Angela Leong
Forbes last week announced its list of Asia’s 50 Power Businesswomen for 2016, recognizing 50 powerful businesswomen in Asia and acknowledging the progress women are making in the corporate world.
China and Hong Kong dominated the list with 14 women, followed by India with eight, Thailand with five and Japan with four. Singapore, Australia, Indonesia and Vietnam each have three candidates while South Korea and The Philippines have two. Macau, Taiwan and New Zealand are each represented in the list once.
Nita Ambani, an Indian businesswoman who is the director of the board of Reliance Industries and founder-chairperson of Reliance Foundation, has topped the list.
Moreover, despite the corruption crackdown in China, a few of this year’s winners are accumulating wealth in the country’s manufacturing sector. This list includes Ma Xiuhui, who started a company producing traditional light bulbs and now lights homes around the world with her Opple LED lighting, and Mou Jinxiang, whose Lianhe Chemical sells specialty chemicals to giants such as Dow Chemical and BASF.
In Macau, Angela Leong, managing director of SJM Holdings and chairman of L’Avenue International Holdings, has been included in the list of powerful businesswomen.
Forbes points out that the business she created last year to consolidate her assets, L’Avenue International Holdings, is anchored by two trophy properties: the Entertainment Building, a commercial tower in Central Hong Kong, and L’Avenue Shanghai, a luxury shopping mall co-developed with French conglomerate LVMH.
SJM, one of the six casino operators, posted a 63 percent drop in net profits for 2015 to USD 318 million, as revenue slumped almost 39 percent to USD6.25 billion.
Leong’s wealth of US$1.5 billion has also earned her a spot in Hong Kong’s 50 richest people in 2016.
Forbes is famous for its lists and rankings, including rankings of the world’s top companies and the world’s billionaires list.
To make it on the list according to Forbes, candidates must be active in the upper positions of business in Asia, wield significant power and have access to robust financial resources. Staff reporter
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