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CEO Philippines. Henry Sy - $4.0 billion -He owns SM group with 27 shopping
malls in the Philippines and several others in China. ...
... Land Bank of the Philippines CEO Gary B. Teves, in his recent report, clearly stated
that indeed coconut production has been a major economic asset to Filipino ...
... in the dynamic, ever-changing, and constantly fluctuating business environment of
the Philippines. ... or Carly Fiorina of HP, the larger-than-life CEO, led a Good ...
... Presently, many well-educated Filipinos are leaving the Philippines to go to the ...
prevents them from reaching more prestigious jobs, such as CEO and management ...
... Mr. Hunter was the regional manager in the Philippines and noticed that relying
on ... As CEO, Mr. Goizeueta was always looking at the “big picture”, while Mr ...
Submitted by wehlopez on April 3, 2008
Category: Biographies
Words: 2523 | Pages: 11
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Henry Sy - $4.0 billion -He owns SM group with 27 shopping malls in the Philippines and several others in China. He also owns Banco de Oro Universal Bank and has substantial shares in China Banking Corp. and Equitable PCI Bank. He also owns Highlands Prime Holdings, a high-end property developer.
Henry Sy, Sr. (born December 25, 1924) is the founder and chairman of SM Prime Holdings, the largest retailing corporation in the Philippines. He earned his Associate of Arts degree in Commercial Studies at Far Eastern University in 1950. Acknowledged as the country’s "Retail King," he has come a long way from the modest shoe store he set up in Quiapo in 1946, to become the owner of the Philippines’s biggest chain of shopping malls.
Henry Sy is the wealthiest individual in the Philippines and (as of 2007) 349th in the world. Forbes magazine estimates his wealth at $2.6 billion, but some estimate Sy's assets to total US$5 billion far higher than the $1.7 billion that forbes estimates. Some say that he controls 40-60% of companies worth more than US$15 billion.
Sy is considered a Tai-Pan or tycoon of Asia. As of 2006, Forbes magazine ranked him as the 14th richest person in Southeast Asia; "Henry Sy and family" is ranked the 74th richest in the "Asia and Australia" region, and 512th richest in the world. (In the absence of evidence to support such higher claims, the Forbes numbers should taken as a "best-guess" estimate for the time being.)
Sy controls the Banco de Oro, Universal Bank, and China Banking Corporation. In 2006, he bought the remaining 66% of Equitable PCI Bank, the Philippines 3rd largest lender, in which he already had a 34% stake, and has merge it with Banco de Oro Universal Bank in 2007. The merger created the Philippines's second largest financial institution with resources of close to $17billion dollars.
The Sy family has a personal stake of $4 billion in these 3 banks. Mr....
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