ENTREPRENEURS should always look to grow their company, advised Top Glove Corporation Bhd founder and chairman Tan Sri Lim Wee Chai.
“You must grow your business because the cost keeps going up every day and every year.
“Your staff will want higher salaries and bonuses every year.
“Only through expansion, improvement through technologies, research and development, and the saving of material costs can it be done,” he said during the Federation of Malaysian Manufacturers’s CEO Forum 2015: Building World-Class Organisations at E&O Hotel in Penang recently.
Top Glove started with only three production lines in 1991 and has emerged as the world’s largest rubber glove manufactu- rer, capturing 25% of the global market share.
The company currently owns and operates 27 factories across Malaysia, Thailand, and China with 484 production lines and a production capacity of 45 billion gloves a year.
It serves a growing network of over 2,000 customers in 200 countries.
When asked what made his company continue to grow after so many years, he said “Set a direction.”
“Think what you want your world market share to be.
“For us, we set it at 25% which we have achieved.
“So now we want to capture a 30% share of the world market.
“Many say that it is impossible but we will work towards it,” he said.
However, in order to grow, he said talent and good finance were much needed.
“Whatever you have committed to in quality or delivery, it must be upheld,” he said, adding that in business, one must keep improving or risk falling behind.
Another speaker at the forum was chairman and founder of Silverlake Axis Ltd, Goh Peng Ooi, who spoke on ‘Managing IT Challenges in Manufacturing’.
The forum was aimed at providing entrepreneurs with inspiration to achieve world-class status.
The focus was on understanding the challenges faced and learning how to overcome them and learning from entrepreneurial giants in their industries.
It was also attended by students from Universiti Sains Malaysia, SMK (L) Methodist, SMK Penang Free School, SMJK Chung Ling, SMJK Jit Sin, and Jit Sin Independent High School.