Henry Sy...

INTEG

Henry Sy is also known as Henry T. Sy Sr. He is a renowned businessman and philanthropist and investor of Chinese-
Filipino origin. Born into a poor family, he strived hard to reach the position where he is today. He is involved in a
number of business sectors which include education, real estate, healthcare, hospitality, mining and banking. He
controls the SM malls and is also the chairman of SM Prime Holdings Inc. It is this holding corporation that takes care of
all the business requirements of his huge empire. However, he started his business in 1958 with a small shoe store that
was based in Quiapo in Manila. It was this store which formed the foundation for holding corporation, SM Prime
Holdings. The shoe store stuck gold and went on to be SM Quiapo, one of the largest SM departmental stores. Later he
went on to establish SM Mall which was instrumental in quadrupling his business revenues and thus, his wealth.

*Henry Sy Parents – Henry H. Sy and Tan O Sia

Henry Sy was born to Henry H. Sy and Tan O Sia on 25th December, 1924 in Jinjiang in China. Not much is known about
his parents. Henry went to Chiang Kai Shek College from where he completed his secondary education. Later, he studied
at Far Eastern University from where he secured his Associate Arts Degree in Commercial Studies.

Henry Sy is married to Felicida Tan – Sy. The couple has six children – two daughters and four sons.

Henry Sy has six children. Of these, Teresita Sy Coson is the Vice Chairman of SM Investments Corporation and the
Chairperson of BDO Unibank Inc.

Henry Sy's Net Worth

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.

Source @ Wikipedia

From Shoe Seller to Retail Billionaire in the Philippines: Henry Sy Story

Henry T. Sy, Sr. From rags to riches—the stories we are so often inspired by. Where the poor and hard-pressed become
the rich and the powerful, either by hard work and perseverance, meeting the right people at the right time, or just by a
twist of fate and a stroke of dumb luck. We can’t help but be in awe when we find out that those in power came from
the humblest of beginnings. For success and achievement are not handed down on a silver platter but earned through
the trials of life and through the will and determination to see things through to the end.

Here we will look into the story of a man who arrived in the Philippines and struggled every step of the way, eventually
becoming the richest man in the country—and who still holds that title today. That man is Henry Sy, Sr.—a Chinese-
Filipino business magnate, successful investor, and philanthropist. He started out his career with a simple but friendly
sari-sari store (neighborhood variety store), before going on to make a shoe retail store. He is now the chairman of SM
Prime Holdings Inc., the holding corporation for all his interests within his dominant empire.henry syHenry Sy has gone
through much adversity in his life. He did not get success once and roll with it continuously; he had his ups and downs
like many of us do. But what made him different and eventually earned him the success he is enjoying now is that he
never gave up on pursuing his dreams.

Every time we hear the name Henry Sy, the first thing that comes to our mind would be SM, a business taipan, and how
rich he is. Who wouldn’t? He is just the richest man in the Philippines for fifth year in a row now. That is why everyone is
curious about his success story as a Filipino Chinese entrepreneur.

Mr. Sy is the founder of SM Group and chairman of SM Prime Holdings, the largest retailer and shopping mall operator
in the Philippines. SM malls were among the largest mall in the world based on gross leasable area as of 2012 (SM City
North EDSA at no. 3 and Mall of Asia in Pasay at no. 10). But would you believe that this man who literally overflows with
money was once just a poor boy? Hard to imagine that but the Retailer King actually was just a striving Chinese boy who
was determined to find a way out of the poverty.
Born Sy Chi Sieng in a small village in southern China on December 25, 1932 to a poor family, Henry become eager to
follow upon his father’s footsteps on becoming a businessman who set out to try his luck in another country when he
was just a toddler. At the age of 12 he followed his father here in the Philippines pretty sure that he was going to
succeed only to be surprised of the state of his father’s miserable life in this foreign country. After shedding a tear of
that very sad reality, he became more persistent on achieving his goal. He did everything he could to help alleviate life;
he worked from dawn until late at night.

He would buy goods from Divisoria flea market, carry them on his back and sell them in his father’s small (sari-sari)
store. When they close for the night, they would both sleep inside that small space until all their hard labor eventually
earned them a better way of life.

