Beyond Three Generations: The Ng Family – The Sons

Mar 10
4 min read

The sons and grandsons of the Ng Family who have solidified the success of the Far East Organisation

The second generation

As mentioned in our previous article, the Far East Organisation smoothly transitioned after Ng Teng Fong’s death to his two sons - Philip Ng, who became chairman and CEO of the Far East Organisation in Singapore, and Robert Ng, who took over control of the Sino Group in Hong Kong.

Structure helped to prevent conflict from occurring, but there were also softer considerations from Ng Teng Fong that helped to smooth the transition:

1. Long-term, dynastic thinking

The leadership transition to his sons did not occur overnight. In the 1990’s, Ng gradually stepped back to allow his sons to assume increasing responsibility and take charge of day to day activities, while he oversaw the strategic direction of the property empire.

This phased handover achieved two things:

It allowed the next generation to build credibility internally and externally; and
It signalled clearly to employees, partners and financiers who would lead in the future.

Succession in family enterprises is not just drafting a will to lay out your wishes. It’s about defining responsibilities, setting up the right structures, and aligning expectations within the family to prevent a crisis.

In addition, Ng’s upbringing helped guide how he would leave a legacy for his children. As is common with family businesses, there was a focus on purchasing and holding income-generating assets rather than quickly reselling them for gain – the key being able to build something that would last for the family in the long term. Profits were reinvested back into the company, and the free cash flow generated from initial developments compounded into further property developments, territorial expansion, and new industries that could subsequently bring more free cash flow to reinvest.

2. Passing on key family values

Though it has not been publicly confirmed, the smooth nature of FEO’s succession implies a high degree of internal alignment or governance. Often, this can look like a family constitution to enforce a governance system for key family decisions. Ng had seven children, and each of them had children themselves. From our experience working in family enterprises, informal understandings rarely work, and conflict is often inevitable. Durable dynasties rely on structured governance – whether that’s a formal family constitution, shareholders agreements, trusts, or clearly defined holding structures. Though this may seem overly formal for a family relationship, the clarity allows for discussions on expectations to occur with everyone present, so there are no misunderstandings.

Lastly, ensuring that the family was able to sit in prominent positions within the company, but only after they had served in the company before that, implies strong succession planning within the family. These positions were not just about elevating them into positions they were not ready for, but also to groom them to take over and legitimately take their roles within the organisation and the family.

The third generation

With these foundations set in place by Ng Teng Fong, it is not surprising to see that the family still sits in prominent positions within the company – even down to the third generation.

In Singapore, Jonathan Ng, the son of Philip Ng, currently serves as the CEO of Far East Organisation (after 9 years in the company), while his brother Edward Ng is the deputy chairman of Yeo Hiap Seng, and holds directorships in other subsidiaries of FEO.

In Hong Kong, Darryl Ng, the son of Robert Ng, started as a project manager in FEO, rose to become an executive director, took over chairmanship of Yeo Hiap Seng and is currently serving as the Chairman of the Sino group (succeeding his father who held the same role). His siblings hold various roles within the Sino Group, including Deputy CEO (brother, David) and Director of Philanthropy (sister, Nikki).

The pattern is clear – rather than inheriting titles immediately, there has been a clear path for the third generation to slowly build their expertise within their respective groups before assuming higher office. The values from previous generations are being passed on, even with the increasing complexity of the company, shareholders and public scrutiny.

It will be interesting to see in the coming decades whether these institutional structures can help to overcome 富不过三代 – but for now, the Ng family stands as a rare example of a dynasty that has been able to manage the transition across three generations smoothly.

So, what should I do?

You don’t need to have a billion-dollar empire to apply these lessons; Ng Teng Fong came from humble beginnings but had a sharp enough mind to understand that responsible stewardship and succession would help to prevent conflict within the family.

Think about legacy: your assets make up your fortune, but so do your experiences, values and skills. How can you set up your family not only financially, but mentally as well, to carry forward what you have built?

Think about structure: there are myriad ways to separate your assets that makes it clear who gets what when you are gone and avoids conflict over your legacy. What could be set up today to ensure that there can be a smooth handover for your family?

Think about succession: it’s not just a will, it’s conscious decision-making and alignment within the family about roles, responsibilities, and expectations. How can you start these conversations early, so that there’s no misunderstandings later on?

If you want help answering these questions, get in touch with us at Pebly – we have experience in navigating these important considerations for family businesses, and have a wealth of knowledge to share.

Disclaimer: General information only – none of the above constitutes legal, financial, immigration or tax advice. Please speak to a licensed professional to assess your specific circumstances.

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