Names of Recipients:
Mr. Eric E.H. Teo
Mr. Teo Eng Chong
Mr. Khin Maung Aye
Multibase Construction was established in 1997 under a sole proprietorship. On 17th April 2000 the company was incorporated as a Private Limited Company with Mr Eric E.H. Teo ,Mr Teo Eng Chong and Mr Khin Maung Aye being its directors. Over the years, Multibase Construction Pte Ltd has grown to be an established name in the local market, providing quality one-stop construction specialist services and solutions to a wide range of customers.
In its continuous quest to provide higher standards of service,, Multibase Construction Pte Ltd has achieved ISO9001:2000 Certification, in November 2003 for General Building, Civil Engineering & Demolition, Provision of Structural / Concrete Works. Multibase Construction Pte Ltd is a BCA registered entity and a member of the Singapore Contractors Association and was awarded Suscessful Entrepreneur award 2010. On 22/04/2010 Multibase Construction formed a fully-own subsidiary company known as Multibase Asia Pacific Co Ltd (MAP) in Vietnam.
For Mr Teo Eng Chong, the decision to start his own company was due to his past company undergoing some changes, forcing him to venture out and work for himself. For Mr Khin, he was a manager prior to this and it was during year 2000 that he got to know Mr Teo during a business trip which eventually led to the partnership that it is today.
However, with a lack of capital, manpower and client base initially, life was really hard for the three directors. Nevertheless, the three stuck together and decided to “do everything by ourselves until 2 to 3am in the wee hours daily just to build a strong foundation”. When they managed to gain clients’ trusts, especially the major clients, they would then give them bigger projects which would be beneficial for the company’s growth prospects. For efficiency, the 3 of them focused on different areas and had a harmonious working relationship. With a sound working model and quality delivery, the company eventually gained the trust from suppliers to give them credit terms and that would ease the company’s credit crunch.
“Provide solution to clients who would then trust us to finish the job in time! To fulfil client’s specific needs, you need to provide specialised service and not in general to gain the nod of approval from the clients!” exclaimed Mr Teo, when asked about the differentiating factor about his company.
With Singapore having a small domestic market, targeting the regional countries and going abroad seems to be the only way to expand. “We are thinking of going overseas to expand. For now, we are targeting Malaysia, Vietnam and Myanmar to diverse into international trading, manufacturing and investments,” Mr Khin shared.
To the three directors, entrepreneurship has different meanings. To Mr Eric, it is about being “Able to control and choose your own path”. To Mr Khin, “it is the energy to make more from my previous experience”, thus challenging himself to make things better for himself and for others. Lastly, to Mr Teo, entrepreneurship allows him to “Fulfil your dreams, be motivated and have more strength in life”.
In addition, to Mr Khin, the top priority is to maintain the unity between the three. “Harmony and Trust is important. Now, we have to take care of all the 150 family members in the company. It is amazing to see how everyone is working towards a common goal and having a better life than before. Seeing is believing.”
To be successful in business, Mr Eric felt that integrity and having honesty in dealing with various people is extremely important. “There is no shortcut to success. Be prepared to work very hard and make lots of sacrifices along the way. Most importantly, be good in your own skills and understand the market well.”
Mr Khin’s words of advice for budding businessmen are “Take care of others; share the fruits of labour with everyone in the company right to the last member. Have the strong will and perseverance to go through the tough times. It is never easy to go through all the hardship in business. It is a long and arduous journey. Always think of others and treat everything as a learning opportunity. Learning is a lifelong journey.”
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