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Asia Pacific

Social impact “important” for most high net worth investors, study finds

June 23, 2015

The vast majority of high net worth investors consider social impact an important factor when choosing investments, but many are unsure who to turn to for advice on opportunities and execution, new research has revealed.

RBC and Capgemini’s World Wealth Report, which surveyed more than 5,000 individuals, also found that strong economic and equity market performance has created 920,000 new millionaires worldwide in 2014.

Gina Rinehart forced to pass control of trust to daughter

May 28, 2015

Australia’s wealthiest woman, Gina Rinehart, has been order by the supreme court to pass control of the family trust to her daughter, ending a four-year feud with two of her children, and loosening her grip on the family firm.

The second-gen to a iron ore mining empire, Hancock Prospecting, Rinehart changed the vesting date of the multi-billion dollar Hope Margaret Hancock Trust in 2011 to 2068, just days before it was due to pay out.

Australia’s Peter Scanlon opens his family office to outsider money

May 27, 2015

Australian entrepreneur Peter Scanlon, who made his wealth in the logistics and aviation industries, is opening up his family office to new families.

Australian entrepreneur Peter Scanlon, who made his wealth in the logistics and aviation industries, is opening up his family office to new families.

Scanlon, 70, told Australian business website BRW that the existing team will continue at the new company, which will be known as Hume Partners, and will target individuals or families with more than AUS$20 million of investible funds.

Paper pushers: A quick look at Hong Kong family business Samson Paper

May 27, 2015

Samson Paper, like many Asian family businesses, are not only driving the economic development of their countries, but are also shaping global production and consumption, and have recently expanded into sectors including aeronautics and marine services

Samson Paper in numbers
Founded: 1965
Generation: Second
Revenues: $660 million (2013)
Employees: 1,730

Mud sticks: reputation management for families in Asia

May 26, 2015

While a good reputation can bolster consumer loyalty and even increase sales, one slip up in the public eye can set a family name back generations. A new report by Campden Wealth and Credit Suisse looks at the increasing importance of reputation management in Asia

When Korea Air vice president Cho Hyun-ah delayed a flight on her family’s airline last year after becoming enraged by a flight attendant who served her nuts in a bag rather than on a plate, the public fallout was immediate. Twitter hashtags were created and newspaper editorials criticised her entitlement. Within a month the 40-year-old had resigned from all her positions within the family holding company Hanjin Group and is facing criminal charges, while her family’s airline is looking at a $2 million fine and possible flight bans.

New Zealand’s “most trusted” chocolate brand expands to Malaysia

June 19, 2014

Family-owned chocolate maker Whittaker’s has announced it is expanding into the Malaysian market allowing its New Zealand-made chocolates to be sold by major retailers.

Family-owned chocolate maker Whittaker’s has announced it is expanding into the Malaysian market allowing its New Zealand-made chocolates to be sold by major retailers.

The family business, founded in 1896, has previously only supplied its chocolate range to Malaysian duty free shops.

Fourth-gen Matt Whittaker, head of international markets, says flavours being introduced have not previously been available in the Malaysian market, such as such as peanut butter, macadamia nut and dark peppermint fondant.

Asia Pacific set to become world’s HNWI capital

October 2, 2013

Asia Pacific is set to topple North America from its throne as home to the most wealthy individuals next year, according to new research, with the region’s high net worth individual population growing at twice the rate of the rest of the world between 2007 and 2012.

When it comes to ultra-high net worth individuals, the Asia Pacific Wealth Report 2013, published by CapGemini and RBC Wealth Management, revealed the Asia-Pacific's population had increased 15% over the same period – compared to the global average of 10%.

Australia proves to be fertile ground for single family offices

July 17, 2013

Australia is ahead of the game when it comes to single family offices, according to new research, with the Asia-Pacific country boasting 250 out of the estimated 2,700 that exist globally.

Tables compiled by Eureka Report, an Australian investment website, reveal the country’s top 20 family offices are worth AU$103.9 billion (€73.2 billion), while the top 20 are worth AU$177.5 billion.