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April 24, 2009

Asia’s biggest family businesses are counting their losses as a mix of poor investment choices, bad timing and a global economic malaise bite into the bottom line, reports Jane Moir

Some of Asia's biggest names are being toppled from global rich lists as cracks begin to appear in corporate coffers and family fortunes begin to dwindle. Falling stock markets, slowing economic growth and bad investment choices are taking their toll as the region's leading families are thrust into the spotlight.

One of the most salacious examples has been the ill fortunes of Larry Yung, the 66-year-old chairman of Hong Kong-listed conglomerate Citic Pacific. The company saw two-thirds of its market capitalisation wiped out in just two days of trading.

July 28, 2008

The ousted chairman of family-owned Sun Hung Kai Properties has hit back at family members by saying the real estate company should look outside the family for more suitable leaders

The ousted chairman of family-owned Sun Hung Kai Properties has hit back at family members by saying the real estate company should look outside the family for more suitable leaders.

Walter Kwok, who was replaced by his mother following a disagreement with his two younger brothers in May, said, "Rather than key positions in the company being taken by the family, we should be more inclined to have the most suitable person fulfil the key positions."

May 28, 2008

The ongoing feud between the Kwok family at Hong Kong’s biggest property developer, Sun Hung Kai Properties, has come to a head with Walter Kwok’s 79-year-old mother, Kwong Siu-hing, replacing him as chairman of the company.

The ongoing feud between the Kwok family at Hong Kong’s biggest property developer, Sun Hung Kai Properties, has come to a head with Walter Kwok’s 79-year-old mother, Kwong Siu-hing, replacing him as chairman of the company. Kwong is the wife of SHKP’s late founder and currently owns just over 41% of the company.

May 16, 2008

A behind-the-scenes feud between second-generation members of the Kwok family has burst into the open.

A behind-the-scenes feud between second-generation members of the Kwok family has burst into the open. The Hong Kong-based Kwoks, owners of Sun Hung Kai Properties, have been arguing over who should run the $45 billion company. At the centre of the dispute is a fierce power struggle between the three Kwok brothers – Walter, Thomas and Raymond.

March 1, 2008

Members and owners of family businesses are among the wealthiest people on the planet. Families in Business takes a look at the wealthiest top 10 and analyses how they came to be there

1. Carlos Slim Helú (pictured) is the head of Telmex, a Mexican telecommunications empire that he runs with his sons. He is the world's richest family business owner with a fortune, worth an estimated $60 billion, that surpasses even that of Bill Gates. Slim's father was a Lebanese immigrant who started a dry-goods store in 1911. Slim made his first fortune in 1990 when we bought Telmex from the Mexican government.

March 1, 2008

It can be difficult for the next generation to combine a founder’s values with the latest management thinking. Jane Moir interviews two families from Asia and the US, both involved in the food and beverage sector, who have successfully gone through a succession process

It can be difficult for the next generation to combine a founder's values with the latest management thinking. Jane Moir interviews two families from Asia and the US, both involved in the food and beverage sector, who have successfully gone through a succession process

January 18, 2008

Li Ka-shing, head of family-owned conglomerate Hutchison Whampoa, has topped a new list of the 40 wealthiest people in Hong Kong with an estimated fortune of $32 billion.

Li Ka-shing (pictured), head of family-owned conglomerate Hutchison Whampoa, has topped a new list of the 40 wealthiest people in Hong Kong with an estimated fortune of $32 billion. Li's wealth has soared from $22 billion last year due to rising property prices, which has lifted the development industry to new heights.

Many other families firms also feature in the list, which has been published by Forbes. Raymond, Thomas and Walter Kwok, the brothers who own development firm Sun Hung Kai Properties, came in second with $24 billion.

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