Can family business survive in modern Singapore?

[kopiuncle]

(From left to right) Muthu's Curry director of marketing Veshali Visvanaath, her husband chief executive officer Visvanaath Ayyakkannu and director of operations Srinivasan Ayyakannu. The two brothers running Muthu's Curry, for example, keep the recipe for the famous fish-head curry a secret and prepare enough of the spice mix for their three restaurants for the time they are out of the country. -- PHOTO: AZIZ HUSSIN

From the famous Muthu's Curry to motor distribution company Tan Chong International, a new generation of leaders is helping to run the show at some of Singapore's famous family businesses.

Family firms make up 52 per cent of the 743 companies listed on the Singapore Exchange, says a study released by the Centre For Governance, Institutions & Organizations at the National University of Singapore Business School. A strong sense of ownership is one of the advantagess of family businesses, say experts.

The two brothers running Muthu's Curry, for example, keep the recipe for the famous fish-head curry a secret and prepare enough of the spice mix for their three restaurants for the time they are out of the country.

Putting into place systems is crucial for any family-run business to survive over many generations, says Singapore Management University associate professor of strategic management Tan Wee Liang, who is in his early 50s.

 

[kopiuncle]

so many family owned coffee shops all gone to big boys already.

those who grew and formed big groups - the standard and service of the good old days gone.

strictly and purely business....no more the friendly talkcock coffee shops of the old.....profit and more profit.....

all the old family members retired and some became millionaires after selling their businesses to the Big Boys....

 

[kopiuncle]

every family business seems to have a secret recipe for their successful business...true or not?

 

[kopiuncle]

GENEVA (AFP) - The 86-year-old founder of Swedish furniture giant Ikea revealed he has no plans to retire and rejected any idea of the company going public in an interview published in Switzerland.

"The company will never go to the market," Mr Ingvar Kamprad told the latest edition of Swiss business magazine Bilanz.

"We want to keep strict self-financing."

Named by Swiss media in June as Europe's richest man with an estimated fortune of US$37.5 billion (S$46 billion) including holdings in the family-owned foundation, Lake Geneva resident Kamprad also rubbished recent reports that he intended to step down.

 

[erection2015]

like bengawan solo's secret lapis recipe.

every family business seems to have a secret recipe for their successful business...true or not?

 

[chupacabra]

What's so secret about food recipe? Not as if they get their ingredients from NASA. All bullshit.

 

[The_Hypocrite]

Wat talking u? Familee biz is doing damn well man..Father, Son, brother and the Unholy Ho is reaping billions......does anyone knows if the grandchildren are in the biz as well?

 

[eErotica69]

UOB counted as family business or not?

 

[StinkiePeasants]

every family business seems to have a secret recipe for their successful business...true or not?

True. One of the secrets is cutting unnecessary costs like operating from their flats. Another secret is good customer service. Plenty of family owned online social escort agencies are making tons of money operating from their flats & providing good customer service.

 

[chonburifc]

Family biz got pros and cons. Pros is got trusted people to run the biz. Cons is the trust can also be abused.

 

[Narong Wongwan]

Wat talking u? Familee biz is doing damn well man..Father, Son, brother and the Unholy Ho is reaping billions......does anyone knows if the grandchildren are in the biz as well?

Right on! Singappre Inc is biggest familiee business.....many friends and relatives employed as well.

 

[kopiuncle]

like bengawan solo's secret lapis recipe.

selamat pagi bang ,you are right. still good, but not as good as before. perhaps mass produced now. now, stomach very weak. every time must run to toilet after taking one of the nice kueh kueh.

 

[kopiuncle]

anyone go makan the nasi padang in zion road? i was told the secret recipe is under lock and key ...and the secret recipe is kept in a safe....only satu orang knows the numbers to the safe.

i think the food is great,esp the rumpah - very nice. the sotong also very nice. the fried chicken also very nice. family's recipe...but it appears that one uncle is running the business?

 

[erection2015]

selamat pagi bang.....take a few more pieces of their lapis la....then can vie with AK for the 'Dumper of the year ' title....he also selalu go

berak :(

selamat pagi bang ,you are right. still good, but not as good as before. perhaps mass produced now. now, stomach very weak. every time must run to toilet after taking one of the nice kueh kueh.

 

[kopiuncle]

selamat pagi bang.....take a few more pieces of their lapis la....then can vie with AK for the 'Dumper of the year ' title....he also selalu go

berak :(

hahaha bang! saya takut banyat berak2 lah....terus lah...tidak toilet !!!...chepat lari...sangat takut!!!...doctor chakap ada colon cancer!

 

[The_Hypocrite]

U mean like the KFC n Coke recipe? stored in some vault,,,need 2 person access n the execs cant travel on the same plane?

anyone go makan the nasi padang in zion road? i was told the secret recipe is under lock and key ...and the secret recipe is kept in a safe....only satu orang knows the numbers to the safe.

i think the food is great,esp the rumpah - very nice. the sotong also very nice. the fried chicken also very nice. family's recipe...but it appears that one uncle is running the business?

 

[The_Hypocrite]

Right on! Singappre Inc is biggest familiee business.....many friends and relatives employed as well.

thanks for the comments bro,,,,

 

[zeddy]

FamiLEE business empire still goin strong after 4 decades!!!

 

[zeddy]

Wat talking u? Familee biz is doing damn well man..Father, Son, brother and the Unholy Ho is reaping billions......does anyone knows if the grandchildren are in the biz as well?

Agree fully.. That FamiLee business is No 1 in Spore..