MANILA, Philippines – “Passion makes the impossible possible.”
Teresita Sy-Coson, the Vice Chairperson of SM Investments Corporation, remembered and paid tribute to her late father, Henry Sy Sr., the founder and driving force behind the establishment, growth, and development of "SM Malls," which is recognized as one of the prominent businesses in the entire country and Asia.
Almost every city or province in the Philippines has an SM mall. It seems that there is no Filipino who doesn't know or hasn't visited this mall.
According to Sy-Coson's Facebook post on October 26, it's been 65 years since her father started a small shoe store in a location in Manila.
She said, who would have thought that a small shoe store back then would become a giant mall, and further grow in the fields of retail, property, banking, and portfolio investments?
“Sixty-five years ago, my father, Henry Sy, Sr., opened a small shoe store in downtown Manila.”
“It was in October 1958, and at that time he thought, ‘If I could sell a pair of shoes to every Filipino, I would be a successful man."
“But he did so much more than that. With his vision, passion to succeed, and hard work, the company has grown over the years and is now a publicly listed company in retail, property, banking, and portfolio investments.”
She also shared how their father taught them, as siblings, how to manage their businesses, along with instilling good qualities and virtues.
“My siblings and I were growing up when my father started his business. We had front-row seats to his extraordinary way of doing things. He has been our mentor, teaching us about business and life through coaching and through his example. Let me share some of these with you, one value at a time.”
“My father taught us that it was important to have a great passion to achieve. The adversities of World War II deprived my father of a quality education.”
“However, knowing that education would make him go far, he pursued a college degree but had to stop after two years.
“Opportunities were open for him to see the world; hence, he had to make a choice of going back to school or traveling to broaden his knowledge. He chose the latter.”
“Apart from intelligence and education, it is passion that makes a difference. It increases one's willpower. It is, in fact, the fuel for the will. Passion makes the impossible possible.”
“Your desires, he believed, determine your destiny. The stronger your willpower to achieve, the greater your potential. If you follow your passion, you become a more dedicated and productive person.”
In November of 1972, Henry Sy, Sr. inaugurated SM Quiapo, the very first standalone department store under SM, and assigned the responsibility of managing the store to his 22-year-old daughter, Teresita.
Sy tied the knot with Felicidad Tan, a shoelace vendor. They had a family of six children: Teresita, Elizabeth, Henry Jr., Hans, Herbert, and Harley.
The business magnate passed away peacefully in his sleep at the age of 94 on January 19, 2019. His lifeless body was found in his Forbes Park residence that morning. He was laid to rest at the Heritage Memorial Park in Taguig on January 24.
For eleven straight years until his death, Sy was named by “Forbes” as the richest person in the Philippines.
Truly, the legacy of Henry Sy, Sr. goes beyond SM Malls and the other businesses he built; it includes the values and virtues he taught and passed on to his children, which have been passed down to his grandchildren and to the generations that will follow.
— Richard, The Summit Express
Teresita Sy-Coson, the Vice Chairperson of SM Investments Corporation, remembered and paid tribute to her late father, Henry Sy Sr., the founder and driving force behind the establishment, growth, and development of "SM Malls," which is recognized as one of the prominent businesses in the entire country and Asia.
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| Photo courtesy: Facebook/Teresita Sy-Coson |
Almost every city or province in the Philippines has an SM mall. It seems that there is no Filipino who doesn't know or hasn't visited this mall.
According to Sy-Coson's Facebook post on October 26, it's been 65 years since her father started a small shoe store in a location in Manila.
She said, who would have thought that a small shoe store back then would become a giant mall, and further grow in the fields of retail, property, banking, and portfolio investments?
“Sixty-five years ago, my father, Henry Sy, Sr., opened a small shoe store in downtown Manila.”
“It was in October 1958, and at that time he thought, ‘If I could sell a pair of shoes to every Filipino, I would be a successful man."
“But he did so much more than that. With his vision, passion to succeed, and hard work, the company has grown over the years and is now a publicly listed company in retail, property, banking, and portfolio investments.”
She also shared how their father taught them, as siblings, how to manage their businesses, along with instilling good qualities and virtues.
“My siblings and I were growing up when my father started his business. We had front-row seats to his extraordinary way of doing things. He has been our mentor, teaching us about business and life through coaching and through his example. Let me share some of these with you, one value at a time.”
“My father taught us that it was important to have a great passion to achieve. The adversities of World War II deprived my father of a quality education.”
“However, knowing that education would make him go far, he pursued a college degree but had to stop after two years.
“Opportunities were open for him to see the world; hence, he had to make a choice of going back to school or traveling to broaden his knowledge. He chose the latter.”
“Apart from intelligence and education, it is passion that makes a difference. It increases one's willpower. It is, in fact, the fuel for the will. Passion makes the impossible possible.”
“Your desires, he believed, determine your destiny. The stronger your willpower to achieve, the greater your potential. If you follow your passion, you become a more dedicated and productive person.”
In November of 1972, Henry Sy, Sr. inaugurated SM Quiapo, the very first standalone department store under SM, and assigned the responsibility of managing the store to his 22-year-old daughter, Teresita.
Sy tied the knot with Felicidad Tan, a shoelace vendor. They had a family of six children: Teresita, Elizabeth, Henry Jr., Hans, Herbert, and Harley.
The business magnate passed away peacefully in his sleep at the age of 94 on January 19, 2019. His lifeless body was found in his Forbes Park residence that morning. He was laid to rest at the Heritage Memorial Park in Taguig on January 24.
For eleven straight years until his death, Sy was named by “Forbes” as the richest person in the Philippines.
Truly, the legacy of Henry Sy, Sr. goes beyond SM Malls and the other businesses he built; it includes the values and virtues he taught and passed on to his children, which have been passed down to his grandchildren and to the generations that will follow.
Sixty-five years ago, my father, Henry Sy, Sr., opened a small shoe store in downtown Manila It was in October 1958,...
Posted by Teresita Sy-Coson on Thursday, October 26, 2023
— Richard, The Summit Express
