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SCMP Reporter

CLARENCE Wong Wing-wah, who founded his company Gilbert Holdings in 1984 when he was 28, has won the Young Entrepreneur Award organised by DHL International and the South China Morning Post.

The winner of the award was selected for showing outstanding talent, managerial skills and innovation.

 Mr Wong is chairman and managing director of Gilbert, which sources flax from France and Belgium for spinning factories in China's Heilongjiang province and eventual use in such leading fashion brands as Gap, Esprit, DKNY and Calvin Klein.

 The group diversified into trading of plastic materials for textile and garments in 1991 and established a factory in Fujian province this year to recycle polyester.

 Mr Wong expects profit to double this year and plans to further trim costs by establishing a plant in China with the funds raised from the flotation of his company in October.

 The group is looking to diversify trading into plastic materials and develop flax by-products.

The winner of the Executive of the Year Award was Patrick Wang Shui-chung, chief executive and managing director of Johnson Electric Industrial Manufacturing.

 The group is the world's second largest producer of micromotors, used in home appliances and electric systems in cars.

  The company has instituted an aggressive expansion programme which has resulted in the establishment of a network of design centres covering major European and US markets.

 With a turnover of HK$1.9 billion and net profit of $338.7 million in the year ended March, the group has spent $400 million on research and development.

 The company won the 1994 Governor's Award for Industry and the Trade Development Council's Export Marketing Award.

 The Executive Award is evaluated on an outstanding contribution to the financial success and harmonious operation of a company with a turnover of more than HK$500 million.

 In the International Award category, given to a company which has done the most to enhance the territory's international reputation, the winner was Lee Kum Kee Co.

 The company was selected for promoting and penetrating the sauces market around the world.

 Lee Kum Kee has been in business for 107 years, selling more than 60 types of sauces and condiments to 60 countries.

 Its annual sales have exceeded US$100 million. Sales outside Hong Kong have grown about 207 per cent since 1991.

 The United States is its largest market, accounting for 35 per cent of sales last year while Asia made up 24 per cent.

 The company won this year's Trade Development Council's Award for Industry in Export Marketing and the ISO 9002 quality control status.

   Within the International Award category, a Certificate of Excellence was given to VTech Holdings for becoming one of the world's most comprehensive consumer electronics businesses.

 The company started in 1976 as a small manufacturer of single-chip microprocessor video games.

 Its electronic learning aids are now ranked number one in both the US and Britain.

 With operations in 58 countries, the company has built a US$500 million business in manufacturing and marketing personal computers, electronic toys and games and telecommunications products.

   The Enterprise Trophy went to Astron Group, which manufactures computer circuit boards and sells high-technology products to such companies as Siemens, Boeing and BMW.

 Chairman Stephen Rees took control of the loss-making firm in 1991 when its return on sales was negative 20 per cent. It had no focus and no research and development, and a negative net asset value of HK$10 million.

 Since then, he has transformed the firm into a thriving concern which now employs 400 people in its Hong Kong plant and 200 people in its China factory, where HK$120 million has been spent on the highest class printed circuit board/hybrid plant in southern China.

 Last year, the company increased its profit by more than 207 per cent.

  It plans to float on the Nasdaq Stock Market in the US next year.



Gilbert founder wins Young Entrepreneur Award