BANGKOK -- No company's stock market listing is as eagerly anticipated by Bangkok investors as Thai Summit Group, especially since it secured supply contracts with every major Chinese electric vehicle maker setting up shop in Thailand. The family-owned auto parts manufacturer considered going public a decade ago, but scrapped the plan when political turmoil made market conditions unfavorable.
Family-owned business groups in Southeast Asia, such as the Thai Summit Group, IOI Malaysia, Indonesia's Salim Group and companies owned by the Tans in the Philippines are adopting different strategies as they seek to preserve wealth while preparing to hand the reins to the next generation. (Illustration by Yoshiko Kawano)
ASEAN Money
Southeast Asian family firms lay ground for next generation's succession
Stakes rise for business groups seeking to preserve wealth as heirs multiply
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