Professional Documents
Culture Documents
achievement
Tomei started with an initial capital of barely RM5,000 and only four
staff members. The main person behind the company, Teck Fong has
never expected to be involves in it until a once in a life time
opportunity that led him to the achievement of what he has today.
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Credit has to be given to his third brother as it was he who gave Teck
Fong a chance to receive tertiary education. It was also he who brought
Teck Fong into the jewellery industry, unleashing his full potential in
this career.
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hard during that period, it was worth a try for the sake of his next
generation. Teck Fong would recall his mothers words: I work hard to
improve the livelihood of my future generations. I hope next generation
would be better than the last.
He began his business undertaking in 1968. It started off with the
goldsmith contracting project that was of the lower capital. Two years
later, he explored the jewellery wholesale business with his friends.
After three years of hard work, he became famous jeweler in Kuala
Lumpur and Selangor in 1971. By then, he was already a father of
three.
By the time his fourth child was born, he had expanded his business
to retailing and bought two shop lots in Kuala Lumpurs first shopping
complex - Campbell Shopping Complex. Some three years later, he
opened another gold and jewellery shop in Sungai Wang Plaza.
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Currently, Tomei Gold & Jewellery (M) Bhd owns 27 retail outlets.
Teck Fong adopts new management concepts from time to time in
order to keep the pace with the times. One of the examples is the new
brand My Diamond that was launched in 2001. My Diamond
highlights fashion, trend, innovation, bold and affordable prices. It also
uses its platinum crown beads series as the selling point to attract
youngsters.
Teck Fong used his sharp sense in business to build his brand by
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Teck Fong could still recall the disagreement and sarcasms drawn
towards his singular opinion and bold move. However it led to the
turning point for the jewellery industry to what it is in Malaysia today.
The jewellery product distributed by Teck Fong bears the Yi hallmark.
This serves as living advertisement for their brand. Any jewellery
product bearing the Yi mark symbolises the quality assurance in the
market. This is how Teck Fong built up his integrity image. His products
are still highly regarded in the market until today. With this decision
and action, Teck Fong fully displayed the spirit of walking on your own
path (Not being afraid to do what one thinks is right).
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Some of the gold and jewellery shops managed by Teck Fong were
making monay while some were relatively poor in performance. Yet
that does not mean Teck Fong would simply shut down those shops. He
felt that every staff member,especially those who have served the
company for years, have their own family to look after. No doubt it is
not an unethical decision to dismiss the workers if we were to look at it
from the business point of view. However, it would then be something
to deliberate of viewed from the aspect of social responsibility. If
keeping the staff members employed would not affect the
fundamentals of the company, then the company might inadvertently
played its part in contributing to social responsibility.
Think about it. If each staff member were to bear the living
expenses of three, then dismissing 100 staff members would have
affected the lives of at least 300. If every company were to dismiss
their employees on the same reason, wouldnt it be creating chaos in
society?
Tomei Gold & Jewellery (M) Bhd Managing Director Ng Yih Pyng
(Teck Fongs second son) brought in his own vision and practices by
expanding them from his fathers stewardship. He placed his vision on
the international market to strengthen Tomeis operations overseas.
Mainland China, United States and the ASEAN countries are all the
potential markets that Tomei is devoted to develop. One of the
pipelines to explore the international market is taking part in the
international Gold and Jewellery Exhibition. This would provide the
opportunity to learn more of the gold and jewellery products and
understand the industry in other countries. Other than that, the most
important thing was to be able to bond with the existing customers
while establishing new ties through such an occasion.
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The success in listing exercise not only proved the unique vision
and business acumen of Teck Fong but also the confidence of public
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Discussion Questions
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