SM Group Founder and Chairman Henry Sy,Sr.was resently feted in a Thanksgiving and Company Tribute held recently at the SMXC Convention Center. The event was in line with SM’s 50th Anniversary which the group will be celebrating this year.

Highlights of the event included an exhibit of SM Through the Years (1958--2008) in his own words,featuring his memorable quotes about company milestones;the unveiling of the special edition Coke in cans with the SM 50th anniversary logo;and a musical,Dream,based on his life.

On behalf of the Sy family,SM Investments Co-Chair Tessie Sy-Coson thanked SM’s employees,suppliers,mall tenants,and business associates for making SM part of their lives.She also announced that for SM’s 50th anniversary,the group will be saying thank you to its customers with a P50M prize promo;and would be giving an additional P50M Foundation for over 50 institutions.Capping the event was a toast led by Henry Sy,Jr. in honor of his father.

SM employees and other guests welcome the SM Founder and Chairman Henry Sy,during the SM's 50th anniversary at SMX Convention Center.With him are his sons Harley Sy,Henry Sy,Jr.,Herbert Sy and Hans Sy.

Henry Sy,Sr,opened his first shoe store,Shoemart,in downtown Manila in 1958.In the 1960s,SM expended its shoe storechain,and was one of the pioneers in the new urban centers in Makati and Cubao.
In the 1970s,SM evolved from a shoe store to a department store.It was also during this time that Shoemart became SM Shoemart or SM,which has become synonymous with one stop shopping excitement. The company also began venturing into the banking business during this time.

SM positioned itself for growth during the 1980s,expangding its department store chain, and venturing into the supermarket and appliance business. It was also during this time that it fully acquired its main bank,Babci de Oro;and entered into property projects like Calleria de Magallanes and Ritz Towers. In 1985,SM opened its first shopping center,SM City North-EDSA.
In the 1990s,SM spearheaded what is known as the malling phenomenon in the philippines with the opening of SM Megamall in 1991.Malling became a way of life for millions of Filipinos as SM malls are opened in the metro and provincial areas. In 1994,SM transferred its shopping center business to SM Prime Holdings, a publicly listed company.

This is also a period of dynamism for its banking business as Banco de Oro grows into a commercial bank in 1995 and a universal bank in 1996.

In the new millennium, SM Supermalls have embarked on an aggressive expansion program,opening at least two new malls a year. This includes the Mall of Asia in 2006,which is envisioned to be the premiere destination mall in the Asia-Pacific region. By late 2007,there are 30 supermalls.

Likwise, with the boom of the property sector,SM Development Corporation has spearheads several residential and tourism projects.
During this time,Banco de Oro has acquired several banks and merges with Equitable PCI Bank, maling it one of the country’s largerst banks. The merger becomes the catalyst for further consolidation in the country’s financial services sector.

In 2005,SM made local stock market history with the launching of SM Investments Corporation, its publicly listed holding company.

Believing that we must do something to help others in society,Mr.Sy has been active in philanthropic work through SM Foundation’s scholarship programs and other socio civic projects.