Jeffrey Lim: At the forefront of SM’s success

MANILA, Philippines - The country’s wealthiest man Henry Sy Sr. has mastered the art of turning something small into something big.

Sy was able to make a shoe store in Quiapo grow into a mall empire that has become one of the most iconic brands in the country today.

Sy’s SM has likewise been instrumental in the ascent of Jeffrey Lim, SM Prime Holdings Inc. executive vice president and SM Development  Corp. president.  

The man who has been contented to stay in the company’s backdrop in the past has now emerged at the forefront of SM’s success. Lim’s story is a testament that hard work truly pays off.

From his family’s humble beginnings in Tawi-Tawi, Lim worked hard on his way to the  top of the corporate ladder to become the second in command of the country’s largest property firm in terms of market value.

Along with that also came the respect and admiration of the business community for his dedication and skills as a chief finance officer, paving the way for his recognition as  ING-Financial Executives’ Institute of the Philippines chief executive officer (CFO) of the year in 2012.

“From where I came from, you just have to work hard. I guess there is no substitute for that. At the same time I think I was also lucky because of the opportunities that came my way. But even if you have the opportunities, if you’re not able to deliver and work on that opportunity, it’s not going to come to you successfully,” Lim told The STAR in an interview.

“When I started working (in a different company), I was assigned menial tasks. I was asked to photocopy papers, deliver letters to banks, and at times, I also served as a driver to my boss. To some it was discouraging but for me, it was all part of the job,” he narrated.

Lim’s unrelenting hard work and passion for his job fitted perfectly with the Sy family, whose mantra happened to be similar with that of their now 53-year old executive.   

“Hard work, focus and be results oriented. Those are some of the family values I’ve learned from the Sy family which the siblings follow. If you have a strategic program, you have to focus and you have to work hard for that objective and at the same time, you have to make sure that results would happen. Otherwise, we will not be where we are now without these values,” Lim said.

He got it all for you

SM Prime has indeed soared to great heights, and is continuing to scale up at present.

But staying ahead of the competition is no easy task, and the group will need a mix of skills and years of experience that only someone like Lim can deliver.   

“It’s being more proactive rather than being defensive. It’s not enough that we’re this big, you have to continue to improve. If you look at the scale, we may be big in the Philippines but if you compare us to companies in Hong Kong or Singapore, even in Malaysia, we still have plenty of room to grow. So we have to continue to improve so that we can compete globally also,” Lim said.

Lim was already at the helm when SM’s property group successfully embarked on a full consolidation in 2013.

Prior to that, he started his career in the SM empire as a vice president for finance then saw his role expand and grow year after year.

“I had to handle the other aspects such as business development, information technology, even investor relations. Except for the construction side, it was like I was running all the departments. It is actually good for me in the sense that in the years that passed I was able to develop myself in terms of how to look at the business strategically,” Lim said.

In his younger days, Lim said it had never crossed his mind that he will be working one day for a company, much more something as large as SM.

For Lim, his dream has always been to become a lawyer.

“There’s no regret on my part. Getting to where I am now is for me a blessing. There is no point in regretting things that may have happened. I guess in a way I found out this is my calling,” Lim said.

“I began thinking like an owner,” he said referring to how he gained not only the respect but also the trust of the Sy family.

“I think that is actually a key for professionals to be able to evolve and progress because if you think like an owner, you are able to make decisions as if the company is your own and if you are given the leeway to decide, I think most of the time you will make the right decisions,” Lim said.

The good guys

Despite the recognition, Lim did not allow the success to get into him in anyway as he has managed to stay humble, soft-spoken, approachable, and as dedicated in his work as ever.

Lim admitted he became more popular after winning the CFO of the year award in 2012 but the native of Tawi-Tawi opted to use his success to continue promoting and advocating sustainability activities of the SM Group. 

“Now, it’s not just about the results and about the numbers anymore, we have to think beyond that in terms of how we impact the communities that we do business with. That’s why we have corporate social responsibility activities and sustainability projects that will help the communities. Apart from just working on climate change, we also try to emphasize more on disaster preparedness and disaster risk reduction,” Lim said.

“We also become the catalyst of development when we go to provincial areas in terms taxes, employment and how it will contribute to the economy of a certain city. We believe that it can be done in compliant with environmental requirements that will trickle down to benefit of many,” he added.

This year, ING-FINEX is again on the lookout for a CFO like Lim who has made a difference in his or her role and has stood out from the rest of the pack.