As the world’s natural resources deplete rapidly to meet rising consumption, there arises the problem of preserving the biological wealth for our future generations. With a vision to enable those presently living to meet their own needs, without jeopardising the ability of future generations to meet theirs, LHT is holding expertise in manufacturing and trading of wooden pallets and Timber related products. In this regard, LHT conducted extensive research on developing reliable substitutes for solid timber and related products. Most importantly, it illustrates their dedication to continue developing while maintaining the sustainability of their common resources.
“We aspire in the management of total packaging support to our customers in every aspects of their supply chain across their regional operations with state-of-the-art technology, excellent services and competitive pricing,” said May Yap, CEO of Lht Holdings Ltd.
‘Technical Wood’, the Most Advanced Building Material
To enhance its competitiveness, the Group sought to reduce wastage and ventured into the manufacture and sale of recycled wood products. In 1997, the Company entered into a purchase contract with a German corporation at $15.0 million in order to develop the Group’s wood waste recycling capability. This plant, which was commissioned in March 1999, enabled the Company to convert wood waste to a new product called ‘‘Technical Wood’
Technical wood pallets provide numerous advantages over timber ones such as high density, low moisture content, resistant to pests and higher consistency of its final products compared with timber products as timber comes with natural inconsistencies and defects. The products are therefore ideal for furniture, building material and heavy-duty industrial usage.
May Yap, an Aspiring Business Leader
May started her career at the tender age of 17 as an admin clerk with “Lian Hup Timber Trading Co”, a small partnerships timber trading business which was established by founder and managing director Mr. Neo Koon Boon. He started the company with 10 workers including 9 working-partnership with a total S$33,000 capital investment in 1977. A multi-tasker, May’s responsibilities include: to oversee the accounts, delivery, warehouse operation and sales etc.
May started her career at the tender age of 17 as an admin clerk with “Lian Hup Timber Trading Co”, a small partnerships timber trading business which was established by founder and managing director Mr. Neo Koon Boon. He started the company with 10 workers including 9 working-partnership with a total S$33,000 capital investment in 1977. A multi-tasker, May’s responsibilities include: to oversee the accounts, delivery, warehouse operation and sales etc.
Our Corporate Social Responsibility (CSR): We are always conscious of our role in the conservation of natural resources. Recycling is one of many efforts that reflect our commitment towards mitigating climate change and deforestation
On 2nd January 1988, May was appointed as an Executive Director by buying over the company shares of some withdrawal partners. The company went listing and have its names change from “Lian Hup Timber & Trading Pte Ltd” to LHT Holdings Ltd
On 10th Feb 2017, May was redesigned to Chairman, Managing Director and CEO due to the former founder Mr. Neo in unhealthy and aging, jess on 22 April 2020 he passed away.
The Singapore economic grew in a faster pace the years over due to the manufacturing and services sectors were the two pillars of high value-added economy. The manufacturing sector will require pallets for their goods to be shipped out globally, hence LHT as a logistic support in the supply chain tapping on the economic growth. The company also grew larger over the year and in the year 1999 and changed the company name to LHT Holdings Ltd was listed on the main board of Singapore Stock Exchange.
Expressed on biggest achievement May evinced, “Consider myself from an admin clerk at the lowest position to the top position, through rank and file employee, and a good model of “climbing the corporate ladder”.
The world has gone “digital” even the most traditional trade will need to embrace the digital technology. Asking about the most challenging thing, May said, “The wood pallet was invented since 1925 with not much changes over the decades, majority of our employees had been with us for more than 20 years and getting their mindset to adapt to new technology wood machine and adaption of new software development and digital gadgets or devices are most challenging one.”
Retaining Top Talent
Since the beginning of LHT, it is bestowed with the first generation of hardworking workers and till date, whereas some are in their 70’s and most have left were on retirement scheme and some citing bad health.
The company recognized the team efforts and reward them according to their accomplishments —additional bonus pay out half yearly and annually. LHT adopts the activity-based-costing (ABC) methodology that measures the cost and performance of activities.
“It is always challenging to bring in “new blood” and “old school” to be in a teamwork and importantly is the willingness of a group of people to work together to achieve a common aim,” said May.
Trust Makes You a True Partner
Customer centric LHT, clasping its client relations for 30 years. They learn to speak their language and building up trusts to make them feel that we are a true partner. They support all kinds of packaging products requirements by client, also introduce some new innovated packaging products that are suitable for them and reasonable price may come into the picture.
The company believes feedback and criticism are the ways that help to improve the company products. “Evaluation will be done for feedback to improve better as for criticism, I have learned “Garbage In Garbage Out” and seeing the changing world toward digital technologies,” said May Yap.
Future Ahead
For short term, LHT wishes to continue to concentrate on our key products and reengineer to make it better, cost effective and faster turnover.
For long term, LHT plans to incorporate technologies, transform the company to smart factory industry 4.0 production and solution base services. The company is managing uncertainty during a global pandemic by rethinking a new strategy in consideration with more challenging years ahead.
Business Continuity Strategies amid COVID-19 Pandemic
LHT Holdings is fortunate to be classified as essential service by its government during Covid-19 pandemic. The company faced some teething problems like shortage of foreign workers and mange to overcome due to some companies totally stop supply and this make a good balance of workforce distribution.
“The corona pandemic has changed the world the way we do our businesses, with more online business coming up and many traditional trades are closing. For now, we have to relook our business and take consideration on uncertainties. Businesses need to adapt the changes and look for opportunities local and aboard to survive the disruption caused by the coronavirus pandemic,” opined May Yap.
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