Henry started his studies at Anglo-Chinese School in Quiapo at the age of twelve where he also struggled to learn
English. But everything else was doing fine for him and his father until the Japanese came to take over Philippines during
the World War II. The economy collapsed, and all in 1946, their store was burned down which made his father decide to
go home to China. Henry however decided to stay. He started his own business by selling cheap shoes from Marikina.

In 1949, he was able to loan a capital from China bank and used it to rebuild his business. And to improve his skills in the
buy and sell industry, he decided to enroll at Far Eastern University in 1950 taking up a degree in Associate in Arts in
Commercial Studies. He changed his legal name to Henry Sy upon acquiring his Philippine citizenship. After two years, he
had to give up his studies so he could focus on his business.

He married a Chinese immigrant who changed her legal name to Felicidad upon acquiring her Filipino citizenship and
they had six children. They both converted to Catholicism due to the strong Filipino influence.

When the economy in the Philippines was starting to get back on the right tracks, Henry decided to put up the first
Shoemart along Carriedo St. in Manila. And because its popularity, he was able to open another two outlets. But he was
not contented of what he have achieved and decided to add appliances division on each of his stores. By 1960’s, store
chains have expanded. And in 1970’s, it became a full-line Department Store changing the name from Shoemart to SM
with a pioneering store at Makati City followed by four other stores including one in Iloilo City which was the first
outside of Metro Manila.

In November 25, 1985, the first Supermall was opened in Quezon City which was called SM City North EDSA, as of today;
there are already 43 malls across the Philippines and branches in China.

With all his achievements, Mr. Sy have collected awards, including Management Man of the Year by Makati Business
Club in 1999, Honorary Doctorate in Business Management by De La Salle University in January 1999, 40 Richest Filipinos
of 2008-2012, Forbes magazine Heroes of Philanthropy, and he was the 1st Chinese-Filipino recipient of the PRA
President Award (2005).

Was it just pure luck or a fruit of labor? Maybe both, with this, Mr. Sy was able to give as a very concrete example of the
saying; if there is a will, there is a way. Long live the King of Retail!

Image Source: Henry Sy photo uploaded at WikiPilipinas.Org; courtesy of Forbes.com; Photo by Paul Hu /
assignmentasia.com

Henry Sy

REAL TIME NET WORTH — as of 11/22/17

$20 B

Henry Sy is chairman emeritus of SM Investments, one of Philippines' largest conglomerates which saw $6.7 billion in
revenue in 2016. He started out by learning the ropes of retail beside his father in the family's convenience store. After
saving enough money, he went out on his own and started his first business with a footwear shop. Sy has topped the
Forbes Philippines Rich List for ten years in a row.

Henry Sy’s Keys to Success

Posted in: Articles, Articles

By Nov 5, 2009 - 3:07:39 PM

By Michael G. Rayel, MD

Who’s Henry Sy? Is he rich and successful? If so, why talk about him? Why not just relish on the successes of Donald
Trump of The Apprentice or Warren Buffet, the Oracle of Nebraska?

Henry Sy has inspired millions of people from the Philippines and around the globe because of how he built his business
empire; how he created the “malling phenomenon” and transformed the shopping experience in the Philippines.

Henry was born in China. Poor and desperate at age 12, his family migrated to the Philippines to seek greener pasture.
Initially, he set up a small retail store as he aimed for a better life. After World War II, he opened a few shoe stores.
Inspired by his early successes, he started Shoemart retail store in 1958 and later department stores.

Through perseverance and hard work, he gradually expanded his stores to malls to capture a bigger market. When he
planned to build the first mall, many people including bankers and businesspeople thought that it wasn't a good idea
especially that Philippines was then going through crisis. But he followed his vision and his first mall was a huge success.

And now, Henry’s companies own major banks, a real estate business, and several huge malls in the Philippines and in
China. In fact, three of his malls in Metro Manila belong to the top 10 largest malls in the world.

In 2008, Forbes Magazine named him as one of the world’s billionaires and the richest in the Philippines with $3.1 Billion
net worth. Wow! Not bad for someone who started with almost nothing.

What are Henry’s secrets to success?

Teresita Sy-Coson, Henry’s eldest daughter who runs his many businesses, revealed his success formula. In one of her
speeches (printed at Philippine Daily Inquirer, Sept. 2004), she stated Henry’s 14 success strategies: 1. Leadership 2.
Integrity 3. Vision 4. Focus 5. Passion 6. Hard work 7. Perseverance 8. Optimism 9. Confidence 10. Discipline 11.
Organization 12. Mission 13. Social responsibility and 14. Recognition of opportunity. Do you have Henry's qualities?

