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Excelpoint boss builds success on trust
SGX-listed Excelpoint Technology Ltd's founder and Group CEO Albert Phuay was named Entrepreneur of the Year Award 2017 for Electrical & Electronics Industry last month.
"I am very honoured and very happy to have won the award. It is a recognition of my entrepreneurial journey and an acknowledgment of the hard work that my team has put in over the last 30 years," he said.
"This award is an encouragement and will serve as a reminder for me and the company to continuously adapt and innovate to remain competitive and to add meaningful value for all our stakeholders."
Mr Phuay added that his vision has helped the company stay resilient over the years. Today, the business is a leading Asian gateway between suppliers and customers, and whose technical capabilities benefit its partners.
"Trust and strong bonds have brought Excelpoint to where it is today - a company with presence in over 40 cities and more than 650 employees across the Asia-Pacific. I also believe that my passion for growing the business and the team has contributed to the success."
Entrepreneurship is key to the growth of Asia's economies because of its creative nature, said Mr Phuay. "Entrepreneurs are passionate, and are continuously thinking of ways to grow businesses. They are leaders in their own fields, they create disruptive and constructive innovations which help the business sector to grow.
"Entrepreneurship is a journey that tells a story and these stories inspire other entrepreneurs - increasing creativity and creating more leaders. It's a valuable cycle."
Looking back, he credits the founding of his company to trust, hard work and a stroke of luck.
In 1987, one of the electronics suppliers he was working with offered him an opportunity to distribute its components. "Although it was a great opportunity, I did not have the money to start the business," recounted Mr Phuay.
"Fortunately, one of my close friends trusted my enterprising spirit and ambition, and lent me US$25,000 to start Excelpoint. That was the turning point in my life. From a one-man show, Excelpoint today is a billion-dollar company.
"This trust and goodwill that my friend placed in me still serve as the fundamental values at Excelpoint, and they have been the cornerstones of my business for the past 30 years."
Excelpoint is a leading electronics components distributor with integrated technical capabilities providing quality components, engineering design services and supply chain management to original equipment manufacturers, original design manufacturers and electronics manufacturing services in the Asia-Pacific region. It is among EBN's top 25 global franchised distributors in 2017.
The company will focus on widening its reach in the Asia-Pacific region, banking on emerging countries building on their infrastructure - a good indication of technology growth.
"We will also continue to mine the opportunities coming from the advent of the Internet of Things (IoT) by setting up labs, enhancing our technical capabilities, and building on our product portfolio. These will prepare us for the descent of the IoT, which might be the next technological evolution.
"We see technology as the key driver in many countries, and we hope to leave our footprints across these countries."