Karl Sebastian Devera

Entrepreneur name: HENRY SY

Summary
Henry Tan Chi Sieng Sy Sr. (Chinese: 施至成; pinyin: Shī Zhìchéng; Pe̍h-ōe-jī: Si Chì-sêng; October 15, 1924 –
January 19, 2019) was a Chinese-Filipino business magnate and philanthropist known for his involvement in the
Philippines' retail industry.

Born in Fujian, China, he moved with his family to the Philippines at age 12. While his family returned to China, he
stayed behind and founded ShoeMart, a small Manilla shoe store, in 1958. Over the decades he developed ShoeMart
into SM Investments, one of the largest conglomerates in the Philippines, including 77 SM malls in the Philippines
and China, 62 department stores, 56 supermarkets and over 200 grocery stores. SM also owns Banco de Oro, the
second-largest bank in the Philippines, and real estate holdings.

For eleven straight years until his death, Sy was named by Forbes as the richest person in the Philippines. Upon his
death on January 19, 2019, his estimated net worth amounted to US$19 billion, making him the 53rd-richest person
in the world.

Reasons
In his twenties, Henry Sy became a store manager working for an American business involved in the local shoe
industry in the Philippines; he opened his first sole-proprietorship store in Quiapo, Manila in 1948.He opened at
least three shoe stores in the Carriedo area which was then known for its heavy pedestrian traffic. His decision to sell
shoes was due to the losses his family experienced in World War II thinking that everyone would need shoes
following the aftermath of the war.

He sold surplus G.I. boots and saved finances before he established ShoeMart in 1958, his own small shoe store in
Quiapo, that marked the beginning of SM Prime. He later encountered difficulties in sourcing shoes locally and
decided to import shoes from outside the country.

Sy became involved in the banking industry when he acquired Acme Savings Bank (later renamed Banco de Oro or
BDO) in 1967.

In November 1972, he opened SM Quiapo, SM's first stand alone department store, and entrusted his 22-year-old
daughter Teresita to run the store. On November 8, 1985, he established his first SM Supermall, SM City North
EDSA.In the early 1990s, SM started opening more shopping malls with the setting up of two malls in Metro Manila
and a solitary mall in Cebu City. SM Prime Holdings was incorporated in 1994 and went public.

Obstacle survived
He had many obstacles – both external and internal – in his business, and there were times he could not understand
why things had to be so complicated for him to pursue his business objectives.

It has been written – and I can attest that it is true – that Henry Sy started from the bottom

he came to the Philippines at the young age of 12, and worked in his father’s small sari-sari store more than 12 hours
everyday to help him, WWII came and 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.

This must have provided him the hands-on training for his stamina in business. At one time, he was hit by shrapnel
while selling, and quite fortunately was brought to the hospital by his good friend in a kariton.

Without that friend, he could have bled to death. He treasured that friendship and later expressed his gratitude after
the war by making that friend his partner in a shoe store. The partnership lasted for more than 40 years until the shoe
store had to give away to the building renovations of the lessor.

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Competitors
SM's top 9 competitors are Ayala, Globe, Vingroup, PLDT, Cable ONE, Consolidated Communications, Central
Group, Masan and FLC Group.

Entrepreneur name: Mariano Que

Summary
The Mercury Drug founder, initially worked as an employee of a drug store chain during the pre-war era. After the
devastation of World War II, Que knew Filipinos needed Sulfiathiazole – a "miracle" drug used to cure many
diseases and illnesses.

But since pharmacies that time hardly sold Sulfiathiazole, Que then decided to invest his P100 to buy the drug and
sell these in single doses to reach the poverty-stricken communities.

Selling Sulfathiazole by individual pieces, Que was able to save enough to open up the first outlet of Mercury Drug
in Bambang, Manila on March 1, 1945.

Que set himself apart by building a reputation for quality products and fair prices in a market that was filled with
sellers who sometimes sold fake, expired, out of date, or even dangerous medicines at exorbitant prices.

Reasons
With the city in ruins after the Japanese occupation, Que knew Filipinos would need medicine. Having worked in a
drugstore prior to the war, Que sold medical vials and capsules until he saved enough money to pocket a bottle of
sulfathiozole pills. It was the miracle drug that made Mercury Drug.

Obstacle survived
He was not born rich like other successful entreprenuers. Que came from humble beginnings. As a survivor of
World War II, he was orphaned and was deprived of the chance to study early on.

Competitors
Mercury Drug's top 7 competitors are GA2 Pharmacy, TGP, Muramed, Rosepharmacy, Cedra Pharmacy, Aureus
and Total Care R

Comparison to self
I think the comparison or similarity that Henry Sy, Mariano Que and I have is that even though things get tough, we
never give up.

One example is that, when I was younger, I grew up besides my grandmother, she is a teacher by profession. Due to
life’s hardship, my parents cannot support raising me so in order for me to grow up and be raised properly, my
grandmother took me in and enrolled me to the school that she works in. when I turned at the age of 14, my
grandmother stopped teaching or working due to old age at the age of 65, but then her relatives such as her kids and
grandkids appeared and wasted all her retirement money and then that’s why she decided to advance her pension for
5 years for me and my schooling, but it was not enough and got shorted because her relatives didn’t stopped until
she had no money left anymore. Because of that, I needed to find work at an early age in order to support myself,
my grandma and my studies. After going to school at 2 pm, I start working for 3 hours at the mineral station by

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refilling bottled waters, and then by 6 pm I work as a helper in a “carinderia” in order to be able to pay my monthly
dues and tuitions, but due to the hardship that I keep facing, my grandmother pitied me, and we talked and she told
me that she wants to go to her province “Bohol” and she promised me that after 5 years we will meet again. So, I
lived alone in our house, without any electricity, light and water. Only a wooden sofa was left in the house because
everything else in the house such as the appliances and other things was pawned or was “sanla” in order to be
added to the money that will be used in the fare going to bohol. After I finished grade 11, for almost 1 year, I was
alone in Malolos, Bulacan. So, I decided to stop stopped schooling for 2 years and go to my aunty in Bagong Barrio
in order to find work. Then when I was able to save up money, I continued my schooling and enrolled as an irregular
grade 12 in Bagong Barrio Senior High School.

And even up to now, even if things are still hard, I’m still fighting and I’m still not giving up just like how Henry Sy
never gave up when he faced his life obstacles such as starting from the bottom, his sari sari store being burned from
the war, or just like how Mariano Que never let poverty and the devastation of war stop him.