Manila: Sy-led SM Investment Corp. (SMIC) is contemplating the sale of its shares in Atlas Consolidated Mining and Development Corp., as mining no longer fits within its primary business strategy. SMIC President and CEO Frederic DyBuncio highlighted this shift during a briefing, noting that the mining sector represents an anomaly within their investment portfolio.
According to Philippines News Agency, DyBuncio explained that mining is inherently a cyclical business, influenced by fluctuations in the dollar. He remarked, "If the dollar goes down, prices go up and if the dollar goes up, prices go down. It's really a cyclical business and right now, it's probably a good time to be able to dispose of it given the need for copper for all of these EVs (electric vehicles) and whatever else that's being done." SMIC currently holds approximately a 30 percent stake in Atlas.
DyBuncio further mentioned that Atlas, along with Philippine Geothermal Production Company Inc. (PGPC), had a negative impact on portfolio investments last year. PGPC's reduced contribution was attributed to pricing linked to the Wholesale Electricity Spot Market (WESM).
SMIC announced a 10-percent rise in consolidated net income in 2025, totaling PHP90.5 billion, alongside a 4-percent increase in revenues to PHP681.7 billion. The banking sector contributed 49 percent of the net income, followed by property at 27 percent, retail at 18 percent, and portfolio investments at 6 percent.
Looking ahead, DyBuncio indicated that renewable energy and logistics, via the 2Go Group Inc., will be key focus areas for SMIC in 2026.
