Early Life
Yao Hsiao Tung was born in China in 1939. At the age of six, his family moved to Taiwan. Growing up during World War II, Yao experienced poverty and hardship, which instilled in him a strong sense of perseverance and determination. He moved to Singapore in 1978 after being transferred by his employer, DuPont.
Rise to Success
In 1983, Yao left DuPont and took over the management of Hi-P International, which began as a metal forming toolmaker. Under his leadership, the company expanded and became a major contract manufacturer. A key turning point came in 1992 when Yao decided to set up a factory in Shanghai, capitalizing on lower labor costs. Hi-P was listed on the Singapore Exchange in 2003, and delisted in 2021. In 2017, Yao bought out Molex's stake in Hi-P. In 2024, Temasek-backed 65 Equity Partners invested S$100 million ($74 million) in the company.
Key Business Strategies
Yao's management philosophy emphasizes delegation with control. He is also known for his strategic vision and has been instrumental in transforming Hi-P from a small toolmaker into a global contract manufacturer. Key clients include major companies such as Apple, Dyson and Amazon. Yao has been focused on adapting his company to the changing world markets and planning to relist Hi-P by 2030, with the ambition to increase Hi-P's revenue eightfold between 2025 and 2030.
Philanthropy
Yao believes in giving back to the society through Hi-P's CSR initiatives.