Forty-Six years ago Thio Keng Poon started the Malaysia Dairy Industries in Singapore. What began as one company with a profit of one million dollars, has grown over the years into an industry with four companies and $800 million in profits each year. Throughout this time he has become well known for his entrepreneurial spirit, and no one contends, and Mr. Thio has even been quoted as saying he put his blood, sweat and tears into creating a viable and very profitable family business. He remained dedicated to his original ideas and philosophies concerning the creation of healthy products, from simple mild and dairy, to yogurt drinks, organic jams, and fruit juices. The loyalty of the customer base has been outstanding, due to the continued adherence of Mr. Thio and his companies, to the philosophies he believed in and the consistent quality of Malaysia Dairy’s products. Mr. Thio entered a Singaporean court last month, in attempts to save what he has created.
Two years ago, Thio’s family removed him as chairman of the company. He has been charged with over-claiming travel expenses, charging the company for reimbursement multiple times for single stays at various business hotels, Singapore restaurants, and airline tickets. It is alleged that he over-charged the company by more than $40,000. He hired attorney,Vinodh Coomarasamy, and has filed counter-suits against all four of the family businesses , all six of his children and his wife. They are being charged with oppression. He is now, as a result of transferred most of his financial holdings over to his family, just a minority stock holder in the company that he built. And as Confucian Filial Piety states, a philosophy he was taught by his father, the children must remain faithful and loyal to the patriarch. So even though he doesn’t ‘own’ most of his company, he believed that his children would still respect him as the leader of the company. Mr.Thio answered when questioned about it, that it is an unspoken understanding between a father and his children, but that unfortunately for him and his companies, his children do not follow the old philosophies regarding the respect of one’s elders. This court case began in March of 2009 and is expected to continue into April.