SM Prime and PH Competition Commission Join Forces To Promote Fair Market Competition

Property giant SM Prime Holdings Inc. (SMPH) has partnered with the Philippine Competition Commission (PCC) to launch a nationwide information campaign advocating for fair market competition and its benefits to Filipino consumers.

Championing fair competition. Front row (from left): Philippine Competition Commission chairperson Michael G. Aguinaldo and SM Prime Holdings, Inc. (SMPHI) Assistant Vice President for Operations Christian Mathay signed the Memorandum of Cooperation between the PCC and SMPHI at the PCC office in Quezon City on 17 September 2024. Witnessing the signing are PCC Commissioner Michael B. Peloton (standing left) and SMPHI Competition Protocol Officer Kevin Charles Balderama. I Photo: Philippine Competition Commission Facebook

SM Supermalls Assistant Vice President for Operations Ian Mathay and PCC Chairman Michael Aguinaldo recently signed a memorandum of cooperation (MOC) for the initiative. According to Aguinaldo, the campaign was initiated by SMPH.

As part of the MOC, a 30-second information campaign video from the PCC will be shown in SM Cinemas across the country to educate the public on the commission’s mandate and the advantages of a competitive market.

SM Prime will also feature the campaign on its various digital platforms, including LED poster boxes, cinema directories, digital mall directories, LFD screens, and in-mall LED screens across its 86 malls.

Chairman Aguinaldo emphasized, "As you know, competition law and policy are new concepts in the Philippines. The Philippine Competition Act (PCA) was only passed in 2015. When people hear 'competition,' they often think it’s related to sports."

He added that many complaints received by the PCC pertain to consumer protection, which falls under the Department of Trade and Industry's jurisdiction, rather than competition.

Mr. Mathay stated, “SM Supermalls recognizes its enduring partnership with the PCC. We believe that fair market competition will lead to a vibrant and inclusive economy, advancing consumer welfare.”

Steven Tan, president of SM Supermalls, echoed the sentiment, saying, "We are proud to join forces with the PCC in promoting fair trade practices. By working together, we can empower consumers to make informed choices and contribute to a robust and competitive market."

SMPH also committed to assigning a competition compliance officer who will work with the PCC to develop a compliance program for SM.

The compliance officer will act as the point person for any competition-related concerns that may be raised with the commission. Aguinaldo noted that this provides an opportunity for SM to address any anti-competitive practices before they escalate into formal cases.