Introduction:

Henry Sy was born in Xiamen, in China in October 1924. Henry Sy was not born with
the silver spoon in mouth. Since a toddler, he had aimed to become the best
businessman, so went to try his luck in other countries. At the age of 12, he went to
Philippines to change the miserable life of his father in a foreign country.

He was always committed with his goal to get succeed. He did everything that helps
him to alleviate life and work hard till night

Earlier business:
Henry Sy. would buy goods from “Divisoria Flea market”. He carries all goods
on his back and then sells them in a small store of her father called (sari-sari).
When both going to close the store, they would sleep in a small space to makes
their way of living much better.
He decided to make some extra income, so he had no time to play with friends. World war-2 came and the store of his
father eventually burned and robbed. He did lots of selling and buying many odds things during war and helped his
family to survive. After the war, he ventured into purchasing American Shoes that were imported by the Enterprising
Gis.
Acquisitions of Banco De Oro:
Banco De Oro also made some acquisitions due to moratorium on banking. It acquires some banks like
United Overseas Bank branch, First eBank. Deo Heng Philippines, Banco Santander Philippines branch. The most
recent acquisition made by Banco De Oro is Equitable PCI bank.

Awards:
With all his achievements, Mr.Sy collected different awards. The detail of these awards is given below:

 Management Man of the Year in 1999 by Makati Business Club

 Honorary Doctorate in Business Management in January 1999 by “ Da La Salle
University”
 40-Riches Filipinos for the year 2008–2012
 Forbes Magazine Heros of Philanthropy
 1st Chinese-Flipone receipt of the “PRA President Awards” in 2005
SM Investment; Greater Achievement of Henry Sy:
SM Megamall is the world second largest shopping mall in the Philippines and the 9th largest mall in the world.
Sy’s family-owned SM investment is the holding venture for SM Retail and is the largest chain of departmental
stores of supermarkets.

Based on the 2018 Forbes World’s Billionaires, the estimated net worth of Sy is $20 billion. It is three times larger
than the upcoming fortune of the richest Tycoon.

In 2017, Sy stepped down as the chairman of SM investment Co. He gets the honorary title of “Chairman Emeritus”
as the recognition for the founder of SM group.

Future of SM mall:
Sy’ mall empire is riding on a rise of artificial intelligence with best robotic concierge. The white robots offer
information on proms, deals, and events from the adorable touch screen that is mounted on the chest. It also
replies via voice to the basic questions.

According to the chief operating officer “Steve Tan” told ABS-CBN news that:

“We believe that technology helps us in upgrading service. The SM group and the Sy family involve not
technology.”
Personal life:

Henry Sy. was married with “Fedicidas Tan”. She was a shoelace vendor. Both had six children. Henry Jr. and
Teresita are the recent vice-chairpersons of SM investment Co.

Death:
Henry Sy died at the age of 94 in his sleep. The body of a billionaire was discovered on 19 January 2019 in his
home. The funeral of great entrepreneur took place in Taguig at the Heritage Memorial park on January 24,
2019.

End words:
With the inspiring story of Henry Sy, you can learn about the ideals of success. The story of Henry Sy tells
us that never give up from a failure. Failure is the first step to success. According to Henry Sy, if you fail,
never discourage but try again. When you do something well, then never change your ways. Success is not
always good luck but is the combination of good credits standing hard work, time, readiness and
opportunity. Success will never last when you don’t take care of this precious wealth.
 Evolution of SM Mall:
He enrolled himself to a school. He gets graduation degree in commerce from
“Far Eastern University”. He sold overrun and rejected shoes. He wants to
change his life. He never gives up and always try hard to achieve the best
success. After failures in business, he stood back-up and attain a goal.

In 1958, he established a shoe store in Quiapo, Manila. The name of the store
was many shoes, leather goods, and accessories. He hopes to change the way
“Shoe Mart”. For the time, he was purchasing
of shoe manufacturer strategy.

He senses lots of opportunities that enable him to open Shoe Mart “SM” which the world first air-conditioned shoe
store. The store merchandise shoes in a classy and inviting format. With the best success story of the store, he decided
to open more stores. But his dream not came true because he was unable to get more suppliers. Most manufacturers
refuse to listen to him at that time. He did not cooperate with the volume that he needed. Because of these reasons, he
shifted gradually toward apparel and other merchandise with the help of her mother.

Learning from others:

Henry Sy Learn lots of innovative things from his suppliers, employees,and customers.
With intensive on-site job research, he got enough confidence to expand his business to the department store chain.
In life many needs are grow-out and to fulfills these needs, you should become determined. With strong determina
-tion, you can easily take some extra challenges and can easily be done things differently to get better success.
Problems occur during the construction of the first mall:

In 1972, he opened department store after two months of Martial laws. At the start, the business worked slow but
get succeed with time. He continued to open more exceeding departmental stores in such a way that one time came,
he had no space in exciting shopping centers. He thought about long-term goals.

On November 25, 1985, 1st supermall opened in the city of Quezon. Today there are 43-malls across the country
Philippines and the branches in China.

With lots of criticism and armed with the optimism and sheer determination, he opened supermarket,
departmental store, and tenants.

At the same time, the “Shoemart Makati” was faced with severe strikes. At that time, he was so disappointed, but his
employees and customer encourage him to proceed. At this difficult time, he never discourages and boosts his
confidence to continue his business. He was committed to achieving a valuable goal for an organization. He not only
convinces himself but also his team members to follow his enthusiasm.

Later on, the Henry Sy. focus to expand their business. The building was constructed slowly at the start. During
construction of the new building, delays in constructions because of cement shortage and coups of 1989.
During 1997, when the Asian crisis came, the team of Henry Sy. continued to plan an expansion of mall that includes
the “Mall of Asia” which was envisioned the biggest and most renowned mall in the region of Asia. But planning
stopped because Henry recognized the Tsunami-like effects in Asia. They went on progressively and open other
malls.

