Organizer: Sponsors: IBM . The New York Times . Verizon 2004 Outstanding Con Edison . McGraw-Hill . Fleet bank . Time Warner Colgate-Palmolive . BDO Siedman 50 Asian Americans in Planning Committee Chairman* and Members: Business Awards *Savio S. Chan, President & CEO, US China Partners, Inc. Mahesh Krishnamurti, Former Publisher/CFO, Worth Media James Y. Wohn, Senior Vice President, Fleet Bank June Jee, Director of Manhattan Community Affairs, Verizon Communications Walter Shay, Manager, Strategic Partnership, Con Edison John Kyriakides, Partner, BDO Seidman Jennifer Pauley, Assistant Director, Community Affairs, The New York Times V.M. Gandhi, President, New York Gold Company Thomas Chin, President, Accolade Technologies, LLC Govind Srivastava, CEO, Knowledge Resources, Inc. Message from the Event Chairman The Third Annual Outstanding 50 Asian Americans in Business Award Dinner provides a unique opportunity to pay tribute to those Asian American Entrepreneurs and professionals who demonstrate a commitment to making a difference in our community. Each year the Asian American Business Development Center takes this opportunity to honor outstanding, dedicated and well-deserving leaders in the New York tri-states areas. For 2004, some of the New York‘s best-known and well-respected executives are being recognized for their contributions. This year’s Pinnacle Award will be presented to Mr. Ted Teng, President and COO of Wyndham International. Mr. Teng has a distinguished career and is one of the SAVIO CHAN highest-ranking Asian executives from a publicly-traded company in the United Event Chairman States. He is recognized for his support and advocacy for the Asian community and has given his valuable time back to the community by serving on the various boards in many not-for-profit organizations. It is through the culmination of numerous hours of collaboration among all our Planning Committee members and other volunteers that this special evening is possible. I would like to take this opportunity to thank the entire Event Planning Committee, Board of Directors, volunteers and sponsors for supporting this meaningful event. We would also want to thank the honorees’ clients, friends and family for their generous contributions. Through the purchase of journal ads, gala tickets and sponsorships, the business, civic, economic and government communities have once again risen to the occasion to make the third annual Outstanding 50 Asian Americans in Business Award Dinner a huge success! Your support and generosity are greatly appreciated. With gratitude, Savio S. Chan Event Chairman Dear Friends: It would have been 10 years in July since the Asian American Business Development Center was established with a grant from the U.S. Small Business Administration. In these 10 years, AABDC has tried to live up to its mission of “assist Asian American businesses to increase their capacities to compete in the mainstream marketplace and to promote greater recognition of Asian American businesses’ contributions to the general economy.” From the honorees of the third Outstanding 50 Asian Americans in Business award, I am proud to report to you that Asian American entrepreneurs and corporate executives are becoming an important part of the American mainstream. JOHN WANG President Along the way, AABDC has strengthened its relationship with public and private Asian American Business sector partners to enable Asian American businesses better access to information, Development Center resources and business opportunities. It has broadened the alliance with the New Majority community beyond domestic concerns and onto a new level of international cooperation and business development. And as a key part of AABDC's business development strategy, the expansion of international business opportunities for Asian American business owners has become a major focus. On the eve of celebrating the impressive accomplishments of these individuals, I thank you for your steadfast support of AABDC and welcome your continued participation in growing the Asian American business community. Sincerely yours, John Wang President. City Coucilmen John Liu and Alan Gerson pres- ents Lunar New Year Proclamation to John Wang and Cindy Hsu The Asian American Business Development Center, Inc. (“AABDC”) is a 501(c)(3) non-profit organization that was established in 1994. AABDC’s mission is to advance the capacity of Asian-owned businesses in areas needed to enable such busi- nesses to compete in the mainstream marketplace. AABDC acts upon its mission by: Providing information and technical assistance through consulting services, workshops, seminars, and conferences; Improving access to procurement opportunities; Creating international trade opportunities; Increasing access to