“When I came in, I conducted a culture transformation to optimise talent. I created a lot of leaders, so there will be more accountability. I turned every business unit into a performance-based reward. I saw morale transformed,” says Yong, who adds that he is a strong believer in employee engagement and that the company’s success should be attributed to the support of the employees. “If the employees are happy, they will stay and strive.”
After a long career in banking, Yong Jiunn Run, former head of commercial banking at CIMB Singapore, retired early at 58 due to job loss during the Covid-19 pandemic. Despite having ample free time, he felt unfulfilled by golf and socialising with other retirees. Seeking a more meaningful pursuit, Yong accepted an offer from Chua Beng Yong, chairman and founder of Beng Kuang Marine (SGX:BEZ
) , to become the company’s CEO. “I lent money to the company and even took up shares to prove my commitment. I took a risk,” Yong says in a recent interview with The Edge Singapore.
Since Yong became CEO in 2021, he has markedly transformed the company and boosted its performance. Starting this year, shares in Beng Kuang have nearly doubled to 26 cents. Although they remain below the 2009 peak of $1.52, Yong’s hard work to transform the company is evident and he is focused on further improving its financial resilience.
