Event Highlights
- Family Business Corporate Governance Roundtable Discussion at the Financial Club
- Conversations with Families at Taylor's University College
- Conversations with Families at the Islamic Arts Museum
- FBNPA Regional Summit: Family Values - A Pathway to Sustainability
- Master Class - Planning for Long Lasting Family Businesses
- FBNPA Research Roundtable
Family Business Corporate Governance Roundtable Discussion at the Financial Club
31 March 2010
Despite the heavy traffic during rush hour in Jakarta, an enthusiastic group of about 15 family business leaders gathered at the Financial Club for the FBNPA-AON Roundtable Discussion on Family Business Corporate Governance facilitated by Dr Gregg Li of Aon Global Risk Consulting (AGRC) who is based in Hong Kong.
Mrs Shanti Poesposoetjipto, Board Member of FBNPA & Chairman/CEO of PT Samudera Indonesia Tbk opened the session with some insightful and thought-provoking remarks. Using the umbrella as a metaphor for the family and the spokes of the umbrella as the values which hold up the family, Dr Gregg Li then led a lively discussion to help participants identify the early warning signals for family businesses. If the values (or spokes of the umbrella) are weak or eroded, the family and the family business might eventually also suffer the same fate as a crumpled umbrella with broken spokes. Therefore, correctly identifying problems is often the first step towards effective problem solving.
The brisk discussion threw up over twenty possible issues which were considered key to families and family businesses. These were then narrowed down to eight which the group considered most salient. They were succession, integrity, transparency, communication, family conflicts, agency problem, entrepreneurial spirit/innovation & 'djitu' (which stands for 'disiplin' or 'discipline', 'juju' or 'honesty', 'iman' or 'faith', 'tekun' or 'perseverance' and 'urut' or endurance/continuity.
During lunch, another 35 people or so joined the group for more casual chats. The group of about 50 then continued with the afternoon workshop session where the presentation and discussion focused on Enterpreneurial Risk Management. Dr Li pointed out a pertinent issue which was that of having the same language and same sensibilities when it came to recognising risks within the family business. The delegates had interesting questions and stories to share with the rest of the audience. We hope that they took away lots of useful and insightful lessons and thoughts from the two sessions.
– By Lena St-George Sweet
Conversations with Families at Taylor's University College
11 March 2010
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Mrs Lin Law was kind enough to arrange for the Law Family bus to take us to Taylor's University College where Dato' Loy Teik Ngan was hosting ‘Conversations with Families’ for FBNPA Members and their special guests.
Guests enjoyed the view from the lakeside campus as they socialised and nibbled on hors d'oeuvres brought around by students from the hospitality programme. In the spirit of the college, the attendees then adjourned to a lecture hall where Johnben Loy, Dato' Loy Teik Ngan’s brother and a family therapist, conducted an interactive workshop on improving family relationships. Maria, Johnben’s wife, was even roped in to participate in the role play. Judging by the number of questions and observations raised, it was clearly a topic that was relevant to many members of the audience and it became one of the main topics of conversation at dinner.
Dinner was a delicious three course meal featuring potato soup, baked fish with salsa and a gorgeous cheesecake adorned with strawberries. Near the end of the meal, Dato' Loy announced that the food had been made by student chefs under the supervision of their teacher and our members applauded all the students who had made our evening so memorable. The members were then invited on a tour of the kitchen and many admiring comments could be heard about the spacious environment and the quality of the tools. Some members even expressed a wish to try out the cooking implements.
At the end of the night, board member Yong Yoon Li presented both Johnben and Dato’ Loy gifts handcrafted by landmine victims in Cambodia. These were sourced from Gift and Take, a social enterprise that works with the disadvantaged and marginalised in the region to make original and socially responsible artworks and mementos.
Once again the FBNPA executive team would like to thank the Loy, Law and Yong families for their warm hospitality and a wonderful trip to Kuala Lumpur.
– By Vanessa Huang
Conversations with Families at the Islamic Arts Museum
22 January 2010
We left Singapore on this rainy Friday morning for the sunny island of Malaysia. Our Air Asia flight was a little delayed into Kuala Lumpur LCC Terminal but a cool Mr. Law Cheok Chin took it in his stride as he met us and brought us to the Islamic Arts Museum in his comfortable car. Along the way, we took in the sights of palm oil plantations, the Kuala Lumpur Twin Towers and the tallest flag pole in the world bearing the Malaysian flag. At the museum, we were awed by the architecture of the building, especially the inverted dome in the centre hall. A total of about 50 guests showed up for the lunch which was held in the museum cafe.
Before lunch, Mr. Olivier de Richoufftz spoke about emotional ownership and the critical pathway between the next generation and the family firm. I must say his talk was indeed insightful and left us all feeling overwhelmed with emotions as could be seen by the number of questions our members threw at him. We then presented Olivier with a photo frame personally handcrafted by landmine victims from Cambodia, and welcomed our newest member, Mr. Steven Kwek from Widegrowth Marine, Sabah. Our gracious host, Mrs. Lin Law, was also presented with a token of appreciation.
Thereafter, we proceeded with lunch which was a Lebanese buffet spread prepared by an Egyptian chef. Mrs Law shared with us that he used to cook for the King. Members savour the freshly baked Lebanese bread and chick pea spread, salad, saffron rice, eggplants, fish, and lamb. To compliment the food we had a choice of alcohol free halal hibiscus wine and a ginger lemon wine. This was also the time in which members mingled. While some shared about their new business strategies, others preferred a social networking session to catch up and make new friends. At the end of lunch, it was great to see many satisfied members.
