Forbes Asia September 2018

Forbes Asia chronicles entrepreneurs, executives and companies throughout Asia.

United States
Forbes Media LLC
USD 79.99
13 Números

en este número

2 min.
rich, yes. crazy?

Even many of the favorable reviewers of the hit movie Crazy Rich Asians concede it is familiar romantic-comedy fare from Hollywood, save for the faces. Yet therein lies the basis of a cultural moment, as Asian characters assume mainstream roles for a largely Western audience. Of direct interest to Forbes Asia readers is the backdrop of the story (earlier a book by Kevin Kwan): the tussle between traditional and modern mores in an extremely wealthy Singaporean Chinese family. Of course this film is an entertaining caricature, although I trust it inspires conjectured likenesses to real clans. Singapore itself appears in several glam cameos. The vast fictional fortune itself, however, popularizes what this magazine has been reporting for years: the Asia-Pacific region’s extraordinary personal riches. If this cinematic staple is nevertheless a breakthrough…

1 min.
readers say

CONVERSATION OUR PROFILE of Myanmar tycoon Thein Tun (“We Have to Worry,” July/August, p. 22) sparked this quote/comment from @TMclaughlin3: “‘In 2014 I did a stupid thing—I bought the Myanmar Times.’ A ringing endorsement of the newsroom from the boss.” Regarding the business climate that Tun is facing in Myanmar, the International Campaign for the Rohingya posted this on Facebook: “Further proof that genocide is bad for business. International condemnation of the Burmese government’s genocide of the Rohingya has led to widespread cancellations by Western tourists. More ominously, foreign direct investment also remains well off its 2015 highs and property values are down.” Regarding our story about four generations of women in Thailand running a business (“Riverboat Queens,” p. 30), this from “Out & About in Southeast Asia” on Facebook: “It’s…

6 min.
time to terminate “assisted dying”

In 2002 Belgium legalized the murderously chilling act of euthanasia, whereby doctors and nurses kill patients with their supposed consent. Holland had formally done the same the year before. This practice, all too reminiscent of what Nazi Germany did before WWII to the mentally handicapped and to people with very serious disabilities, is justified these days not by Hitlerian theories of “purifying the race,” of course, but as a “humane” way to deal with those who are suffering mortal illnesses and in extreme pain. Many thousands of patients have been disposed of since Holland and Belgium enacted these morally repugnant laws. Belgium now allows euthanasia to be applied even to children, acknowledging recently that between Jan. 1, 2016, and Dec. 31, 2017, two children, ages 9 and 11, who were afflicted…

3 min.
political roast

Taiwan President Tsai Ing-wen’s summer stop at an 85C bakery cafe in Los Angeles left a bitter aftertaste on both sides of the Straits. When word of Tsai’s visit reached China, accompanied by photos of the president with drink in hand, netizens on the mainland began calling for a boycott of the chain in their country because they saw the event as an endorsement of Taiwan’s independence. The chain’s parent company, Gourmet Master, saw its Taipei-listed shares slump nearly 14% in the weeks following, wiping out $224 million of its market value. Gourmet Master appeared on the 2012 iteration of Forbes Asia’s Best Under A Billion companies list. The day after the presidential visit, the bakery-cafe chain announced its support for the “1992 Consensus,” an agreement between China and Taiwan to acknowledge that…

3 min.
where e-cash is king

China has experienced a fintech explosion in recent years, with top companies dominating the industry. It’s not an accident that Alibaba spinoff Ant Financial and Tencent rule digital payments, or that Yirendai and Lufax are major players in the online lending sector. All of these companies have garnered large amounts of investment, expanded into areas with high levels of demand and have successfully diversified out of their core business. Ant Financial is not yet publicly listed, but it received Series C funding of $14 billion in June. While Tencent’s WeChat Pay is not part of a subsidiary, it continues to reap funding from Tencent investors. Tencent (see p. 45) is a juggernaut whose Hong Kong Stock Exchange shares, even after a recent dip, have risen 100-fold since its IPO in 2004.…

4 min.
magic mirror

At a busy mall in Shanghai, shoppers are lining up to create their own personal avatars to try on new clothes. The store, named Moda Polso (Italian for “fashion pulse”), gives customers the chance to see themselves wearing different garments without the hassle of actually changing clothes, allowing them to make their choices more quickly and easily. Moda Polso opened in May as a pilot project of Shanghai’s “new retail” apparel company, Pulsion. New retail, a term coined by Alibaba’s Jack Ma, refers to the integration of online and offline resources in order to revolutionize the retail experience. “[Virtual fitting rooms] connect consumers, products and stores, providing a novel and convenient shopping experience,” says Zhang Tianbing, a retail analyst at Deloitte China. Revolutionary or not, the Moda Polso outlet certainly doesn’t look…