SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Mar 20, 2017

2. SEC Identification Number

16342

3. BIR Tax Identification No.

000-169-020-000

4. Exact name of issuer as specified in its charter

SM Investments Corporation

5. Province, country or other jurisdiction of incorporation

Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

10th Floor, One E-Com Center, Harbour Drive, Mall of Asia Complex, Postal Code 1300

8. Issuer's telephone number, including area code

(632)8570105

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Stock	1,204,582,867

11. Indicate the item numbers reported herein

Item 9.

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

SM Investments CorporationSM

PSE Disclosure Form 4-13 - Clarification of News Reports References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Clarification of News Article Entitled "SM acquisition of dorm developer gets approval"

Source	Business World (Internet Edition)
Subject of News Report	SM acquisition of dorm developer gets approval
Date of Publication	Mar 20, 2017

Clarification of News Report
Ladies and Gentlemen: We reply to your request for clarification on the news article entitled “SM acquisition of dorm developer gets approval” posted in Business World Online (Internet Edition) today, Monday, 20 March 2017, the pertinent portion of which reads: “SM INVESTMENTS Corp. has obtained approval from the Philippine Competition Commission (PCC) to acquire a controlling stake in the developer and operator of MyTown dormitories. In a decision issued March 13, the anti-trust body resolved to take no further action on the acquisition of 62.2% of Philippines Urban Living Solutions, Inc. (PULS) by the listed conglomerate. . . . . SM disclosed its planned acquisition of PULS in October 2016. At the time, however, Chief Financial Officer and Corporate Information Officer Jose T. Sio noted the conglomerate was only looking to acquire a minority stake in PULS. The acquisition nevertheless required the approval from the PCC, Mr. Sio had said, suggesting the consideration amounted to the P1-billion threshold for mergers and acquisitions requiring review by the commission. . . . .” We confirm the above news article. Thank you. Very truly yours, Elmer B. Serrano Corporate Secretary
Other Relevant Information
Please see attachment.