Sea's Forrest Li credits Singapore in Businessman of the Year win

Singapore

THERE is a stereotype that business leaders come to Singapore only after they have made it big. But Forrest Li, head honcho of Internet giant Sea, emphasises that this is not his story.

The 43-year-old entrepreneur was named Businessman of the Year at the 35th Singapore Business Awards (SBA) on Tuesday, organised by The Business Times and logistics firm DHL Express Singapore.

"Singapore took me in when I was a nobody. I came here with barely any savings, and a hundred thousand dollars in student loan debt. My wife and I could only rent one bedroom in a three-room HDB flat in Braddell," he recalled in his acceptance speech at the SBA dinner on Tuesday.

"Despite this, the Singaporean community accepted me, for which I will always be grateful. Long before I had any success, they made me feel welcome."

Deputy Prime Minister Heng Swee Keat presented Mr Li the top accolade at the SBA dinner, held at the Singapore Press Holdings auditorium with safe-entry and safe-distancing measures.

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The awards recognised Mr Li - Sea's founder, chairman and chief executive - for his vision in building up a consumer Internet giant with a strong global presence. The New York-listed firm has three businesses: digital entertainment arm Garena, e-commerce platform Shopee and fintech unit SeaMoney.

"Business is a team sport, and I am lucky to have over 3,000 excellent teammates here in Singapore, and thousands more around the world. Tonight, this award belongs not to me but to all of us," Mr Li said, while crediting Singapore's Economic Development Board with introducing his firm to tech giant Tencent, a backer of Sea.

Mr Li also thanked his family, Sea co-founders Ye Gang and David Chen, and its customers.

The other award winners include Seah Kian Peng, group chief executive of NTUC Enterprise and FairPrice Group, who was named Outstanding Chief Executive Officer of the Year.(see Amendment note)

Mr Seah was lauded for his leadership and dedication towards assuring Singaporeans that daily essentials remain accessible and affordable during Covid-19, and for serving the community in a time of need.

In accepting the award, Mr Seah thanked his previous bosses, which included the late former president Ong Teng Cheong, as well as his colleagues and family.

"I think success is meaningless if you don't bring people and your team along. It is indeed a privilege to be able to lead, to serve and to make lives better for all," he said.

Jessica Tan Sin Yin, group co-chief executive of Ping An Insurance (Group) Company of China, was named Outstanding Overseas Executive of the Year.

Ms Tan rose to the top brass of the Chinese financial services giant, and oversees its continued development as a technology-powered firm.

"In truth, I am receiving this award on behalf of all our Ping An people who worked hard to serve the community. I would like to take this opportunity to thank my family for their love and support throughout my entire career," she said in a video message.

Semiconductor and electronics solutions provider AEM Holdings clinched The Enterprise Award for its ability to capitalise on emerging trends. The mainboard-listed firm has displayed a consistent track record in financial performance.

Loke Wai San, executive chairman of AEM, said: "The Enterprise Award is an endorsement for the path and journey that AEM has taken thus far. There's still a lot to do. The future, to us, is exciting."

Launched in 1985, the SBA has honoured entrepreneurs who have made their marks in their industries.

Wong Wei Kong, chairman of the SBA organising committee and BT editor, said: "The four winners of this year's Singapore Business Awards have all demonstrated amazing grit, persistence and flair in their respective businesses and SBA has recognised the efforts and contributions to each of their industries. Very heartfelt congratulations to these very well-deserved winners."

Christopher Ong, managing director of DHL Express Singapore added: "Leadership at its best is often forged in a crisis. All our winners this year showed exemplary fortitude and ingenuity in steering their businesses through unprecedented waters.

"Their remarkable stewardship allowed their businesses to continue to thrive even in such a challenging climate. Their success stories inspire us all."

Amendment note: An earlier version of the story referred to Mr Seah as chief executive officer of NTUC Enterprise and NTUC Fairprice Co-operative. He is group CEO of NTUC Enterprise and FairPrice Group.

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