Name of Recipient:
Mr Peh has always wanted to be an entrepreneur since young. “I just have this burning dersire to run my own business,” explained Mr Peh with fervour. He started in the consturction industry since he was 16.
Peng Chuan Engineering Construction Pte Ltd specialises in earth works such as site basement, HDB, Condo and road works. In particular, the company was tasked with the completion of the Jurong East MRT station. Upon completion, the company’s reputation skyrocketed to the acme. This project was rated as Mr Peh’s proudest achievements. “Besides that, this big projects we have taken involved over 9million SGD,” Mr Peh added with pride.
However, Mr Peh had his fair share of obstacles along the way. Initially, resources were at its nadir and the company simply did not have the ability to take up projects due to the lack of resources. “We were afraid that the main contractor might hold back the payments, which would affect the money needed to pay the workers, suppliers and diesel.” Furthermore, there was a need to maintain a positive relationship with the suppliers, clients and those working at the site so that operations could be run smoothly. “You need to be able to handle the stress when all responsibilities are on your shoulder. Learn to build on the human relationship. More often than not, it is such emotional aspects that are neglected that leads to discontent amongst the different parties,” Mr Peh advised.
To overcome the problems surfaced, Mr Peh knew he had to analyse and scrutinise the resources needed before taking up each project. For example, when he took up a project, he would ensure that all resources were adequate such as lorries, men power, trucks and other machineries needed. “Most importantly, always check with the main contractor for their payment. Ensure that they will have a healthy cash flow. Otherwise, you will find yourself facing a lot of problems as the situation worsens,” Mr Peh cautioned.
In addition, Mr Peh felt that what differentiated his company from the rest is the mindset. With the vast amount of experience gained over the years, Mr Peh learnt to be flexible in his working methods and to think and look ahead, which enabled him to always be ahead of others by a mile. Also, being the only director, decisions could be made quickly and with no internal disputes. Mr Peh said with aplomb that the company’s policy is to always be ahead of schedule, keeping to their promises and have no delays in the projects taken. Last but not least, productivity level is highly scrutinised by Mr Peh as he aims to not waste any resources and yet maximise the output.
Hence, what does entrepreneurship mean to Mr Peh? “It is a tough job, definitely not an easy option in case you think otherwise. There are alot of things to look out for. It is easy to set up a company but very hard to maintain,” Mr Peh explicated. Above all, Mr Peh mentioned that getting the right projects and having a good business strategy to allocate resources succinctly are of paramount importance in a successful business enterprise.
For those who are thinking of being a one-man show, Mr Peh has some words of wisdom as well. “It would be best if you are able to learn everything before finding the employees to help you, else you will be cheated without knowing. When you get to enjoy the fruits of labour that is when you feel the sense of satisfaction.”
Therefore, what are the key ingredients for success in the eyes of Mr Peh? “You need to have the ambition – if no burning desire to do it, things will be pointless. Know what you are doing. Be outspoken / extrovert to entertain and get to know people. This is called networking,” Mr Peh advocated, ‘Work under someone first if you are unsure. Most important of all, there must be the right attitude for work.”
Lastly, one might wonder what did Mr Peh do to keep himself constantly motivated to be successful? Mr Peh remarked with enthusiasm, “When a company is up and running, there is no way back to retreat. You can only keep running and brace yourself even in face of the deepest and lowest point. Effort is already made; we just have to keep thinking of finding solution instead of an easy way out. Approach people for help if needed. You reap what you sow. Never ever give up. There is always an exit at the end of every tunnel!”
18 Midview City #03-15, Sin Ming Lane
T| 6858 3477
F| 6858 4421