Hi dear, first of all, WELCOME to my Global Interactive Ebook Project!

It's a pleasure to have you on board!

This is a GloBCal Interactive ebook, with around 200 collaborators (professional

side) &protagonists (fambiz and famoffice members) from more than 50 countries all

over the world. It will have outputs in order to find the tools and resources we can

offer to resolve your challenges facing the future from today.

The Concept “WoMen” is a disruptive

one (Women+Men Being, Thinking and

Doing Together), and will be the

essence as well as the Cultures

(personal), CuLtUrEs (about

FamBiz/FamOffice Diversity) and CULTURES (Regional/Countries´ ones)

As we have discussed some time ago, I share this basic information to remind you

about and the questionnaire to answer, so you don't need to take time recording
 video or podcast. You can do it by managing your time at your preference before the

established deadline on December 27th, for submitting and sending this via.

Full Name: REGINALD T. YU

Country (for chapter): PHILIPPINES

Globally expanded? Which countries? N/A

Family Business, Family Office or both?: Family Business

Company Name: Times Paint Corporation

Age of Company: 72

Sector: Manufacturing

How long have you been participating in your family business/family office? 32

years

Your Age?: 55

● How would you define your OWN CULTURE, your FAMBIZ culture, and your

REGIONAL Culture?

My OWN culture was influenced by my upbringing. I was raised in a firmly

Chinese-Filipino environment. Chinese-Filipinos are basically Chinese
descents, but they have considerably assimilated to the local culture and
therefore created our their breed of culture. We prefer to speak English (or
Taglish) as their first language, but poor or passable Hokkien and Mandarin.
Culturally, we are influenced by Western/Filipino thought and culture.

As a business owner, our FAMBIZ culture centers mostly in ensuring the

success of the family business. One of the Chinese traits greatly influenced by
Filipino culture pertains to close family ties. Our company is run by the owners
are usually family corporations, where the children occupy the top executive
positions. Respect for the elders is evident in our company, which is why
when the patriarch decides on something, the children obey without question.
Successors in our organization who are the sons and daughters of the founder
are given time to study the business and begin training by starting from a low
position in the company. I think this is the also the reason why continue to
grow in the hands of fourth-generation Chinese-Filipinos.

We attribute our success in business to frugality and hard work, Confucian

values and their traditional Chinese customs and traditions. We are very
business-minded and entrepreneurship is highly-valued and encouraged
among the young.
 With respect to our REGIONAL culture, China and the Philippines have shared
a long enduring relationship. Throughout their long withstanding historical
ties, they have shared inter-ethnic relations, territorial disputes, maritime
conflicts, diplomacy and foreign policy, trade and economic partnerships.
China’s influence over the Philippines extends to its economy, businesses,
politics, culture, and relationships with other foreign powers. China also
influences traditions in the Philippines, such as the celebration of Chinese
New Year, and also popular food, such as noodles, pancit, and sweet and sour
dishes.

● Which regional culture do you belong to?

I belong to the Chinese-Filipino regional culture.

● What are the distinctive characteristics of each culture?

As with other Southeast Asian nations, the Chinese community in the

Philippines has become a repository of traditional Chinese culture common to
unassimilated ethnic minorities throughout the world. Whereas in mainland
China many cultural traditions and customs were suppressed during the
Cultural Revolution or simply regarded as old-fashioned nowadays, these
traditions have remained largely untouched in the Philippines.

Many new cultural twists have evolved within the Chinese community in the
Philippines, distinguishing it from other overseas Chinese communities in
Southeast Asia. These cultural variations are highly evident during festivals
such as Chinese New Year and Mid-Autumn Festival. The Chinese Filipino
have developed unique customs pertaining to weddings, birthdays and
funerary rituals.

● How related is your culture to religion?

Chinese-Filipinos are unique in Southeast Asia in being overwhelmingly

Christian (83%) but many families, especially Chinese-Filipinos in the older
generations still practice traditional Chinese religions. Almost all Chinese
Filipinos, including the Chinese mestizos but excluding recent migrants from
either Mainland China or Taiwan, had or will have their marriages in a Christian
church.

The majority (70%) of Christian Chinese Filipinos are Catholic. Many Catholic
Chinese-Filipinos still tend to practice the traditional Chinese religions
alongside Catholicism, due to the recent openness of the Church in
accommodating Chinese beliefs such as ancestor veneration.

Unique to the Catholicism of Chinese Filipinos is the religious syncretism that

is found in Chinese Filipino homes. Many have altars bearing Catholic images
such as the Santo Niño (Child Jesus) as well as statues of the Buddha and
Taoist gods. It is not unheard of to venerate the Blessed Virgin Mary, saints, or
the dead using joss sticks and otherwise traditional offerings, much as one
would have done for Guan Yin or Mazu.

● How do they impact your behavior, performance, and way to get involved in

your family business or family office?

 Filipino and Chinese culture is integrating, gradually. It is not an assimilation
but an integration. In other words, as a Chinese-Filipino, I am adopting Filipino
culture but, at the same time, retain much of the Chinese culture. One of the
Chinese traits which was greatly influenced by Filipino culture pertains to
close family ties.

● How do they impact your decision-making?

Personal relationships play a large role in Chinese-Filipino business culture.

Finding a third-party introduction is a helpful strategy as I prefer to work with
those that I know and trust.

For this reason among others, nNepotism is common. It is also favored that
face-to-face meetings are held when possible as I consider over-the-phone
business to be impersonal.

As personal contacts can be crucial to success, I invest much time and effort
into my relationships. I seek to develop a friendship between individuals, not
companies. Therefore, if during negotiations the company changes the
representative who is in contact with them, for instance, I may have to start
over in order to cultivate a new relationship and deal.

