KUALA LUMPUR (March 30): UOB Malaysia has launched The Business Circle in Malaysia, its initiative to help prepare the next generation leaders of Asia's family-led companies in running their businesses and fast track growth.

Members of The Business Circle get exclusive access to knowledge exchange, region-wide networking opportunities for potential collaborations and tailor-made financial support from the bank, UOB said in a statement Sunday.

Started in Singapore in 2019 and introduced in Thailand last year, The Business Circle now has a community of more than a thousand family-run businesses, comprising large corporates to small and medium enterprises across Asean, including Malaysia.

"Family businesses constitute over 60% of publicly listed companies and an even larger share of private companies in Asean, and play a pivotal role in driving Malaysia’s and the region’s continued economic growth.

"With the Business Circle, we aim to leverage UOB’s extensive regional footprint and expertise to provide Malaysia’s next-generation leaders of family-led firms with a platform for knowledge exchange and networking across borders and industries. This is to ensure that the younger generations have the right knowledge, capabilities and connections to bring their businesses to greater heights,” said UOB Malaysia chief executive officer Ng Wei Wei.

Many have expressed their appreciation for The Business Circle initiative as it gives next-generation leaders an exclusive opportunity to learn from successful business leaders, and to connect with local and regional peers who are on the same path as them, she said.

“Having worked with businesses across generations, we understand that every generation of leaders face different sets of challenges. Our clients who are heads or founders of family businesses want to ensure that their successors are equipped to drive growth and sustainability, navigate challenges while maintaining the legacy of the business," Ng said. 

In conjunction with the launch, the bank curated a two-day programme to enable peer learning, knowledge sharing and networking, with a focus on the current critical business drivers — sustainability, regional expansion and digitalisation.

A key highlight of the programme was the executive learning forum held on Wednesday, where the founder and chairman of Sunway group Tan Sri Sir Dr Jeffrey Cheah shared his experience in building a strong and sustainable business that thrives across generations. There was also a panel session featuring Yinson Holdings Bhd's group CEO CY Lim, ValueMax Group Ltd CEO Steven Yeah, and PlanetSpark Pte Ltd managing director Phuay Li Ying, who spoke about their growth strategies, the challenges they face and how they turn these challenges into opportunities.

That was followed by a launch dinner on the same night, graced by the Deputy Minister of Investment, Trade and Industry Liew Chin Tong.