Edward Tay (Prof)’s Post

What a great way to kick off Asian American Pacific Islander Heritage Month last May 1! Thank you very much to FIIRE - Filipinos in Institutional Real Estate for hosting my panel alongside Jennifer Taylor, Brian Hwang, John Richard (J.R.) Chantengco, and Brian Seaman. Our thanks to Mary Ann Rivera of New York Life and Matthew Lapitan of JPMorgan Chase & Co. for sponsoring the gathering, and to #FIIRE #NYC leads Joel Dabu and Rachel Butiu for putting everything together. #CommercialRealEstate #CapitalMarkets are at an inflection point, and it is important to have substantive conversations with #industry front-liners to truly have one's finger on the pulse of the #market. #AAPI

Seoul: The New Centre of Global Business and Finance Seoul is rapidly becoming a powerhouse in global business and finance, driven by sustained economic growth, technological advancements, and a favourable business environment. South Korea’s capital is now a key player with its robust GDP, diverse industries, and strategic location in East Asia. The city is a leader in innovation, home to tech giants like Samsung and LG, and boasts world-class digital infrastructure. Seoul’s financial services sector is flourishing, supported by the Korea Exchange and numerous multinational banks and investment firms. For international businesses, Seoul offers unparalleled opportunities. The South Korean government supports this with favourable policies and incentives, making it easier for foreign companies to thrive. Trois Lions is your ideal partner for entering the South Korean market. We offer tailored consultancy services, helping you navigate market entry, regulatory compliance, and local partnerships. With our deep local knowledge and international experience, Trois Lions ensures your business success in Seoul. Join us in Seoul, where the future of global business and finance is being shaped. Let Trois Lions be your gateway to success in this dynamic metropolis. #Business #Finance #Seoul #GlobalBusiness #TroisLions #Innovation #Opportunity

Singapore will have a new Prime Minster come 15 May this year. This generational change from the third or 3G to the 4G leadership is epochal as it marks another crucial milestone in the history of our young nation. PM Lee Hsien Loong has served with distinction in his role as Prime Minister for close to two decades. His leadership has seen Singapore grow in leaps and bounds as our general standard of living increased, along with major restructuring of our economy to be more innovative and high-tech as well as significant infrastructural investments and upgrades. Singapore's position on the world stage also increased as we are seen as a neutral and credible interlocutor and convener, and an attractive and safe destination for investments and talents from round the world. That PM Lee is handing over the baton to DPM Lawrence Wong in May, a good half a year ahead of the previous timeline of the PAP’s 70th anniversary, which falls on 21 November 2024, also signals his full confidence in his successor's readiness for the top job. The 4G leadership, in its Forward SG report, called on Singaporeans to partner the Government in developing a fair, caring and inclusive society with people progressing together. But the foundations and wherewithal for this shift in tone, emphasis and approach can be traced to PM Lee's leadership, as he built in a more inclusive, sustainable, and compassionate ethos to both governance and policies, and their implementation on the ground, in keeping with the shifting needs, values and mores of Singaporeans. As the 4G leadership takes over the reins, it is imperative that all Singaporeans rally behind it and give it our utmost support. This is because, it is not unexpected for foreign adversaries to test the mettle of the new PM and his team, and developments, both endogenous and exogenous, are anticipated to combine to create strong centrifugal pressures and test the unity, viability, and success of our nation. Singapore is a small country and the track record of small nations surviving the currents of history is abysmal. But if the past 59 years is any measure, Singapore can continue to shine bright as a little red dot, if we remain united, led by leaders with huge hearts and sharp minds, stay exceptional in what we do, and provide value to the world at large. #Singapore #4G #leadership #governance #publicpolicy (Image: ST)

Week 36 - 5 Things to Know in Investing This Week Point 4) Las Vegas Sands Makes a Telling Move: Las Vegas Sands ($LVS) owns integrated resorts and casinos in Singapore and in Macau. The Marina Bay Sands in Singapore is performing at record levels. Recent results have exceeded even pre-Covid highs. The recent weakness in $LVS stock has come from Macau where concerns about the Chinese economy have led to a lower stock price. Sands China (1928.HK) is the company that owns almost 30% of Sands’ Macau assets. $LVS owns the remainder. Sands China was trading at $24.50 as recently as February and has fallen more than 40% since then. While concerns about the Chinese economy are legitimate, visitation, gaming revenue, and property-level EBITDA have all risen rapidly. So, what did management just do?

Had the pleasure of joining the The European Chamber of Commerce in Hong Kong for a terrific panel moderated by the inimitable Johannes Hack (Vice Chairman, EuroCham). A pleasure to join Alpha Lau (Director-General, InvestHK) and Stefanie Evennett (Financial Times, ex-CE of Australian Chamber, HK) for an invigorating and refreshingly candid discussion on the sentiments of European businesses on Hong Kong. Given the closed-door nature of the discussion, I shall not divulge the contents of what was discussed. It was very refreshing and encouraging to hear the pragmatic, robust, and deeply moving words of Ambassador Harvey Rouse and EuroCham Chairman Iñaki Amate, who have shown incredible tenacity and sensitivity in maintaining the invaluable ties between Hong Kong and Europe. The European Union is a critical trading, finance, and commercial partner to the SAR - but also an indispensable source of academic talents, educators, and students to our city. Hong Kong's strengths lie in its being a "permanent home for short-stay travellers" - individuals who come for a week, then stay for upwards of two to three decades. Our ethos as a cosmopolitan hub and "third space" for great, independent minds has withstood the tests and trials of two world wars, a Cold War, and numerous global financial crises. Whilst the future path ahead could well be bumpy, this does not thereby warrant fatalism -- Hong Kong must punch above its weight with a vision of ambition, thorough industrial and geographical diversification in partnerships, and a deeply rooted commitment to organic differentiation from the other parts of China.

