Further to several articles posted on our blog, we believe you have a good understanding of how to turn around a company. As promised you much earlier that we ALWAYS uphold our policy to share with you our knowledge, skill, expertise and experience. We do so because we wanted to pass back to the world which we have been benefiting from. We do what we preach. Transparency and consistency are two key indicators to verify such an act.
IN this connection, I will like to let you know that I learn about Lee Iccacoa who turned around the General Motors during the seventies. I was amazed with this guy and hope one day I may have the chance to apply what I have learned from this great author.
During my tenure with Time Advance Products, I was given an opportunity to work with a General Manager to turn around this sick company. After a couple of months of hard work, we were about to turn around the Said company. We have prescribed some of the formulae, suggested in my preceding articles, which stopped the company from bleeding further. Various measures such as shortening its cash cycle and fixing the cannibalized machine into a functionable machine to be sold for cash. However, that General Manager left due to a better offer from another company. As a result I was left alone there. I eventually left the company after I realized that a wrong guy was put in charge. It proved me right that the company was sold off to third party after I left.
That time I didn't really complete my mission as a Turnaround Manager.
However, I was put into a real test again when I was the Financial Controller of Transmile Group Berhad during the Asian Financial Crisis in 2007. Because of my past exposure, I responded with calm and steadiness. At times, I even laugh it out, as a way to release myself, especially when I was hit by numerous occasions such as Section 218 notice, Seizure notice, etc.
My boss who trusted me, throughout my past performance, so much that he gave me so much authority to implement several drastic and effective plans to keep the company afloat and continue to service our bankers, suppliers well after some restructuring exercises.
Thank God for putting me there to go through the entire cycle, which was a real sweet and rewarding job, although it was not easy. I finally achieved my dream to become a turnaround manager in 2009, at the age of 38. Good things did not end here. The Senior Management, at that time, decided to transfer me out from the finance for whatever reason known best to them. The rest is not relevant.
I took it as an opportunity to pursue my law degree so that I can peruse my other dreams. The rest is history. Again, it proves in my favour now as I have seen the light.