Channel NewsAsia Business Tonight
15 June 2011
Synopsis of television interview with Spireâ€™s Chief Executive Officer, Leon Perera
Online PR News – 15-July-2012 – Asia – Channel NewsAsia: "The listing gong in Singapore and other regional market could be chiming to the tune of more listings from family businesses. According to DBS, family businesses have seen stronger cash flows and juicier balance sheets. And as businesses grow, many are looking at alternative forms of funding.
As Asian economies continue to boom, DBS says that so will family businesses. As such, the bank is expanding its wealth management offerings in this segment. DBS has said that it plans to grow its wealth management assets from S$43 to S$62 billion in the next three years. And family business could be a key component of that. Analysts said that while the sector does provide opportunities for those in the financing sector to get into, they added that family businesses do need to find their niche to stay ahead.
Spire: The top performers in the family business category are going to be a very promising market for all kinds of goods and services, including financial services. But when you look at this segment you also have to pay attention to the kind of business they are involved in. Increasingly, family businesses are going to have to build their business around some kind of niche, be it a branding, product attribute or a technology niche â€“ essentially some kind of blue ocean space.
Channel NewsAsia: Spire Research and Consulting added that it could be difficult for family businesses to compete with multinationals when it comes to mainstream business unit costs."