current technology and technology training; Providing a valuable networking structure that promotes visibility and access; and Facilitating and promoting strategic ventures between Asian and non-Asian busi- nesses. Children performing at the Lunar New Year Festival In 2003, AABDC continued its effort to assist small businesses in Chinatown in obtaining grants and loans from the New York Business Recovery and Economic Revitalization Program. Working with the Empire State Development Corporation, AABDC has helped 731 businesses that have been adversely affected by the attack on the World Trade Center. In all, over $3.1 million in grants money have been awarded to 347 businesses. The combination of loans and grants help many small businesses to maintain sufficient cash flow and the introduction of tourism development program by AABDC bring much needed business activity to Chinatown. In addition, technical assistance through workshops and one-on-one counseling assist and train local businesses in mar- keting, promotion and business development to prepare them for tourism business. John Wang presents the first edition of the New York Chinatown Travel Guide In January 2003, the Asian American Business Development Center released the first ever Chinatown Travel Guide, a 120-page four-color pocket size directory of New York Chinatown. The directory featured articles about Chinatown, a map with major sightseeing attraction, over 1,000 business listings, arts and cultural organizations and interesting tidbits about the history and cultural of Chinatown. With an initial printing of 20,000 copies, it became one of the most highly sought after items and received raved reviewed from various quarters. Because of the heavy demand for the travel guide, AABDC launched the second edition of the New York Chinatown Travel Guide in July as part of a continuing effort to promote tourism. The travel guide was distributed via city’s tourist centers in mid- town, lower Manhattan and Grand Center Station and at the selected hotels through- out the city. As compliment to the travel guide, an interactive online Chinatown Information Center website, www. Chinatownsearch.com, was launched to provides an electronic version of the travel guide and regularly updated listings of community events. The second edition of New York Chinatown Travel Guide and the launch of www.chinatown- search.com website During SARS crisis, Senator Clinton at AABDC’s invitation came to Chinatown to offer sup- port AABDC SARS Survey- How Chinatown has been affected by the SARS outbreak. In April, 2003, a survey conducted by AABDC, has shown that 84% of businesses have been affected by the nation’s fear of SARS. Chinatown’s restaurants and gift shops, the major sources of economic activity, continue to suffer as fewer tourists and lesser consumer spending exacerbate losses these small businesses incurred fol- lowing the attacks. Jewelry stores that used to compete with the Diamond District on 47th STREET have not been able to attract enough customers to sustain sales even after cutting their prices. Senator Hillary Clinton visits Chinatown In light on the reports of a significant slump in business and tourism in the wake of the September 11th Attacks and scares about SARS, Senator Hillary Clinton joined AABDC and Chinatown leaders at a press conference to call on local, state, federal governments, to reverse the community’s serious economic downturn by providing adequate funding to help the community’s economic recovery. In the words of Senate\or Clinton, “ That is why I am calling on the Small Business Administration (SBA), the Federal Emergency Management Agency (FEMA) and the Lower Manhattan Development Corporation (LDC) to provide the resources necessary to support the area which con- tinues to suffer from a serious economic downturn. I would encourage the government, business, locals and tourists alike to show their support for the community that has suffered so much already.” John Wang and the delegation present award to Director Chan of Overseas Chinese Affair Office in Beijing Outstanding 50 Delegation In September, at the invitation of the Overseas Chinese Affairs Office of the State Council, AABDC organized Outstanding 50 Delegation visited China. This visit has created more opportunities for delegation members and entrepreneurs in China as well as paved the way for greater trade and business development between China and the United States. The New Majority Trade Mission At the invitation of the Chinese People’s Institute of Foreign Affairs, AABDC organized The New Majority Trade Mission to China in November. The mission was conceived in a discussion with Ambassador Qiu Sheng Yun to broaden the level of understanding to leaders of the New Majority communities