Names of Recipients:
Mr. Sim Yew Ying
Mr. Loo Yong Kiang
Ms. Sim Wai Fun
Everybody loves their automobiles and we use these automobiles in so many areas of our lives. That can be for getting from point A to point B, transportation of goods, to military exercises. We make use of automobiles in almost every facet of our lives.
Therefore, it is all the more important that automobiles are serviced and maintained well. Venda Engineering & Trading Pte Ltd is a company that specialises in vehicle fleet maintenance and the manufacturing and reconditioning of spare parts. Currently, the company counts heavyweights such as SBS, Comfortbus, and STK among its many clients.
Mr. Sim and Mr. Loo, who are veterans in the industry, started the company. With a combined experience of more than fifty years, the duo decided to start their own business in 2004. With their extensive knowledge in the area of maintenance of different types of vehicles, and existing customer contacts, Venda enjoyed success quite quickly.
Despite the early success, Venda suffered their heaviest amount of loss in 2012 and 2013, where they recorded more than $1.5 million in losses. Mr. Sim said that the company suffered badly during that year and “almost collapsed”. Ms. Sim, mentioned that it was a very tough year for everyone involved. She said: “If the company were to close, more than 200 jobs would be gone.” With their team and the company in mind, the three directors sought to work out a way to salvage the company.
The three directors worked day and night to find solutions to this crisis. Ms. Sim said: “We worked closely with all of our operation managers to bring down costs, and discontinued projects that were not doing well.” Little by little, the company’s financial health improved. Not only have they regained a healthy financial outlook, they also learned from their experience and improved themselves and the company.
Last September, the company celebrated their 10th year anniversary, and the management created a video montage to thank the staff for their dedication and support. Ms. Sim, who compiled the video, mentioned that she enjoyed making the video because it allows for team bonding and is also a good way for the management to reach out to the team, “who made it all possible.”
Venda stands out in their line of work because they offer flexibility and customisation for their clients. Giving examples to this point, Mr. Loo said: “With different companies, they have different KPIs. SBS and CitiCab would have a different set of KPIs, so what we do is, we are able to customise and adapt to their needs and work in accordance to their individual requirements.”
With one eye on the future, Venda is intending to expand their repertoire. The company has intentions to set up their own workshop and warehouse.
Venda is a company that has a storied history, as they have managed to steer themselves away from collapsing. There are many things for the company to be proud of. Firstly, Ms. Sim says that while they had previously rented offices, they now “own [their] office”. Secondly, the company has the technical expertise to be able to manufacture and recondition spare parts. Thirdly, the directors are all proud to say that they have established their company’s name in the automotive engineering field.
Mr. Sim said that an entrepreneur cannot accomplish much without a good team. He mentions that he is thankful to be able to have a team of loyal and dedicated employees who would sacrifice their sweat and tears for the company. Ms. Sim added: “We work as one big family, not only for the company, but also for a better future!”
Furthermore, the other key element to a company’s success lies in gaining the trust of clients. Venda has also excelled in this area, as many of their clients are repeat customers and they often provide positive word-of-mouth referrals for the company.
Evidently, Venda’s story is indeed awe-inspiring. More specifically, their grit and optimism when faced with a possible collapse a few years ago are qualities to be marvelled at. Potential entrepreneurs will undoubtedly benefit from reading Venda’s story, as they will walk away having learnt a great deal about the power of human strength from the pioneers of the industry.
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