SM Investments Corp., the holding company of the Sy family, will focus more on local expansion over the next five years, instead of bringing its investments abroad, a top executive said.
SMIC vice chairperson Tessie Sy-Coson said her company was looking forward to a blissful domestic expansion, in the medium term, with plans to develop another consumer-driven sector.
“All of us should look at Philippines first. And I don’t think President Trump’s campaign slogan of ‘America First’ will affect consumer companies like us. Maybe it will have an impact on the manufacturing sector, but his new policy will only have mild effect on us,” Sy-Coson told reporters Thursday night at the sidelines of the Asean Business Advisory Council welcome dinner at Conrad Hotel in Pasay City.
She said Trump’s policy of getting all American companies back to the US and making America the center of all businesses would not hinder the expansion plans of SM as a conglomerate. “What we are envisioning as a Philippine company is to be able to maximize the great potential of the Philippines. There is a great many opportunities here. So Philippines first, and after that we go Asean,” she said.
