SM's Sy-Coson, Mercury's Que-Azcona in Forbes' list of powerful businesswomen in Asia

 

Teresity 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.

Pushcart pharmacy

 

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.

 

The businesswomen who made it on the 2014 list came from 14 countries, with China and Hong Kong dominating the list with 16 women each, followed by India with seven, then Singapore and Australia with four each, before Indonesia, South Korea and Vietnam with three each, follwoed by Philippines, Japan, Thailand and Taiwan with two each, and Malaysia and New Zealand with one each. – Elizabeth Marcelo/VS, GMA News