Below, you’ll find questions on Henry’s success secrets. Read each of them carefully and provide your honest answers.

On Leadership

Are you willing to be different? Are you willing to establish a brand that represents who you are or that shows how
unique your business is? Are you willing to make the necessary and yet painful decisions to help your business?

On Integrity

Can people trust you? Can you trust yourself? Do you mean what you say and say what you mean? Do you walk the talk?
Do you keep your promises?

On Vision

Do you have a long-term plan? Do you see yourself or your business 15 years from now? Or 50 years from now? Have
you weighed the necessary steps to achieve your goals?

On Focus
Are you fully focused in achieving your dreams? Do you make the effort to ignore distractions? Do you tactfully deal with
people who waste your time?

On Passion

Do you have the burning desire to succeed? Do you like to savor success despite the hurts, frustrations, and losses? Are
you passionate about what you’re doing

On Hard work

Are you willing to give extra hours to pursue a sale or to create a better product or to improve your work? Do you give
your best effort in advancing your business or your cause?

On Perseverance

Do you persevere against all odds? Do you stay the course despite the negativism in your community or problems in
your family? Do you feel encouraged to do better by your losses and failures?

If you respond yes to all these questions, then you have what it takes to be a success like Henry Sy.

About the Author:

Dr. Michael G. Rayel — author, game inventor, and psychiatrist — has created the Oikos Game Series to promote
emotional health and A 31-Day Series to help kids and teens. Since 2005, he has published Oikos’ Insights!
www.oikosinsights.com as an online resource for personal development. Visit www.oikosglobal.com for more info. Also,
he has offered psychiatry board review for ABPN II. Visit www.psychedu.com for details.

*Secrets Of Henry Sy’s Success

by ASKSonnie | Filipino Entrepreneurs | 12 Comments

I bumped into this article from the company’s intranet portal, effort has been made to provide the URL of the article
from Philstar but unsuccessful.

Written by Wilson Lee Flores, 20 May 2007

Source: Philippine Star-Sunday Life

We were born to succeed, not to fail. — Henry David Thoreau

Whatever you vividly imagine, ardently desire, sincerely believe, and enthusiastically act upon… must inevitably come
to pass! — Paul J. Meyer

Congratulations to inspiring rags-to-riches SM Group of Companies and Banco de Oro universal bank founder Henry Sy.
He recently received an honorary doctorate in Business Management from the University of Guam, in a simple but
elegant dinner ceremony at the Quezon Function Room of Shangri-La Makati on May 10. The event was attended by
close family members and several top SM Group officials. The University of Guam was represented by its president
Harold Allen and other top officials.

Read: 14 Worklife Principles of Henry Sr.

His less than two-minute speech was read for him by daughter Elizabeth “Betty” Sy, while the robust-looking and self-
effacing 83-year-old Sy greeted well-wishers. The menu for the intimate dinner included carpaccio of salmon and lapu-
lapu, wasabi mustard, baby greens with lemon oil vinaigrette, cream of herb with wild mushroom wonton, sea bass with
basil and black olive tapenede, oven-roasted potatoes and tempura asparagus, and desserts included fresh fruits with
mango ice cream and pistachio biscotti.

Like pioneer industrialist and monopoly-buster John Gokongwei Jr. of JG Summit Holdings, Cebu Pacific Air and Sun
Cellular, I have had the privilege of personally knowing Henry Sy since my college years. I have followed their careers the
way kids enthusiastically follow the careers of NBA athletes or their favorite Hollywood stars.

Read: Henry Sy: Dreams Can Be Realized

Here are some of what I believe to be the secrets to Henry Sy’s phenomenal success as the wealthiest billionaire of the
Philippines (ranked by Forbes magazine):

1. Humility. Henry Sy has always been a man of few words and disarming humility. I remember when his Podium mall
was newly opened near SM Megamall, he invited me to have merienda and then dinner in two restaurants. I was with
him for five hours, but he spoke very little; I had to coax him to tell me his fascinating stories. He reminds me of an East
Asian ancient philosopher who spoke little but had great gems of wisdom. He has reportedly never been seen expressing
anger in public.

