Forbes Asia Forum: The Next Tycoons
Family businesses are one of the most successful and enduring business models in the world. They are also a key driver of economic growth and employment, contributing significantly to global GDP. In recent years, disruptive technology has dramatically altered the business landscape. In an era characterized by big data, automation, robotics and AI, family-run companies must embrace digital disruption or risk extinction. How are family-run companies coping with this technological revolution? Next-generation business leaders are becoming more selective about their career options, including careers outside the family business. What considerations and challenges do they face? How best can family businesses raise, preserve and optimize capital? Should they go public, take a partner, stay closely held or even consider a sell-out? For family-run companies, it’s not just business but also personal. The 5th edition of Forbes Asia Forum: The Next Tycoons will bring together some of the brightest business leaders of the next generation to examine key opportunities and challenges relating to family businesses.
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Session I - A dialogue with Tharman Shanmugaratnam, Singapore's Deputy Prime Minister and Coordinating Minister for Economic and Social Policies
Moderator: Tim Ferguson, Editor, Forbes Asia
Session II - Family Business 4.0
Big data, automation, robotics, blockchain, the Internet of Things, AI and 4IR. All around us, technology is disrupting and transforming how industries and businesses operate. Companies now face unexpected challenges on a regular basis, brought about by technological innovation. For family businesses, technological advances have also spawned numerous startups that are challenging entrenched incumbents. Family companies must embrace digital transformation or risk extinction. How are family businesses coping with this technological revolution? What must they do to ensure that their business survives and thrives amid unprecedented digital disruption?
Session III - Breaking Free
Over generations, some family members will choose not to work for the family business. Talented next gens are becoming more selective about their career options. For some, the passion of their parents may not mirror their own. Forging a different career path and seeking work experience outside the family business, or taking a completely new direction, have become common options. What are the dynamics of these decisions within the family and the family business? How have these next gens come to grips with breaking free, and what are the pros and cons? This panel gathers a line-up of next gens who choose to pursue their calling.
Session IV - Optimizing Capital
Sometimes family businesses seek new capital to finance growth or capture opportunities. Yet how best to optimize this capital? The options are many to consider—among them an IPO, taking outside shareholders, issuing debt, taking loans, leveraging assets such as property holdings or doing a major merger or strategic partnership. While access to fresh funds is welcome, the path to obtain it may entail a major inflection point for the family business dynamics. The deal structure is a crucial factor, as well as trying to play out the ramifications, both short and long-term, on the family and its business. Our panel will weigh up the pros and cons, from the perspective of those who are considering, or may have already taken, steps to optimize capital.
Session V - Lessons from the Top
Some of the largest and most successful conglomerates in the world are family-run, having started from humble beginnings. While family businesses remain one of the most successful and enduring business models in the world, studies have shown that many of them struggle to last beyond three generations. Unique challenges arise when family and professional relationships overlap. Running a family business also comes with heavy responsibilities in personal, professional and business spheres. What’s it like having a business in the family? What are some of the best practices of running a sustainable family business? What key lessons can be passed on to the next generation? This panel gathers prominent family business leaders to discuss what drives family business success.
19:00 - 21:00
Moira ForbesExecutive Vice President, Forbes MediaPresident and Publisher, ForbesWomanUnited States
Chan Chun SingMinisterPrime Minister’s OfficeSingapore
Anthony TanGroup CEOGrabSingapore
Jeongdo HongPresident and CEO, JoongAng Ilbo and JMnetPresident and CEO, JTBCSouth Korea
Robin TanChairman/CEOBerjaya Corporation BerhadMalaysia
Beh Swan GinChairmanSingapore Economic Development BoardSingapore
Rose DamenCommercial Director, Amels, SeaXplorer and Yacht SupportNon-Executive Board Member, Damen Shipyards GroupNetherlands
Kishin RKChief Executive OfficerRB Capital GroupSingapore
Maverick ShihPresident, BYOC Smart ProductsAcer IncTaiwan
Divesh MakanChief Executive OfficerICONIQ CapitalUnited States
Chatri SityodtongChairman and CEOONE ChampionshipSingapore
Schwin ChiaravanontManaging Director, 2W GroupExecutive Director, Aura GroupThailand
Ananya BirlaMusician, Entrepreneur, Mental Health Campaigner, Chairperson and DirectorSvatantra Microfinance Pvt LtdIndia
Hui LimExecutive Director, Chief Information OfficerGentingMalaysia
Sabrina Ho Chiu YengDirector and CEOPoly Auction Macau LtdHong Kong
Ho Ren HuaChief Executive OfficerThai Wah GroupThailand
Jennifer LiuChairman and CEOThe Coffee AcademicsHong Kong
Eric FokVice PresidentFok Ying Tung GroupHong Kong
Shruti ShibulalDirector, Strategy & DevelopmentThe TamaraIndia
Goh Miah KiatChief Executive OfficerKarexMalaysia
Sid WahiManaging DirectorCMA Investment HoldingsSouth Africa
Rachel LauPartnerRHL VenturesMalaysia
Tim FergusonEditorForbes AsiaUnited States