Conglomerate SM Investments Corp. is open to potential acquisitions and is looking for companies with high growth potentials, a top executive said Wednesday.
SM Investments president and chief executive Frederic DyBuncio said during the virtual annual stockholders’ meeting the company would proceed with expansion plans while maintaining a cautiously optimistic outlook amid the health crisis.
DyBuncio said the group would focus on innovation to continue to reach out to customers.
He said the company continued to look for acquisitions and was examining potential candidates with a strong balance sheet that could create long-term growth and cash flow for the company.
SM Investments earlier reported plans to increase its stake in logistics firm 2GO Group Inc. to 52.85 percent from 30.49 percent by acquiring the shares owned by Chelsea Logistics and Infrastructure Holdings Corp. This would make 2GO a subsidiary of SM Investments.
Meanwhile, the conglomerate said it made the health and safety of its stakeholders in the SM ecosystem the top priority by focusing on safety, innovation, and the collective resilience of partners and communities.
It said that to help with overall recovery efforts, it would roll out vaccination to thousands of employees across the group for free within the year once supply is available.
The conglomerate recently offered its facilities as vaccination venues nationwide for use by local governments in reaching as many citizens as possible.
Vaccination sites are located in SM malls in Pulilan, Olongapo, Marilao, Cabanatuan, Cauayan, Tuguegarao, Masinag, San Mateo, Paranaque, Muntinlupa, Antipolo, North EDSA, Taguig, Trece Martires, Rosario, Calamba, San Pablo, Lemery, Lipa, Cebu, Iloilo, Bacolod, Ormoc, Butuan and General Santos, with more to be added soon.
“These will help to build the confidence that our consumer-led economy urgently needs. The key is to continue to innovate and operate safely, which we have done and continue to do. We continue to respond and adapt to changing customer needs and touchpoints to serve our customers better,” DyBuncio said.