Likewise: What Does It Mean To Ordinary Filipinos?

2. Ability to find and use good talent. I have never done business with Henry Sy, or ever asked a favor of any kind. But
once, when I was starting in the business of building and selling middle-class houses in Quezon City after college, I sold
him a small number of China Bank stocks which my late grandfather had bought in 1920, passed on to my late dad. Sy
bought those shares at the market price quoted in the stock market, and even asked me for a discount!

Amazingly, even if Sy has since gained control of China Bank by patiently buying stocks through the years, he has chosen
to maintain the separate corporate identity of this respected institution and even allowed the original founding family to
continue managing it professionally and so profitably. Even in his other companies, he knows how to utilize the best
professional talent to help his entrepreneurial family run diverse businesses.

3. Traditional Confucian values. Henry Sy has maintained traditional Confucian values of hard work, frugality, discipline,
love of study, self-sacrifice for the family welfare and harmonious social relationships. He has said: “The SM business
model is anchored on hard work, focus, determination and the ability to take risks and make bold calls. We are guided
by this set of principles and core values.”

It was only a few years ago that he finally agreed to move to a new but simple bungalow in North Forbes, Makati. He
told me it was his eldest daughter Tessie who received his check to purchase the lot, and the kids who built his home.
For decades, he and his wife stayed in a Makati condominium where one of his hobbies is cooking.

Likewise: Filipino Entrepreneurs On Customer Delight

4. Good strategic planning. “I am hands-on and personalized in my management style. I do not do things on impulse. I
think long and hard about every project,” says Sy.

5. Wife and children. The not-so-secret “secret weapons” Henry Sy has had in building up and running his dynamic and
vast SM Group are his wife Felicidad Tan-Sy and his five workaholic children Tessie, Betty, Henry Jr., Hans, Herbert and
Harley. His wife’s younger brother Dr. Paulino Y. Tan helps run his Asia Pacific College, in which America’s IBM has a
significant minority stake.

6. Focus. Henry Sy has chosen to focus and build on his main business of retailing. He expands to other industries, but
most of them are related to, or support, his retail interests such as banking (his Banco de Oro, Equitable PCIBank and
China Bank and credit cards support retail tenants and consumers), real estate, movie cinemas, tourism and others.

7. Bold risk-taker. Old friends Philip Cuazon, Jimmy Tang and James Uy recounted that in the ‘70s, when Henry Sy
acquired a huge lease on Makati land, Ayala Group executives were said to be surprised by the boldness of this young
retailer from Carriedo, Manila. When Ninoy Aquino was assassinated in 1983, Henry Sy persevered. He has been able to
build the biggest pioneering shopping mall of SM North Edsa in Quezon City. Even as Gringo Honasan was leading his
bloody 1989 military coup, Sy was completing SM Centerpoint in Santa Mesa, Quezon City.
When there was nothing in the Manila Bay reclamation area, and even though its location was not at the crossroads of
traffic, Henry Sy, a bold risk-taker, bought land there and confounded skeptics by constructing the enormous seaside SM
Mall of Asia even while President Gloria Macapagal Arroyo was hounded for two years by the “Hello, Garci” scandal.

Likewise: John Gokongwei's Nine Rules of Success

8. Long-range strategic vision. In the postwar era, during buying trips to the US, Henry Sy noticed that shopping centers
were booming there; the shoe retailer already envisioned that one day he would build similar shopping centers in the
Philippines. Despite his quiet appearance, Sy is a determined entrepreneur who told me that he has always envisioned
himself to be No. 1 in whatever endeavors he undertakes.

At the recent dinner where he received an honorary doctorate from University of Guam, Sy said, “Behind SM stores,
malls, properties and banks, our story in SM is one of vision — one that is fueled by a constant drive to innovate, raise
the bar and create values that redefine consumer experience. It is about constant service and quality concepts that
transform people and their environment.”

9. Good reputation. Throughout East Asia, honor is often regarded as more important than wealth or power. In the
Hokkien dialect of Fujian province in southeast China where Henry Sy was born and spent his childhood, shinyong refers
to the old-fashioned value of “trustworthiness” — the same phrase used for the word “credit.”

