How Memtech morphed into a manufacturer of car components

SINGAPORE (May 26): In 2012, Chuang Tze-Mon (photo), executive director of Memtech International, led the ailing firm’s shift from manufacturing keypads for mobile phones to making components for cars.

Chuang admits it was not easy for the company to break into the automotive market. “It’s not an easy segment to get into,” he says. “But fortunately, once you’re in, it’s hard to get out.”

Now five years later, Chuang’s efforts to transform the company seem to have paid off. For the three months ended March, Memtech posted a 181% increase in earnings to $1.6 million from $569,000 a year ago. Revenue for the quarter was $36.4 million, up 9.8% from $33.2 million a year ago.

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