On 24 February 2022, Business China organised the fourth Prominent Business Leaders Dialogue Series (PBLDS) with guest speaker Mr Lim Hock Chee, the Co-founder and CEO of Sheng Siong Group Limited, known for owning Singapore’s third largest supermarket chain. Titled “Against All Odds: The Success and Outlook of Sheng Siong Group”, the closed-door dialogue session was conducted in a hybrid format.
The one-and-a-half-hour dialogue session saw close to 200 participants who included members of Business China and invited affiliates of Sheng Siong Group Limited. It was moderated by Mr Benjamin Ow, Executive Director and Deputy CEO of Annaik Ltd.
Business China CEO Ms Tin Pei Ling kickstarted the event with her opening remarks. She recounted the development and trends of the retail industry in Singapore over the years, and the cooperation between Singapore and China in terms of retail economy. She then briefly introduced Mr Lim’s illustrious career and Sheng Siong’s multiple achievements under his leadership.
Mr Lim then took the stage to share business philosophies that he believed to be essential as an entrepreneur and how these philosophies could be applied in business models and management frameworks. In addition, he gave insights on his experience expanding the business into the Chinese market.
The dialogue began after his informative speech, where Mr Lim fielded questions both from onsite and virtual audience members. These revolved the theme of navigating the shift in the retail sector with the incorporation of technology. Mr Lim commented that technology has rapidly evolved over the years and become part of everyone’s life. He expounded on how technology aids businesses, and listed factors such as service quality and prudent management as essential building blocks.
Other questions arising from the floor also touched on broader topics such as the competitive environment in the Chinese market which favours well-known international brands in the industry. Mr Lim acknowledged China’s rapid developing economy, highlighting the importance of being dedicated to improving the product and service quality to remain sought-after by consumers.
Mr Lim went on to discuss the relevance of bilingualism as a key advantage for Singapore businesses seeking opportunities in the Chinese market. The ability to communicate fluently in a common language, he said, is especially vital.
The Prominent Business Leaders Dialogue Series is Business China’s flagship dialogue series. It features successful and experienced Singapore and Chinese Business Leaders in various industries, who share their invaluable insights on business management and philosophies related to Singapore, China and ASEAN. It is attended by invited members and stakeholders of Business China.