Teresita Sy-Coson sits down with her five siblings for lunch every Tuesday to plot the direction of the Philippines’ largest family-run conglomerate. The sessions start at 11 and invariably spill over the allotted two hours, says Sy-Coson, 63, chairman of BDO Unibank Inc. and the eldest child of Henry Sy, the country’s richest man.
Henry Sy went from running a shoe store in Manila to become the Philippines’ richest billionaire and owner of the nation’s largest retailer. Now the Chinese immigrant plans to raise $1 billion to expand his bank.
SM Investments Corp., Philippine billionaire Henry Sy’s holding company, climbed to a record after it said it may merge its property units, which could unseat Ayala Land Inc. as the nation’s largest developer.
BDO Unibank Inc., the biggest Philippine lender, may raise more capital after a $1 billion share sale two years ago as it expands outside Metro Manila to prepare for increased competition from foreign banks.
SM Development Corp. , owned by Philippine billionaire Henry Sy , plans to build apartments in China as he aims to double the group’s number of shopping malls in the world’s fastest growing major economy. The stock rose to a record.