Aside from cornering Filipino tobacco distribution networks, Tan has since parlayed his business interests into a corporate conglomerate behemoth of his own LT Group Inc., with an empire presiding diversified business interests in chemicals, sports, education, brewing, financial services, real estate investing and property development, hotels (Century Park Hotel), in addition to acquiring a majority controlling interest in PAL, one of the largest airlines in the Philippines. In terms of industry distribution, small and medium size Chinese-owned retail outlets account for half of the Philippines retail trade sector, with 49.45 percent of the retail sector alone being controlled by Henry Sy's Shoemart, and the remaining share of the retail sector dominated by a few larger Chinese-owned retail outlets that include thousands of smaller retail subsidiaries. Sy built his business empire from scratch out of his Shoe Mart department store chain, and has since made forays into banking after assuming as a controlling shareholder of Banco de Oro, a commercial bank as well as owning a substantial interest in China Banking Corporation, a privately-owned commercial bank and wealth management house that offers seed capital that caters to the startup needs of up-and-coming Chinese Filipino entrepreneurs. In terms of industry distribution, Chinese-owned manufacturing establishments account for a third of the Filipino industrial manufacturing sector. In the secondary industry, 75 percent of the country's 2500 rice mills were Chinese-owned. Chinese Filipino entrepreneurs were also dominant in wood processing, and accounted for over 10 percent of the capital invested in the lumber industry and controlled 85 percent of it as well as accounting for 40 percent of the industry's annual output and controlled nearly all the sawmills in the nation. Emerging import-substituting light industries would see the rise of active participation of Chinese entrepreneurs and owned several-salt works and a large number of small and medium-sized factories engaged in food processing as well as the production of leather and tobacco goods. The Chinese also dominate food processing with approximately 200 firms in this industry and exporting their finished products to Hong Kong, Singapore, and Taiwan. More than 200 companies are also involved in the production of paper, paper products, fertilizers, cosmetics, rubber products, and plastics. By the early 1960s, Chinese presence in the manufacturing sector became significant. Of the businesses that employed 10 or more workers, 35 percent were Chinese-owned and among 284 enterprises employing more than 100 workers, 37 percent were likewise Chinese-owned.