Ernst & Young Entrepreneur Of The Year Award
Recipients Share Breakthrough Experiences

KUALA LUMPUR, November 21, 2005 – Three of Malaysia’s top entrepreneurs, Y Bhg Datuk Tony Fernandes of AirAsia Bhd, Y Bhg Dato’ Mohd Nadzmi Mohd Salleh of Nadicorp Holdings Sdn Bhd, and Y Bhg Dato’ Dr Lim Wee-Chai of Top Glove Corporation Bhd, inspired over 200 business leaders and budding entrepreneurs with their success stories at the Entrepreneurs’ Forum today.

Themed “Malaysian Entrepreneurs’ Breakthrough – Positioning in the Marketplace”, the Forum was part of the Entrepreneur Of The Year® (EOY) 2005 initiative. At the Forum, the three speakers, each one a past EOY Award winner, gave heart-warming accounts of their journey to success, the challenges they faced along the way and how they have become the success that they are today.

“Good success stories always make great role models. This Forum is important because it helps to bring to light such stories that exist here in Malaysia, and make it very real and absolutely attainable. Entrepreneurs can learn from each other’s experiences and be inspired to pursue their own dreams of success,” said Y B Senator Tan Sri Nor Mohamed Yakcop, Minister of Finance II.

“These are entrepreneurs who have expanded their business beyond our shores. They can teach other Malaysian entrepreneurs how to capitalise on the emergence of Asia as a dominant economic force. They can show our entrepreneurs how important it is to be resilient and competitive in the dynamic market, so that our nation can continue to attract the world’s attention for trade and investment,” added the Minister.

“Ernst & Young is dedicated to nurturing the “entrepreneurial spirit” amongst the business communities across the globe. We believe that as the lifeblood of any economy, entrepreneurs play a key role in driving the growth and development of a nation,” said Y Bhg Datuk Dr. Abdul Samad Alias, Chairman of Ernst & Young Malaysia

“With the rapid pace of globalisation, these are both daunting and exciting times to engage in business. The need for this kind of dialogue has never been greater. There is much that we can learn from each other, especially from role models who set the benchmark of entrepreneurial excellence for our nation. We are very pleased with the outcome of today’s forum, and are confident that the words of wisdom from our three distinguished panellists and open dialogue greatly inspired and benefited entrepreneurs who participated,” he added.

The Entrepreneurs’ Forum provided a platform for the exchange of ideas, experiences, key learnings, emerging trends and challenges that are faced by Malaysian entrepreneurs as they emerge as players in the global marketplace. This event brought together both past winners and present nominees, to encourage networking for success. It reinforced the importance of mentoring in driving the growth of the entrepreneurial spirit in Malaysia.

Speakers shared their experiences of how they faced challenges and took advantage of the opportunities presented by the global economy of today. They highlighted that constant innovation was important because entrepreneurs of today must be able to compete with local and foreign competition, both locally and at a global level. Perseverance and a strong sense of commitment to pursue their dreams were some common ingredients in their formulas for success.

Y Bhg Dato’ Mohd Nadzmi Mohd Salleh used his “Proton Experience” as a case study to illustrate the importance of branding and marketing, when establishing a niche in a highly competitive business environment like the local automotive industry. Establishing an attractive price point for a product and knowing your market, are other important factors that can make or break a business.

Concurring with him was Y Bhg Dato’ Dr Lim Wee-Chai, who highlighted that entrepreneurs must endeavour to be innovative in offering quality products at competitive prices. Y Bhg. Dato’ Dr. Lim, who drew laughter from an appreciative audience with his statement “why have a muffin when you can have a large piece of the cake,” is an entrepreneur who believes in adopting a hands-on approach to his business. His simple business philosophy is “Must Know, Must Do and Must Teach.” The result of his determination is that today, Top Glove churns out 15.6 billion gloves a year with the present 187 highly efficient production lines in 11 factories across the globe.

AirAsia is a good example of a company that believes in giving employees the opportunity to constantly improve themselves. Y Bhg Datuk Tony Fernandes acknowledged that AirAsia’s employees were the company’s greatest asset, and said that feedback from staff of all levels was encouraged as well as valued. As part of his business strategy, he highlighted the importance of being able to take leverage opportunities in the face of adversity. Despite being faced by recent challenges such as SARs, the tsunami and then the Bali bombings, Air Asia has grown phenomenally.

Jointly hosted by Ernst & Young and Auto Bavaria, this event was held in conjunction with the upcoming Ernst & Young EOY – Malaysia Award ceremony, which will take place on 2 December 2005. Fourteen top EOY nominees will vie for this year’s category awards as well as the coveted top title at the Award. The winner of this year’s Award will represent Malaysia at the World EOY Award event in Monte Carlo in June 2006.