Filipina among Forbes Asia’s Power Businesswomen

·5 min read
Maria Grace Y. UY, Co-founder, President, Chief Resources Officer and Executive Director Converge ICT Solutions (PHOTO: Official website of Converge ICT Solutions)
Maria Grace Y. UY, Co-founder, President, Chief Resources Officer and Executive Director Converge ICT Solutions (PHOTO: Official website of Converge ICT Solutions)

PHILIPPINES — There's been absolutely no slowing down these stellar women in business in 2021 despite the curveballs thrown at them by the COVID-19 pandemic. 

At a time when survival of businesses has been a great challenge since the onset of the pandemic, Asia's most adaptive and zealous businesswomen have emerged unbeaten. 

Forbes ranked the best female forces in business across ages and across sectors – spanning manufacturing, health care and technology, banking and private equity, and retail – and arrived at 20 prominent leaders who command startups valued at more than US$100 million or are running businesses with outstanding revenues.

The list is dominated by businesswomen from Japan, Singapore and other Southeast Asian countries. But one notable name from Philippines stands tall on the Forbes 2021 Asia’s Power Businesswomen list.

What makes this year's list special is that all of them are new entrants amid cutthroat competition.

Meet Maria Grace Y. UY, the power business woman from Philippines

With only 20 spots on this esteemed list, it's noteworthy that one woman from Philippines has been named among Asia's most powerful.

Maria Grace Y. Uy co-founded Converge ICT Solutions with husband Dennis Anthony H. Uy in 2007 and currently serves as President, Chief Resources Officer and Executive Director of the company.

The company is committed to providing pure end-to-end fibre internet connection from their network facilities to Filipino homes ensuring that there is no loss in data transmission or slowdown in internet connectivity. 

As a certified accountant, prior to founding Converge, Maria Grace has served in several senior executive roles including IBM and Savers Mall Group of Companies in the Philippines.

She has been instrumental in helping grow Converge ICT into one of the largest fixed broadband operators in the Philippines. Under her leadership the company sealed a $250 million investment from Warburg Pincus and used it to expand its fibre network to cover 25 per cent of Filipino households. 

In 2020, Philippines witnessed one of the largest IPOs, when Converge ICT Solutions went public raising $522 million. Shares of the company have since risen over 70 per cent, pushing Converge’s market cap to P233 billion ($4.6 billion). 

The pandemic-driven demand led to a 84 per cent rise in the company's revenues and it has doubled its subscriber base to over 1 million since last year. Maria Grace has been the driving force behind this augmented growth.

powerwomen
(From left) Helen Wong, Judy Hsu, Ng Gim Choon, named on Asia's powerlist (PHOTO: StanChart, EtonHouse, OCBC websites)

Women from Japan, Singapore dominate the list

With only 20 spots on this esteemed list, it's noteworthy that three women from Japan and three from Singapore have been named Asia's most powerful.

Keiko Erikawa, 72, is the executive chairman of Koei Tecmo, a Japanese video game and anime company created in 2009. Erikawa debuts on this list for having reported 11 straight years of record net profits and for managing Koei Tecmo’s US$1.1 billion ($1.48 billion) in assets across Japan, Hong Kong and the US.

Eiko Hashiba, 43, from Japan, is the founder and CEO of VisasQ, a leading global expert network service. Hashiba reportedly owns more than US$240 million ($324 million) in shares of VisasQ, which has a US$471 million ($634 million) market capitalisation.

Takayo Kotani, 44 from Japan, is the president of robot manufacturer Yushin Precision Equipment. Ever since having taken over the reins of the firm from her mother, Takayo has grown the company successfully and posted about $170 million ($229) in revenue and an operating profit margin of nearly 14 per cent in the recent fiscal year despite the pandemic.

Veteran 58-year-old banker Judy HSU, CEO for consumer, private and business banking at Standard Chartered Bank is a prominent name from Singapore making an appearance on the list.

NG Gim Choo, 69, is the founder of Singapore-based International Education Group EtonHouse. Under her watch and leadership EtonHouse has grown to house 20,000 students across 130 campuses in 11 Asian countries.

Helen Wong, 60, is the Group CEO of Oversea-Chinese Banking Corp (OCBC) headquartered in Singapore, and the first woman to hold this position at the second-largest bank by market value.

Other prominent names from across Asia

Indian businesswomen aren't too far behind on this list, with two entrants.

Meena Ganesh, 58, is the cofounder and chairperson of Portea Medical, India. It is the largest home healthcare company by revenue. She said the pandemic highlighted the dire need for home health care.

45-year-old Farah Malik Bhanji is the managing director of Metro Brands, India’s fourth-largest footwear retailer by revenues. As the pandemic brought about many challenges, a prudent Bhanji was quick to ramp up online presence and sales.

The two entrants from Hong Kong are 61-year-old Teresa Ko - China chairman of Freshfields Bruckhaus Deringer, one of the largest and most prestigious international law firms in the world - and 51-year-old Janice Lee, the CEO of video streaming platform Viu. Under Lee's leadership, Viu has overtaken Netflix to become the second-largest streaming service by subscription in Asia.

South Korea's two entrants this year are Kim Seon-Hee the CEO of Maeil Dairies and Lee In-Kyung of MBK Partners.

From Indonesia, Marina Budiman, the cofounder and president commissioner of DCI, features on the list, along with Tessa Wijaya, the COO of Xendit.

Cao Xiaochun, 52, is the president of professional clinical research firm Hangzhou Tigermed Consulting. She is the sole name from China on this power list.

Winnie Lee, the cofounder and COO of Appier, from Taiwain, Maria Grace Y. UY, cofounder and president of Converge ICT Solutions, from the Philippines, Wallapa Traisorat, president and CEO of Asset World Corp, Thailand and Nadiah Wan, group CEO and executive director of TMC Life Sciences, also earned themselves a mention among Asia's most powerful women for this year.

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