We were then privileged to be invited onto the Law Family bus where discussions and conversations between Olivier, Caroline, Johnben Loy and Gin Kye continued. As they discussed serious stuff, my friend Zhen and I, duties over got to relax in the specially furnished bus that even had a karaoke lounge as we headed back to the airport.
Thanks once again to Mrs Law and her lovely family for their hospitality and a delightful albeit brief visit to Kuala Lumpur.
– By Lee Su Anne
FBNPA Regional Summit: Family Values - A Pathway to Sustainability
18 - 20 November 2009
It was a meeting of hearts and minds as 145 delegates from 14 countries across 5 continents came together to share stories and learn from each other at the FBNPA Regional Summit 2009.
The delegates were touched by the candid sharing and the heartfelt stories not only by the 31 speakers and moderators but also by fellow delegates who spoke during the Q&A sessions. Many teary eyed delegates were seen at the two sessions on ‘Enhancing the Family Legacy through the Family Business Council’ and ‘Fostering Women’s Entrepreneurial Leadership’.
One delegate had this to say about the summit – ‘On behalf of my family members, I would like to congratulate you all for a job well done in organising a very successful regional summit. We have all enjoyed the conference. It was beneficial in many areas: we have gained insight and clarity in some areas of our concern. There were also some new ideas which challenge our current thinking. This summit could be a turning point for us in those issues.’
By all accounts, the formal part of the summit was very well received. But as with so many conferences, it was the ‘open spaces’ between the more formal sessions that really provided the platforms for engagement, discussion and sharing.
The dinner hosted by FBNPA president Frederick Chavalit Tsao was indeed the ideal and relaxed setting for delegates to get to know each other better. Before the start of dinner, delegates were invited to take part in a simple yet most meaningful Thai ritual - the ‘Loy Krathong’ ceremony. Delegates were invited to pen their wishes and put them in the ‘krathong’ and float it in the swimming pool.
A number of delegates stayed on at the end of the summit for the ‘Fishy’ Family Business tour. They were whisked off to Qian Hu fish farm/fish spa on the outskirts of the city centre. From the keen attention paid to the talk, the many questions asked about the struggles and success of this family business, and the constant giggles and laughter during the fish spa when the fish were nibbling at their feet, it was evident that the delegates enjoyed themselves tremendously at this event.
We look forward to seeing all our delegates at our future events.
– By Lena St-George Sweet
Post Summit Website »
Master Class - Planning for Long Lasting Family Businesses
17 - 25 August 2009
Our first FBNPA roadshow took us across four cities in two weeks this past August: Singapore, Jakarta, Manila and Hong Kong. Led by the ever charismatic and adventurous Profesor Randy Carlock, the program included a dinner hosted by a member family followed by a 1-day introductory workshop on family business management.
The dinners always proved to be a great way to start in each city; nothing like food and good company to get people talking. And it really was this sharing of experiences that I took away as the most valuable knowledge I gained during the trip. Young, old, mothers, fathers, sons, in-laws etc. there was something to learn from everyone that came out. The fact of the matter is, regardless of cultural, racial or geographical boundaries, families are a universally human construct and while the emotional complexities that we face with each of our own families may feel 'oh-so-private', we forget that they are also a largely shared experience.
What makes family businesses unique is the fact that we juggle two larger collective entities / identities, two "families" to think about: the immediate family and the business family. And the two concepts are often founded upon very different mindsets - the private family being innately emotional and value-based and the business family traditionally defined by rationality and strategic thinking.
So how can we resolve these contradictions and find (for lack of a better word) harmony between these two communities? Communication is one key method and a process that Prof Carlock discussed during his workshop. By defining tools and methods for family and business planning, relationships, resolutions, he believes this conflicting duality can become a strengthening interdependence.
I absolutely agree - if we find a way to instill family based values, sense of intimacy, community and responsibility into traditional notions of business, we can only imagine what it will do for the way organizations think, behave, and sustain themselves.
– By Sonia Tsao
FBNPA Research Roundtable
05 June 2009
[Singapore] Family Business Network Pacific Asia (FBNPA) organised a Research Roundtable on family businesses on 5 June 2009. In attendance were academics, researchers and FBNPA representatives. The objective of the roundtable, held at IMC's Suntec Tower Five premises, was two-fold: (1) Share with the group leading research on Family Business undertaken by International and local scholars; (2) Brainstorm with the group on new research that could be undertaken in the Family Business space to advance the positive role of Family Business in Asia, their impact on communities and their potential to lead and model responsible, sustainable and socially innovative practices.
Dr Mary Ann Tsao, Director of FBNPA, welcomed all participants. Ms Caroline Seow, Executive Director of FBNPA, gave an overview of FBN, elaborated on the specific focus of FBNPA and touched on the upcoming programs and initiatives. This was followed by presentations from 5 researchers who shared their insights and work on family businesses from various perspectives.
Mr Fock Siew Tong from Nanyang Business School of NTU shared about the challenges and success factors in completing inter-generational transitions in family businesses beyond the third generation in Asia. Ms Marleen Dieleman from the NUS Business School highlighted the comparative corporate biographies of family firms in Southeast Asia in times of institutional change while Ms Jayati Bhattacharya from ISEAS spoke about comparative studies for Indian and Chinese Family Business Networks. NUS Professor Henry Yeung then analysed the globalization of Chinese family firms. This was followed by Mr Lee Kam Hing from the Asian Centre for Media Studies of Malaysia who touched on the the Chinese diaspora in Malaysian.
All participants then engaged in a lively discussion about FBNPA's research focus and direction in the near future, facilitated by FBNPA Research Director Mr Chung Chee Kit. They covered topics such as the key issues facing family business, the gaps in family business research in Asia and the potential role of family business in Asia etc. during the discussion.