Henry Sy has impeccable shinyong, not only within the business community, but even in his dealings internationally. At
the University of Guam ceremony conferring Sy an honorary doctorate, Guam’s American business leader Ken Jones
stood up to make a speech recounting his uninterrupted, harmonious and reliable business dealings with the SM
founder since 1954. Henry Sy said, “In life and in business, you need to be goodhearted and trustworthy. This is the way
to build long-term relationships.”

10. God’s blessings. Henry Sy and his deeply religious wife Felicidad Tan-Sy also attribute their success ultimately “to
God’s blessings,” despite what others might call fate, destiny, good karma or so-called good luck.

Executive Profile*

Henry S. Sy Sr.

Chairman Emeritus,SM Prime Holdings, Inc.

This person is connected to 45 board members in 7 different organizations across 12 different industries.

Background*

Mr. Henry S. Sy, Sr., is the Founder of SM Development Corp. Mr. Sy has been Advisor to the Board at China Banking
Corporation since 1997. He served as an Advisor to the Board of China Banking Corporation. He served as the Chairman
and President of SM Keppel Land, Inc., SM Development Corporation and Keppel Philippines Holdings Inc. He served as
the Chief Executive Officer at SM Prime Holdings Inc. of SM Investments Corp. since 1994. Mr. Sy opened the first
ShoeMart ...

Read Full Background

Corporate Headquarters*

Mall of Asia Arena Annex Building

Pasay City, -- 1300

Philippines
Phone: 63 2 831 1000

Fax: --

Board Members Memberships*

Founder, Non Exec. Chairman

SM Development Corporation

Chairman

SM Land, Inc.

1960-Present

Chairman Emeritus

SM Investments Corporation

1994-Present

Chairman Emeritus

SM Prime Holdings, Inc.

2002-Present

Chairman

Highlands Prime Inc.

Education*

Honorary Doctorate

De La Salle University, Incorporated

AA

Far Eastern University, Institute of Law

Other Affiliations*

San Miguel Corporation

Keppel Philippines Marine Inc.

Keppel Philippines Holdings, Inc.

Republic Glass Holdings Corporation

SM Prime Holdings, Inc.

SM Development Corporation

Keppel Philippines Properties, Inc.

SM Land, Inc.

BDO Unibank, Inc.

Highlands Prime Inc.

SM Investments Corporation

De La Salle University, Incorporated

Far Eastern University, Institute of Law

Annual Compensation*

There is no Annual Compensation data available.

Stock Options*

There is no Stock Options data available.

Henry Sy's successor shares 5 rules to success

Liza Reyes, ABS-CBN News

Posted at May 20 2017 09:30 AM | Updated as of May 20 2017 02:08 PM

SM Investments Corp chairman Jose Sio. Jonathan Cellona, ABS-CBN News

MANILA (UPDATED) - The country's richest man, Henry Sy, has handed over leadership of SM Investments Corp to one of
his most trusted aides, former chief finance officer Jose Sio.

In an exclusive interview with ABS-CBN News, Sio shares 5 rules in life that helped him climb up the leadership ladder in
the country's biggest mall, banking and real estate empire.

- "First rule, I should accept that you and I are different persons. Therefore I should not expect you to behave the way I
want you to behave. At the same time, if you accept that, then you can go anywhere, meet anybody without any
problems."

- "Second, in anything that I do, I should do the best that I can. Because good is not good enough. If you follow this, then
over time, you will be ahead of the rest."

- "Third, we should accept that life is a series of struggles. Today we’re here. Mamaya we do not know what will happen.
So we should be ready. If you accept this, then it is easier for you to face the problems. You can accept the challenges of
life. The question is, how do you manage when that time comes? Problems come in your life.Managing it is the key."

- "Fourth, I should be happy. Happiness prolongs your life. Your inside mechanism should run smoothly. If you’re happy
you also produce better results. Question there is, how do you define happiness? Is it money? Yes. But then money can
only provide you food, clothing, shelter. Beyond that money is just like anything. We are just custodians while on this
earth. What makes us happy? Is it power, fame? Yes. But we have limited time. We should be happy with what we are
and what we have just like the Dalai Lama."

- "Fifth. Love your God. Bottomline, there is somebody out there. Question is how do you love your God? To me it's
prayer. How do you pray? It's an act of faith. To me true prayer is your personal conversation with God. Everyday. Thank
Him for all blessings, tell him your problems, ask for guidance, because at the end of the day, His will be done."