Latest news with #Sy
GMA Network
2 days ago
- Business
- GMA Network
BDO nets P40.6B in H1 2025, up 3%
Sy family's banking giant BDO Unibank Inc. posted a net income of P40.6 billion in the first six months of 2025 on the back of strong performance of its core businesses. In a statement on Monday, BDO said its first half net income grew by 3% from P39.4 billion in the same period last year. The bank said its bottom line growth was tempered by the continuing investments in market coverage and IT spending for operational efficiency. BDO reported its net interest income rose by 7% as gross customer loans climbed by 14% to P3.4 trillion, 'with broad-based growth across all market segments.' Meanwhile, deposits widened by 8% to hit P4 trillion, with a Current Account/Savings Account (CASA) ratio of 69%. The bank added its non-interest income, likewise, grew by 15%, driven by the significant contributions from fee-based income and income from insurance operations. The Sy-led lender said it is set to issue its fourth ASEAN Sustainability Bonds on July 29, 2025 with a minimum aggregate issue size of P5 billion. 'Originally set to run from July 9 to 22, 2025, the strong demand from both retail and institutional investors prompted the early closing of the offer on July 14, 2025,' it said. 'The net proceeds will be used to finance and/or refinance eligible projects and further support the growth of the Bank's sustainable portfolio,' it added. Amid global uncertainties arising from geopolitical tensions and the imposition of US tariffs, BDO said that the Philippines is expected to remain resilient, supported by its consumer-driven economy and sustained domestic demand. 'Likewise, the bank remains well-positioned to manage emerging risks and capitalize on opportunities given its robust capital base and diversified business franchise,' the lender said. —VAL GMA Integrated News
United News of India
16-07-2025
- Politics
- United News of India
3 dead, 7 injured as passenger bus targeted in Balochistan
World Kalat, July 16 (UNI) At least three people were killed and seven others sustained injuries after unidentified assailants opened gunfire on a passenger coach travelling from Karachi to Quetta near a checkpost in Balochistan's Kalat, police said on Wednesday. This is the second such attack in less than a week in the restive province, which has witnessed a deadly year with scores of fatalities due to terrorist attacks, Geo news reported. The attack occurred when the bus approached Nemargh Cross near Kalat district. The assailants, who were waiting on top of nearby mountains, first opened fire and then hurled hand grenades at the vehicle, as per reports. The vehicles that run on this route carry approximately 40 to 50 passengers. However, the exact number of passengers on board the targeted bus remains unknown. Balochistan government spokesperson, Shahid Rind noted that security agencies, district authorities, and rescue teams reached the scene immediately. The wounded were transferred to the Qalat DHQ Hospital, where an emergency has been declared. Security forces cordoned off the area and launched a search operation to pursue the assailants, Rind said, adding that the attackers are still at large. "Initial reports suggest that the attackers were waiting to strike. They closed the street from both sides," he added. Meanwhile, Prime Minister Shehbaz Sharif has strongly condemned the terrorist incident, which he said was carried out by the Fitna al Hindustan — a term used for terrorist organisations in Balochistan. The PM also directed authorities to provide immediate medical assistance to the injured. UNI XC GNK More News Russian Secretary of Security Council Sergei Shoigu calls NATO one of Moscow's biggest national security threats 16 Jul 2025 | 10:56 PM Moscow, July 16 (UNI) Russian Security Council Secretary, Sergey Shoigu, has called NATO one of Moscow's biggest 'national security' threats, citing the international alliance's decision to increase its overall defence spending to 5% of its GDP by 2035. see more.. Israeli official says peace agreement with Syria depends entirely on regime behaviour 16 Jul 2025 | 10:07 PM Tel Aviv/Damascus, July 16 (UNI) Shortly after Israel's attacks on Syria due to violence against the indigenous Druze community, and the US bid for calm, Tel Aviv has put the onus of reaching peace on Damascus, with a senior official stating that any kind of peace agreement with the new Syrian administration 'depends on how the regime behaves.' 'Everything depends on how this regime behaves. There's no doubt things have taken a negative turn in the past few days, after a brief period of calm. But we're not deluding ourselves,' said the official, reports Times of Israel. see more.. IDF says it will continue its attacks on Syria despite US appeal to stand down 16 Jul 2025 | 9:38 PM Tel Aviv/Damascus, July 16 (UNI) Amid Israeli military's direct attack on Syria's Defence Ministry and Presidential Palace due to violence against Syria's ethnic Druze community, the IDF has announced its intention to continue despite appeals from US President Donald Trump and Secretary of Star Marco Rubio to cease its bombardment. see more.. Iranian Supreme Leader Khamenei says Israel launched the war to overthrow him 16 Jul 2025 | 8:47 PM Tehran, July 16 (UNI) Iranian Supreme Leader Ayatollah Ali Khamenei has claimed that Israael launched the recent 12-day war specifically to sow unrest in his country and uproot the socio-political system in the Islamic Republic, media reports said today. see more..
