Family Business Plan
Information About The Business
Ming Yi Feeds Sdn Bhd was established and started its feeds operation in Malaysia in 2004 by the founder Seah Yeok Chee. The establishment of the company is to support the founder’s family business in chicken farming. Ming Yi produces and market animal nutrition product and provides consulting services to customer across the poultry value chains. They are specialized in producing chicken feeds and selling the raw material especially corn and soya bean. Besides that, Ming Yi Feeds is operated in the category of control and management of family member. All the important thing and decision is making by themselves but not the outsider. The business is the first generation and established for 8 years.
The founder of Ming Yi Feeds Sdn Bhd is not currently planning his retirement and is not deciding to pass the ownership of the company to anyone since he is still young and is able to run the business.
The succession factor of the company is the father of the CEO is highly support for the business. And one of the biggest customers of the company is the BM Lean Huat Chan a chicken farming company own by the CEO’s father. The supportive family members of the CEO is participating themselves in the business and the support from their father made the company successful.
The business is kept private and confidential to the public as well as their family. The only persons able to access the business information are the CEO and his father. This is because all the business information is crucial to the company like their supplier and customers.
The founder does not have any interested to sell their family business, because the owner dreams to remain the business in their family. However, in order to expand their business, shareholder may be required to gain some capital, but the family will still holding the majority share compare to other shareholders.
The company is implementing a basic compensation method which is base salary and allowances.
Ming Yi Feeds Sdn Bhd was established and started its feeds operation in Malaysia in 2004 by the founder Seah Yeok Chee. The establishment of the company is to support the founder’s family business in chicken farming. Ming Yi produces and market animal nutrition product and provides consulting services to customer across the poultry value chains. They are specialized in producing chicken feeds and selling the raw material especially corn and soya bean. Besides that, Ming Yi Feeds is operated in the category of control and management of family member. All the important thing and decision is making by themselves but not the outsider. The business is the first generation and established for 8 years.
The founder of Ming Yi Feeds Sdn Bhd is not currently planning his retirement and is not deciding to pass the ownership of the company to anyone since he is still young and is able to run the business.
The succession factor of the company is the father of the CEO is highly support for the business. And one of the biggest customers of the company is the BM Lean Huat Chan a chicken farming company own by the CEO’s father. The supportive family members of the CEO is participating themselves in the business and the support from their father made the company successful.
The business is kept private and confidential to the public as well as their family. The only persons able to access the business information are the CEO and his father. This is because all the business information is crucial to the company like their supplier and customers.
The founder does not have any interested to sell their family business, because the owner dreams to remain the business in their family. However, in order to expand their business, shareholder may be required to gain some capital, but the family will still holding the majority share compare to other shareholders.
The company is implementing a basic compensation method which is base salary and allowances.