I will often be eager to know them and may ask many questions about their
family and personal lives. Sometimes this can come across as direct and
overly personal, but it is not intended that way; in fact, they will expect me to
do the same to them. They may expect me to grant privileges for them on the
basis of my friendship and vice versa, which usually entail favors for their
family.

● Is culture a key factor in Women and Men participation in the business? Could

you explain it for each culture?

The role of men and women in the Chinese-Filipino FAMBIZ is explained based
on the context of Chinese-Filipino culture, standards, and mindsets. The
Philippines is described to be a nation of strong women, who directly and
indirectly run the family unit, businesses, government agencies and
haciendas.

Although they generally define themselves in the milieu of a male-dominated

post-colonial society, Chinese-Filipino women live in a culture that is focused
on the community, with the family as the main unit of society, but not always
according to this stereotype. It is in this framework of Chinese-Philippine
hierarchical structure, class differences, religious justifications, and living in a
globally developing nation wherein Chinese-Filipino women struggle for
respect. But, compared to other parts of Southeast Asia, Chinese-Filipino
women in Philippine society have always enjoyed a greater share of equality.

● How do you consider they have changed if they did, along the time? what

about the Covid situation, did it modify or needed to change to adapt to a new

culture version, innovating to survive and to move forward?

 The Philippines is among the worst affected countries in the South East Asian
region in relation to the COVID-19 pandemic – it has experienced the highest
number of new confirmed cases per day, second highest number of deaths,
and third highest rate of infection. The rapid spread of COVID-19 has
highlighted the critical role of care work, particularly in times of crisis.
Coronavirus containment measures have resulted in the closure of many
services — including schools, basic health care, and day care centers —
shifting responsibility for their provision on to households. While this could
offer an opportunity for gender roles to shift within the home, emerging
evidence suggests that care roles continue to be assumed disproportionately
by women during this pandemic.

The anticipated rise in unpaid care work provided by women and girls has
numerous consequences for gender equality, including increased risk of
infection and psychosocial effects from providing care to an infected relative.
What’s more, the heightened exposure to and risk of gender-based violence,
combined with reduced access to health services, all point to potentially long-
lasting impacts for women and girls’ health.

● Tell me about your family background and culture, please. How is your family

integrated and how does each one takes care and part of the Family Business

(you can explain for example, if you are 2 or more siblings/cousins whatever,

men and women, how many of you work in an active way and how many don´t

and the reasons (cultural, personal, family mandates and decisions or why?))

We are a family of three siblings: two boys and one girl. The girl is usually
married off and will not have a role in the family business once she is married.
Being the eldest, I am expected to take over the FAMBIZ upon retirement/death
of my parents. My younger brother, who was expected to play a supporting
role in the business, decided to migrate to Canada, leaving myself encumbered
to manage and run the business successfully.

In lieu of my brother who divested all his interests in the company, the burden
of supporting the business operations fell to my wife and eldest son.

● What is YOUR ROLE?

As the eldest in the family, my role is to take over the reins of the company
leadership. Thus, when my father was diagnosed with a severe critical illness, I
was inevitably appointed to replace him as president of the company.

● If you´re working on it or are a shareholder, when and how did it begin? Any

transition process, mandate, unexpected situation (founder death, illness,

decision to leave, professionalization of the biz...or other)?

As indicated earlier, my leadership role in the company has become inevitable

due to the fact that I am the eldest son in the family. After graduation from the
university, I have worked as an employee for an accounting firm for two years
before I was asked to work for the FAMBIZ. As of this writing, I have been
 active with the business for over 32 years. I was appointed president of the
company when my father was diagnosed with a severe illness that would
necessitate his retirement from the company.
● What are YOUR feelings and concerns about your participation at present and

future challenges in the fambiz? What do you need to face them? This is a

special interest FOR US to support you!

Personally, I feel that the culture of the FAMBIZ is too conservative.

Succession is passed from one eldest male to the next and old practices that
have been incorrigibly observed since it has worked in the past will no longer
work today.

Fiscal pressures, the search for talent, international expansion are just some
of the wide array of challenges we need to deal with in this new millennium.
Without doubt, however, the most critical challenge I see involves generational
change. More specifically, what happens when the fourth generation – the
great-grandchildren of the founders of the company – takes over. How can we
deal with the opening of new markets and with globalization and growing
competition from multinationals? How can companies like ours that have a
family character confront the professionalization of their structure?

● What about the NextGen involvement? “WoMen” (Women + Men) How are they

living and the fambiz managing their incorporation? Are the inner fambiz and

external culture doing any change as a response to the world, market, and own

dynamic system needings? If so, can you tell us a little bit about it?

With respect to our company, we are slowly transitioning leadership to the

fourth generation. My son, specifically, is already taking minor roles in the
company operations. However, since the company is still partially managed by
my mother, who maintains a very conservative culture, it will take a Yeoman
effort to professionalize management of the company in the coming years,
often relying on family members to take over management of the business.

While little progress has been made, I believe, to the extent that I can perceive
things, and my own experience, there is a great shortage in the management
and the regularity with which circumstances involving the family are treated.
For example, when it comes to developing talent, insufficient attention has
been paid to such circumstances as the arrival of family members in the
business and their compensation; the planning for succession; representation
of family members on the board of directors; and, in general terms, creating a
family plan that has a vision and has values that are attractive for all its
members.

No more by now…Thanks for your Amazing participation!

In case we need to develop some special points I will let you know. THANKS A LOT!
Keep in Touch! Bless you!