Dr Renco Yong talked on contemporary business issues to KLT’s business students

About 32 Business Management students from Kolej Laila Taib (KLT) attended a talk by Dr Renco Yong on 13th December 2019. The objective of the talk was to share with the students about the contemporary issues in the real business world and how should the students apply their theoretical knowledge in the industry.

Dr Renco Yong has been appointed as industrial advisor of Kolej Laila Taib for Business Management Programme effective from 1st July 2019, to assist in the development of KLT’s Business Management Diploma Programme to be in line with national economic transformation programme. Dr Renco Yong is the executive director of GIMHWAK Enterprise Sdn. Bhd., and he is also the president at Sarawak Association of Maritime Industries (SAMIN). He is the founder and president of Sibu Chinese Chamber Commerce and Industry (SCCCI) Young Entrepreneur Committee (YEC), and advisory council member of UCTS as well.

During the talk, Dr Renco Yong advised the students to understand their ability, recognize their strength and then fully utilize their capability to achieve the best result. Choosing a right team member is very important. He encouraged students to mix with different team members during their college project or assignment, so that they get to know how to handle different character and personality while working together.

According to Dr Renco Yong, many businesses nowadays are thinking of having partnership, merging or consolidation to resolve issues of shortage, such as capital resources, finance, human capacity and technical knowledge.

Dr Renco used some simple examples to explain complex business knowledge and model to students. He further mentioned that it is important to study and understand your business partner and buyers’ behavior in order to find the best solution to sustain and excel the business.

He finds that Sibu is a wonderful place for young entrepreneurs to start up their business with minimum capital investment, because it is less competitive and possesses many resources, especially with the full support from association and government.

At the end of the talk, he hoped to see more young graduates staying in Sibu and make Sibu a more comfortable and livable city.