Early Life
Koon Poh Ming, along with his brothers, embarked on an entrepreneurial journey in the mid-1980s. Malaysia was in a recession at the time, and job opportunities were scarce. Undeterred by the economic climate, the Koon brothers pooled $50,000 to start an aluminum-extruding company.
Rise to Success
The brothers' early venture, Press Metal, began in a rented factory. Through strategic decisions and hard work, they grew the company into a significant player in the aluminum industry. Press Metal is now Southeast Asia's largest integrated aluminum producer, competing with major international firms. The company's success is attributed to securing low-cost power through a long-term contract with Sarawak Energy Berhad.
Key Business Strategies
A key strategy for Press Metal was expanding its operations. In 1999, the company began exporting aluminum extrusion materials to the UK. In 2005, they expanded to Guangzhou, China, establishing an aluminum extrusions factory. Press Metal moved upstream in 2008 by building the first aluminum smelter in Malaysia. Their focus on efficient operations and strategic expansion has enabled them to maintain a competitive edge in the global market.
Philanthropy
While specific amounts are unavailable, the Koon family's wealth has enabled them to contribute to various charitable causes through the family-owned company. Further details on specific initiatives are not available.