Two Filipino women – one leading the Philippines' largest mall chain, and the other, the country's largest drugstore chain – made it to Forbes' 2014 list of Asia's 50 most powerful businesswomen.
Teresita Sy-Coson, 63, vice chairman of SM Investments Corporation, and Vivian Que-Azcona, president of Mercury Drug, are on the elite list of women who are "driving change across diverse industries" in the region, Forbes said.
A statement by Forbes and its print edition named the two, but its site only lists Sy-Coson. The online list shows 48 of the 50 women.
Sy-Coson is the eldest child and heir apparent of Henry Sy Sr, the Philippines' richest man. She has a net worth of $12 billion in 2013, also according to Forbes.
Before heading their holding company, Sy-Coson headed two of its most profitable units: SM's retail operations and its banking arm Banco de Oro Unibank Incorporated, the Philippines' largest bank by assets.
Aside from BDO and retail, SM Investments now proudly owns Southeast Asia's largest property firm, SM Prime Holdings.
SM Prime is the surviving entity in the mega merger of the SM Group's property firms last year. From just holding malls, SM Prime's portfolio now includes residential projects, hotels, and convention centers.
On the other hand, Que-Azcona is the daughter of Mariano Que, founder of Mercury Drug, which now has 900 stores nationwide.
Que-Azcona was listed as the highest taxpayer in the Philippines in 2012, and her family was number 19 on the Forbes' rich list with a net worth of $840 million.
Forbes describes the 50 women on the list as those "who are driving change across diverse industries" in the region.
The women were selected based on criteria such as company revenue, their position at their companies, and their involvement in the running of daily operations.
Women from 13 countries are represented on the list. Women from China and Hong Kong again dominated this year’s list with 16 listees, followed by India with 7. Singapore and Australia each have 4 women on this year’s list, while Indonesia, South Korea, and Vietnam each have 3. Philippines, Japan, Thailand, and Taiwan each have 2 women on the list. Malaysia and New Zealand each have one woman on the list.
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