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Richmond Mercurio - The Philippine Star
March 4, 2026 | 12:00am
“Right now our portfolio is actually very synergistic with each other, except perhaps the Atlas Mining. Mining is actually an outlier, because all the other businesses have a synergy with the entire group,” SM Investments president and CEO Frederic DyBuncio said.
STAR / File
MANILA, Philippines — SM Investments Corp., the holding company of the SM Group, is mulling the disposal of its stake in listed Atlas Consolidated Mining and Development Corp. as it pursues its planned exit in the data center business.
“Right now our portfolio is actually very synergistic with each other, except perhaps the Atlas Mining. Mining is actually an outlier, because all the other businesses have a synergy with the entire group,” SM Investments president and CEO Frederic DyBuncio said.
He said the potential sale of the group’s stake in Atlas Mining is something that would be discussed in the board level.
“But that’s something which could happen in the near future,” DyBuncio said.
Asked if the intent of SM is to be mining–free, he said “that’s probably going to be the direction which will be taken.”
SM investments effectively owns 34.1 percent of Atlas Mining, a company primarily engaged in metallic mineral exploration and mining.
“Atlas was the very first portfolio investment that we acquired. It went through some rough times and some good times. But now that the copper price and gold price had gone up, the share value of Atlas is now around P9.60 or even P10. We feel that is probably around the right time to sell the shares of Atlas,” DyBuncio said.
Meanwhile, DyBuncio said SM Investments would also pursue its planned exit in the data center business, which the company expressed last year.
“That data center business actually has not progressed very much, so we’re probably going to be exiting that business,” DyBuncio said.
YCO Global Cloud Centers Holdings Inc. is currently part of the portfolio investments of SM Investments. It is a digital infrastructure company developing sustainably built, carrier-neutral and greenfield data centers.
In April 2024, SM Investments subscribed to 5.98 million shares of the company, raising its equity interest in YCO to 18.1 percent.
