New Lions coach will be one we are proud of, vows FAS president Forrest Li
While Singapore football has been in the doldrums in recent times, the chief executive officer of technology conglomerate Sea hopes to rekindle interest among fans. And a big part of that goal could be achieved with the hiring of a successful national coach and a historic qualification for the Asian Cup, said Li.
On April 28, the Singaporean entrepreneur was elected president for a four-year term alongside a slate that included lawyer and former BG Tampines Rovers chairman Desmond Ong (deputy president) and four vice-presidents.
Top on his priority list is hiring a head coach to replace Japanese Tsutomu Ogura, who resigned on June 24. The Straits Times previously reported that over 60 candidates had expressed interest in the job, including the likes of Italian icon Fabio Cannavaro, former Liverpool winger Harry Kewell, former Tottenham Hotspur assistant coach Nick Montgomery, and ex-Thailand national team head coach Mano Polking.
Speaking to media at an engagement session at the Shangri-La Hotel on Aug 6, Li said: 'People do have very strong opinion of that (the head coach), but that's fine, and I think what will be the worst, and what I really want to avoid is that even when we make an announcement, nobody cares.
'I hope one day, when we announce the next national team coach, that will be the conversation in every dinner table at every house that evening in Singapore. That is the moment, where for all of us that love Singapore football... will be proud of.
'We have a lot of interest, but we also want to get the right people... and I'm personally committed to fly around the world. It's important to really know the person and we cannot just make a decision by his resume.'
Li, who reportedly has a net worth of US$8.6 billion (S$11.3 billion) and is third among Singapore's richest in Forbes' annual list of global billionaires, attended the Aug 6 session alongside FAS council members, Singapore Premier League club officials, FAS staff and key members of the Unleash the Roar! national football project.
Officials from the Asean Football Federation were also in attendance.
In a short presentation at the session, Ong revealed the FAS has received a total of 67 applications for the head coach role, with 16 candidates shortlisted and 10 selected for interviews. He also shared that some of the key criteria that the FAS is looking at includes a proficient level of English, and for the coach to have a history of managing teams challenging for or who have won titles, managing teams in major games or competitions, and an extended tenure in a club or federation.
In the interim, former BG Tampines head coach Gavin Lee will lead the Lions against India in back-to-back Asian Cup qualifiers in October. If the new coach is hired after that, he will likely lead the national side in an away Asian Cup qualifier against Hong Kong in November.
Singapore are top of their Asian Cup qualifying Group C on goals scored, ahead of Hong Kong (four points), Bangladesh and India, who have a point apiece, leaving them potentially four positive results away from a maiden qualification for the continental showpiece.
Only the group winners will advance to the 2027 Asian Cup in Saudi Arabia. Singapore have never qualified for the Asian Cup on merit, with their only appearance coming as hosts in 1984.
In a bid to boost team performance and morale ahead of the Cup matches, the FAS announced on Aug 6 that its new management team have introduced several financial incentives. These include tripling the bonus for match victories, and nearly doubling the daily local training allowance.
Li added: 'From a competition perspective, definitely the single most important one is the Asian cup... our goal is to win the group and qualify.
'I think that will be history making. If we have that achieved, I would love to invite everybody back here, and we should have a big celebration party.'
