Henry Sy

Life & Inspiration

Profile• Real Name : Henry Sy, Sr• Chinese Name: 施至成• Chinese Name:Sy Chi Sieng literally meant "to attain ultimate success" • Born : December 25, 1923, Xiamen, China• Residence : Manila, Philippines• Nationality : Filipino• Occupation : Chairman of SM Prime Holdings• Net worth : US$ 9.2 Billion• Known for : Founder of SM• Parents : Henry H. Sy & Tan O Sia• Wife: Felicidad Tan Sy • Children : 6 children

• Teresita Sy-Coson• Henry T. Sy Jr.• Hans T. Sy• Herbert T. Sy• Elizabeth T. Sy• Harley T. Sy

•  • Schools Attended : Far Eastern University• Fortune: Self made• Source: Malls

Small Beginnings• 1935 – At the age of 11, his father left the family, for a country that was then a US territorial

protectorate. His father was a trader seeking for good opportunities in a place where economic progress was bright and promising

• 1936 - followed his dad and migrated to the Philippines at the tender age of twelve. It was in the year 1936 when he left his home village Ang-khue of the Dieng-oh municipality in the county of Jinjiang, now a city, which lies near Xiamen in Fujian province. His mom told him “ Never look back”.

• - The two were reunited in a cramped space of only 30 square meters in floor area in a dirty street in the district of Quiapo, central Manila. He saw his father again in poor health conditions which moved him a lot. His father was a proprietor of a tiny grocery store on Echague Street, - now Carlos Palanca Sr. St. - just behind the city's notorious Chinatown.

• HIS MAIN GOAL IN LIFE: The will to strive for excellence and to overcome the harsh environment of poverty through the discipline of hard work and frugality. He has learned the value of honesty and patience in the business.

The Birth of SM• 1936 – enrolled as Grade One at the Anglo Saxon school of Quiapo at the age of 12

• World War II - local economy collapsed during the Japanese occupation, businesses closed and the country's industries were all destroyed after the Battle for Manila

• 1946 – his father flew back to China without second thoughts, the young Henry Sy decided to stay.

• 1949 - received his first credit line from the China Bank and was lent with one million Philippine pesos, approved by financial tycoon Mr. Yap Tian Siang.

• 1950- to improve his entrepreneurial skills in the buy and sell trade, he later enrolled at the Far Eastern University in 1950 and took up a degree in Associate in Arts in Commercial Studies. . He also considered the change of his legal name into Henry Sy after obtaining Philippine citizenship

• 1958 – first Shoe Mart store was established

• 1972- Shoe Mart store wasn built in Dowtown Manila

• 1985 – first SM Mall was built in North Edsa

6 Children Teresita Sy- Coson (SMIC) Henry I. Sy Jr. (CEO of SMDC) Hans I. Sy (CEO of SMPH)

Herbert I. Sy (SuperMarket) Elizabeth I. Sy (SVP of SMPH) Harley I. Sy (China Bank)

Business Interests• SM Investments Corporation (SMIC) is the holding company of the SM Group of

Companies. SMIC is engaged in four businesses through its subsidiaries: shopping mall development and management (SM Prime Holdings, Inc.), retail merchandising (SM Department Stores, SM Supermarket and SM Hypermarket); financial services (Banco de Oro Unibank Inc. and China Banking Corporation), and real estate development and tourism (SM Land, Inc., SM Development Corporation and Highlands Prime, Inc.).

• SM Prime Holdings, Inc. (PSE: SMPH) or SM Prime is the parent company of the SM Group’s shopping malls. It is the largest shopping mall and retail operator in the Philippines. It was incorporated on 6 January 1994 by Filipino-Chinese entrepreneur Henry Sy to develop, conduct, operate and maintain the SM commercial shopping centers and all businesses related thereto, such as the lease of commercial spaces within the compound of shopping centers. It later went public on 5 July 1994 and subsequently grew to become the largest company listed on the Philippine Stock Exchange in terms of revenue.

• Banco De Oro Unibank Inc. (BDO), originally known as Acme Savings Bank, was acquired by the SM Group in 1976. The SM Group is one of the largest conglomerates in the Philippines, with substantial interests in financial services, real estate development, and tourism and entertainment, founded around its core business in commercial centers and retailing. BDO listed its shares on the Philippine Stock Exchange (PSE) on May 21, 2002.

• San Miguel Corporation (PSE: SMC and SMCB) is the largest publicly listed food, beverage and packaging company in the Philippines. As of 2001, its business generated 3.6 percent of the Philippines’ gross domestic product and 4.5 percent of the government’s tax revenue. Founded in 1890 as a brewery, San Miguel now makes nine out of every 10 bottles of beer, 87 percent of the soft drinks, 60 percent of the processed meat and 40 percent of the poultry sold in the Philippines. The trade-name San Miguel originates from St. Michael the archangel.

• Belle Corporation is a leading Philippine developer of high-end residential and leisure properties. Its products are located in a recreational area comprising mountains, rolling hills, and lakeshores about 1-2 hours south of Manila in Tagaytay City and Batangas province, with spectacular views of Taal Lake and the surrounding countryside.The Belle Group owns approximately 1,280 hectares of undeveloped land around existing finished and in-process projects, on which it will develop future projects over at least the next five years without the need for substantial new land acquisitions.

• Highlands Prime, Inc. engages in developing leisure properties in the Philippines. The company’s property assets comprise undeveloped land, subdivision lots, and finished residential units located in Tagaytay City, Cavite, and Batangas. It sells its products primarily to members of Tagaytay Highlands International Golf Club, Inc.; Tagaytay Midlands Golf Club, Inc.; and The Country Club at Tagaytay Highlands through accredited sales agents and brokers.

• China Banking Corporation, together with its subsidiaries, provides commercial banking products and services to businesses and entrepreneurs, as well as to individuals in the Philippines. It offers deposit products, loans and trade finance, domestic and foreign fund transfers, treasury products, trust products, foreign exchange, corporate finance, and other investment banking services. The company also offers insurance brokerage, computer services, and asset management services.

• SM Development Corporation (SMDC) was originally incorporated in 1974 as Ayala Fund, Inc., a closed-end investment company. In March 1986, it was renamed SM Fund, Inc. after the SM Group of Companies took majority ownership of the company. Since then, SM Fund, Inc. remained as an investment company providing investors with a professionally managed vehicle to invest in diversified businesses in the country.

Now....• For 5th consecutive year, Henry Sy is the richest man in the Philippines

• Has built 46 malls in the Philippines, and 4 outside the country• SM is the biggest retail business & BDO as the biggest bank in terms of assets• Owns SM foundation which provides educational, health & livelihood assistance to

the less fortunate people

“There are countless ways to make more money. Only your willingness to work, your imagination, and time can limit

the ways.” – Henry Sy

Sources

• http://www.manilatimes.net/~manilati/index.php/opinion/columnist1/30380-already-the-richest-filipino-henry-sy-sr-keeps-growing-his-business

• http://ph.news.yahoo.com/sm-prime-hans-sy-joins-unisdr-private-sector-084132481--finance.html

• http://wiki.answers.com/Q/What_is_the_life_history_of_Henry_Sy

• http://www.millionaireacts.com/676/henry-sy-success-story.html

• http://www.rappler.com/business/7377-for-5th-year-in-row,-henry-sy-is-ph-s-richest-man