President Rodrigo Duterte on Sunday night visited the wake of SM Group founder Henry Sy Sr. who died in his sleep on Saturday morning.
In a statement sent to reporters on Monday, Malacañang said Duterte arrived at the Heritage Park in Taguig City at 10:50 p.m. to pay his respects.
He stayed for more than an hour before leaving and expressed his condolences to Sy’s family.
On Saturday, Presidential Spokesman Salvador Panelo described Sy as a “visionary and a pillar of the Philippine economy” who believed in the Philippines’ potentials.
He cited Sy’s contributions to the Philippine economy and culture.
“The landscapes of the major cities in the Philippines seem unadorned and incomplete minus the imposing architectural delight [of Sy’s malls],” Panelo said.
“He made “malling” a delightful experience as part of urban living in the Philippines, where Filipino families and ordinary folks bond, promenade and create wondrous and memorable moments.”
Sy, a Chinese immigrant, was the Philippines’ richest person from 2005 to 2018 and the 52nd richest person in the world, according to Forbes magazine.
He established a small shoe business in 1958 in Carriedo in downtown Manila that was called Shoe Mart, after which the SM chain of malls was named. Sy later expanded to other businesses like retailing, banking, property development, mining and gaming.