Forbes Asia October 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.
cold reality

Five months ago, in a round of Asian talks, I said the U.S. and China were in for a long, bumpy stretch but not a full trade war. Half right, I guess. Clearly, relations have grown stiff on multiple fronts. First off, the layers of tariffs are sticking rather than being feints for negotiating advantage. This will gum up global commerce even without accompanying acrimony, and be a net loss for the U.S. and China, and economies in between. But trade parity is far from the only contested ground now. A variety of military, development and diplomatic rubs have developed, with China’s repressive domestic policies always adding background noise to the clamorous “dialogue.” President Trump has even taken to the notion that Chinese propaganda is figuring in the election shellacking he is…

1 min.

OUR STORY about the fierce competition in the co-working, office-space market in China, featuring Chinese startup Kr Space versus WeWork (“Seats, then Services,” September, p. 18), provoked speculation on Twitter from @gordonorr: “Will WeWork suffer the same fate as Uber in China? Intense price-based local competition driving them out? Or will their market segment create a large enough group willing to pay a premium for the WeWork solution?” Volatility roiled our annual roster of the Philippines’ 50 Richest (p. 84), prompting Malaya Business Insight Online to cryptically quip “Crazy rich Filipinos” on Facebook, in honor of a recent smash-hit movie. the workout regimen of triathlete Wilfred Steven Uytengsu Jr. (No. 38 on the Philippine 50 List) earned this healthy tweet from @SWIMBIKERUNph: “IRONMAN Triathlon in the Philippines is in good…

6 min.
the disaster of 2008 why it can happen again

COUNTLESS COMMENTARIES and articles are marking the tenth anniversary of the panic of 2008. Yet almost all ignore the root cause of the crisis: a weak dollar. A wobbly, volatile currency always begets economic upheavals. If we don’t grasp that fundamental lesson, we will inevitably get into trouble again, big time, in the future. Moreover, these retrospectives overlook or downplay two other major blunders by the federal government. Here are the three. • Damaging the dollar Precipitated by the popping of the high-tech bubble, the economy weakened in 2000 and went into a formal recession the following year. In response, the Federal Reserve started to cut interest rates. Then it and the Treasury Department (which by law is in charge of the dollar) began to undermine the value of the greenback. That was…

10 min.
out of limbo

For nearly three years it’s been an odd sight in Singapore’s Civic District. The centerpiece of the $800 million Capitol development project—two colonial landmarks transformed into a luxury hotel—appeared to be finished, but then didn’t open. No limousines dropping off dignitaries. No Michelin-starred chefs whipping up extravagant meals. No wealthy visitors loaded down with shopping bags. This month the opulent, 157-room hotel finally opened, under the Switzerland-based Kempinski brand. It’s the end of a bruising battle that pitted two of Singapore’s top real estate tycoons against each other before culminating in a drawn-out court case. Despite losing in court, Pua Seck Guan and his Perennial Real Estate Holdings emerged with full control. The task ahead: to turn his project on Stamford Road—which includes the iconic Capitol Theatre, the vast Capitol Piazza…

10 min.
delivering the goods

Cambodia can be a hard sell, but Rithy Sear relishes the challenge. When he courts potential business partners from overseas, he listens to their worries about the small size of the market, the flourishing trade in smuggled goods, the corruption. And once they’re done, he begins working tirelessly to reshape their opinions. Sear’s negotiating advantages are preparation and confidence. He usually doesn’t meet investors in his office. That’s a cluttered, temporary suite in the Phnom Penh headquarters of his Worldbridge International, his logistics, property and investment company. Instead, he chooses the exclusive business lounge on the 12th floor of the Sofitel Hotel, where the floor-to-ceiling windows lead your eyes to The Bridge, his gleaming 45-story hotel, retail and condominium complex that will be completed by the end of the year. That’s…

5 min.
get in the game

Jason Chen had spent 23 years in big global tech, but when Acer’s board of directors asked him how he would turn the ailing Taiwan icon around, he paused. “I said, ‘I’ve never done that,’ and the next question was, ‘How are you going to do it?’” Chen recalls. Chen landed the job and over four years has turned the company around. Recent quarters have seen sizable jumps in revenue and profitability, to levels not seen since the PC maker was making Forbes Asia’s Fab 50 list of best companies in 2010. (In recent years it hasn’t even qualified for our Global 2000 ranking of biggest firms.) Chen, 56, has accomplished this largely by getting Acer back to what made its name: personal computers. You know, those boxes you thought had been…