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华商精神
Chinese Entrepreneurial Spirit
Learning humbly from the ground up Pek Lian Guan, CEO of Tiong Seng Holdings Ltd, emphasises the importance of humility in the process of family business succession.
Q: The Chamber has put in much effort to support and engage younger and next-generation entrepreneurs. Why do you think this effort by the Chamber is important? How can the Chamber continue to engage the younger generation?
For a family business to grow, the family must always put the business first and do what is best for the business. Also, it is important to work hard at building strong familial bonds, so that you can tide across difficulties together.
Q: As a successor of your family business, could you share your thoughts and journey on succession? What do you think are important aspects or values of growing the family business?
Succession wasn’t on the agenda when I joined the family business, it was more of an obligation then! I joined the family business straight out of university on my father’s request. Later on when given the opportunity to run a part of the family’s business interests, I just tried to do the best that I could. Now that I think back, I think succession requires a couple of things. The younger
generation must be willing to learn and to be humble. I used to be out on the construction sites with my father, not speaking a word. I would listen to how my father gave instructions, how the employees received his instructions, and what sort of technical challenges they faced. That gave me a technical grounding on what the construction industry was about, and also the humility to recognise that the family name comes with responsibility. Also, passion for the family business is important. With passion, you will naturally work harder, which is what gains respect from the other employees and family members.
The Chamber has a number of initiatives that are targeted at providing the younger and next-generation of Singapore’s future business leaders with the opportunity to meet successful business owners and entrepreneurs. Furthermore, there is a youth network in place that provides a platform to build friendships and peer networks among the younger generation. These initiatives help to give the younger generation guidance and support as they continue to develop their careers and businesses. As the business world continues to change and as disruption becomes more commonplace, it will be more important than ever for the younger generation to tap on a wider network of contacts and knowledge to tackle the increasingly complex challenges ahead.