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Succession Planning in Family- Promoted Companies

Succession Planning in Family- Promoted Companies

Jan 08 - 12. 2018
There is enough data, both empirical and anecdotal, to know that most family businesses do not really want to address the elephant in the room - “Who’s next?”.

The Shipping Tycoon Y.K. Pao and his Legacy

With a net worth of $13.4 billion, the Pao family started off in the shipping business with shipping tycoon Y.K Pao. He first established the Word Wide Shipping Company in the 50s with the purchase of a second-hand ship. Over 20 years, the company owned over 200 vessels. Y.K. Pao was knighted by Queen Elizabeth II, and was selected by readers of shipping magazine, Fairplay as “the most influential person in shipping in 120 years”. After his death in 1991, his four daughters and their husbands took over the r...

Ayala Corporation Being Managed by the Seventh Generation of Zobel Family

The Zobel family, owners of conglomerate Ayala Corp., stands 43rd on Forbes’ list of richest families in Asia, with a net worth of $6.13 billion this year. Filipino businessman Jaime Zobel de Ayala was the managing partner of Ayala Company, before it turned into a corporation. He then served as the managing partner and chairman until 2005. Jaime Zobel is a prominent business figure in the Philippines with a significant reputation towards philanthropy. What started off as a small Manilla distillery ...

Indian Origin Lohia Ranks among the Richest in Indonesia

Early in his teenage years, Sri Prakash Lohia immigrated to Indonesia with the hope to start his own business venture. Forty years later, he is on Forbes’ 2017 list of richest families in Asia. Although he prefers to keep a low profile, his net worth of $8.7 billion has put the spotlight on his expansive business enterprise – Indorama Corporation. In March 2017, Mr. Lohia was awarded with the ‘Business Personality of the Year Award’. Sri Prakash Lohia’s father split his enterprise between hi...

Henry Sy Steps Down as Chairman of SM Investments Corporation

With a real time net worth of $20.1 billion dollars, Henry Sy has stood out as the richest man in the Philippines for almost a decade. Presently residing in Manila, Philippines, this billionaire came from a humble beginning and started a small shoe business almost 60 years ago. His success has been unstoppable from then on with large scale expansions into department stores and SM Mall, which generated large revenues that evolved into his business today – SM Investments Corp. Today Henry Sy has an established r...

SPOTLIGHT ON FAMILY GOVERNANCE: ASIA

SPOTLIGHT ON FAMILY GOVERNANCE: ASIA

Nov 13 - 17. 2017
“There is a greater interest in having a more formalized family office structure throughout Asia,” according to Christian Stewart, Managing Director of Hong Kong-based Family Legacy Asia, a consulting firm that advises Asian families on family governance.

UHNWIs and their Family Offices Rise in Malaysia

As part of the global trend of rising numbers of Ultra High Net Worth Individuals (UHNWIs), Malaysia has witnessed a substantial rise as well. Knight Frank’s Wealth Report 2017 said, ‘The ultra-high-net-worth individuals (UHNWIs) in Malaysia recorded a 3% increase in 2016 compared to a 15% decline in 2015’. Kuala Lumpur, in the same report, was within the top 50 cities on the City Wealth Index 2017. This rise in number will naturally benefit the Asian economic landscape as the proximity allows for easy kno...

John and Patrick Collison – Self Made Billionaires Get Younger

We’re seeing more and more of this and we’re not complaining. John Collison at 26, stands at the world’s youngest self-made billionaire in 2017. Not too much older is his brother Patrick Collison and together these Irish-immigrant brothers have made it big and have done it quick. John and Patrick were both born and raised in rural Ireland, and immigrated to America with an immediate attraction to Silicon Valley. Unlike the 80s and 90s, it is not a rarity to see a billionaire that is below th...

Increased Profitability by Women in Family Businesses

Globally, women are increasing their footprint across every sector, with family businesses being no exception. ‘Women now make up 40 percent of new entrepreneurs in the United States — the highest percentage since 1996’, according to the 2016 Kauffman Index of Startup Activity as reported on CNBC. With the increasing opportunities of growth for women, this number has considerably increased in 2017. Women taking control of family business is not a new phenomenon, but in the last few years, family businesse...

What to Expect as Millennials Take Over

With the slow but sure departure of baby boomers from the workforce around the world, there is an increasing amount of space being created for Millennials. This term has been used to describe the generation that was born anywhere after 1982. Whether it’s the West or the East coast, Millennials everywhere have an increasing presence in the current and upcoming economic landscape, and they are bound to change it with their distinctive work style and ethics. This evolving character of the workforce...

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