SM Prime confirms opening of two new malls in Xiamen
SM Prime [SMPH 26.10, down 1.7%; 129% avgVol] [link] clarified a report on its mall expansion effort in Xiamen, China. SMPH confirmed that it is opening two new malls in Xiamen, but clarified that it is “one new mall plus one expansion project.” SM Supermalls President Steven Tan was quoted as saying, “If you total [all of SM’s malls in Xiamen], it might actually be even bigger than Mall of Asia and Megamall.”