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When some family businesses thrive and others don't

Robust family governance, clearly defined expectations and transparent communications will be vital to the continued success of a family business undergoing succession transition.
Wednesday, December 3, 2014 - 05:50
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Sunil Amarasuriya (second from right), chairman of BP de Silva with his children (from left) Shanya, Navin and Rehan.
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The writers (Choo Eng Chuan, left, and Goh Siow Hui) are, respectively, Asean Markets Leader and Tax and Private Client Service Partner, at EY in Singapore "We have been successful through a clear vision and a common set of values . . . We have been able to sustain a highly engaged organisation with an entrepreneurial culture, which is anchored in our vision of being a family-owned but professionally led group with a strong portfolio of businesses." - Mr Narain Girdhar Chanrai, group CEO of Kewalram Chanrai Group
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The writers (Choo Eng Chuan, left, and Goh Siow Hui) are, respectively, Asean Markets Leader and Tax and Private Client Service Partner, at EY in Singapore

THE most immediate two winners of the EY-Barclays Family Business Award of Excellence have something strikingly in common: both are legacies that span well over a century. B P De Silva Holdings Pte Ltd was founded in 1872 while the Kewalram Chanrai Group has been in business for more than 150