The year 2020 will be remembered for the turbulence caused when a pandemic swept through the world, fundamentally changing people’s way of life, presenting unprecedented challenges to governments worldwide, and forcing businesses to reflect and adapt in order to survive. With this in mind, the Asia Business Council and the Tanoto Center for Asian Family Business and Entrepreneurship Studies at the Hong Kong University of Science and Technology (HKUST) embarked on a six-month research project to analyze how Asia Business Council member companies have responded to the pandemic in strategic, innovative, or impactful ways.

The eight companies that were selected employ over 360,000 people and have assets totaling over $680 billion. In terms of geographical distribution, the companies are from China, Hong Kong, Myanmar, Philippines, Singapore, South Korea, Taiwan, and Vietnam. The key industries the companies are engaged in include education, entertainment, financial services, information technology, investments, real estate, retail, telecommunications, and textile manufacturing. The case studies include:

Ayala Corp (Philippines)
Recommitting to a Broad Stakeholder Eco-system during the Pandemic

DatVietVAC Group Holdings (Vietnam)
Leveraging Entertainment as a Force for Good in Face of COVID-19 Challenges

Esquel Group (Hong Kong)
Launching a Sustainable Mask amidst a Public Health Crisis

Fubon Group (Taiwan)
Forming a Mobile Phone-based Information System to Prevent Community Outbreaks

Lenovo (China)
Championing Educational Technologies to Enable Virtual Learning Experiences Worldwide

Lotte Group (South Korea)
Embracing “Open Innovation” in E-Commerce for the Post Corona Era

Temasek (Singapore)
Tapping Investment Expertise and Diverse Networks to Help Fight the Virus

Yoma Group (Myanmar)
Accelerating Financial Inclusion in a Time of Social Distancing