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News and Events

SM in Talks to Buy Goldilocks Minority Stake Months After Backing Out of Acquisition Deal

The conglomerate is eyeing to buy a 34% stake in the country's largest bakeshop chain

Listed retail and real estate conglomerate SM Investments Corp. is in talks to acquire a 34-percent stake in bakeshop and restaurant chain Goldilocks Bakeshop Inc., according to a report by the Philippine Daily Inquirer.“A spokesperson from SM confirmed to the Inquirer that ...

by Lorenzo Kyle Subido  | August 13, 2018 12:00:00
News and Events

Christmas in July: Who's Getting a Bulk of Php2.1-B Dividend that Ayala Corp is Paying Out?

The country's longest-existing business house was scheduled to distribute dividends on July 22

The peso may be falling and the stock market outlook remains under a cloud after the benchmark Philippine Stock Exchange Index (PSEi) turned bearish in early July amid global and domestic uncertainties.However, shareholders of listed Ayala Corp., the country’s longest-standing business group ...

by Pauline Macaraeg  | July 23, 2018 08:00:00
News and Events

How SM's Henry Sy Started with Ten Centavos and Became Southeast Asia's Richest Man

SM is celebrating its 60th anniversary this year

Henry Sy opened the first Shoemart in 1958 after he had saved enough from selling surplus G.I. boots. Little did he know that 60 years later his small store would become the behemoth that it is today. From a small shoe store ...

by Paolo Chua for TownandCountry.ph  | June 05, 2018 12:00:00
News and Events

SM At 60: How a Humble Shoe Store Became a Global Conglomerate

Tessie Sy-Coson looks back at his father Henry Sy's life's work

In 1958, humble shoemaker Henry Sy Sr. opened the countryâs first Shoemart branch in Manila.The business owner never imagined how big of a retail giant his unassuming shoe store would become. Or that he would be the richest man in Southeast Asia ...

by Hannah Lazatin for TownandCountry.ph  | May 29, 2018 12:00:00
News and Events

How Did Henry Sy's Net Worth Grow to $20 Billion?

A close look at the listed corporate holdings of the Philippines’ richest person

SM group founder Henry Sy Sr. had a net worth of $20 billion as of February 2018, according to business magazine Forbes’ latest listing of the world’s dollar billionaires. That not only extended his title as the richest man in the Philippines, ...

by Lorenzo Kyle Subido  | March 12, 2018 09:00:00
News and Events

Henry Sy Sr. is Biggest Billionaire Not Just in PH But in Southeast Asia

The SM Group founder is richer than the heads of Japan’s Uniqlo and of South Korea’s Samsung

Henry Sy Sr., 93, remains the country’s richest Filipino for the 10th year in a row as he leads the 12 Filipinos who made it to the exclusive 2018 Forbes World’s Billionaires List, released on March 6, Tuesday.Sy ranked at 52nd place among the ...

by Elyssa Christine Lopez  | March 07, 2018 01:00:00
News and Events

Group Backed by Henry Sy Sr. and Wilson Tieng Submits $12-B Plan to Build New Int’l Airport in Cavite

Proposal aims to construct a facility enough for 120 million passengers on land reclaimed from Manila Bay

The proposal aims to build a whole new airport at Sangley Point in CaviteA consortium supported by the Philippine’s richest man, Henry Sy Sr., and businessman Wilson Tieng have submitted an unsolicited $12-billion (Php622 billion) proposal to build a new airport in ...

by Elyssa Christine Lopez  | March 05, 2018 05:00:00
News and Events

Why Did SM Withdraw Its Bid to Take Over Goldilocks Bakeshop?

This comes less than a month after the Philippine Competition Commission approved the takeover

SM Group’s property and retailing unit SM Retail Inc. has withdrawn its acquisition bid over bakeshop and restaurant chain Goldilocks Bakeshop Inc. on Thursday, February 1.“Regarding the proposed acquisition by SM Retail of Goldilocks, both SM and Goldilocks have jointly agreed not ...

by Pauline Macaraeg  | February 01, 2018 03:00:00
News and Events

SM, Robinsons or Puregold: Who's the Biggest Supermarket Chain of Them All?

The answer depends on the year and whether you just look at single firms or the entire group

In August 2017, international grocery market analyst IGD projected that the Philippines will become the fifth largest grocery retail market in Asia by 2021, after China, India, Japan and Indonesia. With grocery retail sales already at Php4.5 trillion in 2016, IGD estimated ...

by Lorenzo Kyle Subido  | January 22, 2018 09:00:00
News and Events

How Did Top PH Billionaires' Holding Firms Fare at the Stock Market in 2017?

Share prices rose for nine out of 10 companies of the country's wealthiest people

If you had bought shares in the main holding companies of the country’s 10 richest tycoons at the start of the year, you’d be celebrating now that 2017 has come to a close. More than two-thirds of the stocks climbed over 20 percent ...

by Lorenzo Kyle Subido  | January 02, 2018 02:00:00
News and Events

How Would PH Billionaires Fare if They Were Part of Forbes’ 400 List of Richest People in America?

Henry Sy Sr. would land on the 25th spot while John Gokongwei Jr. would be 97th in the US rankings

Forbes magazine released the 2017 Forbes 400 list of the wealthiest people in America in October. Bill Gates led the 36th edition of the annual list with a net worth of $89 billion, followed by Jeff Bezos with $81.5 billion.The minimum net ...

by Pauline Macaraeg  | November 27, 2017 01:00:00
News and Events

Sys, Zobels Retain Spots in Asia’s 50 Richest Families but Aboitizes Leave Exclusive List

The 50 Asian families who made the list have a combined net worth of $700 billion

Two Filipino clans made it to the list of Asia’s 50 Richest Families, which was released by business magazine Forbes earlier this week.The Sys ranked ninth in the list with a net worth of $20.1 billion, a 63.4-percent increase from $12.3 billion ...

by Lorenzo Kyle Subido  | November 16, 2017 11:00:00
Startup Tips

Dad and Me: Children of Leading PH Tycoons Recall Lessons from Their Fathers

Apart from building business empires, these moguls also served as inspiring teachers to their children

Many of the Philippines’ largest business conglomerates today were founded after World War II by pioneering entrepreneurs who foresaw the vast potential ahead as the country emerged from colonial rule and war.Currently serving as strong pillars of the economy, these enterprises, which ...

by Elyssa Christine Lopez and Lorenzo Kyle Subido  | June 18, 2017 10:00:00
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