Just like his own transition from employee to successful entrepreneur, Fu Wing Hoong is a man on a mission. This time he is out to transform his company EITA Resources from a local company in to a key regional player. Fu began his career as a sales Engineer with a local company dealing in power distribution and control equipment. He slowly climbed the ranks to become group general manager and directorship within several subsidiaries. In 1996 when this company was acquired, Fu made a bold move to strike out on his own. Fu says he had been exposed to entrepreneurship while in school when he used to help sell food in the school canteen. In Form 3, he worked as a technician to earn his own pocket money. “I come from a family that did not have much. Since young, I have been aware that we have to create value and build assets as well as things that we can hold on to. Looking back, I think that I have always prepared myself to be an entrepreneur,” says Fu. Fu took a slightly different path to enter the world of entrepreneurship. He acquired a shell company to start his business. Soon after, he acquired two more shell companies and another company with a two-year track record.
He also asked some of his enterprising colleagues with expertise in electrical components and control systems to grow his company together. Several months down the road, his vision for his company became clearer and he renamed the group, Eita Holdings Sdn Bhd. EITA stands for “Electrical, IT and Automation”. Fu harboured dreams of listing his company and one of the main requirements to list is for a company to have its own unique product. In 1998, despite challenging times caused by the Asian Financial Crisis, EITA acquired a ballast manufacturer and formed another subsidiary to offer elevator supply and installation services.
As the economy improved, EITA began to thrive. This was supported by good practises that were put into place from the early days such as having regular quarterly board meetings and operating at a high level of professionalism. “EITA’s dedicated and competent team have propelled the company to what it is today. I’m indeed very proud of them. EITA employees are constantly encouraged to be independent in their work and expand their abilities,” he says. Fu places importance on staff participation in company activities to develop a strong bond of camaraderie. He also encourages EITA’s employees to undertake Corporate Social Responsibility (CSR) projects to help better the wider community. To date the company have made charitable contributions to underprivileged homes, places of worship, schools, artificial limbs centre, NGOs and many others.
At the forefront of technology
EITA achieved a major milestone on April 2012 when it became a listed company. Today the company stands proudly as the country’s only home-grown elevator manufacturer. EITA core business segments encompass Manufacturing, Marketing & Distribution, Services and High-Voltage System. “Being a relatively new player in the Lift and Excalator market, it was difficult for us to compete in terms of branding even if we have better equipment” Fu says. To overcome this, EITA looks to compete in areas that it does extremely well such as incorporating new technologies in its elevators. Leveraging on technologies such as moving a lift with a few taps on a smartphone or with facial recognition or artificial intelligence (AI) are an added convenience for people. It also gives assurances of hygiene and infection prevention. EITA is also working on remote monitoring of elevators in real time for better service response. With this, they can dispatch technicians to fix or maintain the elevators before a problem occurs. “These are not new technologies but we would like to be at the forefront in terms of application,” says Fu.
This is in line with one of his business philosophies which is “continuous innovation and improvement”. He is a keen advocate on EITA investing in R&D to drive product innovation, improvement and quality. The company’s R&D efforts are also geared towards developing more sustainable, eco-friendly products through an improved design which reduces the use of material, incorporates power saving features and generates cost-savings. These efforts have supported EITA in attaining international accreditation, product certifications and awards. Now EITA is fast-gaining recognition and competing effectively against global players. EITA also incorporated a subsidiary, EITA Training Centre Sdn Bhd to provide industrial-based training focussed on the elevator sector. Starting off with only four employees in 1996, EITA has grown to be a leading supplier to electrical contractors, switchboard fabricators and OEMs (original equipment manufacturers) as well as an accomplished manufacturer of elevator systems and busduct systems. EITA has also expanded its business operations to Asian countries. With dedication to customer service, development of innovative solutions and creation of new products and services, EITA is well poised for greater participation in foreign markets and in Malaysia’s development in the coming years.
