Dr. Malina Ngai, Group CEO of AS Watson, has been recognized as one of Fortune’s Most Powerful Women in Asia 2025, securing the No. 6 spot and emerging as the only retail industry leader in the top 10. The announcement was made online earlier this month, with the formal award conferred during the Fortune Innovation Forum gala dinner in Kuala Lumpur last night.
At the forum, Ngai delivered a keynote titled The Science Behind a 185-Year Company, offering a rare look into the leadership philosophies guiding the world’s largest international health and beauty retailer. AS Watson operates over 17,000 stores across 31 markets globally. In Malaysia alone, Watsons leads the sector with more than 800 stores.
“Leading a company with 185 years of history is both an honour and a challenge,” she shared. “Heritage gives us credibility, but relevance keeps us alive. Tradition gives us roots, but innovation gives us wings.” Ngai emphasized the power of active listening—whether to customers, colleagues, or business partners—and the importance of making decisions that balance head and heart.
She also underscored how AS Watson’s culture acts as a living bridge between legacy and reinvention. “Culture is the bridge between past and future. We invest in talent and agility so our teams can adapt quickly without losing our DNA.”
Drawing from her years as a competitive athlete, Ngai likened leadership resilience to sports discipline. “You train for months for just a few minutes of performance. That focus, anticipation, perseverance, and the spirit of never easily giving up—that’s the essence of resilience,” she said. She highlighted how the same attributes now guide her approach to high-pressure decision-making, teamwork, and trust.
Ngai also discussed the company’s drive to merge “art and science” in modern retail, powered by data, AI, and human insight. “We are a technology-powered company with a human soul,” she remarked, emphasizing AS Watson’s ambition to deliver personalization at scale while preserving genuine customer relationships.
As AS Watson nears its 185th year, the company remains committed to continuous reinvention—blending heritage with innovation to stay relevant in a fast-changing retail landscape.
In the Philippines, Watsons operates more than 1,200 stores nationwide, strengthening its mission to deliver accessible health, wellness, and beauty solutions to Filipino communities. The Watsons app further elevates this experience with exclusive deals, personalized recommendations, and services such as Click & Collect and home delivery—making quality products more accessible than ever.