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CNA
10 minutes ago
- CNA
Forrest Li on Singapore football: ‘The moment nobody talks about it ... that's the end'
SINGAPORE: Having stepped up to the top post in local football, new Football Association of Singapore (FAS) president Forrest Li has much on his plate. Among his priorities are the preparations and operations for the national team, the competitiveness and appeal of the Singapore Premier League (SPL), youth development and infrastructure. But ultimately, Mr Li, who is the owner of Lion City Sailors, wants local football to be a talking point as well as a source of pride and joy once again. "For each individual, we have different expectations ... a different way to interpret success," said Mr Li. "If football can bring us and bring the whole society a bit more ... joy and pride - I would define that as success." Mr Li pointed out that in the past, there was a sense of national pride in Singapore football. "It's happened in history ... 20, 30 years ago, football was indeed the pride and joy for every Singaporean. We want to make that happen again," he added. He was speaking during the Football Association of Singapore's (FAS) media day at Shangri-la Singapore which marked his council's 100 days since taking office. Mr Li was elected FAS president in late April and succeeded Bernard Tan as the association's chief. He is more than aware of the task at hand. "We have the best city planning, the best airport, best highways. A lot of things are world-class - why not football?" said Mr Li. "I know it's a moonshot, it's a long journey. At this moment, we're not talking about world-class, we're really left behind ... but this is something (where) I see the gap. I want to contribute, I want to make (an) effort." While people have different views, what would be most worrying is that if Singaporeans are apathetic about local football, Mr Li said in his opening remarks. "People have very, very different views (on) what should be the right thing to do ... what would be worst is that nobody talks about it," he said. "When the customers still comment on a certain restaurant, that's a good thing for the restaurant. The moment nobody talks about it, nobody wants to go ... that's the end of the restaurant." Mr Li's hope is that with success on the field, more people will follow local football and that interest will grow. Singapore are currently 159th in the world rankings. "Eventually what I hope is people really care, and football becomes a part of people's daily life and it becomes part of a regular family dinner table topic, I think that will be a win for whoever cares about football," he said. SHOWING "PROGRESS" AND "PRODUCT" A Singapore citizen who was born in China, Mr Li is best known as the founder of the Sea Group – the technology giant behind retail platform Shopee and gaming platform Garena. Media company Forbes estimated Mr Li's wealth at about US$9.3 billion. In 2020, Sea acquired one of Singapore's most successful football clubs, Home United, and rebranded the team as the Lion City Sailors. The team has gone on to achieve myriad successes on the pitch with the company's financial backing. Most recently, the Sailors pulled off the domestic league and cup double in the 2024-2025 season and made history by becoming the first team from Singapore to reach the final of the Asian Football Confederation (AFC) Champions League Two – where they ultimately fell 2-1 to United Arab Emirates side Sharjah FC. But it was after the Singapore U-22 team's 0-7 hammering by Malaysia in the 2023 SEA Games that Mr Li first thought of running for the top post. "I know this matters a lot to a lot of people, to the public and people care about football. But that is exactly the reason why I decided to step up to take this job," he added. Mr Li added that he had been thinking about ways to contribute to Singapore. "I appreciate football. For my life, football brought me a lot of excitement, a lot of experiences. At the same time, I really have that same appreciation for Singapore - for my career, for my journey in business, Singapore gave me everything," he said. "I always think - what can I give back to Singapore society?" Mr Li said that he hoped to apply best practices from his corporate role and pointed out that there are similarities. "We are the underdog ... We are in that position where (we are) not the incumbent in the region for football," he added. Asked if he would be open to tapping his own resources, Mr Li said he was "open-minded". "Resources are very, very important ... I'm more open-minded. We have this mission and if money can help, we'll find a way to make that happen," he said. At the same time, he stressed that local football must meet a certain quality for investment to follow. "We need to show the progress and we need to show the product. And we need to show that football can really draw the attention, bring the happiness, bring the pride to society ... Money will follow the attention, money will follow the pride, and money will follow the joy," Mr Li said. He pointed out that at the global level, more money flows into sport. "Singapore football, because of the past several decades, the lack of investment and the lack of attention, we are not ready for that. What we are trying to do is that we