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1 LEADING ENTREPRENEURS and HOW THEY SUCCEED

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3 LEADING ENTREPRENEURS and HOW THEY SUCCEED World Scientific NEW JERSEY LONDON SINGAPORE BEIJING SHANGHAI HONG KONG TAIPEI CHENNAI TOKYO

4 Published by World Scientific Publishing Co. Pte. Ltd. 5 Toh Tuck Link, Singapore USA office: 27 Warren Street, Suite , Hackensack, NJ UK office: 57 Shelton Street, Covent Garden, London WC2H 9HE National Library Board, Singapore Cataloguing-in-Publication Data Names: Enterprise 50 Association. World Scientific Publishing Co., publisher. Title: Leading Entrepreneurs and How They Succeed / E50 Association. Description: Singapore : World Scientific Publishing Co. Pte. Ltd., [2016] Identifiers: OCN ISBN (paperback) ISBN (hardcover) Subjects: LCSH: Entrepreneurship Singapore. Small business Singapore Management. Businesspeople Singapore. Classification: LCC HB615 DDC dc23 British Library Cataloguing-in-Publication Data A catalogue record for this book is available from the British Library. Leading Entrepreneurs and How They Succeed Copyright 2016 by World Scientific Publishing Co. Pte. Ltd. All rights reserved. This book, or parts thereof, may not be reproduced in any form or by any means, electronic or mechanical, including photocopying, recording or any information storage and retrieval system now known or to be invented, without written permission from the publisher. For photocopying of material in this volume, please pay a copying fee through the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA. In this case permission to photocopy is not required from the publisher. ISBN: ISBN: (pbk) Photographs by Yew Jia Jun (SidexSide Pictures) Layout and design by Jimmy Low In-house editor: Amanda Yun Printed in Singapore

5 Foreword This book celebrates local entrepreneurs who have overcome adversities, found innovative ways to grow, and transformed their businesses over time. They have done so in diverse sectors and niches, but with each contributing in their own ways to Singapore s economic advancement. There is much challenge ahead for Singapore businesses, given both the uncertainties of the global environment and the slowdown in growth of our labour force. However, there is also much opportunity, in Asia and elsewhere, even amidst the risks. Technology too will be a major enabler. It is bringing down the barriers for small businesses to scale up and compete globally. These developments provide the context to the new phase of development that we have embarked on, one that is focused on creating value through innovation. It will require new capabilities, building on what our businesses and workforce has developed over the years. But it is these new innovative strengths and skills that will enable us to make the most of the opportunities of the future, and weather the problems that come our way. We can achieve this transformation in our business sector and society, by drawing on the passions and strengths of every Singaporean, and helping everyone to keep learning through life. The stories in this book give us confidence that we can do so. My congratulations to each of the entrepreneurs featured, and to the people who worked with them, for the inspiring journeys they have taken. Tharman Shanmugaratnam Deputy Prime Minister & Coordinating Minister for Economic and Social Policies Franklin Offshore Holdings Pte Ltd v

6 Contents Acknowledgements v Foreword vii Introduction xii AllAlloy 1 Asia Polyurethane Manufacturing Pte Ltd 7 BD Cranetech 14 Bengawan Solo 20 Borden Company Pte Ltd 24 Capita Pte Ltd 32 Car Times Auto Pte Ltd 38 Cyclect Group 43 Ensure Engineering Pte Ltd 50 EPChem International Pte Ltd 57 vi Leading Entrepreneurs

7 Excel Precast Pte Ltd 64 Feinmetall Singapore Pte Ltd 69 Franklin Offshore Holdings Pte Ltd 76 Gain City Best-Electric Pte Ltd 84 Golden Bridge Foods Manufacturing Pte Ltd 89 Greenpac (S) Pte Ltd 96 Indoguna (Singapore) Pte ltd 103 Jason Marine Group Ltd 109 Jason Parquet Specialist (S) Pte Ltd 114 JEP Precision Engineering 121 JP Nelson Equipment Pte Ltd 126 Koufu Pte Ltd 131 Money World Asia Pte Ltd 136 Contents vii

8 Nordic Flow Control Pte Ltd 140 OKH Global Pte Ltd 147 Oilfield Supplies & Services Pte Ltd 155 Pollisium Engineering Pte Ltd 162 Rotating Offshore Solutions Pte Ltd 170 Ryobi Kiso Holdings Ltd 175 Serial System Ltd 184 Silver Bullion Pte Ltd 191 Sing Lun Holdings 199 SLP International Property Consultants Pte Ltd 206 Spectra Innovations Pte Ltd 214 Sunray Woodcraft Construction Pte Ltd 218 viii Leading Entrepreneurs

9 Supreme Components International Pte Ltd 225 Tat Hong Holdings Ltd 231 Tee Yih Jia Group 237 Trans Eurokars Pte Ltd 245 Transworld Group Singapore 252 ValueMax Group Ltd 258 Viking Offshore & Marine Ltd 264 Wanin Industries Pte Ltd 271 XMH Holdings Ltd 277 Zero Spot Laundry Service Pte Ltd 287 KPMG 292 Contents ix

10 Introduction Enterprise 50 Association (E50) was founded in 1999 with the mission to promote social interaction and a spirit of unity amongst E50 companies and entrepreneurs. In 1995, E50 established The Enterprise 50 Awards recognising local, privately-owned companies who have contributed to the economic development of Singapore and abroad. It has become a definitive list of the 50 most enterprising, privately-held local companies in Singapore. E50 50for50 Book Project With the vision of educating and inspiring the next generation of business leaders, E50 Management Committee are pleased to have engaged with local youth initiative, The Social Co. to document the stories and experiences of several entrepreneurs who will step forward to shape Singapore s economic future over the next 50 years. In your hand is a book that focuses not just on experience and knowledge, but also important human values such as compassion and love. It is also a timely project in the context of the SG50 celebrations held in 2015 to mark Singapore s 50th year as an independent nation. Through this project, we managed to raise a total of $1.38million. These generous contributions donated by each company featured in this book have gone into supporting 25 charities. What better way is there, than to learn from and be inspired by those who have built business empires, forged new frontiers in their respective industries and yet consistently given back to society? We are proud of their contributions and these are the beneficiaries: 365 Cancer Prevention Society alife Limited Alzheimer s Disease Association APEX Day Rehabilitation for Elderly Autism Association Singapore x Leading Entrepreneurs

11 Beyond Social Services Bizlink Casa Raudha Women Home Children s Aid Society Dyslexia Association of Singapore Friends of the Disabled Society Home Nursing Foundation Hospice Care Association Make-A-Wish Foundation Malay Youth Literary Association Movement for the Intellectually Disabled of Singapore O Joy Care Services Sian Chay Medical Institution Sree Narayana Mission (Singapore) Student Advisory Centre Thye Hua Kwan Moral Society Singapore Association for Mental Health Singapore Cancer Society Singapore Children s Society Very Special Arts and Viriya Community Services I hope that you will find this book as meaningful and inspiring as I did, and I am looking forward to seeing E50 grow to greater heights. Thank you. Andy Lim President, Enterprise 50 Association Embracing Innovation, Empowering Enterprises, Emboldening Minds Introduction xi