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Businessman Wong Teek Son has always been interested by the interactions between atoms that produce different states of remember and chemicals.
His love for this branch of natural science spurred him to turn into a chemist and laid the groundwork for the introduction of Singapore-listed glove manufacturer Riverstone Holdings many years later.
"Chemistry become my ordinary discipline in college - I loved experimenting with materials to supply chemical reactions and create new compounds," spoke of Mr Wong, fifty four, who become born in Malaysia's Cameron Highlands hill station.
The Bachelor of Science with honours graduate from the university of Malaya worked as a research and building chemist in a company imparting cleanroom items before constructing his own business within the late Eighties.
His sole proprietorship - based in Selangor, Malaysia - offered glove chlorination, laundry and packaging features to glove makers. In 1990, along side accomplice Lee Wai Keong, he formed Riverstone resources to center of attention on the manufacture of cleanroom herbal rubber and nitrile gloves the usage of superior construction suggestions.
"I certainly not deliberate to go into enterprise. The possibility introduced itself most effective because the business I worked for shut down, and we were able to use their creation strains," he talked about.
competitors within the business, besides the fact that children, became extreme. there were at the least 300 glove factories in Malaysia. Most found it difficult to live to tell the tale and many closed down. "We realised we crucial to supply a carrier to our valued clientele," noted Mr Wong, who also holds a grasp's diploma in company administration from Monash school.
considering that 1994, Riverstone resources has pioneered the manufacture of gloves the usage of nitrile latex in Malaysia, introduced on-line glove chlorination technology and developed nitrile finger cots the usage of its own proprietary construction technique.
"Nitrile generates a very low static charge and has first rate dissipative homes, however plastic, which is an insulator, has high static discharge. So, consumers begun soliciting for nitrile gloves," he stated.
Nitrile, an artificial rubber, is secure for these allergic to latex and is immune to a wide array of chemical compounds. Nitrile disposable gloves are the most durable available on the market.
For Mr Wong, formulating the chlorination process - treating newly fashioned gloves with chlorine to avoid adhesion on the construction line - become another milestone.
This way of life of constant innovation is the linchpin of Riverstone, which boasts a 20-potent R&D and technical group and an annual output of billion gloves. It has two factories in Malaysia, one in Thailand and a fourth in Wuxi, China, with a total of 40 production lines.
It has embarked on a five-stage means expansion strategy on its 12ha web page in Taiping, in Perak state, between 2014 and 2018.
beneath the third section, total annual output is anticipated to upward thrust to billion gloves through the conclusion of the September quarter. It aims to boost complete output with the aid of one thousand million gloves on the conclusion of each expects to complete the fifth stage of its Taiping enlargement plan by way of 2018.
To insulate revenues, Riverstone different into healthcare gloves. while cleanroom gloves command more desirable margins, demand for healthcare gloves is greater resilient. Pharmacies, hospitals and clinics proceed to make use of gloves even in a downturn, mentioned Mr Wong.
Riverstone, which listed on the main board of Singapore exchange in 2006, has a market capitalisation of about $780 million. It turned into the choicest performer among the 29 part stocks in the SGX All Healthcare Index remaining 12 months, chalking up a complete return of 151 per cent last year and 472 per cent over the remaining three years. This compares with the general total return of per cent for the 29 index materials during the past year.
CAPPING charges, BOOSTING MARGINS
Margin drive is a constant in the trade, Mr Wong noted. Riverstone will curtail fees by expanding automation, streamlining construction processes and improving economies of scale.
Its new offerings consist of gloves with decrease floor resistance, which enables the electrostatic cost to be dissipated without destructive delicate equipment or parts worried in the manufacturing system. Riverstone additionally presents nitrile gloves with a lower electrostatic discharge voltage than those available in the market.
Customisation is one other approach. "Given our bendy equipment and wide experience, we're in a position to provide bespoke products to fulfill consumer wants in the shortest possible time," he noted.
The enterprise is also broadening its consumer base. With complicated disk drives becoming a sunset business, it's providing gloves to other sectors within the technology sector, corresponding to photo voltaic, battery and flat-panel screen makers.
searching forward, the neighborhood expects higher income from its US-primarily based healthcare customers this year. "North the us can be the market so one can enjoy the strongest increase this year," he talked about.
The percentage of earnings from healthcare gloves is rising as demand from the pharmaceutical and medical sectors outpaces that of the electronics trade.
Healthcare gloves are expected to make a contribution more than 50 per cent of common revenues, with cleanroom accounting for less than half, in comparison with a 50:50 cut up in the fiscal year ended Dec 31, 2014.
Mr Wong said: "Our priority is to allocate production capability for cleanroom gloves, given their bigger selling expenses and margins compared with healthcare gloves, and we're capable of do so as a result of our creation traces are interchangeable."
do not be anxious, BE confident
backyard of labor, Mr Wong enjoys going for walks and ferrying his son, 15, and daughter, sixteen, to and from their lessons classes and extra-curricular eldest in a family of four brothers and 5 sisters, he tries to instil the values of optimism and tough work in his little ones.
Mr Wong, who misses the rolling tea plantations and funky climate of Cameron Highlands, returns to his home city once or twice a year to seize up with childhood pals and basketball teammates. a number of those teammates are now his colleagues in Riverstone, handling operations starting from advertising to human resources and creation. An MBA classmate additionally runs Riverstone's Thai operations.
What weighs on Mr Wong's mind, although, is Riverstone's succession plan. "most of the management and senior positions are held by friends - they've a very strong sense of loyalty and dedication to the enterprise, and are within the older age community of 40 to 50 years historical," he referred to.
"The query is: Can the more youthful generation continue this way of life in the business? it's an unknown, and continues to be to be seen."