Name of Recipient:
Mr. Willy Koh
“Being a successful entrepreneur, a person should possess 4 personality; High Compliance, Stable, High Inter-Personal and Dominating. Adding on to it he must also have a certain Charisma- Likeability, Determination, Creative, Trust and able to give and take.” Mr Willy Koh answers when asked on what other qualities a person need in order to be successful in business. With the same principals, Mr Willy Koh started Racer Technology in December 1988 specialising in manufacturing high quality precision product components, sub-assemblies and contract manufacturing. Through a systemic understanding of the requirements and target feasibility experiments, Racer’s product design service makes device development more predictable in scope, time and cost. Racer Technology is now one of the leading medical device manufacturers in the world.
Its disciplined approach to systems engineering, programmatic risk management and detailed design reduces development risk and minimises cost and time to market. As an integrated solutions manufacturer, it provides services in all thermoplastic-related manufacturing, from industrial/mechanical design, CNC prototyping, silicon tools, prototype tools, production tool fabrication, precision machining, precision engineering plastics, EMI/UV/cosmetic spray painting, finishing decorations, ultrasonic welds, ultrasonic cleaning, sub-assemblies till final package.
Racer can provide direct support from many strategic locations throughout Asia. With its workforce running on three shifts, six days a week, clients are assured of good lead-time in deliveries. The Group has a staff strength of about 2,000 regionally and 300,000 sq ft (27,870 sq m) of manufacturing space with over 280 injection machines ranging from 30 to 55 tons. Singapore serves as the company’s headquarters with connections in Malaysia, Indonesia and China. Finished products can be shipped directly to its customers’ distribution channels.
Racer now own their R and D team, tool room and manufacturing facility, 7 factories in 4 different country and sale, marketing and product management office in 2 countries USA and India it is no wonder why they are able to keep up with the increasing demand of their clients throughout the years.
“Challenges bound to happened, when we first established, we started from ground zero. Unlike many big player in the industry, if we see it’s a good product and good sound management even it’s a start-up company with only 2 person, we will take the project. However the risk is very high as 50% of our customer cannot make it to the market due to market changes, not enough investment, or 20% are just out to con manufacture like us.” Mr Koh adjourned. “Besides that, finance is one of the greatest challenges faced. Most bank kick you aside if you are a new company, so for Racer we treasure the bank that recognize us at the start. When starting up, people around us such as good business friend suddenly turn cold shoulder toward us. Either they look down or afraid that we can do better than them. It’s definitely an eye opener for me, as I am able to see who my actual friends are.” Mr Koh commented upon Racer’s arduous start. Nevertheless, such a potent company prevailed all odds. “We believe in honesty and good integrity, we set up a standard core coed of conduct, transparent, 3 quote, no favoring and recognizing people are our most important asset. I do the management training myself, we conduct bi yearly leadership, negotiation course and a simple half day presentation to all new employee. These allow our company to provide standard services to all of our clients.” Mr Koh commented with certainty.
“Racer Technology provides high quality material and uncompromising quality through a quality management system, and Good Manufacturing Practices (GMP), that comply with International Standards. Our Quality Management is maintained through advanced statistical techniques, coupled with the lasts technological equipment. That is how we differentiate ourselves from other company in the industry.” Mr Koh responded. Though out the years, Racer was awarded of ISO 9001:2008, ISO 13485:2003, ISO 17712:2010, FDA and UL certification.
“Life is like a Race, we need an objective and a racer to complete the race. Even if we fail, we know we tried our best and leave our life with no regret. Same thing apply for the company, if any of the staff tried their best yet they fail, I will not blame them. However, if they lay back and take it easy or over confidence then I will be unhappy. That is how the company’s name Racer Technology comes about.” Mr Koh divulged the meaning of the company’s name.
“Like what you are doing, never compare yourself to others, ability to adapt to changes, good attitudes and behavior. Learn to empathetic, tolerate, respect others, appreciates and accepts other achievement. These qualities enable you and your company to be successful in the long run.” Mr Koh’s advices for young budding entrepreneur.
“We will continue to invest more on our R&D, IP and automation, as of last year 2011 we invested close to 1 million. We strongly believe that we will keep growing as a company to provide a wider spectrum and better services to all our clients.” Mr Koh revealed his future plan for Racer.
Racer’s Uniqueness and versatility stems from our being both an American and Asian company, armed with an average of 15 years experience, lead by Mr Willy Koh and his skilled management. Racer Technology Pte Ltd would be impregnable in its stance for the future.
28 Changi South Street 1 Changi South Industrial Estates
T| 6546 8318
F| 6546 8313