Philippine Henry Sy now richer than Malaysia Ananda Krishnan
Postby mevotex » Sat Jan 05, 2013 11:38 pm
Malaysia's Ananda Krishnan had long been listed as Southeast Asia second wealthiest businessman - until 2012, when he was ousted from the spot by Indonesia's Susilo Wonowidjojo (also known as Cai Dao Ping). As of early-2012, Robert Kuok and Cai were the only two individual Southeast Asian tycoons in Forbes 2012 billionaire list with a net worth greater than $10 billion.
But now another billionaire has risen, Henry Sy Zhi Cheng from the Philippines.
Henry Sy's SMIC is now Philippine most valuable company
Henry Sy's flagship company, SM Investments Corp. (SMIC) has dislodged the Philippines Long Distance Telephone Co. (PLDT) as the most valuable company in the country, reflecting a landmark in the Philippine economy. When markets closed in 2012, SMIC's market capitalization reached P549.5 billion, higher than PLDT's P546.6 billion.
When markets opened in 2013, SMIC sealed its position at the top. SMIC has been trading in the P880 to P900 range in the past week, the highest in its stock price history, while PLDT fluctuated between P2,530 and P2,570 apiece.
Henry Sy's SM Prime, Philippine largest shopping mall operator
As the Filipino economy surged forward, shares of SMIC rallied 51% in 2012, greatly boosting Henry Sy's fortune. SMIC is the holding company for SM Prime, the biggest shopping mall operator in the Philippine, and Banco De Oro (BDO), the largest bank in the Philippines in terms of assets.
The company thrives from increased consumer spending, a factor in the Philippine economic growth that has stayed resilient despite global economic woes, marked by recessions, skyrocketing deficits and governments' spending cuts. With robust uptrend trajectory, the Filipino economy is now scheduled to be the second fastest-growing major Asian economy, only after China.
SMIC's malls, banks, and property firms are designed to capture the resilient inflow of remittances from over 10 million overseas Filipino workers. Remittances and an ever-growing public and private investments led to the Philippine economy's phenomenal 7.1% growth in the third quarter of 2012, the highest in South East Asia.
SMIC owns the country's biggest grocery and department store operators, commercial banks BDO Unibank Inc. (BDO), China Bank, and SM Prime Holdings Inc. (SMPH), which runs 51 shopping mall centers in the Philippines and China.
Henry Sy, arrived from China penniless, now Philippines richest man
PLDT, on the other hand, is in an industry that has thrived for over a decade, with call and text services that suited the Filipino's penchant for communicating with loved ones and friends in the Philippines or abroad.
The shift in consumer appetite to social media and broadband-heavy services, such as Facebook, Twitter, email, and others however, led telco companies to invest massive capital to adapt to new technology and upgrade infrastructure, causing bottomline profits to decline.
Robust economic growth in Philippines - country now second-fastest major Asian economy
Henry Sy's SMIC (retail, banks) overtaking of PLDT (communication), interestingly, coincide with his wealth eclipse of Ananda Krishnan, a Malaysian communication billionaire. Forbes pegged Ananda's net worth at $9.9 billion last year, while Sy at $9.1 billion - ranking them the third and fourth wealthiest in Southeast Asia respectively.
But while SMIC enjoyed a share price surge of 51% in 2012, Ananda's Maxis Communication only managed 17%. Another of his company, Astro Holdings, launched its initial public offering (IPO) in October last year, saw prices falling below that of IPO level.
Golden boys in their nations: Robert Kuok Hock Nien, Malaysia | Dhanin Chearavanont (Chai Kok Ming), Thailand | Eka Tjipta Widjaja (Huang Yi Cong), Indonesia | Henry Sy Zhi Cheng, Philippines
As a result, the latest wealth estimation put Ananda's fortune at $11 billion while Sy $13 billion. Malaysian billionaire Robert Kuok still lead the region with $18.7 billion, according to Bloomberg Billionaire Index daily tracker. In Indonesia, Cai's fortune has since declined after shares of his Gudang Garam fell 10% last year. A ranking from Globe Asia, Indonesia's no.1 business magazine, put Eka Tjipta Widjaja (Huang Yi Cong) now as the country's wealthiest at around $12.5 billion. By this, it may potentially means Sy could be the new second richest businessman in Southeast Asia after Robert Kuok.
Thailand's wealthiest tycoon Dhanin Chearavanont (Chai Kok Ming) was listed last year at $9 billion. Shares of his CP All PCL in Bangkok has risen 30% at the end of 2012.
Source
http://business.inquirer.net/100853/psei-starts-year-with-new-high-at-5860-99
http://www.rappler.com/business/19010-why-sy-led-smic-overtook-mvp-led-pldt-as-ph-s-most-valuable-firm
http://www.mb.com.ph/articles/388008/driven-by-strong-consumer-spending-smic-surpasses-pldt-as-biggest-rp-stock-in-market#.UOnJUHexWG8
http://businessmirror.com.ph/index.php/news/top-news/6711-sm-investments-dislodges-pldt-as-most-valuable-philippine-stock
Postby mevotex » Sat Jan 05, 2013 11:38 pm
Malaysia's Ananda Krishnan had long been listed as Southeast Asia second wealthiest businessman - until 2012, when he was ousted from the spot by Indonesia's Susilo Wonowidjojo (also known as Cai Dao Ping). As of early-2012, Robert Kuok and Cai were the only two individual Southeast Asian tycoons in Forbes 2012 billionaire list with a net worth greater than $10 billion.
