Editor’s Note
Did you know that family businesses account for two-thirds of all businesses around the world, generating a GDP of 80-85 per cent? Even so, majority of family businesses fail to sustain beyond the second generation, with only a mere precious few making it to the fourth generation.
With our theme revolving around legacy, we speak to five second-generation business owners to find out how they are faring with their family businesses. Are they steering the company in the right direction and keeping up with the times? What did they learn from their parents and what is their mindset in running the business? Turn to page 158 and see how Natalie Cheng (Parkson Group), Melissa Sin
(SKB Shutters), Garvy Beh (BP Healthcare), Melissa Tan (Getha) and Jim Tan (T7 Global) are doing their part in keeping their businesses alive and relevant. They may be young, but foolish they are not, as they have proven that they have a good head for business.
We also delve into the family behind one of Malaysia’s well-known tea brands, Boh, which is celebrating its grand 90th anniversary! Not much is really known about them, therefore Malaysia Tatler travelled up to the chilly region of Cameron Highlands to speak with three generations of the family: Caroline Russell, her father Dato’ Tristan Russell and her daughter Natalie Alguel. They tell us of how they came by their family name, and we even learnt that green, oolong and black tea actually come from the same tea leaf ! Go to page 172 for the story.
Despite her packed schedule, Diana Nasimuddin spared a few hours for us to speak about the expectations associated with her family name, and the kind of legacy she wants to leave behind for her three children (page 66).
Even our publisher, Edipresse Group, has a rich history of its own. Owned by the Lamunière family, the company is now being led by the fourth generation, an ambitious pair of brothers who are facilitating the shift from being a traditional print publisher to a multimedia company. For us to move forward, our chairman and CEO Michel Lamunière has this to say: Constantly adapt, invest in creativity, find the best people and empower the next generation.