IN THIS week’s Success: The Insight Story column, SunBiz builds rapport with Aima Construction Sdn Bhd managing director Khor Ken Yeon (pix).
How has your life experience made you the leader you are today?
My career began in my father’s company eight years ago but when I started, no one in the company knew who I was. I was treated in the same way as other new recruits were and this arrangement gave me the chance to learn from scratch as a young executive. Without the privilege as the son of the boss, my superior was blunt with me and that helped to sharpen my character and skills efficiently.
It is through hard work and training that I got to climb up the corporate ladder and become who I am today.
What traits do you look for in your talent or how do you decide who is right for a job?
Humbleness, honesty and determination – these are the three traits that I deeply value. High academic qualifications alone, without the three traits I mentioned, do not bring much value to the organisation. If you are not humble at your work, you can only go so far because you refuse to learn. If you are not hardworking, you tend to find short cuts in your work and will not be willing to go through the hard ways. And if you are not honest, you just cannot be trusted.
So, I would rather hire a person with low qualifications but with a good attitude, and train him or her accordingly.
How do you think the industry you are in will evolve?
I am involved in the construction industry, which has generally lagged in technology utilisation. However, I foresee the industry to be transformed with the help advanced technologies. By integrating greater technology at the office and worksite, such as the Industrialised Building System, we will be able to reduce our cost of business and also shorten our construction period. A substantially shorter construction period will result in efficient cost-control and reduce property prices for end-buyers.
What advice can you offer those looking to start their career/own business?
Be hands-on in your work, don’t expect others to take care of your business as you do. There is no short cut if you are starting a business and you must be willing to spend more time in building the business. You must sacrifice your time and life, and like it or not, it is hard to talk about work-life balance.
Learn how to grab opportunity when it comes as good chances are not always there for you. Besides that, you need to learn how to manage your cash flow, which is an art. Without good cash flow, you will fail when there are business challenges.
Lastly, identify your risk accordingly and do not let your over-excitement about the business blind you on the potential risks.
How has mentorship made a difference in your professional life?
My father is my mentor in life. He influenced me tremendously, especially in the risk assessment of projects. This is how I learned to gauge the risks involved whenever the opportunity arises. The initial focus is not on the profits, but on the risks.
The lesson is to be sceptical at first to fully understand a situation or a project. This also helps to control my mind, I won’t get over-excited with a new project, and instead, I learn to see the possible problems. But, of course, I don’t stop at being sceptical. I accept the risks or problems with an open mind and I search for the best solutions.
What do you want to accomplish in the next five years?
My aim is to diversify the revenue base for my company. My ambition has been always to develop a solid business and grow it bigger. The ultimate plan is to eventually float the company on Bursa Malaysia within the next five years.
This is my personal and company’s plan. Elevating the company to greater height will continue to be my personal goal. The better the company becomes, the higher satisfaction I gain.
Most-admired business leader? Why?
Elon Musk, because of his futuristic thinking. He sees the future of human history and dares to dream big. Many people may think that he is crazy, but he is out there to prove people wrong. Of course, he is not only an ideologist, but he also makes things happen the way he envisaged. He is determined and admirable. We need more of such people to make the world a different place.
How do you stay abreast of issues affecting your industry?
I consume most of my information from various media platforms. I also love to engage with people through business networking sessions and chambers of commerce to widen my exposure. I believe in learning from people by engaging with them. This is not only useful for my business, but also for my personal development.
In order to stay relevant in the market, one needs to learn from professionals and practise what was learnt. Never give up on learning.
What man-made innovation confounds you? Why?
The internet. It connects people beyond borders. With the internet, we can consume information easily at a fast pace. Imagine going through the pandemic without the internet, the impact will be very severe. Thanks to the technology, we can obtain latest updates on Covid-19 cases and viruses just at our fingertips. Business deals can also be conducted via virtual meetings without a physical presence.
A must-read for every business owner/manager is ...
Sun Tzu – The Art of War. This book provides guidance on how one can better handle a situation. Globally, many leaders are applying Sun Tzu’s methods in politics and business, although the book is already a few thousand years old by now. It is an influential work of military strategy that has affected both Western and East Asian philosophies.
Sun Tzu said: “If you know the enemy and know yourself, you need not fear the results of a hundred battles.”
So, you must never underestimate your competitors, you should know what they do, how they do it and relook your weaknesses and improve.
What are the top three factors you would attribute your success to?
I believe that I have yet to reach “success” because there is much to learn from the best leaders in the industry. If I have to choose three key factors that shaped my personality today, they would be honesty, hard work and determination.
I uphold honesty and refuse to be a crook who only cares about profits and margin. If you prioritise only profit and margin for all your business deals, it tends to cloud your judgements.
I believe in working hard and seek better solutions every time I face an issue. Without the constant determination to achieve greater results in life, one will not be able to climb the corporate ladder and build a trustable brand presence for their organisations.