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FILIPINO-Chinese business magnate Henry Sy will be conferred the distinction as adopted son and honorary mayor of Bacolod City as part of the BacoLaodiat Festival celebration.
Mayor Evelio Leonardia said he requested the City Council to hold a special session at 2 p.m., Saturday, for the conferment rites.
According to forbes.com, “Sy, the richest person in the Philippines, owns retailers and real estate throughout the country. His family-owned SM Investments is the largest retailer in the Philippines, with stakes in banking, property and retail.”
BacoLaodiat chairperson Jennifer Gochangco-Ong said the 92-year-old tycoon’s son Hans will receive the recognition in behalf of his father.
Hans Sy is the executive committee chairman and director of SM Prime Holdings Inc.
Sy would be the third honorary mayor of Bacolod after fellow Filipino-Chinese tycoons Lucio Tan and John Gokongwei Jr.
The 12th BacoLaodiat Festival officially opens today and will run until Sunday.
Leonardia said the BacoLaodiat has unified and bonded the Filipino-Chinese community and the people of Bacolod.
He added that BacoLaodiat should graduate from just being a local celebration of the Chinese New Year, and should become a certified tourist attraction.