SM Prime voted anew RP’s best managed firm

SM Prime Holdings, Inc., the country’s premier and leading shopping mall developer, was voted anew by investors worldwide the runaway winner as the Philippines’ "Overall Best Managed Company in 2001" and "Best Managed Company Over the Last 10 Years" among the country’s top companies. The blue chip company was also named number one in Corporate Governance, Corporate Strategy, Management of Financial Accounts, Treatment of Minority Shareholders, and Access to Senior Management.

The Best Managed Companies poll was undertaken by Asiamoney, the prestigious financial magazine based in Hong Kong and a subsidiary of Euromoney. The results were published in Asiamoney’s December 2001/January 2002 edition in an article titled "Slow and steady wins the race," detailing how "investors have applauded the region’s most stable companies" and why "it takes real quality of management to keep investors on your side when all around you is going horribly wrong."

A total of 277 respondents from 228 institutions consisted of fund managers, chief investment officers and heads of research at fund management firms, insurance companies and brokerage houses in the Asia-Pacific region (including Australia and Japan), Europe and the USA. Respondents were asked to assess the companies in each of the 12 countries in the Asia-Pacific region.

SM Prime is praised for its great discipline in sticking to its main line of business, despite its strong recurring cash flow and balance sheet. Analysts added: "SM Prime has a simple business model that works. It is one of the best because of its unparalleled management quality. It spearheaded the malling phenomenon in the Philippines and has the most experience. Its treatment of minority shareholders and highly reliable forecasting are commendable."