Business

Friday September 18, 2009

Forbes forum to discuss direction of economy

By YAP LENG KUEN


It will also focus on wealth management and social responsibility

KUALA LUMPUR: This year’s Forbes Global CEO Conference, to be held for the first time in Malaysia, focuses on the three major themes of economic recovery, wealth management and social responsibility.

Over 400 CEOs, thought leaders and tycoons worldwide are expected to converge here for a three-day conference starting Sept 28, to take stock of the future direction of business and markets, following the global crisis that had threatened global prosperity and forced a series of unprecedented measures, especially from governments.

“With markets bouncing back, there will probably be a big debate on whether it will be a V-shaped recovery, or are we in the middle of a W?’’ said William Adamopoulos, president and publisher of Forbes Asia.

Forbes Asia president William Adamopoulus and Forbes Asia programming director Cecilia Zecha

“From the confirmed speakers, we expect to hear five different opinions on where the economy is headed,’’ he told StarBiz yesterday.

Key questions will touch on whether government rescues will restore order to the financial system and whether the kind of policies adopted by governments are working.

Following a “big picture” view from the economists, there will be a panel session on strategies on asset allocation.

The transformation in the financial landscape, which is seeing more regulatory oversight, is expected to change the nature of investing and risk management.

Among the well-known speakers is Ken Fischer, chairman and CEO of Fisher Investments, a US$30bil money management firm.

“We have held this conference for three years in Singapore. In the first two years, there was a lot of exuberance with focus on growth and opportunities,’’ Adamopoulos said.

At last year’s conference, many CEOs were talking of the looming dark clouds.

“We made the call 10 months earlier that doing business in 2008 would be like playing poker,’’ he said.

A week after the conference, Lehman Brothers fell.

The Malaysian speakers are Prime Minister Datuk Seri Najib Tun Razak, Deputy Prime Minister Tan Sri Muhyiddin Yassin, former prime minister Tun Mahathir Mohamad, Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz and YTL Corp Bhd managing director Tan Sri Francis Yeoh.

Assessments of political changes, especially in the United States, will be a highlight this year while CEOs will also express their concerns on whether companies should plough back their resources or continue to tighten their belts.

In the session on Changing Your Game: The Making Of The Fittest, real life experiences from CEOs who have adapted to changes are likely to be featured. A prominent speaker is John Anderson, president and CEO of Levi Strauss & Co, which had embarked on a series of relaunches.

Technology companies such as Rakuten Inc, whose CEO Hiroshi Mikitani is one of the younger billionaire entrepreneurs in Japan, will lead a discussion on their role in the global recovery.

In the property sector, Shui On group chairman and CEO, Vincent Lo, well known for the redevelopment of downtown Shanghai or Xintiandi, will speak on whether there is a real estate resurgence.

In the discussion on luxury and big spenders, space tourism and Richard Garriot, chairman of Space Adventures Inc, will likely be in the spotlight.

A near-billionaire, Garriot “visited’’ outer space last year, and liked it so much that he became chairman of the company.

At the Forbes conference last year, Anousheh Ansari grabbed the spotlight as the world’s first female private space explorer, paying US$20mil for the trip to sub-orbital space the year before.

BOKKS, a name in luxury leather gift boxes which was launched in London and has singer Elton John as a director, is expected to be introduced here by its creative director David Michaels.

Meanwhile, the economic downturn had not caused companies to withdraw from corporate responsibility, said Cecilia Zecha, programming director of Forbes Asia.

“Many are moving into ethical goods and rebranding in line with socially responsible practices,’’ she said.

In the clean water space is Water.org, a non-profit organisation that empowers people in the developing world to gain access to clean water and sanitation.

Its executive director Gary White will talk about the company in which actor Matt Damon is a partner.

This year’s Malcolm S. Forbes Lifetime Achievement Award goes to S. Robson Walton, chairman of Walmart Stores Inc.

The son of Walmart founder, Sam Walton, Robson, together with his CEOs, has grown the company’s revenue from US$67bil to US$400bil over 17 years.

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