FOUR SEASONS HOTEL SINGAPORE
Group Chairman
Eu Yan Sang International Ltd
Executive Chairman
Taylor's Education Group
Chairman
IMC Pan Asia Alliance Group
Managing Director
Royal Selangor International
Executive Director
Family Business Network Asia &
Family Office Club
Family Business Network (FBN) Asia is a regional chapter of FBN International, a private, not-for-profit organisation representing family businesses in 65 countries across 5 continents. Based in Singapore, FBN Asia covers China, Hong Kong SAR, Taiwan, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam and Sri Lanka. Our vision is to create a vibrant community of family businesses that serves as a model of sustainability.
Visit our website for more details.
To be a model of sustainability, family businesses need to develop mastery in three domains – self, family and business. We aim to help our members discover, through shared learning, the purpose of servant leadership, the promise of harmonious families and the potential of every family leader to be responsible stewards of business.
FBN Asia serves its members in the areas of capacity building, networking and research.
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Copyright 2023 Family Business Network Asia Limited. All Rights Reserved.
FBN Asia reserves the right to change any of the terms, conditions or policies as required.
Richard Eu is the Group Chairman of Eu Yan Sang International Ltd (EYSI) since 1st of October 2017.
Prior to this appointment, he was the Group CEO of EYSI for 15 years, instrumental in transforming Eu Yan Sang into one of Asia’s largest TCM groups today.
Richard was named the Ernst & Young Entrepreneur of the Year 2011 (Singapore) and represented Singapore at the Ernst & Young World Entrepreneur of The Year 2012 award. He was also recognised as the CEO of the year by the Singapore Corporate Awards 2010 for SGX-listed companies with a market capitalisation of under S$300 million. In 2016, he was lauded as the Brand Leader of the Year by InfluentialBrands.
Richard sits on various boards, both in the private sector as well as non-profit organisations. Most recently, he was conferred the Public Service Medal (PBM) at the Singapore National Day Awards 2020 in recognition of his contribution as Chairman of Singapore University of Social Sciences.
Teik Ngan is the Executive Chairman of Taylor’s Education Group, a private education provider in Malaysia with a portfolio ranging from primary to tertiary education. The scion of the Loy family, Teik Ngan took over the leadership of Taylor’s Education Group (TEG) in 2003 and has created many firsts in the country since.
A believer of the fact that every child has an unalienable right to education and a potential for greatness, Teik Ngan has raised the bar in the education landscape in the last decade, growing, revamping and redefining education from its traditional perception. He is also a strong advocate in people development, believing that quality education can only be delivered with talented academics and professionals.
Chavalit Frederick Tsao is the Chairman of IMC Pan Asia Alliance Group and Permanent Honorary President of Family Business Network (FBN) Asia.
Frederick began his maritime career in 1977 after joining his family’s shipping business IMC Group, a four-generation family business which traces its roots in banking, transportation and trade to Shanghai. Under his stewardship, he restructured the traditional shipping company into a global enterprise with diverse business interests in more than 15 countries.
Recognising the importance of family businesses in the global economy, Frederick is a strong advocate of robust research in areas such as business transformation, social engagement, leadership cultivation and succession planning to enable family businesses to learn more from each other.
Frederick holds a Master of Science in Engineering (Industrial and Operations Engineering) and a Bachelor of Science degree in Engineering (Naval Architecture and Marine Engineering) from the University of Michigan.
Yong Yoon Li, 4th generation in the family business, is currently Managing Director of Royal Selangor International, the world’s most recognized pewter brand.
He ensures that Royal Selangor continues to design and produce beautiful and relevant products for today’s discerning consumers. Since its founding in 1885, Royal Selangor International Sdn. Bhd. has become synonymous with innovation and quality, and its products are sold in over 20 countries around the world.
His other experiences lie in the motorsports and automotive industry. After having worked as a design engineer in Formula One with Team Lotus International and Nissan Motorsports both in the UK, he returned to start up TVR Sports Malaysia Sdn. Bhd., a boutique sports car manufacturer.
After 10 years in the automotive industry, Yoon Li was invited to join the family business, Royal Selangor International Sdn Bhd, and today he is a steward of the business alongside his cousin Tien Yue.
He holds a Masters in Manufacturing Engineering School from the University of Birmingham, UK and an MBA from IMD, Lausanne Switzerland.
Vanessa started her career at one of the Big Four accounting firms. After 5 years, she moved into investment banking where she managed primary & secondary listings and later specialised in foreign mergers, acquisitions and private trade sales.
