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Forbes Asia

Forbes Asia December 2017

Forbes Asia chronicles entrepreneurs, executives and companies throughout Asia.

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Country:
United States
Language:
English
Publisher:
Forbes Media LLC
Frequency:
Monthly
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13 Issues

in this issue

2 min.
work, work, work

Corporate-speak billows with words about vision, sustainability and inclusion. We try to put a lid on that verbiage in this magazine, but at a November event in New York hosted by Columbia biz school’s Chazen Institute, I got to hear—entertainingly—from a practitioner of those concepts. Manish Sabharwal is chairman and cofounder of India’s TeamLease Services, a staffing agency on a grand scale. In an hour he spelled out not only the case for his company (amid an investment road show to shore up its $500 million market cap) but for Indian economic reforms, particularly in labor. India doesn’t lack for workers but for employable skills. TeamLease itself has to disappoint 90% of its applicants, choosing maybe 5,000 a month whom it can hope to connect to employers (“We pray to one [payroll]…

1 min.
readers say

CONVERSATION OUR LIST OF Australia’s 50 richest (November, p. 76) elicited this snark from pedestrian.tv.com’s Cam Tyeson: “In news that I’m absolutely sure is going to please each and every one of you, Gina Rinehart has managed to pick herself back up off the canvas and rise back up to once again become Australia’s Richest Person. Rejoice.... Really, really, just … just bloody great.” Added news.com.au: “No wonder she’s smiling.” Our interview with President Trump (“Winner Takes All,” p. 28) won praise from a fellow journalist: “This whole interview is great,” noted NBC News’ Benjy Sarlin on Twitter. “Most detailed policy q’s [Trump] has gotten in a long time.” CORRECTION: In “Coffee King’s Queen (p. 16) we misspelled Le Hoang Diep Thao’s second name. THE INTEREST GRAPH Our Australia list dominated the web hits:…

3 min.
surefire way to make a nation rich

CHINA’S ALL-POWERFUL leader, Xi Jinping, wants to make his country the world’s undeniably dominant economic and military power within a generation or two. India is another nation that considers itself on a potent upward ascent. Russian czar Vladimir Putin dreams of making his kingdom an unquestioned global actor, rivaling the U.S. Brazil, with its vast resources and large population, from time to time believes that it’s on the cusp of creating an undisputed developed economy on a par with or even greater than its large neighbor in the north. These leaders and countries are not alone in nursing such notions. Iran’s murderous mullahs intoxicate themselves with fantasies of ruling a global caliphate. What these states don’t yet fully grasp—or in the case of Iran, which is incapable of understanding—is that there are…

3 min.
this revolution is being televised

Chinese e-commerce giant Alibaba racked up $25.3 billion in sales during its November Singles Day promotion, beating last year’s numbers by 40%. The online shopping frenzy would again put America’s Black Friday–Cyber Monday activity in the shade. But this year especially the Hangzhou company has reason to celebrate the results of its strong push in Southeast Asia. Lazada, the e-commerce platform there in which Alibaba holds an 83% stake, saw record Singles Day sales, according to cofounder and chief marketplace officer Aimone Ripa di Meana—a $123 million total. And just wait: The 11/11 promotion kicked off a month long “Online Revolution” at Lazada, throughout which customers will be offered a variety of deals from high profile vendors such as Xiaomi and L’Oreal. The revolution culminates on December 12, or 12/12, which…

1 min.
billionaire battleground

ALIBABA Founder billionaire: Jack Ma Net worth: $40 billion 1. APRIL 2016: Buys Southeast Asian online retailer Lazada for $2 billion, with Indonesia as key market. 2. SEPTEMBER 2016: Jack Ma appointed “e-commerce advisor” to Indonesian government. 3. JUNE 2017: Announces opening of Alibaba Cloud center in Indonesia, in early 2018. 4. AUGUST 2017: Leads investment of $1 billion in Tokopedia, Indonesia’s leading online marketplace. AMAZON.COM Founder billionaire: Jeff Bezos Net worth: $95 billion 1. JUNE 2016: Reported to want to invest $600 million in Indonesia. 2. JULY 2017: Sets up Singapore operations, eyeing Indonesia. 3. NOVEMBER 2017: Said to be planning to open Indonesian operations in 2018. JD.COM Founder billionaire: Richard Liu Net worth: $10 billion 1. MARCH 2016: Official launch of Indonesia site JD.id. 2. MARCH 2017: Announces it is building at least five warehouses across the country. 3. AUGUST 2017: In bidding for stake in…

2 min.
game boy

Singaporean Min-Liang Tan’s wealth soared overnight to $1.6 billion with the listing of his gaming devices firm, Razer, on the Hong Kong Stock Exchange in mid-November, a week after he turned 40. Backed by heavyweights such as Singapore state investor Temasek Holdings, IDG-Accel and, more recently, Hong Kong billionaire Li Ka-shing, Razer’s shares rallied on its opening day, closing 18% above its initial public offering price of HK$3.88 a share. Not bad for someone who quit his day job as a lawyer in 2005 to set up Razer with his San Diego-based online-gaming pal Robert Krakoff. To date, Razer has sold millions of gaming laptops, mice, fitness bands and tablets. Tan has been the first of a new wave of tech entrepreneurs from the island state to make it to the Forbes Asia…