Contact
  • HOME
  • / MEDIA /
  • Three Business Heirs in Asia Pave the Way for Socially Conscious Investments

News

January 19, 2024

SHARE:

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

Related Articles

Image Source: InvisaWear

Stories

Capitalizing On Her Advocacy For Women’s Protection, Young CEO Now Leading Safety Device Company Invisawear

Taking it from her unforgettable and scary experience involving safety and security, Rajia Abdelaziz realized the importance of women’s self-protection which made her put up Invisawear, now a leading safety device manufacturer.

Together with her best friend and now business partner Ray Hamilton, they designed a piece of wearable tech that allows the user to call for help and alert emergency contacts at a double-press.

InvisaWear is jewelry that can save lives. Although their components resemble ordinary accessories, they are actually safety devices supported by America’s top security supplier (ADT).

The devices have a secret panic button that can be set to dial 911, send a pre-programmed text message to five emergency contacts, and send a GPS location to the emergency services. They are worn on the body so they are nearly always available.

The co-owner was quoted saying “InvisaWear also partnered with ADT to provide access to video streaming, voice activation, and self-defense classes as a way of “equipping people to protect themselves,” 

Compared to a cellular phone, it is a more accessible safety device which comes in the form of a charm necklace.

Considering women’s safety as a very important issue, Abdelaziz rejected high-paying job offerings related to her electrical engineering training just to prioritize her advocacy even if she struggled with many challenges in starting it up.

Though laborious, Invisawear was able to raise millions of funds for the safety device.

Five years after its founding, the business has grown to produce more than just gold and rhodium-plated jewelry. It now makes fitness bands, hair accessories, and keychains, all of which have timeless appeal and fashionable, practical designs.

According to Abdelaziz in Forbes, several of their items are now also available in unisex versions since they discovered that safety wasn’t just important for women but also for some guys.

The business intends to grow in Europe and the Middle East and just announced a new cooperation with a Canadian security company.

Invisawear is a technical advancement that has significantly improved people’s lives.

Abdelaziz emphasized “One of the best moments of my life was the first time one of our devices saved someone’s life,” she says, “a young woman had been badly injured in a car accident and her keychain saved her life. Her dad was able to get to her and be with her while they waited for an ambulance, who knows how long it would have taken to find her otherwise.”

  • 3 min read
Image Source: Ben Marcum Photography

News

Christmas is Merrier at Mall of America With 6 Diverse St. Nicholas Including the First Asian Santa

After three long years of not celebrating Christmas the ‘usual’ way, children at the Mall of America (MOA) were finally sitting again in amusement and happiness on Santa’s lap. 

What makes the experience even happier and better is to have six different Santas whom children and parents can choose from in making The Santa Experience happen.

In 2016, Larry Jefferson became the first African American Santa Claus in MOA. 

Now, Jefferson will not be alone in completing the Christmas vibe as a diverse group of Santas will be working together to do the task. Among them are two African Americans and the first-ever Asian Santa Allan Siu, named “Santa Allan” in MOA’s record.

All of them are ready to listen to the Christmas wishes from young and young-at-heart people.

With two of the Santas able to speak both Spanish and Cantonese, it adds color in telling the children if they were naughty or nice.

“To run across someone who speaks your language, there’s kind of a bond there. Not only is the language a bond but there is also some sort of psychological bond,” Allan told Fox.

  • 1 min read
Image Source: ESQA

News

First Indonesian Vegan Cosmetic Startup Obtains $6 Million Funding From Unilever Ventures

The first and top vegan cosmetics company in Indonesia, ESQA Cosmetics, raised $6 million in a series A round led by Unilever Ventures marking the latter’s first investment in the Southeast Asian beauty market.

In the said round, East Ventures also participated, the venture arm of the global consumer goods giant.

After spending over ten years living and working in Los Angeles, Cindy Angelina and Kezia Trihatmanto created ESQA in 2016, shortly after their return to Indonesia.

The two intended to redefine luxury cosmetic products and make them more widely available and reasonably priced.

With the acquired funds, the company plans to use the money to reach more cities and markets while also extending its omni-channel distribution.

Additionally, they want to expand their product offerings, foster talent development, and amplify their marketing initiatives.

Prior to this, the company reportedly increased its sales to Vietnam, Singapore, and Malaysia. 

TECHINASIA mentioned that one of the company’s expansion initiatives was to sell its goods through Sociolla’s physical storefronts, another East Ventures-backed startup.

Accordingly, the business stated that despite the pandemic, it had managed to turn a profit with its 120 vegan and Halal-certified products.

Avina Sugiarto, a partner at East Ventures, stated in Deal Street Asia that by having consistent profitability, they weren’t looking for high-quality, hyperlocal, and affordable beauty products.

She continued saying “We were certain that ESQA’s innovative, natural ingredients and wide-product offerings will propel ESQA to be a leader in the beauty market in Southeast Asia.”

  • 2 min read
Image Source: Luis Sinco / Los Angeles Times

News, Stories

Enjoy Your Favorite Filipino Dishes Along With A Comedy Show at Eagle Rock’s Kusina Filipina

Big egg-shaped platters filled with famous egg noodle pancit, mouthwatering pork sisig, cold cans of beer, and blithe stand-up comic acts are offered as part of the restaurant’s unique dining experience.

The brain behind the comedy events is Filipino-American C.J. Toledano, who was born with the background necessary for such lighthearted entertainment.

The Eagle Rock neighborhood of Filipino Americans is the ideal fusion in creating the weekly program that is so exceptionally Los Angeles.

The restaurant’s co-owners, Jun Miranda and Vener Ramos, greased the wheels to serve the dishes and beverages that the predominantly Filipino audience was clamoring for when actress and stand-up comedian Felicia Folkes performed.

Toledano recalled how the Wednesday show got started and said in the Los Angeles Times that Jun Miranda was all about it.

“He just said, ‘The restaurant is yours on Wednesday nights,” Toledano stated which was backed by Miranda saying “I immediately said yes. Of course, I wanted to help the Filipino community.”

Toledano, who co-hosts the program with Orolfo and Rob Haze, stressed that the event is not just for mutual benefit but that “I have a specific vision for the show and the comedians who do it. [I want] people I’m fans of,” he continued.

He added that the intensely vibrant, funky, and fatty flavors of Filipino cuisine at “Motherland”— including the crispy sisig,a deep-fried chopped pork belly flavored with a little of lemon juice, diced onion, bell pepper, ginger and, a little of chicken liver spread;  dinakdakan, a combination of grilled and boiled pork belly mixed with onions, peppers — and mayonnaise; chicken adobo with quail egg and fried potatoes; and halo-halo, among others—are just as electrifying as the acts on stage.

“I’m a Filipino guy who grew up in Pennsylvania. I didn’t have many Asian friends. So the show is really killing several birds with one stone — I’m in touch with a culture I was never close to. I’m seeing old friends. New comics. It’s exciting for me,” Toledano admitted.

  • 2 min read