UOB Malaysia has launched a new initiative called The Business Circle in the country, which is aimed at helping the next generation of leaders in Asia’s family-led companies to prepare to run and grow their businesses.

According to the bank, members of The Business Circle will enjoy exclusive services and perks, including access to knowledge exchange and network opportunities across the region for potential collaborations. Additionally, they can tap into customised financial support from the bank.

For context, UOB’s The Business Circle is not a Malaysia-exclusive initiative. It was first launched in Singapore back in 2019, and then subsequently introduced in Thailand last year before making its way to Malaysian shores. It currently has a community of more than one thousand family-run businesses, comprising of large corporates to small and medium enterprises (SMEs) across the ASEAN region.

Chief executive officer of UOB Malaysia, Ng Wei Wei explained that The Business Circle will play a crucial role because family businesses constitute over 60% of publicly listed companies and an even larger share of private companies in the ASEAN region. As such, they are vital in the effort to drive Malaysia’s and the region’s 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 Ng.

Ng further shared that many of the bank’s customers have been particularly appreciative of The Business Circle initiative thus far as it puts next generation leaders in contact with successful industry leaders and other local or regional peers. This forms a useful network of support for these individuals.

“Having worked with businesses across generations, we understand that every generation of leaders face different sets of challenges. Our clients who are head 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 commented.

(Source: The Star)

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• Ng Wei Wei
• UOB
• UOB Bank
• UOB Malaysia
• UOB The Business Circle