The Tsao family had a successful business in transportation in Shanghai in the early 1900s. The outbreak of World War II and the subsequent civil war in China led the family to move the base of their business operations to Hong Kong. It was against the backdrop of the turbulent times that Chavalit Frederick Tsao’s father, the late Tan Sri Frank Tsao, took over the leadership of the family business while his great-grandfather expanded the business southwards and towards Brazil. This family business eventually evolved into International Maritime Carriers Ltd. (IMC), a renowned shipping company. IMC served Japan’s industrialisation during this period, which was the challenge of that era.     

Tan Sri Frank Tsao also navigated the company through a major shipping downturn in the early 1980s, and helped found Malaysia’s national shipping line, first shipyard, and seamen training centre. During this era, the company evolved further to support the industrialisation of South-East Asia. 

In the mid-1990s, Chavalit took over the reins and expanded the business as Chairman of the IMC Pan Asia Alliance Group (IMCPAA). He privatised IMC in 2002 to take advantage of the global shipping boom resulting from China’s economic growth. He went on to spearhead the modernisation of IMC’s business operations, diversify the company’s portfolio, and pursue strategic alliances and partnerships.

In the present day, IMCPAA is undergoing yet another evolution to steward the new era of a moral market economy. Focused on well-being and happiness, this new era will be guided by a social contract focused on the flourishing of Life. It will integrate a fresh appreciation of the impact of business, as motivated by enlightened stewards invested in co-creating a more sustainable and responsible world.