) program was launched in 2024 for MSME mall tenants, providing capacity-building and secure digital storage for critical documents, ensuring operational continuity even in the face of disruptions. SM has long embedded disaster-resilient design into its property developments and invests in environmental infrastructure that helps mitigate risks. This proactive approach includes significant investments in infrastructure such as 41 water catchments and 108 water recycling facilities nationwide. Sustainability financing is also critical. The group's banking units has funded over PHP1 trillion projects under its Sustainable Energy Finance (SEF) program through BDO. China Bank has allocated PHP147 billion under its Sustainable Finance Portfolio, with products targeting renewable energy, clean transport, and green infrastructure. SM's retail segment offers green lifestyle choices with over 20,000 eco-friendly products under the Green Finds program. SM Stores implement energy-saving systems and eco-bag campaigns. Brands like Kultura champion local products – highlighting heritage, eco-friendliness, and social entrepreneurship, including upcycled goods and community-sourced crafts. "As SM continues to navigate the evolving business landscape, we ensure the group's advocacies uplift not just our company, but the lives and potential of the communities we operate in," Mr. DyBuncio said. "These initiatives support the current economic momentum while also contributing to a more resilient and future-proof Philippine economy for generations to come." View original content to download multimedia: SOURCE SM Investments Corporation Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
