SM Investments, a holding company controlled by Philippines' powerful Sy family, plans to spin off its malls in China into a real estate investment trust or public offering, once it has built up a big enough portfolio.
“The long-term plan is that as soon as we have enough malls, then we can separately list the China malls, either in Hong Kong or Singapore,” Jose Sio, chief finance officer of SM, told FinanceAsia in an interview held at Mall of Asia Complex, a huge SM shopping complex in Manila.
However, firstly it will have to build up a critical mass. SM Investments - which is listed...
¬ Haymarket Media Limited. All rights reserved.
