ARA LOGOS Commodity Hub Courtesy of ESR ARA LOGOS Logistics Trust—backed by tycoon John Lim and billionaire Chew Gek Khim’s Straits Trading—on Friday agreed to merge with ESR REIT in a deal valued at S$1.4 billion ($1 billion) that aims to tap the booming e-commerce demand for warehouses and logistics facilities across the Asia-Pacific. The… More
Natarajan Chandrasekaran, chairman of Tata Sons, speaks during the launch of the Tata Nexon electric … [+] car, in Mumbai on January 28, 2020. INDRANIL MUKHERJEE/AFP via Getty Images Tata Motors has reached a deal to raise about $1 billion by selling a stake in its electric-vehicle business to a TPG fund and other investors,… More
Ajay Piramal Courtesy of Piramal Enterprises. Fresh from the $4.7 billion acquisition of troubled lender Dewan Housing Finance Corporation Ltd. (DHFL) last week, pharma tycoon Ajay Piramal, 66, is simplifying the structure at the $1.7 billion (fiscal 2021 revenue) Piramal Enterprises by creating a diversified financial services conglomerate and a leading pharma player. On Thursday,… More
Ajay Piramal at his office on March 16, 2015 in Mumbai, India. Abhijit Bhatlekar/Mint via Getty Images Ajay Piramal’s pharma and financial services flagship Piramal Enterprises completed its $4.7 billion acquisition of Dewan Housing Finance Corporation Ltd. (DHFL) on Wednesday, creating one of the largest affordable housing finance companies in the country. As per the… More
HNA Group Chairman Cheng Feng in 2011. Photographer: Adam Dean/Bloomberg 2011 Bloomberg Finance L.P. The English-language website of Chinese conglomerate HNA Group is dotted with photos of chairman Chen Feng accepting prestigious awards and international praise in 2017 and 2018. Articles include “HNA Group Chairman Joined UNICEF’s Inaugural International Council — UNICEF recognizes Chairman Chen… More
Girish Mathrubootham, founder and CEO of Freshworks. BARAK SHRAMA When Girish Mathrubootham cofounded cloud services firm Freshdesk in the southern Indian city of Chennai in 2010, he knew exactly what he was aiming for: “We wanted to go big or go home,” he disclosed to Forbes in a 2019 interview that now seems prescient. That… More
Over the first three years of the Forbes Blockchain 50, our list of billion-dollar companies making meaningful use of the technology popularized by bitcoin, has become a bellwether of institutional adoption. Our list shines light on how large corporations—often household names like Walmart and Novartis— are using blockchain tech to improve business processes and become… More
Whiskey drinking takes off in Asia. © 2020 Bloomberg Finance LP As the world was kept at home last year, alcohol markets did furiously well. But now that lockdown measures are mostly over normality should prevail, shouldn’t it? Not, it seems, for the rich. “Spirits are on fire right now. They’re really growing at the… More
Delfin J. Wenceslao Jr. PHOTO BY COURTESY OF DELFIN J. WENCESLAO JR. Delfin J. Wenceslao Jr.—the controlling shareholder of Philippine-listed real estate developer D.M. Wenceslao & Associates—has died at age 77. “It is with great sadness that the board of directors and management of D.M. Wenceslao & Associates announce that it was informed of the… More
Bancha Ongkosit KCE Electronics Shares of KCE Electronics, a Thai manufacturer of printed circuit boards, have jumped 534% since March last year boosted by rising demand from the auto industry. This has propelled its founder and chairman, Bancha Ongkosit, into the ranks of the world’s billionaires. Ongkosit, 70, has an estimated net worth of just… More
People gather outside the Evergrande headquarters in Shenzhen, southeastern China on September 14, … [+] 2021. NOEL CELIS/AFP via Getty Images Chinese billionaire Hui Ka Yan is probably edging towards a restructuring of Evergrande’s whopping $302 billion in total liabilities, as the property developer makes little progress in averting a mounting debt crisis that has… More
People cross Robinson Road in the financial business district in Singapore on August 16, 2021. ROSLAN RAHMAN/AFP via Getty Images ARA Asset Management—partly owned by tycoon John Lim—has agreed to sell an office tower in the Singapore central business district for S$422 million ($314 million), adding to signs investor appetite is returning despite the lingering… More
Forrest Li, chairman and group chief executive officer of Sea Ltd., poses for a photograph in … [+] Singapore on Wednesday, July 8, 2020. Demand for Sea’s mobile games and online-shopping platform has surged during the pandemic, and the company is bidding on a Singapore digital-banking license to accelerate its push into financial services. Photographer: Wei Leng… More
Persistent Systems’ headquarters in Pune. Courtesy of Persistent Systems At age 28, Anand Deshpande was living a techie’s Silicon Valley dream working as a tech engineer for Hewlett Packard in Palo Alto when he began thinking of his options: “Either you return to India now or you settle down in the United States and a… More
getty Vasudeo Goenka, patriarch of the family behind Mumbai speciality chemicals maker Laxmi Organic Industries is India’s newest billionaire. His wealth crossed the $1 billion mark this week thanks to a nearly 200% surge in the company’s shares since its March IPO. Goenka, 81, is chairman emeritus of the $242 (revenue) million company, which is… More
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