Hans Sy: Despite challenges, PH still ‘worth the struggle’
Despite the political and economic uncertainties weighing on the country and his family’s businesses, tycoon Hans Sy said that he remains convinced that life in the Philippines is “worth the struggle.”
“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 on Monday as he received the prestigious “Management Person of the Year” award from the Management Association of the Philippines (MAP).
“Life in the Philippines, no matter how difficult, is worth the struggle. And that in time, things do get better,” he added.
Sy, who chairs the executive committees of China Banking Corp. and SM Prime Holdings Inc., became the third from his family to receive the award from MAP, one of the largest groups of senior executives in the Philippines with approximately 1,300 members.
In his acceptance speech, Sy acknowledged the many risks and challenges his family’s businesses had to face through the years, but maintained that none were enough to shake his confidence in the country.
“Despite the risks, the noise, and the many uncertainties, I have never doubted our country’s promise or the strength of the Filipino spirit,” he said.
But Sy admitted he was not immune to concerns about “what is happening” in the Philippines today.
He urged Filipinos, particularly those in the private sector, to stay engaged as this is the time “when it matters most.”
“It is painful to see our country suffer because of the faults of a few,” he 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.”
SM journey
Sy, who was also president of Southeast Asian property giant SM Prime Holdings Inc., described the SM Group’s journey as a nonlinear one.
He recalled instances when SM got into hot water, such as when it cut down trees for the construction of SM Baguio, or when it faced disruptions such as the COVID-19 pandemic.
“We have been tested by political unrest, economic challenges and natural disasters. A pandemic even closed our malls,” he said.
“We were able to navigate those moments because two constants guided our choices: our values and our sustainability framework,” he added, citing integrity, hard work and humility as values the Sy family lives by.
Nation
MAP said judges had recognized Sy “for his personal contributions to shaping national values and inspiring others through his unwavering integrity, exceptional managerial competence and visionary leadership,” among many reasons.
Citing his father, SM Group founder Henry Sy Sr., the younger Sy said the conglomerate would continue to trust in the Philippines despite bleak outlooks.
“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,” he recalled.
“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 added.
Sy’s father was awarded MAP Management Person of the Year in 1999, while his sister, SM Investments Corp. vice chair Teresita Sy-Coson, received the award in 2016.
Other awardees in recent years were former Public Works and Highways Secretary Rogelio Singson (2024), Jollibee Foods Corp. CEO Ernesto Tanmantiong (2023), and DMCI Holdings Inc. chair and president Isidro Consunji (2022).
