Family Business Network (FBN) Asia’s Post

One of the best event of the year that family businesses look forward to. This year, we had a great representation from Asian families in beautiful Paris city. Looking forward to next year in Japan! #familybusiness #familygovernance

We are just under two weeks away from the highly anticipated Family Business Network (FBN) Asia Indonesia Forum 2024!    On October 17th and 18th, join us for an exciting two-day forum focused on Succession Strategy for Family Businesses in Jakarta.    This event is designed to empower family-owned enterprises with the essential tools and insights needed to navigate the complexities of succession planning.    We have an incredible lineup of speakers who will be sharing their expertise and experiences from their own renowned family businesses.    Our esteemed speaker panel features:  - Dato' Loy Teik Ngan (Executive Chairman at Taylor's Education Group)  - Shanti Poesposoetjipto (Chairman at PT. Samudera Indonesia)  - Salman Subakat (CEO of Nurhayati Subakat Entrepreneurship Institute)  - Dr. Johnben Loy, PhD, LMFT (Founder & Clinical Director of Rekindle Centre for Systemic Therapy)  - Marcel Irawan (Partner at PwC Indonesia)  - Alvin Yap (Principal Consultant, Group Managing Director of A.D. Financial Group)    📌 Don’t miss out—mark your calendars!    Be sure to register, and for more details, please visit: https://lnkd.in/gTWDHGsc     #FBNAsia #FamilyBusiness #SuccessionStrategy #Indonesia

Happy China National Day! 🇨🇳    On this significant occasion, Family Business Network (FBN) Asia honors the rich heritage and dynamic spirit of China.     Family businesses play a crucial role in the nation’s economic landscape, with a remarkable 75% still managed by the first generation. This commitment reflects the enduring dedication to tradition and entrepreneurship.    A notable aspect of these businesses is the emphasis on biological legacy, with 23% recognizing it as a vital component. This connection to family heritage fosters a strong sense of responsibility and continuity, essential for sustained success.    Additionally, China stands out for having the highest percentage of female CEOs in family businesses. This leadership diversity not only enhances decision-making but also drives innovation in a rapidly evolving market.    FBNA is grateful for the support from our members in China and their efforts to highlight the significance of family business in the country!    #FBNAsia #China #NationalDay #FamilyBusiness   *Statistics from KPMG    

Family legacy is a common topic of discussion among our Family Business Network (FBN) Asia community members. This can be a challenging issue in our diverse environment, especially as legacy organizations undergo restructuring, transition to new leadership, and seek sustainable ways to navigate economic uncertainty.    According to a recent report by Deloitte Private and Raffles Family Office, family offices in the APAC region expect growth in both their family wealth and assets under management (AUM), even amid geopolitical instability and uncertain market conditions.    🚩 About 20% of family offices consider their lack of preparedness a major risk this year.    🚩 Over 33% of family offices have identified succession planning as a top priority for 2024.    The region has experienced a rapid increase in wealth over the past few decades. However, as Dr. Rebecca Gooch, Deloitte Private’s Global Head of Insights, points out, APAC families face unique challenges due to their relatively limited experience with large-scale multi-generational wealth transfer    William Chow chief executive of Raffles Family Office, emphasizes that strategic portfolio diversification is key for APAC family offices. It helps them mitigate risk, enhance stability, and seize growth opportunities.    Read the full The Business Times article here: https://lnkd.in/gMBdzy2x     #FBNAsia #FamilyLegacy #FamilyBusiness #APAC #SuccessionPlanning 

We love seeing conversations about family business longevity and inspiring the next generation at FBN.    The recent interview featuring Tolaram's Sajen Aswani (Chief Executive) and Mohan Vaswani (Chairman) with Marleen Dieleman 马琳 for the Asian Legacies initiative at IMD will be a must-listen for all leaders managing family businesses.     Stay tuned for the full interview!    Picture Credit: Marleen Dieleman / IMD    #FBNAsia #IMD #Tolaram #Interview #FamilyBusiness  

Our next #FBNAsiaVoices story features Yi-Xian Ng.     Yi-Xian is the Group Chief Executive Officer of EtonHouse International Education Group.  In 1995, EtonHouse opened its first preschool on Broadrick Road in Singapore. Today, the group operates over 100 schools across 12 countries in Asia and the Middle East.  Due to unexpected health issue in family, Yi-Xian left a successful financial career in the U.S. to join the family business that his mother, Gim Choo Ng, the Founder and Chairwoman of EtonHouse established nearly 30 years ago.  Yi-Xian carries on the family legacy of EtonHouse, transforming it into a world-class education group that nurtures globally-minded students ready to succeed anywhere, while expanding its offerings from preschool to a comprehensive educational pathway through high school.     #FBNAsia #MeetOurMembers #Community #EtonHouse   

