MANILA, Philippines — “Titan of hard work and compassion.”
Such was how SM Development Corporation (SMDC) President Jose Mari Banzon described SM's “remarkable” founder, “Tatang” Henry Sy Sr., at his speech before the fan meet of SMDC endorser Lee Min Ho in SMX Convention Center, Pasay City, last Sunday.
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Banzon shared that this month, the company does not only mark SM’s 65th anniversary, but also the birth month of the retail giant’s founder.
“Tatang’s mission of helping his fellow Filipinos is instilled in every part of SM,” Banzon enthused.
“At SMDC, we stay true to this mission by providing Filipinos with homes that marry luxury, accessibility and convenience,” added Banzon, highlighting the company’s recent back-to-back achievement as the country’s Property Developer of the Year for two years in a row, from 2022 to 2023, at DOT Property Philippines Awards.
“This award affirms our commitment of providing Filipinos with a home they can be proud of.”
Born in Fujian, China, Sy Sr. moved to the Philippines at 12 years old together with his family. While his family later returned to China, Sy stayed behind and founded ShoeMart in 1958.
From a small shoe store in Manila, ShoeMart, now known as SM, has since grown into SM Investments, one of the country’s biggest conglomerates with 49 malls and counting in the Philippines and China, alongside more than 60 department stores, 50 supermarkets, and 200 grocery stores. SM also owns the country’s second biggest bank, Banco de Oro, and real estate holding SMDC.
For 11 straight years until Sy’s death at 94 years old on January 19, 2019, he was the country’s richest person with an estimated net worth of US$ 19 billion (over P1 trillion), according to Forbes.
“We are privileged to be part of something greater. We are a part of a legacy that spans decades – a legacy built on trust,” Banzon said of Sy Sr.’s legacy.
“Together, we will build new dreams, nurture businesses and inspire more generations to come.”
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