UOB launches initiative to support family-led firms

Fifty entrepreneurs will be visiting China in November.

United Overseas Bank (UOB) launched an initiative offering masterclasses and workshops to help established business leaders sustain growth, according to a press release.

Called The Business Circle, it will discuss topics like business diversification, digitalisation and cross-border expansion. Qualified to join are the bank’s clients who are 40 years and younger and with businesses that have at least $20m in turnover.

The bank will also organise business missions overseas for members to explore opportunities and to connect with local business leaders for knowledge sharing and collaboration.

Fifty entrepreneurs from family-led firms are already set to visit Liangjiang New Area's Digital Economy Industrial Park and Hema, Alibaba's technology-driven supermarket for its first overseas trip in November

The established entrepreneurs are identified by UOB as those who have built international, medium-sized firms with a combined turnover of $4b.

As of 10 September, they have Andy Chaw from Style 360, Albert Phuay from Excelpoint Systems, Eric Soh from Samwoh Corporation, Frank Phuan from Sunseap Group, Jeremy Fong from Fong’s Engineering and Manufacturing, Lennon Tan from ADERA Global, Neo Tiam Boon from TA Corporation Ltd, Peter Lim from Moneymax Financial Services Ltd, Pek Lian Guan from Tiong Seng Holdings Limited, and Tang Weng Fei from Asiatech Energy.