That’s not tycoon Hans Sy, who used his moment at MAP Management Person of the Year awards to deliver a message uncommon among the super elite: he will continue to stay and invest in the Philippines no matter how tough the road gets.
Choosing conviction over comfort
“Like everyone here, I am affected by what is happening. It is painful to see our country suffer because of the faults of a few,” said Sy, who was the longtime president and CEO of SM Prime Holdings and now its executive committee chair.
On Monday (Nov. 24), he was honored with what many regard as the most prestigious business award by the Management Association of the Philippine (MAP).
“I am 70 years old now. And I still hold only one passport, a Philippine passport. That is both a fact and a statement of faith. Despite the risks, the noise, and the many uncertainties, I have never doubted our country’s promise or the strength of the Filipino spirit,” Sy added.
The speech comes amid an unfolding corruption scandal engulfing the administration, with hundreds of billions potentially lost to ghost flood-control projects and kickbacks.
In times like these, others may explore safe investments elsewhere, but Sy said this is when business leaders cannot afford to shrink from responsibility.
“Hope is stronger than any hardship’”
“Our nation is not perfect. Our people are not perfect. Yet many of us remain here and keep going, because we believe that hope is stronger than hardship,” Sy said.
“But when the road gets rough, you do not stop and turn back. You keep your hands on the wheel and stay the course,” he said.
Trillion-peso empire
The SM Group is one of the country’s largest conglomerates, with a massive consumer-focused portfolio spread across banking, real estate and retail, and portfolio investments in food, power and logistics.
As of Monday, its core businesses have a combined market valuation nearly P2.4 trillion.
“We in the private sector have a responsibility to create value, opportunity, and stability. That duty does not disappear when times are difficult. This is when it matters most,” he added.
Following in his father’s footsteps
His father, Henry Sy Sr., the country’s retail pioneer and founder of the SM Group, faced the same choice decades ago and made the same call.
“In the 1970s, when capital was leaving the country, my father chose a different path. He kept his money in the Philippines and invested in the expansion of SM Makati. It was a bold choice, but it was the right one,” Sy said.
He committed to the same stance under today’s uncertainties.
“We are making the same choice today. Despite the weak sentiment and perceived risks, the SM Group continues to invest and believe in the Philippines,” he said.
What’s next?
Sy outlined his next commitments to the country through clear, long-term priorities.
• Education: Expand National University, which is poised reach 100,000 students by 2027 with new campuses and more programs.
• Strengthen disaster preparedness and climate adaptation with LGUs through ARISE Philippines.
• Community rebuilding: Support communities hit by disasters, including a new church for SM Cares Village after the Cebu earthquake.
• Future-ready development: Invest in smart cities, sustainable communities, infrastructure, and green public spaces.
“We will keep investing in developments that reflect what Filipinos truly deserve: smart cities, sustainable communities, modern infrastructure, and green spaces that promote progress, inclusivity, and well-being,” Sy said.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