need to improve our own quality first," added Mr Li. One of the first things Mr Li will need to tackle is the hiring of a new men's national team head coach. In June, FAS announced Tsutomu Ogura's resignation as head coach of the Singapore national team due to personal reasons. Ogura, who was appointed in February last year on a two-year contract, needed to return to Japan for "pressing personal matters", said the association. This leaves Singapore looking for its fourth national coach in six years, and FAS has appointed Gavin Lee, former head coach of BG Tampines Rovers FC, as the interim replacement. "It's not necessarily that the more expensive coach will be the better coach, or in our case the coach (with the better fit). In our selection criteria, we don't really put a cap and say we are only looking for coaches that cost us this much," said Mr Li. 'I hope one day, when we announce the next national team coach, that will be the conversation at every dinner table in every house that evening in Singapore." The recruitment process is still ongoing and FAS has received 67 proposals for the role. The association subsequently shortlisted 16 individuals with 10 selected for interviews so far. "It's important to really know the person. We cannot just make a decision by the resume," said Mr Li. "For the finalists, when we have the serious candidates we consider ... if I need, I will go wherever in the world to meet them and I will invite the candidate to come to Singapore to spend the day with a lot of our people ... to get to know each other." The short-term goal is for the men's national team to qualify for the Asian Cup, said Mr Li. And the FAS is committed to providing them the necessary resources to do so, he stressed. This includes a financial incentive structure where players' win bonuses have been tripled and local training allowances almost doubled, said FAS deputy president Desmond Ong in a presentation later in the evening. Singapore are currently top of their third-round qualifying group on goal difference, with four points after their first two matches. The Lions are ahead of Hong Kong on goals scored, with Bangladesh third and India bottom. Each of the six group leaders will qualify for the 2027 Asian Cup, and the Lions will return to competitive action with a double header against India in October. "We are leading the group and this is important. This matters a lot to me personally, to the council, and we take the national team's performance very seriously," said Mr Li. "We'll try everything we can do to try to qualify." Ultimately, taking Singapore football in the right direction needs the effort of an entire ecosystem, said Mr Li. "I believe I'm the right man. This is kind of the reason I decided to step up. I understand this is a huge commitment and that this is a long-term commitment. And I will try my best," he said.

Straits Times
40 minutes ago
- Straits Times
Singapore's Carro targets US IPO with over $3.8 billion valuation, sources say
Sign up now: Get ST's newsletters delivered to your inbox If successful, Carro's listing would be the largest South-east Asian IPO in the US since Shopee parent Sea's listing in 2017. SINGAPORE - Singapore-based Carro, South-east Asia's largest used-car online marketplace, is preparing for a US initial public offering (IPO) as early as 2026 that could raise up to US$500 million (S$642.6 million), according to sources familiar with the matter. The company is aiming for a valuation of more than US$3 billion (S$3.8 billion), according to the sources, who could not be named discussing confidential information. If successful, Carro's listing would be the largest South-east Asian IPO in the United States since Shopee parent Sea's 989.3 million listing in 2017 and the third biggest South-east Asian high-tech IPO in the US, according to LSEG. It would also be the first major automotive tech and artificial intelligence or AI-driven commerce start-up from Singapore to go public in the US. Carro is on track to deliver US$100 million in annual earnings before interest, taxes, depreciation, and amortisation by its fiscal year ending March 2026, one of the sources said. The IPO size is still under discussion and may change depending on market conditions, the sources added. Carro did not immediately respond to an email request seeking comment on Aug 6. Top stories Swipe. Select. Stay informed. Singapore Some ageing condos in Singapore struggle with failing infrastructure, inadequate sinking funds World Trump eyes 100% chips tariff, but 0% for US investors like Apple World White House says Trump open to meeting Russia's Putin and Ukraine's Zelensky Singapore MRT track issue causes 5-hour delay; Jeffrey Siow says 'we can and will do better' Singapore ST Explains: What is a track point fault and why does it cause lengthy train disruptions? Singapore ST and Uniqlo launch design contest for Singapore stories T-shirt collection Asia Malaysia plans barrierless toll system modelled after Singapore's ERP Singapore S'pore and Indonesia have discussed jointly developing military training facilities: Chan Chun Sing Founded in 2015, Carro operates a digital platform that enables consumers and dealers to buy and sell vehicles, while also offering insurance, financing and after-sales services. Besides Singapore, it has a presence in markets across the Asia-Pacific region including Malaysia, Indonesia, Thailand, Japan, Taiwan and Hong Kong, its websites show. With over 4,500 employees across Asia-Pacific, Carro has raised more than US$1 billion in debt and equity from investors including Temasek, SoftBank and several other sovereign funds, according to its websites. A successful listing could pave the way for other regional unicorns such as Carsome, Traveloka and Xendit to follow suit. Beyond South-east Asia, a growing number of Chinese companies are also eyeing US listings, drawn by the potential for higher valuations despite ongoing geopolitical tensions. REUTERS


