Razon's Bloomberry replaces SMDC in PSE index

Posted at 02/28/2013 10:54 AM | Updated as of 02/28/2013 10:54 AM

MANILA, Philippines - Tycoon Enrique Razon's Bloomberry Resorts Corp. will now be part of the Philippine Stock Exchange index (PSEi). 

In a disclosure, the PSE said Bloomberry will replace Henry Sy's real estate unit SM Development Corp. on the 30-company benchmark index starting March 11. This was the result of the review of the PSEi from January to December 2012. 

Bloomberry owns Solaire, which will be the first gaming-resort complex in Entertainment City to open its doors. The integrated resort and entertainment complex, which will house a vast casino area, hotel rooms, restaurants and a variety of high-end boutiques, is set to start operations in March.

Bloomberry will be the second Razon-led company in the PSEi, after ports operator International Container Terminal Services, Inc.

Earlier, SM group said it is "studying" merging mall operator SM Prime Holdings with the property businesses. SM Land Inc. has three segments: SMDC (residential), Commercial Properties Group (commercial), and Costa del Hamilo (leisure).