Manila's SM Investments sees 2010 capex at $873 mln - News

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Manila's SM Investments sees 2010 capex at $873 mln

By: AFX | 15 Nov 2009 | 11:12 PM ET

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MANILA, Nov 16 (Reuters) - Philippine mall-to-banking group SM Investments Corp said on Monday it would earmark 40.6 billion pesos ($873 million) for capital spending next year, nearly double the amount planned for 2009. SM Investments Corp, which is controlled by Henry Sy, one of the country's richest men, said 12.1 billion pesos would be spent to build five malls, 17.4 billion pesos would go to its property busness and the balance on its retail and hotel/entertainment divisions. ($ = 46.5 pesos) (Reporting by Karen Lema) ((karen.lema@thomsonreuters.com; +632 841-8938; Reuters Messaging: karen.lema.reuters.com@reuters.net)) Keywords: SMINVESTMENTS/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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