|Kit Loong Tyre is now 75 years old. In another 25 years time, we will be a “century-old” business enterprise!
Is there a prescription for an enterprise to reach the grand old age of 100 years, and continue to be “evergreen”?
According to studies reported in a reputable business magazine, in terms of business longevity, Japan leads with the most number of enterprises exceeding 200 years old, accounting for 40% of the global total; followed by Europe. Many have even surpassed 1,000 years of existence. Most of these evergreen enterprises are “small and medium enterprises” (SME) that are not listed on any stock exchange. The 5 oldest enterprises in Japan are unlisted SMEs.
Asian century-old enterprises typically look beyond business profit and growth only, emphasizing also long-term contributions to relationship, career and personal values of customers, staff and family members, so that continuity through future generations can be responsibly accomplished.
Kit Loong Tyre, having traversed
75 years of eventful existence,
displays many similar characteristics of
Asian evergreen enterprises.
Our corporate culture places heavy emphasis on developing human resources, integrity and quality products. In addition, we value mutually rewarding long-term business alliances, and our relationship of more than 40 years with Michelin is a notable testimony. Our undistracted focus on the tyre industry drives us to excel in our core competencies, enabling us to consistently deliver quality products and services. It also contributes to our strong fundamentals, resulting in the ability to constantly generate fair returns to our shareholders.
The siblings of the second generation that took over the helm of Kit Loong Tyre, managed to transform the family-based business into
|a professionally run enterprise, by engaging professional managers, cultivating capable talents and adopting progressive management systems.
Through the years, the leader enjoyed full cooperation and unequivocal support from all concerned, enabling us to collectively face numerous ups and downs, and share in the challenges and successes of Kit Loong Tyre.
During our 70th year anniversary celebration in 2001, when the stewardship of Kit Loong Tyre was officially handed over to the 3rd generation, I announced my hope that they will emulate the 2nd generation, and persevere to achieve dedicated long-service, implement good management systems, nurture staff talents, and provide quality products and services, so that Kit Loong Tyre will continue to perform well and we can all look forward to our centenary celebration in due course.
In the 5 years since then, the 3rd generation team, led by CEO Mr. Jacob Chen, has pragmatically and responsibly implemented the restructuring and reengineering of Kit Loong Tyre, with careful consideration for preserving our core values. Progressive actions to divest unpromising ventures, reorganize resources, deploy talents, and realign focus have been undertaken to strengthen the long-term position of Kit Loong Tyre.
To chart the long-term future of Kit Loong Tyre, we can draw on the experience and lessons from our 75 years history. We have to develop suitable strategies for profitable growth. We have to be innovative and dynamic in our market approaches. We have to continuously enhance our capabilities and strengthen cooperation with alliance partners. We have to be responsible towards our customers, suppliers, employees and shareholders. In short, we need to be successful in delivering values to all our stakeholders.
Let us work together to realize the vision of a century-old evergreen Kit Loong Tyre!