Tough times highlight Li & Fung model: trading company's success is a beacon for family business in Asia
Article Abstract:
Family-owned Hong Kong trading firm Li & Fung Ltd. had to undergo a number of draconian changes to achieve an average annual rate of 26% in the growth of its net profits. Company executives William Fung and Victor Fung were initially reluctant to manage the company, but once on board, instituted a number of changes that diluted the hold of the family on the management of the company. Some of the changes the brothers instituted in the company include removing ill-qualified family members from the management and helping family members profit from the firm by giving them shares of the company. The brothers then went public with the company to ensure that the company would be motivated to bring in profits and hired a number of outsiders to manage the company, offering them competitive benefits that increased the profitability of the company.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Tan Chong International's listing may appeal to some
Article Abstract:
Tan Chong International's move to trade on the Hong Kong Stock Exchange is being supported by some analysts but many questions abound about the timing of the listing. The company owns real estate assets and operations in Singapore, where the car market remains relatively strong. This led some analysts to say that the company may appeal to some local investors who are interested in Singapore. However, contrarians exist who are doubting the wisdom of the listing's timing during the time when Hong Kong car sales are down. Tan Chong International listed on the stock exchange by way of introduction, which means that existing shareholders in Malaysian parent Tan Chong Motor Holdings will get about two billion stake in Tan Chong International.
Comment:
Its move to trade on Hong K Stock Exchange is being supported by some analysts but many questions the timing of the listing
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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