Week 36 - 5 Things to Know in Investing This Week Point 4) Las Vegas Sands Makes a Telling Move: Las Vegas Sands ($LVS) owns integrated resorts and casinos in Singapore and in Macau. The Marina Bay Sands in Singapore is performing at record levels. Recent results have exceeded even pre-Covid highs. The recent weakness in $LVS stock has come from Macau where concerns about the Chinese economy have led to a lower stock price. Sands China (1928.HK) is the company that owns almost 30% of Sands’ Macau assets. $LVS owns the remainder. Sands China was trading at $24.50 as recently as February and has fallen more than 40% since then. While concerns about the Chinese economy are legitimate, visitation, gaming revenue, and property-level EBITDA have all risen rapidly. So, what did management just do?

mexico is growing as one of the largest growing economies in latin america.

As we bid farewell to Prime Minister Lee Hsien Loong, whose leadership has shaped Singapore's remarkable journey, it's essential to reflect on the cornerstone of our nation's success: xn--6y1hcbcd.https://https://lnkd.in/gNccXTYx In his recent May Day Rally Speech, Prime Minister Lee emphasized the pivotal role trust plays in Singapore's progress. As I reflect on his words, I'm reminded of the core principles that guide 𝐨𝐮𝐫 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐩𝐥𝐚𝐭𝐟𝐨𝐫𝐦 – 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐟𝐨𝐮𝐧𝐝𝐞𝐝 𝐨𝐧 𝐭𝐫𝐮𝐬𝐭 𝐚𝐧𝐝 𝐮𝐧𝐰𝐚𝐯𝐞𝐫𝐢𝐧𝐠 𝐢𝐧𝐭𝐞𝐠𝐫𝐢𝐭𝐲. In the digital realm, where transactions occur at the speed of light and data is paramount, trust is not just a virtue but a strategic imperative. It's the bedrock upon which lasting relationships are built, both with clients and within our team. In Singapore, trust has been the catalyst for economic growth, social cohesion, and international collaboration. It's what propels us forward, even in the face of adversity. As we honor Prime Minister Lee's legacy, let's reaffirm our commitment to fostering trust in all our endeavors. Because in a world of constant change, trust remains the timeless currency of success.. hashtag #genz #singapore #trust #highintegrity #leadership #secretstosuccess

Macau Seeks Economic Diversification Beyond Gaming Macau, long recognized as the world’s casino capital, is pivoting towards economic diversification as concerns mount over the sustainability of its gaming-centric economy. The territory, heavily reliant on its vibrant gambling industry, is now witnessing a push from key leaders to embrace broader economic avenues in light of recent challenges, including regulatory pressures and shifting global economic dynamics. Sam Hou Fai, a former judge and leading contender for the role of Macau’s next chief executive, has emerged as a prominent advocate for this diversification strategy. Emphasizing the urgent need for change, he has openly criticized the rampant expansion of the gaming sector, labeling it “barbaric” and detrimental to the territory’s long-term viability. Hou Fai’s vision encompasses not only an expansion of tourism beyond gaming but also the development of cultural, technological, and entertainment sectors that can provide stable revenue streams independent of the fluctuating fortunes of gambling. The challenges facing Macau’s economy are manifold. Following the COVID-19 pandemic, the territory has seen a dramatic decline in tourist arrivals, particularly from mainland China, which accounted for a significant portion of its Full Story https://buff.ly/3MTN3FT

A really thoughtful and interesting breakfast discussion held by The British Chamber of Commerce in Hong Kong. Strengthening the independence and effectiveness of corporate boards in Hong Kong. Many thanks to Prof. Lapman Lee ✔ from The Hong Kong Polytechnic University and Kelly Lee from Hong Kong Exchanges and Clearing Limited (HKEX) for a deep dive into the new Hong Kong Exchanges and Clearing Limited (HKEX) Consultation paper on Board Governance. INEDs will be capped at 6 positions/boards INEDs will be capped at 9 years Boards will need to conduct Board reviews every 2 years Nomination committees need to be mixed genders Boards need to evidence a Board Matrix of skills Boards need to designate a Lead INED if the Chair is not independent All good progress. Meraki Executive Search & Consulting is actively leading on #Boardrecruitment, #BoardTraining, driving more #genderdiversity on boards, and running #BoardReviews. We think Hong Kong Exchanges and Clearing Limited (HKEX) is making good improvements with these proposals. We would like to go further; -Ensure board reviews conducted by external organisation -Encourage listed companies use external parties for board recruitment -Strive for more than just the 1 woman on the board as ED/INED, as per current requirements We are moving in the right direction, and of course we encourage big ambitions for Hong Kong! Kirti Lad Fiona Nott Winnie Yuen David S. Lee (이승우, 李乘雨) David Bishop Nicholas Allen Jean-Pascal Tricoire Paul Kennedy Edmund Tang Rob Sheffield - 施樂德 Eileen O'Connell Kathryn Weaver #diversity #womenonboards