When Frederick Chavalit Tsao shared the chief executive role with his father it was a trying experience.
“There were two chopsticks in the same rice bowl,” he says, recalling the five years in the 1990s when father and son shared the executive suite at the family’s Singapore-based IMC Group shipping company.
Only after his father finally stepped aside in 1995 – when Mr Tsao bought him out – did the younger man manage to get full control of the business, an industrial conglomerate that traces its roots back to the founding of a shipping concern amid the turmoil of the Chinese civil war in 1949.
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