Bahrain Family Companies Society president Khalid Kanoo welcomed the recent disposition of Bahraini family firms to list on the Bahrain Bourse.

He said the plan showed a positive transformation in the thinking of owners who had realised the nature of challenges and requirements for their firms' stability, growth, capabilities and competitiveness.

He supported the move by family firms in Bahrain and the region and highlighted successful experiences of some which sought to grow in a world fast transforming with new technologies, competitors and more professional administrative techniques.

He said large family businesses had realised the need to transform into public shareholding firms to expand business vertically and horizontally.

He said small and medium enterprises (SMEs) with BD10 million ($26.5 million) capital had shown interest in restructuring and transforming themselves into bigger joint stock firms.

He said the society will hold a forum to discuss the outcome of its study regarding the status and future of Bahraini family firms.-TradeArabia News Service