By Junex Doronio
MANILA — Named by Forbes as the Philippines’ richest woman, who has an estimated net worth of $2.2 billion, SM Investments Corporation Vice Chairperson Teresita Sy-Coson has urged the Marcos Jr. administration to engage China in dialogue instead of calling it out for each incident of aggression in the South China Sea.
Sy-Coson admitted that President Ferdinand R. Marcos Jr.’s confrontational approach towards China has an impact on investors.
“I think we have to look at our own position. We don’t want to get involved in the US-China tensions,” Sy-Coson said, according to a Bloomberg report.
She added that the Philippines “cannot be too antagonistic” towards China.
“What we have to do is to have peaceful discussions with them because, after all, we can’t change our neighbors,” Sy-Coson stressed.
SM Prime Holdings Inc., which is owned by Sy’s family, operates nine malls in China. It is also the Philippines’ largest mall operator.
The Sys also own BDO Unibank, the Philippines’ largest lender, and has a 60% stake in the National Grid Corporation of the Philippines (NGCP).
“That’s why we are all cautiously optimistic because of the things that are happening beyond the businesses’ control,” Sy-Coson said.
(AI/MNM)