The Business Families Institute at SMU (BFI@SMU) aims to carry out research on family-run businesses. Speaking at the institute launch in March, Professor Joseph Astrachan from Cox Family Enterprise Centre, an American institute specialising in the study of family businesses, shared how communication was key to keeping a family business together. Some of the most prominent businessmen who have helmed family businesses also weighed in on Prof Astrachan's findings. [SMU Chairman of the Board of Trustees and] Executive Chairman of Banyan Tree Holdings Mr Ho Kwon Ping said that Asian businesses are at an "inflection point". "The first generation is passing on, the second generation (is the) custodian and the third generation is coming up…But we are also at a danger point because a lot of companies do not last beyond the third generation,” he said. Dr Stephen Riady, Executive Chairman of Overseas Union Enterprise, hoped that BFI@SMU could come up with suggestions on how to facilitate this transition.