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10 secrets of Henry Sys successBy Wilson Lee Flores, 20 May 2007

Source: Philippine Star-Sunday Life

We were born to succeed, not to fail Henry David Thoreau

Whate!er you !i!idly i"a#ine, ardently desire, sincerely belie!e, and enthusiastically act

upon "ust ine!itably co"e to pass$ Paul J. Meyer

Congratulations to inspiring rags-to-riches SM Group of Companies and Banco de Oro

universal bank founder Henry Sy. He recently received an honorary doctorate in Business

Management from the niversity of Guam! in a simple but elegant dinner ceremony at

the "ue#on $unction %oom of Shangri-&a Makati on May '(. )he event *as attended byclose family members and several top SM Group officials. )he niversity of Guam *as

represented by its president Harold +llen and other top officials.

His less than t*o-minute speech *as read for him by daughter ,li#abeth Betty Sy!*hile the robust-looking and self-effacing /0-year-old Sy greeted *ell-*ishers. )he

menu for the intimate dinner included carpaccio of salmon and lapu-lapu! *asabimustard! baby greens *ith lemon oil vinaigrette! cream of herb *ith *ild mushroom

*onton! sea bass *ith basil and black olive tapenede! oven-roasted potatoes and tempura

asparagus! and desserts included fresh fruits *ith mango ice cream and pistachio biscotti.

&ike pioneer industrialist and monopoly-buster 1ohn Gokong*ei 1r. of 1G Summit

Holdings! Cebu 2acific +ir and Sun Cellular! 3 have had the privilege of personally

kno*ing Henry Sy since my college years. 3 have follo*ed their careers the *ay kidsenthusiastically follo* the careers of 4B+ athletes or their favorite Holly*ood stars.

Here are some of *hat 3 believe to be the secrets to Henry Sy5s phenomenal success asthe *ealthiest billionaire of the 2hilippines 6ranked by $orbes maga#ine78

1. Humility.Henry Sy has al*ays been a man of fe* *ords and disarming humility. 3remember *hen his 2odium mall *as ne*ly opened near SM Megamall! he invited me to

have merienda and then dinner in t*o restaurants. 3 *as *ith him for five hours! but he

spoke very little9 3 had to coa: him to tell me his fascinating stories. He reminds me of an

,ast +sian ancient philosopher *ho spoke little but had great gems of *isdom. He hasreportedly never been seen e:pressing anger in public.

2. Ability to find and use good talent.3 have never done business *ith Henry Sy! orever asked a favor of any kind. But once! *hen 3 *as starting in the business of building

and selling middle-class houses in "ue#on City after college! 3 sold him a small number

of China Bank stocks *hich my late grandfather had bought in ';

+ma#ingly! even if Sy has since gained control of China Bank by patiently buying stocks

'

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through the years! he has chosen to maintain the separate corporate identity of this

respected institution and even allo*ed the original founding family to continue managing

it professionally and so profitably. ,ven in his other companies! he kno*s ho* to utili#ethe best professional talent to help his entrepreneurial family run diverse businesses.

3. Traditional Confucian values.Henry Sy has maintained traditional Confucian valuesof hard *ork! frugality! discipline! love of study! self-sacrifice for the family *elfare and

harmonious social relationships. He has said8 )he SM business model is anchored on

hard *ork! focus! determination and the ability to take risks and make bold calls. ?e areguided by this set of principles and core values.

3t *as only a fe* years ago that he finally agreed to move to a ne* but simple bungalo*

in 4orth $orbes! Makati. He told me it *as his eldest daughter )essie *ho received his

check to purchase the lot! and the kids *ho built his home. $or decades! he and his *ifestayed in a Makati condominium *here one of his hobbies is cooking.

4. ood strategic !lanning.3 am hands-on and personali#ed in my management style. 3

do not do things on impulse. 3 think long and hard about every pro@ect! says Sy.

". #ife and c$ildren.)he not-so-secret secret *eapons Henry Sy has had in buildingup and running his dynamic and vast SM Group are his *ife $elicidad )an-Sy and his

five *orkaholic children )essie! Betty! Henry 1r.! Hans! Herbert and Harley. His *ife5s

younger brother Ar. 2aulino . )an helps run his +sia 2acific College! in *hich+merica5s 3BM has a significant minority stake.

%. &ocus.Henry Sy has chosen to focus and build on his main business of retailing. He

e:pands to other industries! but most of them are related to! or support! his retail interestssuch as banking 6his Banco de Oro! ,=uitable 2C3Bank and China Bank and credit cards

support retail tenants and consumers7! real estate! movie cinemas! tourism and others.

'. (old ris)*ta)er.Old friends 2hilip Cua#on! 1immy )ang and 1ames y recounted that

in the D(s! *hen Henry Sy ac=uired a huge lease on Makati land! +yala Group

e:ecutives *ere said to be surprised by the boldness of this young retailer from Carriedo!Manila. ?hen 4inoy +=uino *as assassinated in ';/0! Henry Sy persevered. He has

been able to build the biggest pioneering shopping mall of SM 4orth ,dsa in "ue#on

City. ,ven as Gringo Honasan *as leading his bloody ';/; military coup! Sy *as

completing SM Centerpoint in Santa Mesa! "ue#on City.?hen there *as nothing in the Manila Bay reclamation area! and even though its location

*as not at the crossroads of traffic! Henry Sy! a bold risk-taker! bought land there and

confounded skeptics by constructing the enormous seaside SM Mall of +sia even *hile2resident Gloria Macapagal +rroyo *as hounded for t*o years by the Hello! Garci

scandal.

+. ,ong*range strategic vision.3n the post*ar era! during buying trips to the S! Henry

Sy noticed that shopping centers *ere booming there9 the shoe retailer already envisioned

that one day he *ould build similar shopping centers in the 2hilippines. Aespite his =uiet

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appearance! Sy is a determined entrepreneur *ho told me that he has al*ays envisioned

himself to be 4o. ' in *hatever endeavors he undertakes.

+t the recent dinner *here he received an honorary doctorate from niversity of Guam!Sy said! Behind SM stores! malls! properties and banks! our story in SM is one of vision

E one that is fueled by a constant drive to innovate! raise the bar and create values that

redefine consumer e:perience. 3t is about constant service and =uality concepts thattransform people and their environment.

-. ood re!utation.)hroughout ,ast +sia! honor is often regarded as more importantthan *ealth or po*er. 3n the Hokkien dialect of $u@ian province in southeast China *here

Henry Sy *as born and spent his childhood! shinyong refers to the old-fashioned value of

trust*orthiness E the same phrase used for the *ord credit.

Henry Sy has impeccable shinyong! not only *ithin the business community! but even inhis dealings internationally. +t the niversity of Guam ceremony conferring Sy an

honorary doctorate! Guam5s +merican business leader Fen 1ones stood up to make a

speech recounting his uninterrupted! harmonious and reliable business dealings *ith the

SM founder since ';. Henry Sy said! 3n life and in business! you need to begoodhearted and trust*orthy. )his is the *ay to build long-term relationships.

10. ods blessings.Henry Sy and his deeply religious *ife $elicidad )an-Sy also

attribute their success ultimately to God5s blessings! despite *hat others might call fate!

destiny! good karma or so-called good luck.

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