MAY 2018 FORBES ASIA | 45Estina Ang 64
FOUNDER, EXECUTIVE
CHAIRMAN AND CEO
GHIM LI GROUP
SINGAPORE
Ang started her garment-making business in
the 1970s as a subcontractor with $3,000 and
six sewing machines. Today the global textile
and apparel supplier is one of the largest in Asia,
shipping about 60 million pieces annually, with
the bulk of its $156 million in 2017 revenue coming
from major North American retailers, including
Walmart and department store company Macy’s.
Recently Ang has focused on creating
a digitized supply chain from the firm’s
headquarters in Singapore. In December 2016
publicly listed arm GLG bought a fabric mill
in Malaysia for $20 million; last year it added
garment factories in Vietnam and Malaysia.
Three quarters of GLG’s 7,000 employees are
women, and the company has a female-led
board and management team that includes
daughter Felicia Gan.
Lorraine
Belo-Cincochan 39
CEO AND PRESIDENT
WILCON DEPOT
PHILIPPINES
Since taking her home-improvement and
building-products retailer public in March 2017,
Belo-Cincochan has led the family business on its
most aggressive expansion yet. Wilcon—which
includes Wilcon Depot big-box stores and Wilcon
Home Essentials shops—has opened 7 more
outlets, boosting its total nationwide to 43.
Belo-Cincochan, who became CEO in 2016,
joined the team in 2000, working as trainee to
then president William Belo, her father, who
started Wilcon with one tiny shop in Quezon
City in 1977. “Life for me has been work, from
the very beginning,” she says. (William Belo is
now chairman.) She has computerized Wilcon’s
manual systems and guided its stores from
traditional to big-box format. Wilcon posted an
11% gain in revenue for 2017. Since its IPO the
stock has more than doubled.
Dang Minh
Phuong 47
FOUNDER AND CHAIRMAN
MINH PHUONG LOGISTICS
VIETNAM
Dang is a scrappy player in Vietnam’s underdeveloped but fast-growing logistics market. She has built
MP Logistics into a company with more than 1,000 vehicles providing forwarding and logistics services,
mostly to Japanese companies, as well as air and ocean freight, warehousing and project cargo. Last
year she entered into a joint venture with Samsung SDS, a unit of the South Korean giant, to provide
services to the conglomerate’s businesses in Vietnam, where half of all Samsung smartphones are
made.
She also inked a deal with U.S.-based Enterprise Rent-A-Car, the world’s largest car-rental
company, to become its first franchise in Asia, providing long-term rentals for employees of
multinational companies, starting this year. Eventually it will expand to short-term rentals. It’s not
her first foray into passenger transport: MP Logistics also owns 67% of Saigon Air Taxi, which is
being restructured to become a car-rental service as it faces increasing competition from ride-
sharing platforms Grab and Uber.
Dang founded MP Logistics in 1995 with about $10,000 as foreign direct investment flooded into
Vietnam after its Doi Moi economic policies opened up the market. Asked about her success, she says,
“My father told me: ‘It’s not a big deal if you lose your assets. But if you lose your credibility, you lose
everything.’ ” Dang says she’s looking for investors.