Henry Sy 5/21/12SPECIAL REPORT SUBMITTED BY: JOHN NG
Henry Sy (施至成) His original birth name Sy Chi Sieng literally meant "to attain ultimate success.“ Born on December 25, 1924 Remote village in Fujian province, south China Known as the “Father of Philippine Retail” He’s net worth according Forbes is $8 billion in March 2012, #1 Philippines’ richest man
History (continued) His father left the family, when he was still a toddler, for a country that was then a US territorial protectorate Came to the Philippines at the young age of 12 to helped his father in a small sari-sari located in Carlos Palanca St. in Quiapo , Manila Devised ways to increase his income by developing small portions of products.
WWII came and the sari-sari store was burned. He survived the loss of his father’s two sari- sari stores at the close of World War, the sari-sari store was looted and burned He did a lot of buying and selling of odd things during the war to enable the family to survive. He got hurt while selling, and was brought to the hospital by a friend. He expressed his gratitude after the war by making that friend his partner in a shoe store.
History (continued) After the war ended in 1945, he ventured into selling American shoes He later saw the opportunities of opening a shoe store, and not long after he was managing three shoe store in partnership with friends. In 1950, with the pleasure of a growing family he find a time pursuing studies at FEU. He earned his Associate of Arts degree in Commercial Studies
He went on a long business trip to the East Coast, and came home with a lot of merchandising ideas. He was selling a lot of shoes, accessories, and leather goods, hoping to change the way shoe manufacturers look at the industry. He decided to open SHOE MART “SM” the first air-conditioned shoe store that merchandised shoes in a very inviting and classy format With the success of that store, he went on to open more shoe stores, but he could not get enough suppliers He opened the first department store in 1972, two months after Martial Law was declared. During the Martial Law years, he continued to open more department stores, reaching a point wherein he could not get space he needed in the existing shopping centers during that time
When they started the construction of their first mall in 1983, the Philippines was in the midst of chaos. The economy was bad because of the assassination of Ninoy Aquino. Later, they expanded, slowly building malls such as SM Sta. Mesa and Megamall, however, they were faced with delays in construction due to cement shortages. When the 1997 Asian crisis came, they were planning the mall expansion, including the Mall of Asia, which was then envisioned to be the biggest mall in the region, but was deferred due to the region wide crisis. At about the same time, they looked into the banking business. Their main bank was Banco de Oro – a medium-sized bank back then. Their business especially that of shopping centers is a long term business. It takes at least eight years to pay back. They believed that the Filipinos who love shopping will always be around. They also have to continuously innovate; their other retail formats like supermarkets are continuously evolving with the shopping habits of our customers. Their group’s policy is to look for opportunities at all times, and to be ready to act when it comes. Opportunity is where you find it, not where it finds you. Crisis and weakness indicate one can look for opportunities. Transforming problems into opportunities can bring good returns. Prosperity and growth come only to a business that systematically exploits its potentials and systematically optimizes its performances.
“ There is no such thing as overnight success or easy money. If you fail, do not be discouraged; try again. When you do well, do not change your ways. Success is not just good luck: it is a combination of hard work, good credit standing, opportunity, readiness and timing. Success will not last if you do not take care of it .” - Henry Sy
Family Wife: Felicidad Tan Sy Children : 6 children Teresita Sy-Coson Herbert T. Sy Henry T. Sy Jr Elizabeth T. Sy Hans T. Sy Harley T. Sy
Teresita Sy-Coson One of the world’s most powerful women in business, is a Chinese-Filipino owner of SM Investments Corporation. The eldest, she was groomed by his father as his successor. She is considered as one of the most prominent people in the Philippines as mentioned in the list of Philippine Tatler’s “Who’s Who of the Philippines”. A student at the Assumption College, she started doing part-time work in one of the SM stores. In 1990 Sy-Coson, then 39 was appointed president of Shoemart, Inc. A woman successor of his Henry Sy, she holds several key positions within the organization. She is vice-chairman of Investments Corporation, the SM Group’s holding company, which set the record for largest Philippine initial public offering in 2005; the president of SM, Inc., which handles the group’s department store business; and director of SM Prime Holdings, which owns and operates its chain of supermalls. She is also vice-chairman of Equitable PCI Bank, which recently merged with Banco de Oro Universal Bank, SM’s main bank. When the merger takes full effect, she will be chairman of the merged bank, BDO EPCI Bank.
Henry Sy, Jr. Henry T. Sy, Jr. is Vice Chairman and Chief Executive Officer of SM Development Corporation. He is also the Chairman for Pico de Loro Beach and Country Club, Inc. Vice Chairman and President of SM Land, Inc., Vice Chairman for SM Investments Corporation, Belle Corporation and Highlands Prime, Inc., Director for SM Prime Holdings, Inc. and Banco de Oro Unibank, Inc. He is responsible for the real estate acquisitions and development activities of SM Group which includes the identification, evaluation and negotiation for potential site as well as the input of design ideas. He holds many key positions in the SM Group. He graduated with a management degree from De La Salle University.
