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Businessman Wong Teek Son has at all times been curious about the interactions between atoms that produce distinctive states of remember and chemical substances.
His love for this department of natural science spurred him to turn into a chemist and laid the basis for the introduction of Singapore-listed glove company Riverstone Holdings decades later.
"Chemistry became my commonly used subject in school - I enjoyed experimenting with resources to provide chemical reactions and create new compounds," noted Mr Wong, 54, who turned into born in Malaysia's Cameron Highlands hill station.
The Bachelor of Science with honours graduate from the institution of Malaya labored as a analysis and building chemist in an organization presenting cleanroom items earlier than establishing his personal enterprise within the late Eighties.
His sole proprietorship - primarily based in Selangor, Malaysia - provided glove chlorination, laundry and packaging services to glove makers. In 1990, together with associate Lee Wai Keong, he formed Riverstone elements to center of attention on the manufacture of cleanroom natural rubber and nitrile gloves the usage of superior construction recommendations.
"I certainly not planned to enter company. The probability presented itself only since the enterprise I labored for shut down, and we were capable of use their creation lines," he talked about.
competition in the industry, youngsters, changed into intense. there were at least 300 glove factories in Malaysia. Most found it hard to live to tell the tale and many closed down. "We realised we vital to supply a service to our consumers," mentioned Mr Wong, who additionally holds a master's degree in company administration from Monash university.
seeing that 1994, Riverstone supplies has pioneered the manufacture of gloves the use of nitrile latex in Malaysia, added online glove chlorination know-how and developed nitrile finger cots the usage of its personal proprietary construction technique.
"Nitrile generates a really low static charge and has respectable dissipative residences, but plastic, which is an insulator, has high static discharge. So, purchasers began soliciting for nitrile gloves," he spoke of.
Nitrile, an artificial rubber, is safe for these allergic to latex and is proof against a wide array of chemicals. Nitrile disposable gloves are probably the most durable on the market.
For Mr Wong, formulating the chlorination system - treating newly fashioned gloves with chlorine to prevent adhesion on the production line - turned into one other milestone.
This tradition of steady innovation is the linchpin of Riverstone, which boasts a 20-amazing R&D and technical team and an annual output of billion gloves. It has two factories in Malaysia, one in Thailand and a fourth in Wuxi, China, with a complete of forty creation lines.
It has embarked on a 5-stage capacity expansion method on its 12ha web site in Taiping, in Perak state, between 2014 and 2018.
below the third section, complete annual output is expected to upward push to billion gloves through the conclusion of the September quarter. It goals to increase complete output through 1000000000 gloves on the end of each and every expects to complete the fifth stage of its Taiping enlargement plan with the aid of 2018.
To insulate revenues, Riverstone varied into healthcare gloves. whereas cleanroom gloves command more advantageous margins, demand for healthcare gloves is greater resilient. Pharmacies, hospitals and clinics proceed to use gloves even in a downturn, stated Mr Wong.
Riverstone, which listed on the leading board of Singapore change in 2006, has a market capitalisation of about $780 million. It became the most suitable performer among the 29 part stocks in the SGX All Healthcare Index closing 12 months, chalking up a complete return of 151 per cent remaining yr and 472 per cent over the ultimate three years. This compares with the general complete return of per cent for the 29 index ingredients in the past year.
CAPPING prices, BOOSTING MARGINS
Margin power is a constant in the trade, Mr Wong stated. Riverstone will curtail charges by increasing automation, streamlining production approaches and improving economies of scale.
Its new choices consist of gloves with reduce floor resistance, which enables the electrostatic cost to be dissipated without damaging sensitive equipment or materials concerned in the manufacturing manner. Riverstone additionally offers nitrile gloves with a reduce electrostatic discharge voltage than these available in the market.
Customisation is one more approach. "Given our bendy equipment and huge experience, we're in a position to provide bespoke items to meet client needs in the shortest viable time," he talked about.
The enterprise is additionally broadening its consumer base. With complicated disk drives fitting a sundown industry, it is providing gloves to other sectors in the technology sector, akin to photo voltaic, battery and flat-panel reveal makers.
looking ahead, the community expects bigger sales from its US-based mostly healthcare customers this 12 months. "North the us may be the market a good way to enjoy the strongest boom this 12 months," he said.
The proportion of earnings from healthcare gloves is rising as demand from the pharmaceutical and clinical sectors outpaces that of the electronics business.
Healthcare gloves are anticipated to make contributions greater than 50 per cent of typical revenues, with cleanroom accounting for only half, compared with a 50:50 cut up within the fiscal year ended Dec 31, 2014.
Mr Wong pointed out: "Our priority is to allocate creation capability for cleanroom gloves, given their higher selling fees and margins compared with healthcare gloves, and we're able to accomplish that because our production lines are interchangeable."
don't be anxious, BE optimistic
outside of work, Mr Wong enjoys running and ferrying his son, 15, and daughter, sixteen, to and from their training courses and extra-curricular eldest in a family of four brothers and five sisters, he tries to instil the values of optimism and tough work in his children.
Mr Wong, who misses the rolling tea plantations and funky climate of Cameron Highlands, returns to his domestic town a few times a yr to catch up with childhood associates and basketball teammates. a couple of those teammates are actually his colleagues in Riverstone, managing operations starting from advertising to human substances and production. An MBA classmate also runs Riverstone's Thai operations.
What weighs on Mr Wong's intellect, despite the fact, is Riverstone's succession plan. "lots of the administration and senior positions are held via chums - they have a extremely effective sense of loyalty and dedication to the company, and are within the older age neighborhood of 40 to 50 years old," he stated.
"The query is: Can the more youthful technology continue this way of life in the business? it really is an unknown, and remains to be considered."