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Tycoon and philanthropist Washington Sycip passes away

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<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2017/business/10/08/washington-sycip-100817.jpg?ext=.jpg"/><figcaption>Washington Sycip. <em>File</em></figcaption></figure></div><p>MANILA - Washington Sycip, one of the Philippines&#x27; most enduring tycoons and philanthropists, passed away at the age of 96, the company he founded confirmed Sunday.</p><div><script src="https://connect.facebook.net/en_US/sdk.js#xfbml=1&amp;version=v2.5" async="" type="text/javascript"></script></div><div class="fb-post" data-href="https://www.facebook.com/cvpurisima/posts/10213984941674692" data-width="auto"> </div><p>&quot;With deep sadness, the partners, principals and staff of SGV &amp; Co. announce the passing of SGV Founder Washington SyCip on the 7th of October 2017,&quot; SGV &amp; Co. said in a statement on its Facebook page. </p><p>&quot;Mr. SyCip went quietly while on a flight to Vancouver from Manila. He was 96 years old. The SyCip family requests for some private time at this moment.&quot;</p><p>Sycip, who founded SGV &amp; Company and the Asian Institute of Management, remained active in the business community as a board member of several corporations despite his age. </p><p>He also devoted time to his <a href="http://news.abs-cbn.com/video/business/09/28/15/washington-sycip-talks-about-his-chosen-advocacy">chosen advocacy</a> of enabling poor Filipinos&#x27; access to education. </p><p>&quot;Education is free, but you do need tsinelas, you do need a shirt, you do need money for pencil, paper, notebooks,&quot; Sycip said in an interview in 2015 with ANC&#x27;s Cathy Yang. </p><p>To remedy this problem, Sycip lent money to the poor through his chosen non-governmental organization CARD Mutually Reinforcing Institutions. </p><p>&quot;But the poor are more honest than the rich. And the repayment rate is 99.9 percent,&quot; Sycip said. </p><p>Throughout his career he also believed that Filipinos have what it takes to succeed. </p><p>&quot;I have <a href="http://news.abs-cbn.com/business/09/25/15/sycip-confident-about-pinoys-abilities-competence">full confidence</a> in the ability of the Filipino--men or women---to compete.&quot;</p><p>The Sycip family is expected to issue a statement soon on the wake and funeral arrangements for the late tycoon. </p>

<p>Washington Sycip, one of the Philippines' most enduring tycoons and philanthropists, passed away at the age of 96, sources confirmed Sunday.</p>

Washington Sycip, one of the Philippines' most enduring tycoons and philanthropists, passed away at the age of 96, sources confirmed Sunday.