Hans Sy Hans T. Sy has been the First Executive Vice President of Sm Investments Corp. since 2005. Mr. Sy serves as President of SM Prime Holdings, Inc., and Executive Vice President of ShoeMart Inc. Mr. Sy serves as President of Shopping Center Management Corporation. He heads the shopping mall operations and the engineering and construction divisions within the SM Group. He served as Senior Vice President of Operations of SM Prime Holdings, Incorporated since 1994. He serves … as Chairman of Tagaytay Highlands International Golf Club Incorporated. He serves as Chairman of Family Entertainment Center, Inc., Wonderfoods, Inc., Linde Refrigeration Phils., Inc. He serves as Vice Chairman of China Banking Corporation. He served as Vice Chairman of Highlands Prime of Incorporated and Belle Corp. Mr. Sy has been Director of Belle Corp. since May 28, 1992, China Banking Corp. since 1986 and SM Prime Holdings Inc. since 1994. Mr. Sy serves as Director of SM Investments Corporation, SM Development Corporation and Sinophil Corp., and Supervalue, Inc. He has been a Director of Highlands Prime, Inc. since September 1, 2004. Mr. Sy serves as director in affiliates/subsidiaries and other corporations such as Best Rubber Corp.; ACE Hardware Phils. Inc.; HS Food, Inc.; Land Building Corp.; Market-Watch Investors Co., Inc.; Multi- Realty Dev’t. Corp., among other corporations. He served as an Independent Director of Macroasia Corporation from July 1999 to 2006. He served as a Director of Fortune Cement Corporation, Pure Foods Corporation and Banco De Oro. Mr. Sy holds a Bachelor of Science degree in Mechanical Engineering from De La Salle University.
Herbert Sy Herbert T. Sy is from a family that is widely recognized in giving rise to the SM phenomenon and transforming the Filipino lifestyle and their shopping experience, comes a tycoon who is nothing less of an authority in retailing, entrepreneurship and business development as his predecessors. Mr. Herbert Sy currently holds top positions in a number of corporations across various industries. He is currently the director of Shoemart Inc., which boasts of 31 malls marked as landmarks in key cities across the country, and President of SuperValue, Inc. which handles all the SM Supermarkets. He is a director of SM Appliance Center, SM Prime and Makro Philippines and also the Director and Executive Vice-President of SM ACA. Mr. Sy is also currently a Director of China Bank Corporation & Best Rubber Corporation and Chairman of Sondrik Holdings Corporation. Real property development is also included in his roster of business ventures as he is the director of Multi-Realty Development Corporation, Tagaytay Resort Development Corporation and Ortigas Center Association. Herbert Sy received his business management degree from De La Salle University in 1979.
Elizabeth Sy Elizabeth T. Sy has been a Senior Vice President of Marketing at SM Prime Holdings Inc. since 1994. Ms. Sy has been a Treasurer of SM Investments Corp., a subsidiary of SM Prime Holdings Inc., since 2005. She is actively involved in investor relations for SM Prime. She is also actively involved in the SM Group’s tourism and leisure business endeavors, overseeing operations as well as other marketing and real estate activities. She has been a Director of SM Development … Corp., since April 2008. Ms. Sy serves as a Director of Banco De Oro Private Bank. She is a Graduate in Business Administration from Maryknol College.
Harley Sy Harley T. Sy has been the President of SM Investments Corp., since 2005 and serves as its Chief Executive Officer. Mr. Sy also serves as Executive Vice President of ShoeMart Inc., a subsidiary of SM Investments Corp. He served as Senior Vice President and Treasurer of SM Prime Holdings Inc., from 1994 to February 20, 2007. Mr. Sy was involved in the merchandising area of the SM Department Store, as well as retail affiliates within the SM Group. He takes an active role … in Mall leasing. Mr. Sy has been a Director/Officer for more than five years in companies engaged in banking, retailing, food, real estate development, finance and investment. Mr. Sy has been a Director of China Banking Corp., since May 2001 and SM Investments Corp., since 1993. His directorships include the following: ACE Hardware Phils., Shoemart Inc., and H.S. Food, Inc., among other corporations. HSY, HTS, HS and HTS, Jr. are related within the 2nd civil degree by consanguinity. He served as a Director of Equitable PCI Bank Inc., since August 2005. He served as a Director of Vantage Equities, Inc. Mr. Sy holds a Bachelor of Science degree in Commerce, major in Finance from De La Salle University.
Achievements Was named "Management Man of the Year" by the Makati Business Club and was conferred an Honorary Doctorate in Business Management by De La Salle University- Manila in January 1999. Was awarded the first special recognition as the "Father of Philippine Retail" in December 2005 by the Philippine Retailers Association. Was considered a Tai-Pan or tycoon of Asia.
Achievements (continued)Sys net worth according to Forbes Asia topping thePhilippines rich list from year 2008 to 2012: 2008 2009 2010 2011 2012 $3.1 $4.0 $5.0 $7.2 $8.0
SM Supermalls List:1. North EDSA 15. Lucena 29. Taytay Supercenter2. Sta Mesa (Centerpoint) 16. Marilao 30. Muntinlupa3. Megamall (Ortigas) 17. Baguio 31. Baliuag4. Cebu 18. Dasmarinas 32. Marikina5. Southmall (Las Pinas) 19. Batangas 33. Naga6. Bacoor 20. San Lazaro Supercenter 34. Calamba7. Fairview 21. Valenzuela Supercenter 35. Tarlac Urdanet8. Iloilo 22. Molino 36. Laoag Supercenter9. Manila 23. Santa Rosa 37. San Pablo Supercenter10. Pampanga 24. Clark 38. Rosales11. Sucat 25. Mall of Asia 39. Dagupan Supercenter12. Davao 26. Supercenter Pasig 40. Meycauayan13. Bicutan 27. Lipa Supercenter14. Cagayan De Oro 28. Bacolod 41. Tagaytay Supercenter 42. Dumaguete
Titles Founder of SM Group Chairman and CEO of: SM Investments Corporation, SM Prime Holdings, SM Development Corporation and Highlands Prime Holdings, Chairman Emeritus, Banco de Oro, Honorary Chairman and China Banking Corporation