Soriano: Singapore’s Richest Siblings

Soriano: Singapore’s Richest Siblings

By: PROF. ENRIQUE M. SORIANO Rated amongst the best cities to live But first, let me briefly describe Singapore. Because of my coaching work (real estate and family business) in the Asean region, I have used Singapore as my hub for most family business sessions. Singapore is one of the world’s major commercial hubs, the fourth-largest financial center and one of the top two busiest container ports in the world, at least for the past ten years. Its globalized and diversified economy depends heavily on trade, especially manufacturing, which accounted for around 30 percent of Singapore’s GDP in 2013. Singapore places high in international rankings with regard to standard of living, education, healthcare, and economic competitiveness and it has one of the highest per capita income and one of the longest overall life expectancy in the world. The country is also one of nine countries in the world with top AAA rating from all credit rating agencies. The Philippines is several notches below, with a fairly credible BBB rating.   Robert and Philip Ng: when siblings unite Brothers Robert and Philip Ng are sons of real estate tycoon Ng Teng Fong and inherited their father’s real estate empire and continued to bring it to greater heights. Robert Ng is not only a property tycoon, but also a trained lawyer while Philip has a degree in city planning, as well as civil and geotechnical engineering. The Ng family today builds one in six houses in Singapore. They are known as the HDB (Housing Development Board) of condominiums. There are different routes to success, and although their wealth might not be...
Soriano: The Dangers Of Not Initiating Succession Planning Early

Soriano: The Dangers Of Not Initiating Succession Planning Early

By: PROF. ENRIQUE M. SORIANO ACCOUNTING for more than 96 percent of enterprises in the Asean, SMEs that are made up mostly of small family business firms are a significant engine of growth in the region. Although perceived as small, their combined contribution to the economy has a great impact. It is also a fact that most family businesses have a very short life span beyond their founder’s stage and that some 95 percent of family businesses do not survive the third generation of ownership. In the Philippines, most businesses are small and family-owned. Challenges for SMEs in the Philippines include a lack of research and development, inadequate access to technology, and financing. This article will focus on intellectual capital management as well as the lack of or inadequate knowledge perspective prevailing in small family businesses. In today’s Information Age economy, knowledge–-not natural resources, machinery, or financial capital–has become the most important factor in business activity. Intellectual capital is a result of empirical research Without being too academic, intellectual capital or IC is the combined value of its people (human capital), the value inherent in its relationships (relational capital), and everything that is left when the people go home (structural capital), of which intellectual property is but one sub-component. The term became widely used in academia in an attempt to account for the value of intangible assets on company’s balance sheets. A second branch that has survived in academia and was largely adopted in large corporations was focused on the recycling of knowledge via knowledge management. According to Karl-Erik Sveiby in his article “Intellectual Capital and Knowledge Management”, a...