132 | theceomagazine.com
in tune with the advancement of technology, to improve
productivity,” Mun Sum says.
“We’ve created workflow implementation systems
to streamline the workflow among production, logistics
and accounting.” Marketing has also been a challenge and
an area of the company that requires it to adapt to change
continually. “We’re exploring innovative views of marketing,
including the use of digital mediums and online
communication to market and promote our product.
We sponsor research projects in the university to develop
new technology for product development.”
LKF Medical featured in PwC’s family business survey
of 2016 as an example of “patient capital in action”.
“While other businesses typically look for a rapid return
on investment, LKF Medical was prepared to distribute free
samples of its product for 10 years to break into a new
market, all without taking on debt”, the report says.
LKF Medical General Manager Chris Leong discusses in
the report the advantage of slow growth, or as PwC calls it
“patient capital”. “Admittedly, the biggest impact that we’ve
had is slower growth, but it has also created an advantage
for us,” he says. “The company has been able to weather the