ID :
213180
Fri, 10/28/2011 - 11:57
Auther :
Shortlink :
https://oananews.org//node/213180
The shortlink copeid
FAMILY BUSINESSES URGED TO TAP GROWING ASIAN MART
SINGAPORE, Oct 28 (Bernama) -- The rapid urbanisation and growing wealth in many Asian countries has boosted domestic demand and this has presented a new potential source of growth for family businesses to tap on.
Singapore's Deputy Prime Minister, Teo Chee Hean, said family businesses were important engines of growth in many countries.
"This is also the case in Asia according to a recent study of 10 Asian economies published by the Credit Suisse Emerging Market Research Institute.
"The study said family businesses accounted for half of the listed companies and a third of total market capitalisation in these economies," he said.
Teo, who is also Coordinating Minister for National Security and Home Affairs Minister, said this in his address at the 22nd Family Business Network International Summit here on Friday.
He said in terms of market performance, the same study found that family businesss outperformed their local benchmarks in seven of the ten Asian markets during 2000 to 2010, delivering compound annual growth rate of 13.7 per cent during this period.
Teo said the growth opportunities in Asia had spurred many companies to look for a home base in the region to deepen their understanding of the Asian consumer and test-bed new products and services for the region.
"Family businesses can leverage on Singapore’s location to serve as an Asian gateway.
"We offer an open and business-friendly environment, good connectivity, sound infrastructure, and a cosmopolitan talent pool that is Asia-ready and globally-attuned," he said.
He said Singapore could be a partner and an integral part of their
strategy to take advantage of this shift in global opportunities, whether their company was a global one entering the Asian market, or an Asian company serving the world.
Over 700 delegates representing multiple generations from over 300
family-owned companies from some 50 countries around the world participated in the three-day summit.
-- BERNAMA
Singapore's Deputy Prime Minister, Teo Chee Hean, said family businesses were important engines of growth in many countries.
"This is also the case in Asia according to a recent study of 10 Asian economies published by the Credit Suisse Emerging Market Research Institute.
"The study said family businesses accounted for half of the listed companies and a third of total market capitalisation in these economies," he said.
Teo, who is also Coordinating Minister for National Security and Home Affairs Minister, said this in his address at the 22nd Family Business Network International Summit here on Friday.
He said in terms of market performance, the same study found that family businesss outperformed their local benchmarks in seven of the ten Asian markets during 2000 to 2010, delivering compound annual growth rate of 13.7 per cent during this period.
Teo said the growth opportunities in Asia had spurred many companies to look for a home base in the region to deepen their understanding of the Asian consumer and test-bed new products and services for the region.
"Family businesses can leverage on Singapore’s location to serve as an Asian gateway.
"We offer an open and business-friendly environment, good connectivity, sound infrastructure, and a cosmopolitan talent pool that is Asia-ready and globally-attuned," he said.
He said Singapore could be a partner and an integral part of their
strategy to take advantage of this shift in global opportunities, whether their company was a global one entering the Asian market, or an Asian company serving the world.
Over 700 delegates representing multiple generations from over 300
family-owned companies from some 50 countries around the world participated in the three-day summit.
-- BERNAMA
