Retail in Asia

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CNBC honors SM founder with Lifetime Achievement Award

Top officials of CNBC has selected Henry Sy, Sr. Chairman of SM Investments Corporation (SM) and founder of the 56-year-old company, as the recipient of its Lifetime Achievement Award.

Sy successfully built SM into one of the Philippines’ largest conglomerates, with interests and presence in retail, banking, and property, by adopting a highly progressive and innovative approach in expanding the retail business.

SM traces its roots from Sy’s humble shoe store, Shoemart. Today, retail operations enjoy a strong brand franchise consisting of The SM Store and its food retail chains namely SM Supermarket, SM Hypermarket, Savemore and WalterMart stores.

SM Vice Chairperson Teresita Sy-Coson received the award on behalf of her father at a ceremony at St. Regis Hotel in Singapore.

“We are very happy that our father was recognized beyond the Philippines. What makes him happy, makes us also very happy. On behalf of my father and the rest of the family, thank you for this award," she said.

CNBC pioneered the Asia Business Leaders Awards (ABLA) in 2001 to recognize regional business leaders for their commitment to excellence, and to develop best practices and innovative strategies.

Past winners of CNBC’s prestigious awards include Ratan Tata of India’s Tata Sons & Tata Trusts, Khun Dhanin Chearavanont, Chairman & CEO of Thailand’s C P Group, N R Narayana Murthy, Chairman of India’s Infosys and Gordon Wu, Chairman of Hong Kong’s Hopewell Holdings.