Exciting Opportunities for Impact Investors!  FBN International has partnered with CSP to bring you two outstanding programs designed to enhance your impact and investing strategies:    1️⃣ Impact Investing for the Next Generation  This prestigious program, founded at Harvard Kennedy School's Initiative for Responsible Investment, is tailored for wealth holders exploring sustainable and impact investing. Join a strong cohort committed to making a difference.    Module 1: October 15th-18th, 2024, University of Zurich, Switzerland  Module 2: April 29th-May 1st, 2025, MIT Sloan School of Management, USA    For more information, click here (https://lnkd.in/eD8-bxZ2)   2️⃣ Accelerate Your Impact: Tools to Leverage All Your Assets  In this program, participants will map their unique resources and create a coherent action plan to maximize impact across various forms of capital. The program consists of 2.5 days of intensive learning, access to renowned expert speakers, and nightly networking dinners.      Key Offerings:  - A practical framework for understanding and strategically applying various types of resources  - Innovative strategies to amplify your impact through collaborative impact approaches  - Connections with like-minded UHNWIs and impact experts  Actionable insights to elevate your philanthropy and impact investing    Date: October 23-25, 2024  Location: Boston    For more details click here (https://lnkd.in/eUqN9_3f) FBN Members, contact us at eteam@fbnasia.org to get your 20% discount code!    Unlock your potential and maximize your impact!    #ImpactInvesting #Sustainability #Philanthropy #Leadership #Networking #FBNI #CSP Center for Sustainable Finance and Private Wealth FBN-The Family Business Network

Family Day—We eagerly anticipate this day every year.   Each year, one of our members generously opens their home or facility to host Family Day, creating a wonderful opportunity for families across generations to come together and have some fun.     This year, we gathered at EtonHouse International Education Group preschool in Mountbatten.    What made this Family Day truly special was that it coincided with the Mid-Autumn Festival    The children had an amazing time learning how to make mooncakes, crafting lanterns, and listening to the enchanting folklore of Chang’e, the moon goddess. A heartfelt thank you to our wonderful hosts and Family Business Network (FBN) Asia members, the EtonHouse family, Gim Choo Ng and Yi-Xian Ng, for making this event memorable!    Happy Mid-Autumn Festival to everyone!     #FBNAsia #FamilyDay #Singapore #MidAutumnFestival 

"The future stewards of Asia Pacific’s family businesses must bridge the generational gap to leverage generative AI for business success."     PwC shared this in their Global NextGen Survey 2024 – Asia Pacific Highlights.     Our community members can attest to the increased conversations about embracing technology in family-owned businesses. In the Asia Pacific region, these enterprises are preparing to hand over the reins to a new generation of heirs during this technological renaissance.     The next generation is clearly convinced that integrating AI into their businesses can be a transformative game changer.     We’ve gathered some key insights from PwC's findings to share with you:  - More than 50% of family businesses in the region have yet to explore the use of GenAI. Only less than a tenth (8%) have adopted GenAI.  - 44% believe that AI’s greatest potential lies in the digital upskilling of their workers, more so than their global peers.  - 73% of Asia Pacific NextGen view GenAI as a powerful force for transformation, but many are skeptical about the ability of their family business to seize this opportunity.  - Only 55% of Asia Pacific NextGen believe there are clearly defined roles and responsibilities in their family enterprise, lower than the global average of 63%.   - Just 40% acknowledge the presence of a robust governance structure, whereas around half of family businesses globally already have such a framework in place.  - Slightly over a fifth (22%) of respondents have faith in the digital capabilities of their family business (vs almost a third globally).   - Only 9% of Asia Pacific family businesses having established protocols on the responsible use of emerging technologies like AI, this lack of clear governance could hinder the adoption of GenAI.    The NextGen in Asia Pacific has a distinct opportunity to shape the future of their family businesses. As digital natives, they naturally understand the powerful narrative surrounding GenAI. To harness the transformative potential of GenAI, here are ways NextGen can implement changes in these areas.    Full report here: https://lnkd.in/grYsvnAZ     #FBNAsia #FamilyBusiness #APAC #NextGenLeaders