KUALA LUMPUR - In a dynamic display of insight and inspiration, leaders from the Karangkraf Group took centre stage at the 4th Asia Pacific Family Business Summit 2024, illuminating the path of their enduring success in the family business arena.
The summit, organised by BinaPavo @ kCommerce (M) Sdn Bhd (BinaPavo), resonated with the compelling narratives of Karangkraf Chairman Firdaus Hussamuddin and Sinar Karangkraf Chief Executive Officer (CEO) Farah Hussamuddin, who shared how emotional resilience and technological innovation have been the cornerstones of their company's growth over nearly five decades.
Farah captivated the audience with her personal journey, revealing that joining the family business was never part of her initial plan.
Growing up, she admired the relentless dedication of her father, Sinar Karangkraf Group Advisor Datuk Hussamuddin Yaacub, yet she yearned for her own independence.
"After graduating, I worked elsewhere for two years, determined to chart my own path. However, my father eventually convinced me to join and I agreed, thinking it would be a temporary stint.
"Nearly 18 years later, I am still here and I have fallen in love with the company,” she shared at the event held at St Giles Gardens Hotel and Residences here yesterday.
Farah's ascent was not without its challenges. Entering a company already established for 30 years, she faced the daunting task of earning the trust of long-time employees deeply loyal to her father.
"Many of the long-standing employees were loyal to my father and it took years to earn their trust. They did not listen to me, my sister or my cousins. Only my father commanded their respect.
"To thrive in a family business, you must first be mentally and emotionally strong. This foundation is critical because, when stepping into a legacy built over decades, you inevitably face rejection,” she added.
The initial years tested her resolve, often bringing her to the brink of giving up.
She stressed that the first seven or eight years at Karangkraf were some of the most challenging of her life.
However, Farah’s determination and emotional strength played a pivotal role in her ability to navigate these hurdles.
"There were moments when I wanted to quit. But I knew giving up was not an option. If we gave up, what would happen to the future of the company? Over time, as I gained the trust of the staff, things gradually became more accessible.
"Winning the hearts of the people at Karangkraf was crucial. Building genuine relationships with the employees and understanding their needs made all the difference. Without their trust and support, no amount of effort could succeed,” she added.
Farah also highlighted the importance of emotional resilience within the family dynamic.
Recognising and respecting each family member's strengths and roles was vital for maintaining harmony.
"Ultimately, navigating a family business requires emotional resilience and mental strength. It is a journey of managing not just tasks and goals but also the hearts of the people involved; employees, family and even your own.
"Over the years, I have learned that emotional fitness is the foundation of success in a family business. With that in place, everything else falls into place,” she said.
On the technological front, Firdaus stressed the necessity of embracing innovation to stay competitive in an ever-evolving business landscape. She discussed how Karangkraf successfully integrated digital and traditional media to adapt to the rise of artificial intelligence (AI).
"The company has now been operating for nearly five decades and how we have survived really depends on how we embrace technology and combine both forms. Essentially, we are traditional media, where we produce books and news, namely Sinar Harian.
"Previously, we worked in a physical manner, meaning we wrote and produced physical newspapers. Since the digital shift, we have also changed the way we work.
"We no longer rely solely on physical methods, but everything is now digitalised, from online newspapers to extensive use of AI, to stay relevant," she said.
Firdaus also pointed out the importance of leaders gaining a solid understanding of technology before introducing it to their teams.
She recommended that employers undergo training before sending their employees for it.
"Because as a leader, you must understand the technology beforehand. Why is it useful? What is the process? What are the results? What is the outcome?
"We believe that all employees must be equipped with this digital knowledge. Therefore, we sent all 500 employees for AI courses to ensure they have these skills, no matter which department they are in," she added.