SM Prime to keep Belle Corp separate

SM Prime Holdings has reached a decision not to consolidate Belle Corp, its gaming and development arm, into the group at least for the next five years, according to a local newspaper. The consolidation of SM Group’s property assets will focus on the malls and residential business, SM Prime chairman Henry Sy Jr. told The Philippine Star in an interview.  “SM Prime shareholders are so varied. A lot of funds are from the Middle East so some have concerns on gaming,” Sy said.