Expansion of business into different markets:

The business grew in numbers instead of the size and serving various more modest markets. The business also
expands from departmental stores to hardware stores, supermarkets, appliance superstore, and others.

As we mentioned above that Henry Sy. was one of the greatest bankers so he also looked into the banking
business. He established the “Banco de Oro” bank that was a medium-sized bank. The members of the business
Asian crisis:
were considered conservative in the lending process. The business strengthened and reorganize while developing
the best growth strategies that started working in 2000.

Encouragement:
He was encouraged by the “Consolidation program of Central bank of the Philippines”. Due to this
encouragement, he motivates to make the Philippines banks competitive relative to its area.
1. Henry Sy - He's the retail giant behind the SM Group of Companies and is also among Forbes.com's billionaire list with American bigwigs like publishing
tycoon William Hearst III, hotelier Richard Mariott, and media mogul Oprah Winfrey. The richest man in the country credits his success to "hard work, tenacity, frugality,
self-discipline, Confucian values, and an undying thirst for learning," according to Entrepreneur. "I don't give up on things easily," the 85-year-old says. "I look for
solutions to problems. I want to make things happen."

2. Lucio Tan - For many years, Lucio Tan's many business endeavors has made him the second-biggest taxpayer in the country. Tan built multiple empires in  a
number of industries--airline, banking, tobacco, liquor, and real estate--but surprisingly, the Chinese businessman’s lifelong dream was to be a scientist. "I was part of
a poor immigrant family, so I had to work harder than everyone," Tan tells Entrepreneur. "Perhaps I was really destined to be an entrepreneur, although up to now, my
childhood dream of studying science continues to fascinate me to no end."

3. John Gokongwei Jr. - John Gokongwei’s rags-to-riches story is one of the most inspiring tales in the local business scene. His humble beginnings more
than 60 years ago include selling soap on his bike and peddling goods in Cebu. Today, he's the chairman and founder of JG Summit Holdings, one of the biggest
conglomerates in the country. "You have to save money instead of spending all of it," Gokongwei tells Entrepreneur. "Look for areas [where] you can compete in. Work
damn hard. Most importantly, you have to love it."

4. Andrew Tan - Tan has yet to open the grocery store he dreamed of as a kid, but as the CEO of real estate giant Megaworld, he can "build one every week" if
he wants to, says Entrepreneur. Tan’s Megaworld Properties and Holdings is currently estimated at P30 billion, and its affiliate--Empire East Landholdings--is
considered one of the leaders in the property sector. His first business venture, the Consolidated Distillers of the Far East, is the third biggest distillery in Manila. "Most
entrepreneurs are good salesmen," says this accounting grad who graduated magna cumlaude. "But a good salesman, who is also good at numbers could also
become a good entrepreneur."

5. Tony Tan Caktiong - The chairman and CEO of Jollibee Food Corporation tells Entrepreneur that the country’s largest fast food chain started with just two
ice cream parlors in 1975. Today, the Jollibee group has grown to include Chowking, Greenwich, Red Ribbon, and Delifrance (the sale of which will be completed
within the year), and has expanded abroad. Soon, the group will also own 70 percent of Mang Inasal. Caktiong says, "The secret of Jollibee’s success is sharing. We
share our success with people; we give good compensation; we share any honor that comes our way."

6. Jose Concepcion Jr. - Concepcion is the chairman of RFM Corp., one of the leading food and beverage conglomerates in the Philippines. Established in
1958 as the Republic Flour Mills, the company has delved into agriculture, poultry, livestock, soft drinks, ice cream, fruit juice, and noodle manufacturing, among other
things. Concepcion is the father of eight entrepreneurs, all of which were groomed by him. In his Entrepreneur interview, the food and beverage tycoon emphasizes
the need to properly train the young so they develop the leadership skills necessary to run a business. "You don’t wait until you die before turning over the reigns," he
says.

7. Socorro Ramos - Even in her late 80s, the woman behind the country's oldest and largest bookstore chain is still working, and refuses to retire anytime
soon. Socorro Ramos opened the first National Bookstore in Escolta with her husband more than 60 years ago, and has established 70 more locations and employed
2,5000 employees since then. To date, Nanay Coring, as Ramos is otherwise known, has several accolades in her name: the Agora Award for Outstanding
Achievement in Entrepreneurship  in 1991,  Department of Trade and Industry's Outstanding Filipino Retailer Award in 2005, and Ernst & Young Entrepreneur of the
Year for the Philippines in 2005. "All my life I've never had a vacation, but I'm not complaining," Ramos says. "It's fun!"
8. Ben Chan - Retail mogul Ben Chan founded Bench with the intention of improving the quality of Manila's retail scene. Chan credits the clothing line's success
to a number of things: being picky about celebrity endorsers, having an adventurous attitude in advertising, and making a lot of mistakes along the way. "Sometimes
it's just a matter of the market not being ready," Chan tells Entrepreneur. "Other times we just didn't get it right. I look at these trials as lab work: you can't expect to get
the perfect formula on the first try, but then you're also smarter about what doesn't work and you know better the next time."

9. George Yang - "You have to think thrice before going into this business," master McDonald's franchisee George Yang tells Entrepreneur. It took him five
years to convince the All-American hamburger chain to do business in Manila, and competition was fierce when he finally opened the first McDonald's branch in 1981.
After all, he had to introduce the global brand to a local market that already had a long-standing favorite fast food chain. Yang says it wasn't easy, but with the help of
his son, Golden Arches president and CEO Kenneth Yang, the Filipino-Chinese entrepreneur says the key to his success was adapting to the local culture.