(Eagle News)–The Palace on Saturday, Jan. 19, extended its condolences to the family of SM Group founder Henry Sy Sr., who recently passed away.
In a statement, Presidential Spokesperson Salvador Panelo lauded Sy, calling him a “visionary and a pillar of the Philippine economy who believed in the potentials and opportunities of the country, and pursued them with dedication, passion, and hard work till their fruition.”
“Mr. Sy boldly took the business path which Filipino businessmen feared to tread,” Panelo said, noting that he pioneered the construction of malls in the Philippines.
Panelo also recalled how Sy started his conglomerate from a small shoe store in Quiapo, Manila under “daunting and harsh circumstances,” describing him as exemplifying the “hardworking Filipino.”
He said that Sy, the richest Filipino according to Forbes, “made malling a delightful experience as part of the urban living in the Philippines where Filipino families and the ordinary folks bond, promenade, and create wondrous and memorable moments.”
“A grateful nation respects and admires the man for his lasting legacy which he attributed to hard work,” he said.