CNA
2 hours ago
- CNA
Ctrl-Alt-Pivot? Why China's tech titans are powering up in Southeast Asia
SHANGHAI: At Singapore's Jewel Changi Airport, a smiling digital concierge powered by Tencent Cloud greets travellers, offering directions, dining tips and real-time shopping recommendations in five languages. Once the realm of science fiction, such smart services are increasingly becoming everyday realities across Southeast Asia - and China is positioning itself at the heart of this digital transformation. From cloud deployments in Jakarta to artificial intelligence (AI) models tailored for Thai users, China's tech titans - Alibaba, ByteDance, SenseTime, Tencent and others - are expanding their regional footprint with new scale and sophistication. Heightened US-China tensions, tighter export controls and volatile Western markets have spurred Chinese firms to look beyond the West. Analysts say Southeast Asia has emerged as a key focus, a view echoed by Chinese tech executives in interviews with CNA. 'It's very clear to me that the investment is real. The market opportunity they are envisioning is real,' Ray Wang, research director for semiconductors, supply chain and emerging tech at advisory firm The Futurum Group, told CNA. But rather than a short-term pivot, observers say the shift is the result of a long-cultivated strategy - a multi-billion-dollar digital courtship aimed at turning Southeast Asia into a cornerstone of China's next global tech chapter. TECH, TIE-UPS AND TRANSFORMATION While an overall headline figure is hard to pin down, Chinese tech firms have been pouring billions of dollars into the region. In February, TikTok - the ByteDance-owned social media platform facing a potential ban in the United States - pledged US$8.8 billion over the next five years to build data centres and digital infrastructure in Thailand. Alibaba Cloud is also scaling up, announcing in July its third data centre in Malaysia, with another due to open in the Philippines this October. This development is part of Alibaba's 380 billion yuan (US$53 billion) investment plan in AI and cloud infrastructure over the next three years, a sum the company has said exceeds its total spending in this area over the past decade. The launch of its AI Global Competency Center in Singapore last month further underscores its regional ambitions, with the facility aiming to support AI adoption for more than 5,000 companies and 100,000 developers worldwide. SenseTime has also deepened its engagement in Southeast Asia. Best known for its AI and computer vision software, the firm signed an agreement with the Indonesian government at the recent World AI Conference in Shanghai. The agreement centres on jointly developing homegrown AI models, smart city technologies and nurturing local AI talent. It builds on SenseTime's existing footprint in smart city and green technology solutions in Singapore and Malaysia. All these moves are backed by massive national-level investment. Chinese AI capital expenditure is on track to reach US$98 billion this year, up 48 per cent from the previous year, according to a report by Bank of America, driving home Beijing's ambition to lead globally in AI, cloud computing and smart infrastructure. On the ground, Chinese technologies are increasingly embedded in everyday life and business operations across Southeast Asia. In June, GoTo Group and Alibaba Cloud announced the successful migration of GoTo Financial's infrastructure to Alibaba Cloud's data centres in Jakarta. In the Philippines, media organisation ABS-CBN uses Alibaba Cloud services for content storage and archiving, while in Thailand, the company partners with telecoms provider TrueBusiness to support digital transformation for local enterprises. At Indonesia's Telkomsel, Tencent Cloud's AI-powered palm verification technology is used to confirm users' identities and enable secure payments. In Malaysia, mobile network provider YTL Communications leverages Tencent's digital ID tools to streamline mobile registrations and curb fraud. 'We have helped many Southeast Asian enterprises adopt a robust multi-cloud strategy that is best suited to their business and compliance needs,' Bluefin Zhao, vice president of Tencent Cloud and managing director for APAC, told CNA. 'Our clients scale their business growth and success together with us in an ongoing and long-term manner,' he added. Zhao noted that Tencent's presence is particularly strong in Indonesia, Malaysia, Singapore, and Thailand - priority markets where the company has made 'significant headway', achieving double-digit growth rates over the past three years. He linked this progress to Tencent's roots in consumer technology. 