But now another billionaire has risen, Henry Sy Zhi Cheng from the Philippines.
Henry Sy's SMIC is now Philippine most valuable company
Henry Sy's flagship company, SM Investments Corp. (SMIC) has dislodged the Philippines Long Distance Telephone Co. (PLDT) as the most valuable company in the country, reflecting a landmark in the Philippine economy. When markets closed in 2012, SMIC's market capitalization reached P549.5 billion, higher than PLDT's P546.6 billion.
When markets opened in 2013, SMIC sealed its position at the top. SMIC has been trading in the P880 to P900 range in the past week, the highest in its stock price history, while PLDT fluctuated between P2,530 and P2,570 apiece.
Henry Sy's SM Prime, Philippine largest shopping mall operator
As the Filipino economy surged forward, shares of SMIC rallied 51% in 2012, greatly boosting Henry Sy's fortune. SMIC is the holding company for SM Prime, the biggest shopping mall operator in the Philippine, and Banco De Oro (BDO), the largest bank in the Philippines in terms of assets.
The company thrives from increased consumer spending, a factor in the Philippine economic growth that has stayed resilient despite global economic woes, marked by recessions, skyrocketing deficits and governments' spending cuts. With robust uptrend trajectory, the Filipino economy is now scheduled to be the second fastest-growing major Asian economy, only after China.
SMIC's malls, banks, and property firms are designed to capture the resilient inflow of remittances from over 10 million overseas Filipino workers. Remittances and an ever-growing public and private investments led to the Philippine economy's phenomenal 7.1% growth in the third quarter of 2012, the highest in South East Asia.
SMIC owns the country's biggest grocery and department store operators, commercial banks BDO Unibank Inc. (BDO), China Bank, and SM Prime Holdings Inc. (SMPH), which runs 51 shopping mall centers in the Philippines and China.
Henry Sy, arrived from China penniless, now Philippines richest man
PLDT, on the other hand, is in an industry that has thrived for over a decade, with call and text services that suited the Filipino's penchant for communicating with loved ones and friends in the Philippines or abroad.
The shift in consumer appetite to social media and broadband-heavy services, such as Facebook, Twitter, email, and others however, led telco companies to invest massive capital to adapt to new technology and upgrade infrastructure, causing bottomline profits to decline.
Robust economic growth in Philippines - country now second-fastest major Asian economy
Henry Sy's SMIC (retail, banks) overtaking of PLDT (communication), interestingly, coincide with his wealth eclipse of Ananda Krishnan, a Malaysian communication billionaire. Forbes pegged Ananda's net worth at $9.9 billion last year, while Sy at $9.1 billion - ranking them the third and fourth wealthiest in Southeast Asia respectively.
But while SMIC enjoyed a share price surge of 51% in 2012, Ananda's Maxis Communication only managed 17%. Another of his company, Astro Holdings, launched its initial public offering (IPO) in October last year, saw prices falling below that of IPO level.
Golden boys in their nations: Robert Kuok Hock Nien, Malaysia | Dhanin Chearavanont (Chai Kok Ming), Thailand | Eka Tjipta Widjaja (Huang Yi Cong), Indonesia | Henry Sy Zhi Cheng, Philippines
As a result, the latest wealth estimation put Ananda's fortune at $11 billion while Sy $13 billion. Malaysian billionaire Robert Kuok still lead the region with $18.7 billion, according to Bloomberg Billionaire Index daily tracker. In Indonesia, Cai's fortune has since declined after shares of his Gudang Garam fell 10% last year. A ranking from Globe Asia, Indonesia's no.1 business magazine, put Eka Tjipta Widjaja (Huang Yi Cong) now as the country's wealthiest at around $12.5 billion. By this, it may potentially means Sy could be the new second richest businessman in Southeast Asia after Robert Kuok.
Thailand's wealthiest tycoon Dhanin Chearavanont (Chai Kok Ming) was listed last year at $9 billion. Shares of his CP All PCL in Bangkok has risen 30% at the end of 2012.
Source
http://business.inquirer.net/100853/psei-starts-year-with-new-high-at-5860-99
http://www.rappler.com/business/19010-why-sy-led-smic-overtook-mvp-led-pldt-as-ph-s-most-valuable-firm
http://www.mb.com.ph/articles/388008/driven-by-strong-consumer-spending-smic-surpasses-pldt-as-biggest-rp-stock-in-market#.UOnJUHexWG8
http://businessmirror.com.ph/index.php/news/top-news/6711-sm-investments-dislodges-pldt-as-most-valuable-philippine-stock
