As Pak Loh Chiu Chow approaches its diamond jubilee next year, the question facing its four third-generation custodians is one that haunts every great legacy: how do you honour what was built without being imprisoned by it.
There is an adage, attributed to Scottish American industrialist and philanthropist Andrew Carnegie, that a family’s wealth seldom survives three generations. He dubs its “shirtsleeves to shirtsleeves,” describing the arc from founding vigour to inherited entropy. Family Business Magazine notes the proverb is grounded in uncomfortable data: only three per cent of family businesses reach the third generation at all. For Alexa, Jonathan, Melissa and Kyle Bui – the grandchildren of Chiu Chow restaurant Pak Loh Chiu Chow’s founder Pui Sai Hung – these are not idle statistics. They are the terms of their inheritance.
Read the entire feature here at PrestigeOnline.
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