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SM tycoon opens 'small' Guam outlet.
(From BusinessWorld (Philippines))
Byline: Cecille S. Visto
Tycoon Henry Sy, Sr. is quietly operating a newly renovated mall in Guam, a move some see as preparation for the SM Group's entry into the elusive US market.
BusinessWorld learned the SM chairman recently reopened the Agana Shopping Center partially after months of renovation that started in March.
The purchase and refurbishment of the property, which costs some $10 million, was a "private investment" of Mr. Sy.
SM Prime Holdings executive vice-president Teresita Sy said the listed mall developer "has nothing to do" with the project. However, she said the firm may join in …
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