Henry Sy

Infobox Person
name = Henry Sy, Sr.
image_size = 200px
caption = Sy (seated) with his children Tessie and Hans in SM Megamall
birth_name =
birth_date = birth date and age|1924|12|25
birth_place = Xiamen, China
residence = Manila, Philippines
nationality = Filipino
known_for = Founder of SM
education =
employer =
occupation = Chairman of SM Prime Holdings
networth = US$1.4 Billioncite web
url=http://www.forbes.com/lists/2008/10/billionaires08_Henry-Sy-family_8U2J.html
title=The World's Billionaires; #843 Henry Sy & family
publisher=Forbes.com
date=2008-03-05
accessdate=2008-09-03]
children = Teresita Sy-Coson; Hans Sy; Henry Sy, Jr.
parents = Henry H. Sy
relatives =


website =
footnotes =

Henry Sy, Sr. ( born December 25, 1924) is the founder and chairman of SM Prime Holdings, the largest retailer in the Philippines. He earned his Associate of Arts degree in Commercial Studies at Far Eastern University in 1950.Citation | url=http://www.tsinoy.com/article_item.php?articleid=748 | title=Henry Sy Sr.: The Man Truly Has It All | last=Bignotia | first=Carmela | date=2007-03-10 | accessdate=2007-10-16 ] 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.

Biography

He is the 2nd wealthiest individual in the Philippines, next to Lucio Tan and (as of 2008) 843rd in the world.cite web
url=http://www.forbes.com/lists/2008/10/billionaires08_Henry-Sy-family_8U2J.html
title=The World's Billionaires; #843 Henry Sy & family
publisher=Forbes.com
date=2008-03-05
accessdate=2008-09-03] 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.)Fact|date=October 2007

Sy controls the Banco de Oro, Universal Bank, and China Banking Corporation.Fact|date=October 2007 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 merged it with Banco de Oro Universal Bank in 2007.Fact|date=October 2007 The merger created the Philippines's second largest financial institution with resources of close to $17billion dollars.Fact|date=October 2007 The Sy family has a personal stake of $4 billion in these 3 banks.Fact|date=October 2007 Mr. Sy has recently sold his 11% stake in San Miguel Corporation, Southeast Asia's largest food and beverage conglomerate for $680 million.Fact|date=October 2007

Henry Sy, Sr., 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.Fact|date=October 2007 He organized the SM Foundation Inc., which helps underprivileged but promising young Filipinos.Fact|date=October 2007

Sy's retail chain is SM Prime Holdings, known as "Shoe Mart" or simply "SM". Several of his children now hold senior management positions in his companies, although he has groomed daughter Teresita Sy-Coson as his successor.

Sy's holding company, [http://www.sminvestments.com/ SM Investments Corp.] , has consistently been cited as one of the Philippines best-managed companies.Fact|date=October 2007 On May 20, 2006, The SM Mall of Asia, built in the reclamation area of Pasay City, was opened to the public.cite web | last =staff of "Shopping Centers Today" | title =Mall of Asia opens in Philippines | work =News | publisher =International Council of Shopping Centers | date =2006-05-20 | url =http://www.icsc.org/srch/apps/newsdsp.php?storyid=2181&region=main | accessdate = 2007-02-15 ] It is the sixth-largest mall in the world.

References

External links

* [http://www.forbes.com/lists/2006/10/8U2J.html Some facts about Henry Sy]
* [http://www.ucanews.com/2008/03/14/no-meat-no-malls-for-philippine-catholics-on-good-friday/]
* [http://blog.folrana.com/?p=851]