Vietnam Wealth Management Forum 2019 - Exclusive Insights - Kenneth Atkinson

Kenneth Atkinson of Grant Thornton

Sep 19, 2019

Jump to section:

1. How can you help wealthy business families in Vietnam to do strategic partnerships, M&A or exit their business?

Video transcript

1. How can you help wealthy business families in Vietnam to do strategic partnerships, M&A or exit their business?

There are more second-generation Vietnamese that don't necessarily want to take over the family business. So, the current first-generation owners are looking at how to exit or to bring capital, particularly foreign capital, into the business. But they've operated in a very traditional family structure, and therefore there's very little governance in the business. As I mentioned earlier, commingling of assets, in particular, is very common, and also operating with two or three sets of books - one guy told me the third set was for the wife, because he doesn't want to show any cash. Really, it’s about getting them into a shape where, if there is a investor or a buyer for the business, local or foreign, that when they start to do their due diligence, they're not turned off and walk away, just because of the lack of structure and governance in the business.

Latest Articles

Latest News