Facing The Sunset Industry
Progress towards the present day has not been easy sailing, as the manufacturing industry is inextricably linked to other cyclical trades. It faced its biggest challenges during the world recession of the mid-1980s, the Asian financial crisis of 1997, and the global financial crisis of 2008 – periods that remain etched in the industry’s collective memory as dark times.
During the prolonged slump(s), all sectors of the industry were affected, and the company’s resilience tested. Industry observers, including government officials, labelled the industry as ‘sunset’ – a stigma which dogged the industry for over two decades in spite of its continuing contributions to the economy.
Future forward
Through it all, Sin Cheong remained steadfast; navigating and adapting through the ever evolving and competitive global market.
In recent years, by mounting an all-out effort to counter waste, updating facilities, and advocating green manufacturing initiatives, the company became leaner and fitter, making it better placed to capitalise on the next upturn.
As Deputy Managing Director, Betty Tan puts it, “The resolution of our directors, their willingness to restructure, to make hard decisions, to implement tough changes, and to adapt to the changing market environment brings about continued success for the company.”
Faithful for THe Sunrise
Sin Cheong currently works closely with key government agencies, various associations and other industry members to formulate initiatives to strengthen the industry’s competitiveness, and forge a new industrial future as we keep faith with our core values.