A NEWCOMER seems to be shaking things up at construction firm Koon Holdings as the company prepares to diversify and deepen its businesses. Tan Thiam Hee, who has been CEO since July last year, has been busy integrating the different units of the holding group, with the aim of leveraging their respective strengths for bigger projects.
‘When I came in we weren’t maximising what we had,’ says Mr Tan, who is a certified accountant. ‘So I put a challenge to my managers: ‘This is what we are doing now. How are you going to do more’?’
Competitive advantage
The challenge arose because he realised Koon may no longer be able to compete for open tender contracts based on cost alone. The company’s latest annual financial results are telling. 2008 profit after tax was $1.97 million – down from $6.18 million in 2007. The bright spark is the firm’s $172 million Continue reading
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