Save Manila Bay

Doubts on fate of reclamation projects weigh down SM Prime Holdings

January 1, 2020 12:07 am

INVESTORS bet on the future of Sy-led SM Prime Holdings, Inc. after President Rodrigo R. Duterte said he would not approve proposed Manila Bay reclamation projects unless proponents have safety measures for the environment and public health.

SM Prime was the second most actively traded stock last week, with a total of 57 million shares worth P2.31 billion exchanging hands from Jan. 14 to 17, data from the Philippine Stock Exchange (PSE) showed.

The stock was lower by 3.1% on a week-on-week basis to P40.70 apiece on Friday from its P42.00-per-share close on Jan. 10. Since the start of the year, the stock has fallen by 3.7%.

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