Dato’ Loy Teik Ngan - From Billionaire's Son to Losing it All and Starting Over [The Business of Family Podcast]www.businessoffamily.net
Dato’ Loy Teik Ngan is the eldest son of a well-known entrepreneur who built one of the largest business conglomerates in Malaysia. Dato Loy took over the rein of his family company upon his father’s demise.
Within a year, the sprawling business empire that took 35 years to build, collapsed under the weight of huge debts amidst the 1998 Asian financial crisis.
- Dato Loy informed the bank he was indebted to, that they could either push him into bankruptcy or loan him more money to rebuild and pay back the company debts.
- Dato’ shares his unique living arrangements, including a Family Compound of 4 family homes, a "Living Together Committee" and the process of planning their Annual Vacations.
- The concept of a "Personal Portfolio" in creating an education plan for the family
- Dato’ explains the concept of the "Deathwalk", an exercise involving walking into our death, looking back at our current age, and giving ourselves the advice we would.