Teresita Sy-Coson [via Manila Bulletin]
Two female magnates from the Philippines Teresita Sy-Coson and Vivian Que-Azcona were cited by Forbes Asia in its list of most powerful businesswomen for 2014.
Sy-Coson, daughter of business tycoon Henry Sy Sr., landed in Forbes Asia’s “50 Power Businesswomen” for the third year in a row.
She is the vice chairman of SM Investments Corp. (SMIC) and the chairman of SMIC’s Banco de Oro (BDO) Universal Bank.
“As the vice chairman of SM Investments, Sy-Coson leads one of the largest family conglomerates in the Philippines, with roughly $5 billion in annual revenue from banking, property, hospitality, retail and malls,” Forbes magazine noted.
Forbes Asia magazine also cited her role in the merger of SMIC’s SM Property Group – which includes 48 malls in the Philippines and five in China, residential projects, hotels and convention centers – with subsidiary SM Prime “to create one of Southeast Asia’s biggest property companies with a land bank of more than 825 hectares and total assets of $7.5 billion.
According to Forbes Asia, Sy-Coson spearheaded the opening of 54 BDO branches last year, bringing the branch network to 815 branches in the Philippines and one in Hong Kong.
Vivian Que-Azcona [via Manila Bulletin]
Vivian Que-Azcona, president of Mercury Drug, was lauded for her active role in sustaining the growth of the company started by her father Mariano Que in 1945.
Forbes Asia took note of the pharmacy’s humble beginnings when Mariano Que first sold drugs from a pushcart in Manila before opening the first store.“Today, the company has more than 11,000 employees and 900 stores nationwide, 100 of which are open 24 hours a day,” Forbes said.
The magazine also noted of the company’s 60 percent market share and its reported plan to enter into a backdoor listing in the stock market. Forbes placed the company’s net worth to around $840 million as of July 2013.
Que-Azcona and family was also in the Forbes’ list of “50 Richest in the Philippines in 2013.”
The “50 Power Businesswomen in Asia” was chosen based on company revenue, the woman’s position in the company and how involved she is in running the company.
Others who were honored for their achievements and success included: Karen Agustiawan, president of Indonesia’s Pertamina; Eva Chen, cofounder and CEO of Japan’s Trend Micro; Ho Ching of Singapore’s Temasek Holdings; Sun Yafang, chair of China’s Huawei Technologies; Gail Kelly, CEO of Australia’s Westpac Banking; Kiran Mazumdar-Shaw, founder and chair of India’s Biocon; Hong Kong’s gaming queen Pansy Ho; Vietnam’s Mai Kieu Lien who chairs Vinamilk; and Gina Rinehart, executive chair of Australia’s Hancock Prospecting.
Women from 13 countries are represented on the list. Those from China and Hong Kong again dominated this year’s list with 16 women, followed by India with seven.
Singapore and Australia each have four women on this year’s list, while Indonesia, South Korea and Vietnam each have three.
The Philippines, Japan, Thailand and Taiwan each have two women on the list. Malaysia and New Zealand each have one woman.
(Story courtesy of GMA News)