This article first appeared in The Edge Malaysia Weekly on December 11, 2017 - December 17, 2017
TO err is human. But being willing to learn from one’s mistakes and having the perseverance to do things better are what make a person outstanding in whatever endeavour he or she undertakes.
This is what 33-year-old Chiau Haw Choon believes in. His journey has taken him from secondary school dropout to group managing director of building materials group Chin Hin Group Bhd, and he is the newly crowned Malaysia EY Entrepreneur Of The Year (EOY) 2017.
“My message to aspiring entrepreneurs is to be passionate about what you do and don’t be afraid to make mistakes,” Chiau tells The Edge after receiving the country winner award at a glittering gala event held at The Majestic Hotel Kuala Lumpur last Thursday. He was also named the EY Emerging EOY 2017 Malaysia.
Three other outstanding entrepreneurs were also honoured: Alliancecorp Manufacturing Sdn Bhd managing director Tan Ging Hoon, who was named the EY Technology EOY 2017 Malaysia; The Center of Applied Data Science Sdn Bhd managing director Sharala Axryd, who won the EY Woman EOY 2017 Malaysia award; and Mega Fortris (Malaysia) Sdn Bhd group CEO Adrian Ng, who was named the EY Master EOY 2017 Malaysia.
Chiau imparts his advice with a huge grin on his face as he cradles two crystal plaques inscribed with the recognition of his entrepreneurial achievements. It is a moment he never thought he would see when he took over the family business from his father as a fresh graduate 10 years ago.
To Chiau, who moments earlier had lifted the plaque that proclaimed him the country winner to thunderous applause, the acknowledgement was proof of his fundamental belief that perseverance is the key to success.
“What makes us the entrepreneurs we are today is not just the mistakes we made along the way, but what we did to fix them. We don’t ever give up. We fall, get back up again and go for the goal,” he says.
On his biggest mistake, Chiau hints that “it had to do with hiring” but he does not elaborate. He says his weekly routine now involves focusing on growing Team Chin Hin by acquiring the right talent.
And his proudest moment? That would be listing Chin Hin on the Main Market of Bursa Malaysia on March 8, 2016, which would not have been possible without the inspiration of his father and grandfather, he says.
“My grandfather started the family’s first hardware shop 40 years ago in Alor Setar, Kedah. Then my father went into the cement trading business with Chin Hin. As for me, I joined 10 years ago after returning from my studies in Melbourne, and that was when we ventured into different businesses,” he says.
Today, the Chin Hin we see is an integrated building materials corporation with an annual turnover of over RM1.3 billion. And from a staff strength of just 70, the company now employs 1,000 people.
“I really owe this [recognition] to my grandfather. For without him, I would not have been exposed to this industry. And I would not have got this far without my team. Because of my colleagues and peers, the group is what it is today,” he says.
“We went public last year and I am proud of what we have achieved as a family business. I will cherish these glorious moments. Our listing status gave us a competitive edge, which is needed when it comes to raising capital and going for acquisitions. It really gave us a huge platform with exposure to the capital market and the ability to grow further.”
As Malaysia’s winner of the EOY this year, he will join the crème de la crème of the entrepreneurial world in Monte Carlo next year, where he will compete with over 60 other country winners for the coveted EY World Entrepreneur Of The Year title.
“It is really surreal and overwhelming that I will be on the global stage representing Malaysia. Nevertheless, I look at the competition as a learning experience. I will use every opportunity I can to learn as much as possible,” Chiau says.
“As a participant and entrepreneur, I want to be myself, and a role model to other young entrepreneurs. I believe entrepreneurship is about more than just making a profit — we need to give back to the community.
“Another thing to note is that it is never too late to make changes in life. I re-started my secondary education at 17 years old, but I made it,” he says, referring to going back to school after dropping out at the age of 13. He eventually completed his studies and graduated from a university in Australia in 2009.
Going forward, Chiau foresees that Chin Hin will continue to carve its own path of success despite an increasingly challenging business environment with stiff competition and disruptions.
“We will continue to focus on what we are good at, which is building materials, and continue to provide unique value propositions to the construction and building materials industries. I will do my best for Chin Hin’s sake,” he pledges.
“For me, being in business means we have to react to the ups and downs in the market and adjust our strategies based on the current scenario. I am optimistic we will do well in 2018,” he adds.
The Edge is the media partner for EY Entrepreneur Of The Year Malaysia 2017
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