The end of an era?
Emmanuel Samarathisa | 19 Jul 2019 00:30
A company is built on its founder but what happens when it is time to pass on the mantle?
Consider some of the largest entrepreneurial driven stocks on Bursa Malaysia, such as banking group Public Bank Bhd. The group was founded by Tan Sri Teh Hong Piow and was fashioned in his likeness and crafted on his penchant for being conservative in his management and direction for the bank. Yet, it is a darling on Bursa as it never fails to reward shareholders with good results and handsome dividends.
But due to his age, Teh is now 89, talk of succession crops up from time to time. On April 28 last year, investors were pinning their hopes on Teh giving a clear direction as to who would succeed him but they were left disappointed as he did not answer questions on a potential successor.
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