Philippines’ richest man Sy dies in his sleep at 94

Rags to riches: Sy arrives for the opening of one of his shopping malls, the SM Aura, in Manila in this file picture. — AFP

MANILA: The Philippines’ wealthiest man, Henry Sy, who rose from being a penniless Chinese immigrant to leading a multi-billion dollar business empire, died, his conglomerate has announced.

The 94-year-old, from the Chinese city of Xiamen, made his fortune with a Philippine shopping centre conglomerate that has put up some of the largest malls in the world.