31 May 2017 - Member companies from the Metal, Machinery & Engineering Industry Group made a visit to homegrown Wong Fong Engineering to learn about their corporate journey to innovate and scale up the value chain.
Mr Eric Lew, Executive Director of Wong Fong Industries Ltd and also the 2nd Gen leader of the family-run business hosted fellow members and presented candidly on not just the successes, but the challenges that emerged whilst transiting and transforming the business.
"Innovating and transiting from an integrated system service provider to a brand owner is not easy. It takes a lot of resources which most SMEs do not have. That is why Wong Fong decided to collaborate with others in order to make things happened," shared Mr Lew, "there are risks as the payoff takes time, but we have to try."
An initiative that kickstarted Wong Fong Engineering's innovation journey was the setting up of Wong Fong Research and Innovative Centre (WFRIC). Thus far, it has teamed up with an F1 engineering giant to make an electric supercar called Dendrobium.
Besides the Dendrobium, which it describes as a "lighthouse project that has invigorated our company", WFRIC is also working on a range of other electric vehicles, including the Ant Truck (an electric truck) and Motochimp (an electric bike).
Mr Tan Ru-Ding, Director of Delphic Manufacturing Solution Pte Ltd said, "It was very heartening to hear what Eric shared about his struggles in stepping into the family business as I'm also going through the same transition in my family business. I learnt a lot of insights about what it takes and the practical know-hows to sustain a business from this visit.
Moving ahead, through WFRIC, Wong Fong would like to offer its experience, expertises and resources with fellow SMEs who are challenged in their pursuit to innovate and scale up. Interested SMEs who wish to find out may visit http://www.wfricworld.com/index.php.
Mr Raymond Wee, MME IG Deputy Chairman presenting a token of appreciation to Mr Eric Lew, Executive Director of Wong Fong Industries (R).