MD message on the occasion of the 75th anniversary:
Date : 30 December, 2022
Dear our esteemed customers, business partners, all the stakeholders and ladies and gentlemen,
It is my great pleasure to have an opportunity to share my message on this occasion, company milestone of the 75th anniversary to celebrate and wishing a coming Happy New Year of 2023.
1.Company history :
United Motor Works (Siam) Public Company Limited. (referred as UMWS) was founded on the 30th December, 1947 by our current Chairman Mr Chia’s family. The origin of history is back to 1917 when our Chairman’s grandfather started his small business in Singapore. I can imagine it how hard they worked and their endeavors to have gone through many challenges and tough time to develop and keep the business to grow and survive so many years, that I highly admire and appreciate.
Through the generations down to what we are now standing at our current business domain with our founder’s spirit as Corporate Core Value of “Driven by Excellence”. Our Founder Chairman, current Chairman’s father, Mr. Chia Cheng Guan left his perpetual statement as our maxim to descendent generation of us : “A good business reputation does not spring up overnight but grows slowly and soundly, because it is rooted in the solid ground of customer satisfaction.”
This founder chairman’s statement is kept as our DNA which has been the core to keep supporting our business 75 years long and over for future. We proudly keep challenging to sail through rough ocean of current market to hand over the baton to the next generation, which is our responsibility.
2.Turning point :
Since UMWS had celebrated our 70th Anniversary of 2017, these 5 years were one of the most drastic changes of our life and business environment. It was a very tough time for us but I was confident and believe that we could overcome the situations and rebuild our strong foundation to grow further. A Japanese old proverb says “Winter sure goes to Spring and never goes back to Fall”. The important thing is our preparations during the winter time and the harsh experience taught us how we sail our ship out to a right direction for which we must have a good compass and clear direction to move forward.
We are aiming at the year of 2027 in another 5 years to reach our 80th year anniversary by when we shall transform our business fundamentals as solid ground of our customers’ satisfaction and great customers experience by our excellent quality products and services.
Our business slogan is “Engineer the Value” by which we have reviewed our business portfolio and enhanced our Corporate Governance by setting a Code of Conduct and Internal control as ISO certified body.
Our business is sustained by all our stakeholders such as our shareholders, operation managers and staff, venders, suppliers, our community and even by our competitors. It is our Corporate Social Responsibility to return our debts of gratitude to all the stakeholders and contribute to our local community. Our corporate culture must be established by our Mission and Vision and it is our belief that our Corporate Culture will be our Community culture to develop a better life.
Corporate Credo tells us (1) The ultimate value of our life is developed by new challenge and continuous growth. (2) Our toil to our mission is the base to create the value as human being. (3) Turning our business practice to our local community culture contributes to the sustainable development of peace in our society.
The market environment continues changing and the demand of customers also changing by which we feel the time now goes by faster not only time but also our market domain is transforming. We need to keep learning new things to cope with these changes otherwise we will be washed out one day from the market. The value engineering and value engagement which we call “VE2” are very important and indispensable guideline for us to tune our business activities and attitude for the right approach to new demands in the market.
It is now popular that everyone focuses on “DX” (digital transformation) which we try to adapt to our business control as well. It is more important for the management to understand it how we can reduce our “wastes and losses” which are the fundamental causes of economy turmoil and inflations by all. We are small but we believe that we could change the world by our efforts as far as we keep challenging for the betterment.
I do highly appreciate the endeavors of our managers and staff, all the employees and continuous supports of business partners without which we are not here now. Especially I would like to express my sincere gratitude to our shareholders and board members, all their supports behind the scene in many ways.
6.New Challenge :
We face now a lot of new challenges and the global order shifting to a new stage. Due to recent global new virus pandemic of Covid-19 resulting in recent and even current confusions of supply chain, shortage of electric tips and its parts production at factory, manpower issues due to the market demand drastically shifted, and this year Russian invasion to Ukraine which created global inflation by an economic sanction to Russia by EU/US alliance countries. None of nations and countries cannot be independent or intact from other countries disorder the impact of which is deeply affecting our daily lives like the current hike of living costs, squeezing our profits by unreasonable harsh price competition in the market and the business operation costs increase.
7.Strategic direction :
The Sky ahead is cloudy and the future is uncertain for everyone. We must be mindful enough and prepared to any situation of economy turmoil and possible global depression. Under this circumstances, the management direction, its clarity and goal setting is very important. We shouldn’t forget it how to live best at present due to being afraid of an uncertain future.
Our key strategic actions are as follows :
- Reset our Market position through our VE2.
- Right focus on our income source.
- PEE management in all the operation segments.
# PEE : Productivity, Efficiency and Effect.
Nothing new but it is very fundamental tools of management and its implementation matters the most.
It is our belief that the growth is only the evidence of our business and life. Individually and as a team, we always look for our growth, daily, weekly, monthly and yearly. We will achieve our goal toward 2047 to become “100 years company” going through coming challenging times by all our efforts and teamwork. The future exists in our current moment of determination and right mind-set.
9.Growth mindset :
This growth mindset is our basic and fundamental driver to redirect our mistakes which we may make but learning from them for a good harmony and dynamic progress. Only by our business growth, we can generate our profits and enable us to share it with our stakeholders. Exploration, effort, harmony and dynamic progress are our obligation and responsibility by which all our staff family members’ happiness will be the base for the Corporate business development. I sincerely wish everyone take ownership of our operation and leadership for our business development by your growth mind-set.
10.New future begins :
We step forward to a new day with our shining spirit believing that our new future is in our hands and it is you to transform the company to a better shape thanks to your good business discipline.
Congratulations to everyone, my great thanks to everyone from my heart with respect and appreciations. Happy 75th anniversary day blessing all your family members being safe and healthy.
With my best wishes.
On the 30th December, 2022.