Choon Heng Logistics

Founded in 1981 in Singapore, Choon Heng Logistics has had over 38 years of experience in transportation services in the country. They are a modern, vision-driven, and rapidly developing group of companies. Being the prime mover in Singapore, they offer a wide range of logistical services to meet the complex needs of the most innovative and sophisticated companies. Choon Heng Logistics is one of the few “holistic logistic solution providers” for all transportation, logistics and supply chain requirements.

The Brief

Choon Heng Logistics approached us with the need to recruit a permanent Group Finance Director to replace an underperforming executive at a time when the business was facing severe disruptions in their operation caused by Covid-19.

Our Method

Up to that point, the business had made a number of strategic acquisitions but the integration of those businesses had been tempered through poor decision making.

1. The most important requirement was that the incoming Group Finance Director would develop and drive a new strategy to ensure the expanded business delivered efficiencies and created a comprehensive financial restructure plan..

2. While doing research on the potential candidate, our team looked for an interim executive to support the incumbent Group Finance Director to provide some much needed stability and focus on ensuring the finance infrastructure was sound, robust and fit for purpose.

The Result

After the new candidate passed all the assessments and accepted to the role, the interim executive was requested to continue working alongside the new Group Finance Director to ensure a smooth transition. The new Financial Director was considered a huge recruitment success because after 6 months, he:

1. Directed all financial activities to maintain organizational vision and value; delivered transformation in the executive teams’ confidence level with regards to financial and business practices of the Choon Heng Logistics.

2. Identified key loss-making contracts and highlighted risk areas which were now being addressed; recommended operational changes that re-focused the business on cash generation and profit drivers to create shareholder value.

3. Implemented a cost-cutting program which helped secure significant savings for the business.

4. Made operational structure recommendations to de-risk the business providing a platform for future growth.

5. Played integral role establishing financial best practices, SOPs for easy handoff to new Group Finance Director.