SM Group looking at Singapore for expansion

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SM Group looking at Singapore for expansion

Cathy Yang and Jessica Fenol,

ABS-CBN News

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MANILA - The SM group is looking at Singapore as the starting point for its Southeast Asian expansion, SM Investments vice chairperson Teresita Sy-Coson said Monday.

SM, which operates the Philippines' largest bank and shopping mall chain, might open in Singapore "soon," Sy-Coson said without elaborating.

"As soon as the Singapore government will give us a license, they have already approved provisionally so we're looking into the final approval," Sy-Coson said.

Southeast Asia, with its 600 million people, can help SM grow its businesses, she said.

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SM Prime Holdings, founded by the country's richest man, Henry Sy, has 65 malls in the Philippines and 8 others in China, according to its website.

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