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NOTE BOOK N EWS IN BR I E F


Indonesian family business puts $300,000 into Palu disaster relief


Koo Kwang-mo, son of the late LG Group


chairman Koo Bon-moo, has become a board member of the South Korean family-


controlled holding firm and its chief executive. It marks the


first time a great-grandchild of the founder, Koo In-Hwoi, will lead one of South Korea’s top 10 conglomerates.


The prestigious A


n Indonesian family conglomerate put its logistical muscle into getting relief supplies into disaster-struck


Palu as the country reeled from its fourth natural disaster in less than two months. The death toll in Indonesia’s twin quake- tsunami disaster, centred on the island of Sulawesi, climbed to more than 1,424 with time running out to rescue survivors a week after disaster struck. The magnitude 7.5 earthquake and tsunami it spawned destroyed 66,000 homes and displaced an estimated 60,000 people in Palu. It followed a series of earthquakes in Northern Lombok in August that led to 564 deaths. To provide immediate relief, Surabaya- based Sekar Group, which owns the iconic Finna brand, used its extensive food distribution network and local mining operators to deliver food, blankets, and tents to those affected. Sekar and its partners donated $300,000 in supplies and services from rice and noodles, to cooking oil, water, and clothing. It had 50 staff working fulltime on the relief


6 CAMPDENFB.COM


effort, including 35 people enduring a 10-15 hour drive to deliver food to Palu’s 350,000 inhabitants. Second-generation executive Ryan Fong Jaya helped coordinate the group’s relief response from Jakarta as access to tsunami-lashed Palu was being severely restricted by the local governor and Indonesian military. “We have been using our network in southeast Sulawesi as our home depot where we stock up the supplies from the charitable contributions from our group and third-party partners,” Fong Jaya said. “We then send trucks up to central Sulawesi to disperse the food. “We want to raise awareness in the international community that the way to contribute to this effort is to assist with the aftermath. To help rebuild the city. “This has always been part of our [Sekar Group’s] culture. That’s why my uncle founded the Institute for Ethics in a Global Economy at Boston University… The most important thing he wants to pass on to the next generation are his ethical values, rather than financial capital.”


European Families in Business Awards will partner with BNP Paribas


Wealth Management in 2019. CampdenFB’s eighth annual awards will be presented in


Milan, Italy on 2 July at a gala dinner event attended by


many of the Eurozone’s best- known families. Nominations open on CampdenFB.com on 2 December.


Tadashi Yanai (69), billionaire founder of


Japanese clothing brand Uniqlo has announced his two sons, Kazumi and Koji


Yanai, will be promoted to the board of parent company Fast Retailing, but insisted neither would take over his post in the near future “to maintain proper governance.”


PHOTOGRAPHY: ALAMY, PRESS ASSOCIATION, UNIQLO ISSUE 74 | 2018


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