Twin business model strategy upholds GSS Energy’s growth potential
Established in 1979 as Giken Sakata, the Singapore Exchange-listed company serves mostly tier 1 clients from the consumer electronics, automotive, medical, industrial and gaming industries through its various subsidiaries
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Foresight and diversity have always encompassed GSS Energy’s business strategies. Comprising two business divisions, the company has anticipated the needs of oil and gas majors and original equipment manufacturers while its dual-pronged approach has
been instrumental in managing challenging times.
As a result, GSS Energy can efficiently serve the latest demands of leading players in the oil and gas and precision engineering sectors today.
“We try to align ourselves internally, foreseeing what the customers will need in the future,” says Sydney Yeung, GSS Energy group CEO. “From manpower and recruiting to manufacturing areas, we invest in the proper machinery to potentially serve a new product or segment.”
GSS Energy’s growth potential in the oil and gas sector is upheld by its operation cooperation contract or Kontrak Kerja Sama Operasi project in the Trembul area in central Java, Indonesia. The Trembul agreement was signed in November last year.
Operating on a cost-recovery regime, GSS Energy continues to exercise prudence in its activities ensuring its drilling, production and lifting costs are kept to a minimum. The company has also cultivated good relationships with related parties to understand the area’s policies and environment, and to ensure compliance with local laws and requirements.
“Investing in oil and gas is a long process,” Yeung says. “It’s important to have a good team of specialists who are able to implement a good strategy. We have that, and we work strategically so that we are not easily influenced by changing macro environmental conditions.”
Complementing GSS Energy’s oil and gas business are the company’s precision engineering facilities in Singapore, Indonesia and China. Established in 1979 as Giken Sakata, the Singapore Exchange-listed company serves mostly tier 1 clients from the consumer electronics, automotive, medical, industrial and gaming industries through its various subsidiaries. GSS Energy’s factories focus on box-build assembly services, precision injection moulding, printed circuit board assembly and precision shafts and machining capabilities.
With a good grasp of global markets, GSS Energy continues to expand as it diversifies its manufacturing business, and forms partnerships with industry peers and clients.
“We will continue to invest in the future, and we’re looking at many more years ahead,” Yeung says. “As an innovator, we listen to our clients, colleagues and associates, and we also invest in human capital. We constantly strive to be a market leader to ensure that we are moving forward with the world. That has always been our mindset.”