Can family businesses survive beyond third generation?

NG TENG FONG

Far East Organization (FEO)

Business: Property

Age: 82 (died this year)

Net worth: US$8b ($11.2b)

Children (2 sons, 6 daughters): Elder son Robert Ng, 57, is chairman of Hong Kong property developer Sino Group and his son Daryl, 31, is executive director, while daughter Nikki is general manager.

Second son Philip Ng, 52, is the CEO of FEO, while daughter Dorothy Chan is its executive director.

WEE CHO YAW

United Overseas Bank (UOB)

Business: Banking

Age: 80

Net worth: US$3.1 billion ($4.4b)

Children (3 sons, 2 daughters): Eldest son Ee Cheong, 56, is the CEO of UOB. Wee Ee Chao, 53, is chairman of UOB-Kay Hian Holdings, while younger brother Ee Lim, 46, is president and CEO of Haw Par Corporation.

Daughter Wei Ling is executive director of Parkroyal Group.

KHOO TECK PUAT

Goodwood Group

Business: Banking & Hospitality

Age: 87 (died 2004)

Net worth: US$5.5b ($7.8b)

Children (4 sons, 11 daughters): Eldest daughter Mavis Khoo-Oei, 63, is chairman of the Goodwood Group of Hotels, while sister Elizabeth Khoo is executive director of Goodwood Park Hotel. Youngest son Eric Khoo, 45, is a critically acclaimed local filmmaker with four sons between 9 and 15 years old.

SHAW BROTHERS

Business: Cinema

Founders: Run Run Shaw, 102, & Run Me Shaw, 84, (died 1985)

Net worth: US$3.5 billion ($4.9b)

Children: Runme Shaw: 2 sons, 4 daughters Run Run Shaw: 2 sons, 2 daughters

Shaw Vee King, eldest son of Run Me, 66, is managing director of Shaw Organisation, while Run Run's son, Harold Shaw, 70, is a director there.

Shaw Vee Meng, 76, Run Run's son, is chairman of the Shaw Foundation.

The executive director of the Singapore Environment Council, Howard Shaw, is a third-generation descendant of the Shaw brothers.

This article was first published in The New Paper.

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