On why family firms matter to emerging economies, SMU Vice President (Business Development & External Relations) Annie Koh said that while family firms in South East Asia tended to be second- and third-generation, some European businesses have passed through 15 generations or more. "In large parts of South East Asia, business and family are largely inseparable and in India, for example, the family business is a source of the social identity of the individuals belonging to the family," she said. Ms Koh added that "South East Asian families tend to like to be in diverse business – partly to manage risks and grow different lines of businesses. And when they grow global, they like to seek out other family firms across different regions, as the trust factor is critical.”