"YOUR FRIENDLY PHILIPPINE FOREIGNERS AND PHILIPPINE PROVINCES ONLINE ELECTRICAL SUPPLIER"

"YOUR FRIENDLY PHILIPPINE FOREIGNERS AND PHILIPPINE PROVINCES ONLINE ELECTRICAL SUPPLIER...AND SERVICE PROVIDER" WE'LL HELP YOU OWN YOUR ELECTRICAL SUPPLIES REQUIREMENTS

Sunday, August 25, 2013

WHAT YOU WILL LEARN FROM SIR HENRY SY "FOUNDER OF SHOEMART"

Henry Sy

From Wikipedia, the free encyclopedia
Henry Sy, Sr.
BornDecember 25, 1924 (age 88)
AmoyRepublic of China
ResidenceManilaPhilippines
NationalityFilipino
EthnicityHan Chinese
EducationFar Eastern University
OccupationChairman and CEO of SM Investments Corporation
SM Prime Holdings
SM Development Corporation and Highlands Prime Holdings
Banco de Oro Chairman Emeritus
China Banking CorporationHonorary Chairman
Known forFounder of SM Group
Net worth$13 billion
TitleHenry Sy & family
ChildrenTeresita
Elizabeth
Henry Jr.
Hans
Herbert
Harley
ParentsHenry H. Sy
Henry Sy, Sr. (ChinesepinyinShī Zhìchéng; born December 25, 1924) is a Chinese Filipino businessman with interests in retailing, real estate, hospitality, banking, mining, education including healthcare services. He pioneered the establishment of SM Malls, anchored by Shoemart Department Store and Supermarket earning him the title, the PhilippinesRetail King. He is the chairman of SM Prime Holdings, Inc., the holding corporation for all his business interests in his vast business empire. In 2011, Forbes Magazine listed him as the no. 1 billionaire in the Philippines.
He has six children.[1]

Biography[edit source | editbeta]

  • Early life
Henry Sy was born to a poor family in XiamenChina on December 25,1924. He is the son of Henry H. Sy. He graduated from San Beda College Mendiola. He immigrated to the Philippines and got his start by selling rejected and overrun shoes from Tondo.[2]
He completed his secondary education in a school now known as Chiang Kai Shek College [3] and earned his Associate of Arts degree in Commercial Studies at Far Eastern University in 1950.[4]
  • Foray into business
In 1958, Sy established a small shoe store in QuiapoManila that marked the establishment of SM Prime Holdings.[5] In November 1972, the small shoe store became SM Quiapo, SM's first standalone department store.
On December 25, 1985, he established his first SM SupermallSM City North EDSA.[6]
He is the Philippines' richest man, gaining $5 billion in 2010, amid the global financial crisis. The huge gain was due to his holding company, SM Investments Corporation, which has interests in Banco de Oro, inter alia. Forbes magazine's 2008 list of 40 wealthiest Filipinos, revealed the Sy family's net worth was $6.2 billion. Earlier, he was the second wealthiest individual in the Philippines, next toLucio Tan, and (as of 2010) 201st in the world.
Sy is considered a tai-pan. The Sy group is the operator of Banco de Oro and owner of Chinabank. In 2006, he bought the remaining 66% of Equitable PCI Bank, the Philippines third largest lender, in which he already had a 34% stake, and merged it with Banco de Oro in 2007. The merger created the Philippines' second largest financial institution with resources of close to $17 billion. Rumors say that the Sy family has a personal stake of $4 billion in these three banks, although there is no sufficient evidence to strongly substantiate that.
In August of 2005, Sy's stake in the San Miguel Corporation, Southeast Asia's largest food and beverage conglomerate, reached 11%.[7] He sold that stake in October of 2007[8] for $680 million.[9]
Henry Sy, Sr., was named "Management Man of the Year" by the Makati Business Club in 1999 and was conferred an Honorary Doctorate in Business Management by De La Salle University in January of that year. He organized the SM Foundation Inc., which helps underprivileged and promising young Filipinos. Several of his children hold senior management positions in his companies, although he has groomed daughter Teresita Sy-Coson and his grandchildren Hailey Sy-CosonDarcie SyPatrick Carlo SyCheska SySarita Sy,Samantha Ong-Sy and Josiah Sy as his successors. Sy's holding company, SM Investments Corporation, has consistently been cited as one of the Philippines best-managed companies. On May 20, 2006, the SM Mall of Asia, built in the reclamation area of Pasay City, was opened to the public. It is the third-largest mall in the world as of 2012.

Business interests[edit source | editbeta]

  • Leisure
    • Belle Corporation - is a leading Philippine developer of high-end residential and leisure properties.
    • Highlands Prime, Inc. - engages in developing leisure properties in the Philippines.

Awards[edit source | editbeta]

  • Management Man of the Year" by the Makati Business Club – 1999
  • Honorary Doctorate in Business Management by De La Salle University in January 1999
  • 40 Richest Filipinos of 2008
  • Forbes magazine Heroes of Philanthropy 2009
  • 1st Chinese-Filipino recipient of the PCE Big Brother of Filipino Entrepreneurs award (2006)
  • 1st Chinese-Filipino recipient of the PRA President's Award (2005)

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