How did you come to hold your current position?
MSM Malaysia Holdings Bhd is a public-listed company with zero gearing and healthy cash reserves, and plenty of potential. As a seasoned banker, I have been exposed to various business expansion plans, especially in mergers and acquisitions, and I was selected to unlock the value of MSM and grow its business globally.
Why do you think that a CEO’s first 100 days are critical to the company’s future success?
Some say that the first 100 days are critical for a new CEO to establish his or her own footprints in the company. For me, a new CEO needs to set the direction by analysing the current situation of the business and deciding how to steer the enterprise to achieve its goals. The CEO will then be able to develop a firm direction aimed at transforming the company. It is vital for the CEO to get complete buy-in from all employees as well as stakeholders. This will eventually result in impressive growth for the company.
When I joined MSM Malaysia in December 2013, it happened to be the most challenging year for us, as we were operating without any subsidies from the government for the first time. The influx of imported and cheaper sugar, particularly from Thailand, only worsened the situation. It had become a totally different ball game but, despite that, we successfully steered through and made a net profit of MYR257million, the highest ever recorded by the company.
How do you propose to propel MSM Malaysia to be a leading world player in the sugar industry?
My one and only mission when I joined MSM is to take it to a whole new level, from a local leader to a world player. Tapping on my banking background and business experience, I have put in place a strategic business plan for global expansion that includes venturing into upstream and downstream industries. With the opening of our trading office in Dubai this month, MSM will continue to strengthen its competitiveness in domestic and export markets. We are also in the process of identifying four more representative offices in China, India, Indonesia and Thailand, which will move us closer towards our goal of becoming South-East Asia’s premium sugar refining and trading company.
What are the recent developments in the global sugar industry that you are most excited about?
There will be changes to the sugar landscape. The market is fragmenting, especially in sugar trading, where the number of small dealers is diminishing while medium-sized ones are being absorbed by bigger traders. As for MSM, it is important that we have control of the entire supply chain, from upstream to ship charter, warehousing, trading companies and refineries. To control costs, we are going into trading, not just to buy from traders, but also from the sources themselves, such as Brazil or other raw sugar producing countries like Australia, Thailand and South Africa.
What are the secrets of a winning CEO team?
I have always believed in getting the trust and buy-in from board members and senior management to ensure that all strategies can be turned into reality. A new CEO should ensure that everyone is on the same page, providing the best input in formulating the company’s strategic direction and achieving goals. My style of management is, I will listen and accept my team’s criticism on my strategies but it must be backed by facts. Once the target and direction have been set, I will expect the respective heads to deliver the results.
Being a result-oriented person, I have also implemented the KPI system at all levels. I have always believed in rewarding the deserving ones with performance bonuses and promotions. KPIs must be communicated clearly and strategic plans must be shared transparently with board members.
What must you do to stay on top of your game?
I stay clearly focused on my key areas. Business strategies are not static and, as CEO, I continuously revisit them to suit current global changes. I believe that execution is extremely important. Brainstorming on planning is important but it must be followed through with another session on execution. The timing for executing the plan is also crucial to ensure that you will achieve the directions set. I will need to be actively on the lookout for opportunities to expand the business. I believe, as a leader, you must have foresight.
Why do CEOs need a dose of James Bond in their lives?
James Bond is a flamboyant kind of person but he never fails in his mission. He is also portrayed as a bold and daring person. Somehow, a CEO has to adapt the style of James Bond, where he/she must not fail and yet be bold in making their decisions.
Which movie in your opinion best serves as an important lesson for a CEO and why?Â
I have always considered Wall Street (1987) as an important lesson for everyone, including CEOs. It’s about a young and impatient stockbroker eager for success in the corporate world. He makes the right choice by joining a corporate raider and becomes rich. However, he lets his emotions control him, leading him to do anything to get to the top, including trading on illegal inside information.
The basic principal of business is not to allow emotions to control you. When that happens, greed will eventually come in and there are no boundaries on what your action will be.
What keeps you awake at night?
As CEO, I have always set my personal goals higher than that for the company. What keeps me awake is determining how to achieve my goals. Aspiring to be one of the top global players in the sugar industry, I kept myself busy thinking and strategising the way forward, getting there quickly and how to stay there. Employees’ affairs are also very close to my heart and finding ways to ensure they as well as other stakeholders are happy is another thing that keeps me awake at night.