'We have decades of experience from running one of the world's largest digital ecosystem platforms, WeChat/Weixin, that serves over a billion users to the largest video gaming ecosystems in the world,' Zhao said. That expertise is now powering Tencent's next-generation AI push. Its large model technology, Hunyuan, has recently been integrated into more than 700 internal products across Tencent's ecosystem, spanning 30 industries from public services and healthcare to tourism and finance. Large model technology refers to AI systems trained on vast amounts of data to perform a wide range of complex tasks, such as understanding language, generating content and analysing patterns. Wu Yongjian, the head of Tencent Cloud AI product and technology R&D, told CNA that Hunyuan delivers strong performance without heavy computing requirements, making it a good fit for mid-sized businesses and fast-growing markets. QUICK SHIFT OR COMMITTED STRATEGY? Geopolitical tensions are among the factors prompting Chinese tech firms to look more closely at Southeast Asia, as business with the West grows increasingly fraught, analysts say. The US has ramped up export controls on advanced semiconductors, placed dozens of Chinese tech firms on its export control entity list and urged allies and partners to curb reliance on Chinese digital infrastructure. But observers say it's not the overriding reason. Instead, they point to business fundamentals - from booming digital demand to favourable demographics - as the main drivers behind China's deepening tech pivot to the region. '(It is) a medium to long-term strategy for (the Chinese companies) to drive more growth to places beyond China and the North American market,' said Wang from The Futurum Group. Wang said Southeast Asia is 'naturally' appealing to Chinese tech companies due to years of business familiarity, established relationships and geographic proximity. These factors lower barriers to expansion and make it simpler to deploy talent and run cross-border operations compared to more distant markets, he said. 'Culturally, it's just a lot easier for Chinese companies to figure out … geographically, it's also a lot closer for the companies to set up their headquarters (in the region) and send the employees there.' Jia Kai, an associate professor at Shanghai Jiao Tong University's School of International and Public Affairs, highlighted the diversity of Southeast Asia and the varying levels of AI maturity across its economies. 'The Southeast Asian market is important because if we want to realise the potential of AI, we still need many applications in different fields, in different cultures and environments,' he told CNA. 'The most important thing for AI is to find different environments … the digital infrastructure of Southeast Asia has already been well established.' Senior executives from major Chinese tech firms interviewed by CNA also emphasised that Southeast Asia is a core strategic focus, especially considering the growing regional demand for AI services in the region. Governments, businesses and consumers are rapidly adopting AI-powered services to drive growth, boost efficiency and enhance daily life - a shift fuelled by urbanisation, mobile-first consumer behaviour and national efforts to digitise economies. AI, including its generative form, is expected to contribute around US$120 billion to Southeast Asia's gross domestic product (GDP) by 2027, according to an April report by Boston Consulting Group. Global management consulting firm iMARC Group noted that the Southeast Asian cloud computing market reached US$208.8 billion last year, and is projected to grow at a 10.49 per cent compound annual growth rate to exceed US$512 billion by 2033. Wu, the head of Tencent Cloud AI product and technology R&D, said that the company 'absolutely sees' Southeast Asia as a key strategic region, both as a market and as a testbed for refining its offerings. Fellow Tencent Cloud executive Zhao added that the region's rapid digital transformation, driven by progressive enterprises and supportive national policies, has been a 'key catalyst' for the company's accelerated growth there. 'The region is incredibly diverse and dynamic, with markets and industry verticals at varying stages of digital maturity,' Zhao said, adding that this presents opportunities as businesses seek customised digital solutions. In the case of the digital concierge at Jewel Changi Airport, for instance, early results from the pilot that began in March show that travellers prefer this intuitive, hands-free mode of engagement over traditional directories. Jeff Shi, SenseTime's Asia Pacific president, described the Southeast Asia market as 'huge and characterised by a young population' compared to others such as Northeast Asia, where the market is smaller and dominated by major corporations such as Sony and Honda. 'We are seeing faster growth and investing more, with over half of our approximately 200 enterprise customers in Asia based in Southeast Asia. Singapore, in particular, acts as a showcase for the region,' Shi told CNA. Choong Hon Keat, Singapore country manager at Alibaba Cloud Intelligence, said that Alibaba Cloud likewise views Southeast Asia as a key market, driven by 'escalating demand from local customers'. He added that a skilled workforce is the 'cornerstone' of successful digital transformation. 