Forbes Asia April 2018

Forbes Asia chronicles entrepreneurs, executives and companies throughout Asia.

United States
Forbes Media LLC
USD 79.99
13 Números

en este número

3 min.
v3 group: from strength to strength

Starting with a small retail company that sold household goods in 1980, an ambitious Singaporean entrepreneur has grown a business that today spans a range of leading lifestyle and wellness brands available in 24 countries around the world. Throughout the 1980s and early 1990s, Ron Sim built a regional firm selling health and wellness products in Hong Kong, Taiwan, Malaysia and China after the recession in 1985 made it clear that he needed to grow beyond the Singapore market to thrive. The company, which was renamed OSIM International in 1993, expanded rapidly following the phenomenal success of its flagship line of OSIM premium massage chairs. Over the years, the brand has crafted a reputation for innovation across its comprehensive range of products, winning numerous industry awards for design and business excellence, including…

2 min.
changing of the guard

When Li Ka-shing pulled back last month from active management of his corporate empire, it was a symbolic moment felt all over Asia. Near 90, he is probably the most identifiable face of the generation that put regional business on the global map after the war years of the mid-20th century. That cohort has begun passing from the scene, but only after a very long run. Indeed, of the top 10 names on each of our 12 Asia-Pacific wealth lists, 28 are 80 or above. (Others of them have also retired from day-to-day operations.) The average of these 120 listings is a ripe old 68. Time is catching up with them, as it does with us all. That’s one reason that some years ago we began a feature called The Next Tycoons,…

1 min.
readers say

CONVERSATION THE KING HAS been dethroned. Unstoppable delivery dauphin Jeff Bezos usurped reigning monarch Bill Gates to claim the top spot on our annual tally of the world’s billionaires (March). With an eye-watering net worth of $112 billion, Amazon’s founder also became the first nominal centibillionaire we’ve tracked over three decades. (Some readers retain their fealty to the ancien régime: “Bill Gates forever #1,” cheered Raquel Dunn on Linked-In.) One prominent tapioca-haired gadfly didn’t fare as well, shedding $400 million of his former $3.5 billion fortune: “Entering politics has had an ill effect on President Trump’s purse,” wrote the New York Daily News’ Denis Slattery. Our profile of Malaysian billionaire Chen Lip Keong and his casino in Cambodia (“The Accidental Casino Mogul,” p. 34) inspired this retort on Facebook from Jo…

2 min.
new fed head same old, bad old

THE FEDERAL RESERVE’S new chairman, Jerome Powell, recently presided over his first meeting of the Federal Open Market Committee, which sets central bank policy, most particularly the level of interest rates. Powell looks to continue the same destructive policy that has done so much harm to the economy. The episode underscores that our central bank won’t rid itself anytime soon of its three fatal flaws: • The belief in funny money, that is, an unstable dollar. The Fed never resists when the Treasury Department wants a weaker greenback, as happened in the early 2000s under President George W. Bush. No country does well with wobbly money. Our feeble dollar was the foundation of the disasters of 2008–2009. A floating currency is as helpful as a watch or clock that can’t keep proper…

4 min.
president mckinley: architect of the american century

So obscure is the popular perception of William McKinley, the 25th president of the U.S., who was assassinated early in his second term in 1901, that there was hardly a peep of protest (other than some ritual denunciations from his home state of Ohio) when in 2015 Barack Obama changed the name of America’s highest mountain from Mount McKinley to Denali. It didn’t help that this cautious, frock-coated and self-effacing politician was succeeded by the always dramatic and dazzlingly colorful Theodore Roosevelt, whose volcanic energy sharply contrasted with McKinley’s seemingly somnolent way of doing things. Don’t judge a book by its cover, we were once taught, and in no case has this been more true than in McKinley’s. His presidential record is impressive, yet the way McKinley did things—methodically, cautiously and…

5 min.
ever skyward

Two of Hong Kong’s billionaire property moguls have set new records with the lofty prices they’ve paid for land at the city’s former Kai Tak airport. But in the world’s least affordable housing market, who’s to say they won’t come in for a smooth landing? Lee Shau Kee’s Henderson Land Development bought two plots from the cash-strapped Chinese conglomerate HNA Group for an eye-catching $2 billion in February. With a total gross floor area, on buildout, of around 1 million square feet, the transaction equates to $1,931 per square foot. By the time of its completion in two to three years and taking into account that Henderson will be pitching a high-end product, the units may sell on average for $4,076 per square foot, according to a spokesman from the developer. That’s…