After 15 years in investment banking, Vanessa pivoted towards the healthcare sector when she was Chief Executive of the Singapore Hospice Council, working closely with medical professionals from the palliative care sector.
Prior to her current roles, Vanessa was Head of Stewardship (Office of Advancement) at the Singapore Management University (“SMU”). Also a broadcast journalist/presenter for nearly 2 years at Channel News Asia, Vanessa has moderated at various forums including those organized by SMU and the World Economic Forum.
Vanessa read Economics & Statistics at University College, London and has a Master of Science in Applied Economics from SMU. Outside of work, she is a marathon runner.
In this workshop, participants will be introduced to key concepts in family dynamics that undergird good and poor family functioning. Through a multi-perspective case study and role-play, participants will be introduced to an experience of a family in conflict, and how a family business facilitator would guide the family to have a productive conversation together.
[ Presentation + Panel Discussion ]
Part I. Presentation on UBS CIO Outlook – A Year of Inflections
Headwinds from inflation, central bank tightening, volatile markets, geopolitical tensions peppered 2022 and remain front and center. By most counts, 2023 will be a critical year of inflections as investors try to identify key turning points and successfully navigate the volatility. This session will highlight the key trends we think will shape the investment landscape going forward and our top investment ideas for both the year and the decade ahead.
Part II. Panel Discussion
As markets become more correlated than ever, what strategies are family offices employing to generate alpha? How do they protect their returns and manage investment risk? Where do they find new sources of return in this current investment environment? Are family offices making a real difference focusing on ESG?
Hear our speakers
Culture change is the toughest frontier to crack. The difficulty starts with even understanding how to think about culture, and what the levers for change would be. In this session, Elaine Yew of Egon Zehnder, an experienced practitioner in the field of organizational development, would offer an introduction to a framework for thinking about culture and how to stimulate culture change.
We would then hear the experience of a family business that has used this approach, followed by small group discussions to share experiences and ideas.
When most people think about family businesses, transformation and innovation are not likely the first things that come to mind. Doing things, in more or less the same way, as it has been done, by prior generations is probably how most people think about family enterprises.
However, for us family businesses, we know that continual transformation is vital for our businesses to thrive for generations. Yet, re-imagining the business, while continuing to embrace the family legacy, is never easy as all of us have heard stories regarding strong resistance against changes not just from within the family but also from long-standing employees as well.
Hear our speakers share how each of them either led or played significant roles in re-imagining each of their family enterprises. Hear their stories, both the wins as well as their challenges and how they successfully transformed their family businesses.
With the rapid growth in family offices setting up in Singapore and new regulatory changes introduced to raise professionalism and quality of family offices, family offices are entering a new era of rising expectations, with direct implications on how these offices are run. Adding to that, evolving developments like exchange of information, emergence of digital assets and BEPS 2.0 introduce greater complications for family offices to consider. How should family offices approach issues such as risk management as well as technology and talent management against such a background? Find out more in this session on steering your family office through such an ever-changing landscape.
Family ownership confers advantages on a business such as a long-term orientation, continuity in the manner the business is run, and stronger alignment of management and shareholder interests. Family-owned companies are also confronted with challenges which risk destroying shareholder value or even the business itself, particularly with succeeding generations. Corporate governance measures help mitigate against these risks and are often essential for sustained value creation and legacy preservation. This session will highlight the value of an effective Board and articulate best practices that family firms can adopt to institutionalise this core element of good corporate governance.
To be updated
Innovation is the key to sustained value creation. Bain & Co’s work with 1000s of companies across the world indicates that the ones that are consistently outperforming their peers and are generating value for their shareholders are the ones that continue to innovate – especially during times of uncertainty.
In this session, we will discuss what the common criteria are that these winners demonstrate, and to leave behind a set of indicators that you may use to track your organisations readiness to step into the period of uncertainty that is inevitable over the next 12-18 months.
As leaders and family members, we constantly aspire to be effective and strengthen relationships to create more harmony within our families and in our businesses. As we nurture our relationships, it is critical to be aware of a little-known problem called self-deception, that undermines our efforts. This problem is NOT external BUT internal. Understanding and neutralizing self-deception, can in a deep way, free us of the entanglements that complicate our personal and professional lives.
In this 90-minute session we will explore self-deception, how we get into it and what we can do about it.
Dialogue on the Role of Family Businesses in the Economy with Guest-of-Honour Mr Tharman Shanmugaratnam
(Senior Minister and Coordinating Minister for Social Policies, Government of Singapore)