'We are unwavering in our commitment to invest in the development of digital talent (in the region),' Choong told CNA. Across the region, Alibaba Cloud is forging academic alliances. In Singapore, it has partnered with Nanyang Technological University to establish the Alibaba-NTU Global e-Sustainability CorpLab, aimed at advancing green technologies and promoting sustainable living. Meanwhile in the Philippines, the company has forged a partnership with De La Salle University to train students in advanced AI and cloud computing technologies. BUILDING TRUST ALONGSIDE INFRASTRUCTURE Even as Chinese tech firms eye further inroads into Southeast Asia, analysts warn that obstacles lie in store. Many governments and major firms in Southeast Asia remain more familiar with and are often deeply integrated into Western technology ecosystems. A 2023 report by the Center for Strategic and International Studies noted that US cloud giants such as Amazon Web Services, Microsoft Auzure and Google Cloud maintain a dominant foothold in the region. At the same time, the report found that US cloud computing companies face rising competition from Chinese rivals. It did not provide specific market share figures. This legacy integration - especially in government, banking, and regulated industries - means that most national agencies and large enterprises deploy hybrid or multi-cloud strategies, layering Western and Chinese infrastructure to balance performance with security and regulatory compliance. Jia from Shanghai Jiao Tong University said that adapting to divergent AI regulatory frameworks across the region poses a major hurdle for Chinese tech firms. CNA previously reported on how a race for AI regulation is taking place to avert the risks of the technology while hopefully reaping the rewards, with action being taken at the global, regional and national levels, including in Southeast Asia. This regulatory patchwork means that building trust will be just as important as building infrastructure, observers say. 'At present, I think misunderstanding and mistrust are the most significant bottlenecks to future cooperation or for Chinese tech companies entering the Southeast Asian market,' Jia said. Some companies in the region may have reservations about adopting Chinese cloud services or AI, said Wang from The Futurum Group. These concerns often centre on data privacy, regulatory compliance, and potential geopolitical pressure, particularly as governments grow more sensitive to issues of digital sovereignty and foreign influence. The Chinese tech firms will also need to carefully balance their own operational standards with those of local partners, Wang said. This tension between national concerns and global cooperation is not lost on Beijing, which has increasingly framed AI as a shared endeavour rather than a zero-sum race. 'AI must move toward inclusivity and shared benefit. It should become a public good for the benefit of all humanity,' said Chinese Premier Li Qiang as he opened the World AI Conference in Shanghai on Jul 26. He said if the world instead pursues 'technological monopolies, imposes controls, and erects barriers, AI will inevitably become a game exclusive to a privileged few'. Open AI ecosystems encourage diversity and multi-party engagement, providing an 'equal playground' for all, rather than central dominance, noted Jia from Shanghai Jiao Tong University. He further suggested that the effectiveness of these collaborative models will help determine whether Southeast Asia becomes primarily a proving ground or a true shaper of the next generation of Chinese AI models. 'If it's a public good, there is no leader - only stakeholders,' Jia said, describing the future of AI as a shared, multilateral enterprise rather than a contest for supremacy. Executives at Chinese tech firms acknowledge these sensitivities, saying they are working to build trust by focusing on long-term partnerships, transparency, and shared success. Wu from Tencent Cloud said that its partners help tailor workflows, knowledge management and deployment to specific industries. 'Although our product is robust, each customer's needs vary,' he said. 'Once deployed, the IP and knowledge stay with the client, which helps build trust and long-term value.' Choong from Alibaba Cloud Intelligence said the company operates on openness and trust. He cited Qwen3 - its most advanced open-source AI coding model to date - as an example, noting that by making it publicly available, Alibaba Cloud aims to foster a 'global community of innovation'. 'We believe that openness can in return democratise AI development, drive more AI innovation across businesses and society at large, and ultimately, benefit consumers with new and exciting AI applications.' Shi from SenseTime said the company's 'consistent' strategy is centred on helping partners succeed. 'We know the challenges and we also know the rewards of early AI adoption, so we share those with our partners, and we do want to share with more partners in Southeast Asia,' he said. 'I think customers are very happy with the fact that we are trying very hard to meet international norms - not (being) just a Chinese-Chinese company, but a company that is trying really to be international.'