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Forbes Asia

Forbes Asia

July 2021

Forbes Asia chronicles entrepreneurs, executives and companies throughout Asia.

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País:
United States
Idioma:
English
Editor:
Forbes Media LLC
Periodicidad:
Monthly
US$ 8
US$ 79,99
13 Números

en este número

1 min.
bold call

Thai energy tycoon Sarath Ratanavadi doubled down on telecoms with a $17 billion bid to take control of Intouch Holdings and its wireless firm, Advanced Info Service (AIS), Thailand’s biggest mobile phone operator by revenues. His Gulf Energy shares rose 7% after its April bid, helping to boost Sarath’s net worth by 31% to $8.9 billion. After acquiring 19% of Intouch last year, Gulf Energy is seeking to buy the remaining 81% for 169 billion baht ($5.4 billion). It’s also offered 365 billion baht to purchase 100% of AIS. “It’s a good business to acquire,” says Janice Chong, senior director at credit rating agency Fitch in Singapore, pointing to the strong balance sheets and stable cash flows of the two firms. However, Chong says the acquisitions will further strain Gulf’s stretched…

4 min.
screen queen

Last Christmas, as millions of people were watching Bridgerton for the first time, Shonda Rhimes was at home in Los Angeles with her three daughters, unwrapping gifts. Her first hints of the mania her debut Netflix series was sparking were multiple gushing texts from the streaming giant’s CEO Ted Sarandos. Then came an email from Hillary Clinton. “How does one cure oneself of a Duke obsession?” Clinton asked, referring to the actor Regé-Jean Page and his beloved portrayal of aristocrat Simon Basset in the Regency-era drama. With her adaptation of the popular romance novels, Rhimes, 51, has done the seemingly impossible: created a must-see sensation in a world overflowing with binge-worthy television. In the first 28 days it was available, 82 million households—40% of Netflix’s paying audience—watched the eight-episode series, smashing…

11 min.
bank builder

BANGKOK BANK’S $2.7 BILLION ACQUISITION OF BANK PERMATA IS NOT ONLY THE LARGEST BY VALUE IN THE 76-YEAR HISTORY OF THE BANK, IT IS ALSO ONE THAT PROMISES TO BE TRANSFORMATIVE. The deal will change Bangkok Bank from a major Thai bank with a good Asian network into one that has a strong foothold in two of Southeast Asian’s most important economies—laying the groundwork for years of sustainable growth. It is also a personal milestone for Bangkok Bank president Chartsiri Sophonpanich, 62, allowing him to fortify his family’s legacy and enhancing the bank’s regional aspirations pioneered by his grandfather Chin, the cofounder and first president of the bank in 1944. “Normally we grow organically,” says Chartsiri in a video call from his office at the bank’s Silom Road headquarters in a rare…

9 min.
covid’s entrepreneur explosion

In the gritty, gray concrete lobby of Firebrand Collective—a women’s coworking space in Kansas City’s industrial West Bottoms district—Jackie Nguyen makes lattes laced with cardamom and lychee from her colorful mobile coffee shop. A colossal dragon head covers the shop, Cafe Cà Phê, painted the bold yellow and red of the South Vietnamese flag, with dashes of bright blue in a nod to the French influence on the country’s food. “And of course, this is Kansas City,” says Nguyen, 32. “They’re the colors of [local sporting teams] the Chiefs and Royals, too.” Cafe Cà Phê serves “Hella Good Lattes” and “Saigon” iced coffee to some 200 customers a day. Monthly revenue is roughly $30,000. “It’s been a crazy, amazing ride,” says Nguyen, a first-time entrepreneur. “The only business I knew before…

2 min.
playing the long game

Here we are, more than halfway through 2021, and an end to the pandemic remains elusive. Thankfully, some countries can now focus on vaccination rates and reaching herd immunity, but in others there are fresh outbreaks. For all the enormous progress, the world is far from out of the woods. New waves include those of the Delta variant, which is more virulent and contagious. Columnist Rich Karlgaard posits a world in which we will see a “roaring” 2020s, a global boom that will follow the conclusion of this pandemic, mimicking what happened in the 1920s after the end of the Spanish Flu pandemic. Yet it’s unclear how much darkness remains before that dawn. Patience appears to be gaining ground as a necessary trait in today’s world. The value of playing a long…

2 min.
thailand’s 50 richest

CHANGE IN WEALTH KEY UP DOWN UNCHANGED NEW TO THE LIST RETURNEE 1. CHEARAVANONT BROTHERS $30.2 BILLION CHAROEN POKPHAND GROUP 2. CHALERM YOOVIDHYA $24.5 BILLION RED BULL AGE: 70 3. CHAROEN SIRIVADHANABHAKDI $12.7 BILLION THAI BEVERAGE AGE: 77 4. CHIRATHIVAT FAMILY $11.6 BILLION CENTRAL GROUP 5. SARATH RATANAVADI $8.9 BILLION GULF ENERGY DEVELOPMENT AGE: 55 6. OSATHANUGRAH FAMILY $3.5 BILLION OSOTSPA 7. SOMPHOTE AHUNAI $3.3 BILLION ENERGY ABSOLUTE AGE: 54 8. PRASERT PRASARTTONG-OSOTH $3.25 BILLION BANGKOK DUSIT MEDICAL SERVICES AGE: 88 9. PRACHAK TANGKARAVAKOON $3.2 BILLION TOA PAINT (THAILAND) AGE: 77 10. CHUCHAT PETAUMPAI & DAONAPA PETAMPAI $3 BILLION MUANGTHAI CAPITAL AGES: 68, 67 11. HARALD LINK $2.9 BILLION B.GRIMM GROUP AGE: 66 12. KRIT RATANARAK $2.5 BILLION BANGKOK BROADCASTING & TV AGE: 75 13. ALOKE LOHIA $2.4 BILLION INDORAMA VENTURES AGE: 62 14. VANICH CHAIYAWAN $2.25 BILLION THAI LIFE INSURANCE AGE: 89 15. PRAYUDH MAHAGITSIRI $2.2 BILLION QUALITY COFFEE PRODUCTS AGE: 75 16. AIYAWATT SRIVADDHANAPRABHA $2.15 BILLION KING POWER AGE: 35 17. KEEREE KANJANAPAS $2.1 BILLION BTS GROUP HOLDINGS AGE: 70 18. THAKSIN SHINAWATRA $2 BILLION SC ASSET AGE: 71 19. WICHAI THONGTANG $1.95 BILLION BANGKOK DUSIT MEDICAL SERVICES AGE: 74 20. SATHIEN SETTHASIT $1.9 BILLION CARABAO GROUP AGE: 67 21. WILLIAM HEINECKE $1.85 BILLION MINOR INTERNATIONAL AGE: 72 22. RIT THIRAKOMEN $1.83 BILLION MK RESTAURANT GROUP AGE:…