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January 19, 2024

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Across Asia, a new wave of second- and third-generation business heirs is redirecting family enterprises toward sustainable investments, challenging traditional profit-centric businesses.

Komal Sahu, Chief of Sustainable Finance at AVPN, the largest network of social investors in Asia, notes that younger generations are recognizing their family’s wealth as a catalyst for positive transformation. By integrating environmental, social, and governance factors into their investments, these heirs aim to drive positive change while maintaining financial viability.

Al Jazeera has shared three business heirs across Asia that exemplifies this:

In Malaysia, 27-year-old Abe Lim, an heir to a lubricant and cleaning products business, departed from her father’s profit-focused approach, despite being groomed to take over the company. Instead, she founded Purpose Plastic, successfully transforming discarded plastic into home decor and other products while emphasizing sustainability.

Image Source: Al Jazeera / Abe Lim

In some cases, the older generation encourages innovative thinking to secure the ongoing success of their businesses. The Lopez family in the Philippines, known for success in telecommunications and energy, divested from coal in 2016 to focus on renewable energy. Marianna Lopez Vargas, partnerships manager at the Oscar M Lopez Center, believes that a complete transition to renewables is achievable with the right incentives.

Singapore-based Fernando Scodro, responsible for his family office’s investment strategy, is educating his family about socially conscious investing, which leads to impactful investments like COGNI, a Brazilian startup focused on energy efficiency.

As these Asian business heirs redefine success, their commitment to sustainable investments signals a profound shift toward a more socially and environmentally conscious business landscape.

Featured Image Sources: Al Jazeera, Esquire PH, X

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Image Source: The Harvest Official Trailer - YouTube

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Upcoming ‘The Harvest’ Movie Features a Hmong Family and the Strength and Endurance of their Bond

Recently, Asian Americans are receiving a lot of praise in both film and television. The fact that Asian Americans are becoming more visible is fantastic, but most of these movies just focus on Chinese Americans, which is limiting for other Asians, particularly South and Southeast Asians.

This is what inspired Caylee So’s The Harvest, highlighting the Hmong community, illustrating how similar and yet dissimilar this culture is to what western society considers to be “Asian.”

The synopsis of the movie is that, Thai Moua returns to his family’s home in Southern California after several years of living in San Francisco to find his entire world in chaos.Thai and his family maintain a brave façade while witnessing the debilitating effects of his father Cher’s kidney failure. Thai is torn between trying to please his father and wanting to live his own life, between being a good son and growing up, but most of all, he is conflicted about keeping the cause that has kept him away for so long a secret.

The Harvest addresses the tenacity and endurance of family ties and how they can carry us through even the most trying times in a powerful and sympathetic way.

Doua Moua, who plays Thai and also wrote the compelling screenplay, said in a press statement, “As an actor, I was told my type of Asian does not fit into the narrative of America, which led me to writing narratives that I wanted to tell. I want to redefine what diversity really means and that is inclusion in front and in back of the camera.”

The show stars Doua Moua (Mulan & Gran Torino), Perry Yung (Warriors & The Knick), Dawn Ying Yuen, Chrisna Chhor, Lucas Velazquez, Hua Lee, Alfonso Caballero, Tomas K Thao, Mai Moua, Tsabmim Xyooj, Kue Lee, Chai Yang, ZhongKhang Yang, Mary Ly, Amery K Thao, Anneston Pisayavong, Arianna Rivas, Blake Kevin Dwyer, Greg Yoder, Christine Lin, and Tress Glenn.

The Harvest is not yet scheduled for release.

Image Source: Bloomberg

Stories

Mala Gaonkar – The Woman in Charge of the Biggest Hedge Fund Launch

With $1.8 billion under management, Mala Gaonkar’s SurgoCap Partners began trading and made history as the largest debut of a woman-led hedge fund in the industry’s history.

SurgoCap Partners invests in technology’s influence on financials, industrials, healthcare, and corporate data. The 20-person company bets on and against equities and can invest 25% of its assets in privately held enterprises.

At an investor conference in June, Gaonkar expressed her support for ServiceNow Inc., an enterprise software provider that aids in workflow automation.

Born in the US and raised in Bengaluru, India, Mala was a Kauffman Fellow. After graduating from Harvard with an MBA and economics degree, she founded Lone Pine in 1998. Later, she managed technology, media, internet, and telecom bets as a portfolio manager. She led the firm’s long-only funds.

She is also a founding trustee of Ariadne Labs, the Queen Elizabeth Prize for Engineering, the Tate Foundation, and Surgo Ventures, a charity that produces data-driven social and health solutions.

She is setting aside $100 million in capacity at SurgoCap for smaller endowments, foundations, and organizations that support marginalized populations or address climate change. She has amassed $35 million thus far.

Mala signed the Giving Pledge that she would devote the majority of her wealth to charitable causes.

Image Source: Legacies of War

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First Lao-American and Millennial To Sit As Chair Of The US Campaign To Ban Landmines – Cluster Munition Coalition

Legacies of War (LoW) CEO Sera Koulabdara is the new Chair of the US Campaign to Ban Landmines – Cluster Munition Coalition (USCBL-CMC). She will be the first millennial, BIPOC, and afflicted nation native to assume the job.

LoW is the only worldwide U.S. advocacy and educational organisation that addresses the repercussions of the American Secret War in Laos and its battles in Cambodia and Vietnam during the Vietnam War, including UXO disposal and victim/survivor support.

Héctor Guerra, Director of International Campaign to Ban Landmines (ICBL), has welcomed LoW, acknowledging their work as a great example of global collaborative efforts in supporting communities affected by landmines and cluster munitions.

According to Mary Wareham, Arms Advocacy Director of Human Rights Watch, there could not be a better placed organization to coordinate the USCBL-CMC than LoW, as it is committed to ensuring that the US joins and adheres to the international treaties prohibiting antipersonnel landmines and cluster munitions.

CEO of Roots of Peace, Heidi Kuhn, also recognized how fortunate USCBL-CMC is to have Sera as Chair, with her unique qualifications as a leader in mine action, and her family heritage in Laos as the basis of her passion. She claimed that Sera brings a renewed spirit of home to the UXO campaign.

Sera shared in her bio in LoW’s website, that she hopes to make a positive difference in the lives of the people in her father’s beloved homeland, Laos, and to create hope for future generations.

Image Source: Business News PH

Stories

Through Perseverance, Young Entrepreneur Operates 5 Fried Rice Restaurants and 30 Takoyaki Stalls At Age 21

Rice is an essential part of the Asian diet, and it is enjoyed in many different forms. One of these is the classic fried rice, which everybody knows is a tasty and easy meal.

At the age of 21 years old, Briko Galeon from Tarlac City, Philippines, was able to expand his Korean Spam BKB Fried Rice business to 5 branches in just a span of 3 months. Aside from this, he also has a takoyaki business that he was able to expand into 30 branches within 1 and a half years of operation.

One of Briko’s franchisees, Sharmaine Anne De Leon, shared that she used to scroll social media posts about Korean fried rice and have cravings for it. She also said that BKB Fried Rice products are really good, and that’s why getting a franchise with BKB was an easy decision for her.

Briko shared that his inspiration for putting up businesses was his parents. He wanted to give back to his parents and be able to buy them gifts using his own money. Due to his success, he was able to buy 2 cars and is now providing for his family’s needs.

There isn’t an age too young or too old for a person to become an entrepreneur. Briko’s advice is to find a product that you genuinely love or are passionate about. Once you do this, it will be easier for you to learn about the product, its market, and how to serve it.