The CEO Magazine Asia – July 2019

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The company is now more than 90 years old. Mun Sum
is proud of managing Axe Brand oil for so many years and
for seeing the company expand into global recognition and
finding market acceptance in more than 50 countries. He
attributes this long-lasting success to Axe Brand oil being
practical and affordable. “It works, it’s affordable, and it’s
convenient to use,” he says. “That’s why it has lasted so
many years. For example, a newspaper will cost one dollar,
and you can still get a bottle of Axe oil at the market for
below one dollar.”

GIVING BACK
Mun Sum is a firm believer in aiding society. Leung Kai
Fook Medical Company (LKF Medical) sponsors many
projects and organisations across Singapore. The Kwong
Wai Shiu Hospital in Singapore has been a recipient of LKF
Medical’s donations of S$6 million (US$4.4 million) over the
past three years. It not only helps organisations in the medical
field, but has also donated to others such as the National

University of Singapore’s Department

of Pharmacy, an ambulance for

St John Singapore, the Singapore

Chinese Orchestra, Singapore Cord

Blood Bank, and more. “These are

some of the examples that show

giving back to society is important to us and what my father

always said,” Mun Sum says. “We also provide financial

assistance for education, such as scholarships.”

Axe Brand oil is helping society in many ways, and Mun

Sum says it has helped people deal with the pain that comes

mainly from living in the computer age. “So many people are

using the computer all day – they look at the computer and

at their phones – and feel eye strain and get shoulder aches

and headaches,” Mun Sum explains. “For hours, they look at

one screen or another. Axe Brand oil has become useful to

them to help relieve their aches and pains.”

PATIENCE IS A VIRTUE

The role of innovation in LKF Medical’s business and

operations has presented challenges for the company.

For example, there have been obstacles to overcome in

production. “There was the use of automation in the

manufacturing process as early as 1970, and for decades

the company had to constantly upgrade its facility to be

Axe Brand by LKF Medical is a recognised

heritage brand in Singapore and one of

Asia’s leading producers of medicated

oils. It boasts five Good Manufacturing

Practice (GMP) certified factories across

Singapore, China, Malaysia, Indonesia

and Vietnam featuring state-of-the-art

technology. It still retains the spirit and

passion of its founding father, Leung

Yun Chee, who started the company

in 1928. For more than 90 years, Axe

Brand has built an extensive network

of loyal customers, many of whom are

ambassadors of the brand to their family

and friends. It is a trusted brand in the

industry and used by millions of people

around the world.

Interview | INNOVATE