News

Billionaire fathers relinquish empires to sons, daughters

ABS-CBN News
Updated as of Jun 17 02:58 PM

A new generation of tycoons have begun to take control of the Philippines' biggest businesses, as billionaires look to their children to lead their empires. Read more »

NAIA Consortium defends ‘tweaks’ to airport upgrade proposal

ABS-CBN News
Updated as of Mar 26 09:29 AM

The super consortium bidding to upgrade the Ninoy Aquino International Airport on Monday brushed aside allegations it was revising its unsolicited proposal to the government. Read more »

Henry Sy Jr steps down as NGCP president, CEO

ABS-CBN News
Updated as of Mar 07 04:13 PM

Henry Sy Jr. has stepped down as president and chief executive officer of the National Grid Corporation of the Philippines (NGCP).   Read more »

Forbes: Henry Sy is still PH top billionaire; Jeff Bezos is world's richest

ABS-CBN News
Updated as of Mar 07 02:55 PM

Shopping mall tycoon Henry Sy is still the country's richest man while Amazon.com founder Jeff Bezos seized the top spot for the first time, Forbes Magazine said Tuesday. Read more »

SM, Robinsons, Rustan's bosses among PH 'retail icons'

Jessica Fenol, ABS-CBN News
Updated as of Feb 28 09:16 AM

Twelve icons of retail, whose empires defined how Filipinos shop for everything from headache medicine to engagement rings, were honored by an industry group late Tuesday.  Read more »

How Henry Sy heir's cement venture is helping preserve the environment

ABS-CBN News
Posted at Jan 12 10:52 AM

Big Boss Cement Inc, chaired by one of the sons of billionaire Henry Sy Sr, hopes to cash in on the construction boom while helping preserve the environment, a company official said Friday. Read more »

Henry Sy Jr launches cement business

Jessica Fenol and Michelle Ong, ABS-CBN News
Updated as of Jan 11 03:17 PM

One of the sons of the country's richest man, Henry Sy Sr, on Thursday launched a cement business, betting on the construction boom while helping preserve the environment.   Read more »

OPINION: SM explains pullout of water stations in Foodcourts

Ellen T. Tordesillas
Updated as of Dec 08 02:59 PM

We got a letter from Mr. Steven T. Tan, senior vice president of SM Supermalls, in reply to our complaint about their discontinuation of providing free drinking water in their Foodcourts, both through water stations and concessionaires. Read more »

OPINION: No water in SM Food Court gives a lie to ‘SM Cares’

Ellen Tordesillas
Updated as of Dec 09 06:26 AM

I find "SM Cares" inconsistent with the decision of SM Malls management to remove water stations in their Food Courts, forcing customers to buy bottled water. Read more »

Sy, Zobel families among Asia's 50 richest families: Forbes

ABS-CBN News
Updated as of Nov 15 01:45 PM

The Philippines' Sy family, which owns the SM shopping mall, bank and property empire, is the 9th richest family in Asia, according to rankings released by Forbes Magazine on Wednesday. Read more »

SM Group looking at Singapore for expansion

Cathy Yang and Jessica Fenol, ABS-CBN News
Posted at Nov 14 05:09 AM

The SM group is looking at Singapore as the starting point for its Southeast Asian expansion, SM Investments vice chairperson Teresita Sy-Coson said Monday. Read more »

SM Malls can weather rise of digital commerce: Sy-Coson

ABS-CBN News
Updated as of Nov 13 05:03 PM

The SM Mall empire will withstand the shift to digital commerce, as physical stores cater to Filipinos' need to socialize, according to the eldest daughter of its founder, billionaire Henry Sy. Read more »

Henry Sy is PH richest for 10th straight year: Forbes

ABS-CBN News
Updated as of Aug 24 02:48 PM

Filipino-Chinese mall tycoon Henry Sy is the Philippines' richest man for the 10th year in a row, as captains of the country's top conglomerates benefited from robust economic growth, according to Forbes Magazine. Read more »

BDO earns P13.3-B in first half of 2017

ABS-CBN News
Posted at Jul 31 07:26 PM

BDO Unibank posted P13.3 billion in net income in the first six months of 2017, with core earnings up 16 percent, the bank announced on Monday.  Read more »

SM to open 63rd mall, SM Cherry Antipolo

ABS-CBN News
Posted at Jun 28 03:12 PM

SM Prime Holdings said Wednesday it would open this week its 63rd mall, SM Cherry Antipolo, strengthening its presence in the capital's eastern suburbs. Read more »

Ilang BDO depositors, umangal na nabawasan ang pera

ABS-CBN News
Updated as of Jun 17 01:07 PM

Magkakasunod na reklamo ng pagkawala ng pera sa ATM account ang natanggap ng BDO, isang linggo matapos ang system glitch sa isa pang bangko. Read more »

SM Investments Corp. tops Forbes list of most valuable firms in PH

ABS-CBN News
Posted at May 25 01:27 AM

Two companies of taipan Henry Sy topped the list of 8 Philippine firms that were included in the Forbes Global 2000 ranking of most powerful and most valuable companies in the world. Read more »

RCBC, China Bank shares rise on merger talk

ABS-CBN News
Updated as of May 22 12:04 PM

Shares of Rizal Commercial Banking Corp and China Banking Corp rose on Monday, following a report that a merger of the two lenders was being negotiated. Read more »

Henry Sy's successor shares 5 rules to success

Liza Reyes, ABS-CBN News
Updated as of May 20 02:08 PM

MANILA (UPDATED) - The country's richest man, Henry Sy, has handed over leadership of SM Investments Corp to one of his most trusted aides, former chief finance officer Jose Sio.  Read more »

Henry Sy's successor is SM's 'Uncle' Jose Sio

Liza Reyes, ABS-CBN News
Updated as of May 17 04:33 PM

When tycoon Henry Sy started Acme Bank, he told one of his most trusted lieutenants, Jose Sio, that it will become number one.  Read more »