GMA Network
27-06-2025
- Business
- GMA Network
SM hospitality arm earmarks P5.3 billion for 5-year MICE expansion
SM Hotels and Convention Corp. (SMHCC), the hospitality arm of Sy-led property giant SM Prime Holdings Inc., is embarking on an expansion initiative for its meetings, incentives, conferences, and exhibitions (MICE) footprint. In a statement, SM Prime said SMHCC has set aside a P5.3-billion investment to ramp up its MICE portfolio over the next five years. The Sy family's property developer said its hospitality arm's expansion will begin with two major developments in Cebu and Pasay. SM Prime said the SMX Convention Center Seaside Cebu is set to open in the third quarter of 2026. SMX Cebu is poised to be one of the largest and most modern convention venues in the Visayas. The convention center in the "Queen City of the South" will have 21,000 square meters of leasable space across six levels, directly integrated with the SM Seaside Arena and SM Seaside Cebu Mall. SMHCC also broke ground on SMXCITE at the Mall of Asia Complex in Pasay City last April. SMXCITE, set to open in the first quarter of 2027, is seen to add 18,000 square meters of leasable space to the existing 17,000 square meters at SMX Manila, enabling SMHCC to accommodate large-scale, concurrent events. "Our expansion into Cebu and Pasay reflects our strong belief in the potential of these cities. By building next-generation venues with scale and flexibility, we are enabling more communities to benefit from the business and tourism opportunities that MICE events bring," said SMHCC executive vice president Peggy Angeles. These projects are part of SMHCC's broader strategy to grow its events portfolio outside Metro Manila and support economic activity in emerging urban centers, according to SM Prime. The Sy-led property developer said each SMX venue is co-located with hotels, malls and transport infrastructure to provide seamless access for organizers and guests. — VDV, GMA Integrated News
GMA Network
16-06-2025
- Business
- GMA Network
SM Prime's Hans Sy champions private sector leadership in disaster resilience at UNDRR Global Platform 2025
Hans Sy speaking in the 8th Session of the Global Platform for Disaster Risk Reduction (GP2025), organized by the UN Office for Disaster Risk Reduction (UNDRR) and co-chaired by the Government of Switzerland. Photo from Antoine Tardy for the UNDRR. SM Prime Holdings, Inc. (SM Prime) Executive Committee Chairman Hans Sy reaffirmed the vital role of the private sector in disaster risk reduction (DRR) during the 2025 Global Platform of the United Nations Office for Disaster Risk Reduction (UNDRR), held in Geneva, Switzerland. Representing the Philippine private sector at the Ministerial Roundtable on 'Accelerating Financing and Resilience,' Sy underscored how businesses can help drive scalable, science-based resilience solutions. Private sector as a force multiplier in DRR 'Resilience strengthens businesses while safeguarding lives and communities,' Sy stated. 'We know the government cannot do it alone. The private sector is ready to do more.' Sy underscores the need for policies, incentives, and institutional support to scale up disaster risk reduction investments at the UNDRR Global Platform 2025. He cited SM Prime's integrated approach to DRR, which includes allocating a significant portion of project costs to disaster-resilient infrastructure and applying science-driven planning frameworks. Sy also pointed to cross-sector initiatives such as the Adopt-a-City Program with the National Resilience Council and joint capacity-building programs with ARISE Philippines and the Department of Trade and Industry as examples of effective public-private partnerships. Embedding resilience into core business strategy In a High-Level Dialogue on scaling DRR financing, Sy outlined SM Prime's approach to mainstreaming resilience across its developments. He highlighted features such as elevated mall structures, built-in rainwater catchment systems, and earthquake-resistant designs—solutions that have minimized disruption and enabled rapid recovery in the face of disaster. The SM Mall of Asia Complex features a higher seawall and elevated design to guard against rising sea levels. (Inset) Deep, wide drainage channels—large enough to fit two buses side by side—further protect the area from storm surge flooding. Call to scale resilience investment To expand DRR financing, Sy called for enabling mechanisms that combine policy support, institutional cooperation, and targeted incentives. 'From the standpoint of the private sector, financial, non-financial and regulatory incentives are among the most effective ways to accelerate investment in resilience,' he noted. His remarks underscored the importance of collaboration, innovation, and long-term thinking in building resilient communities. SM Prime's leadership in DRR continues to set a benchmark for sustainable development in disaster-prone regions. 'Together, we can embed resilience to build a sustainable and secure future for all,' he concluded. The article above is a sponsored press release from SM Prime Holdings.
GMA Network
28-05-2025
- Business
- GMA Network
SM Prime to open first mall in Ilocos Norte on May 30
Sy family's property giant SM Prime Holdings Inc. on Wednesday announced it would be opening its first mall in Ilocos Norte on May 30. In a news release, SM Prime said SM City Laoag would be its 88th shopping mall in the Philippines. The new mall is located along Airport Road, just minutes from the city center and near Laoag International Airport. SM Prime said the three-level SM City Laoag offers over 51,000 square meters of gross leasable space. It added that the new shopping mall would open with 90% of its space already lease-awarded. The mall is also expected to generate approximately 4,000 jobs for Ilocanos across retail, operations, and support services. 'The opening of SM City Laoag reinforces our commitment to bring modern, accessible, and community-oriented retail experiences to underserved but fast-growing areas,' said SM Prime president Jeffrey Lim. 'We're excited to support the region's economic momentum,' he said. SM Prime said it is also studying a complementary hotel development in Laoag to tap into the area's growing tourism and MICE (meetings, incentives, conferences, and exhibitions) potential, expanding its footprint beyond retail in Northern Luzon. — VBL, GMA Integrated News
