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... —Michael Reyes was inevitable. One by one, the giants had fallen, and now only one remained: Henry Sy Jr., the chairman of SM Investments Corporation.

SM was the last bastion of the old order. With vast holdings in retail, banking, and property development, the Sy family’s empire had long been seen as the cornerstone of the Philippine economy. Unlike the others, Henry Sy Jr. had taken a cautious approach, watching as Reyes Corporation dismantled his peers. But now, he knew there was no m ...

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