KOTA KINABALU: Twenty-three years ago, Datuk Dexter Lau was just starting out or ‘novice’ in the business realm.
Now, through years of gaining valuable experience in both business and leadership, he has emerged as a leading contender for the presidency of the Malaysia-China Chamber of Commerce (MCCC) Sabah Branch, with elections scheduled for May this year.
Datuk Dexter Lau aims to steer MCCC Sabah towards a more dynamic and competitive future.
However, few are aware of his modest beginnings in the business sector with Kim Teck Cheong Consolidated Berhad (KTC).
As the Chief Executive Officer (CEO) of KTC, Datuk Dexter Lau has been instrumental in the company’s achievements, including its transition to a publicly listed entity.
The 46-year old CEO earned his Bachelor of Laws (LLB Hons.) from the University of Kent in Canterbury, United Kingdom, before being called to the Bar as a qualified barrister at Lincoln’s Inn in London.
He is the son of Datuk Lau Kok Sing, the current Managing Director of KTC, and Datin Lim Su Chin.
Datuk Dexter Lau is married to Datin Yee Tsai Siew, and they have a son and two daughters together.
As the eldest son and grandson of the Lau family, Dexter joined the family business, KTC, in 2003.
In what is seen as the turn of fortune, the 87-year-old company posted an annual revenue standing at RM1.1 billion this year, which is 30 times the revenue size than what was recorded by the company 20 years ago.
Datuk Dexter Lau was recently interviewed by the Jesselton Times, discussing the remarkable growth of the family business, KTC. These valuable experiences would be instrumental if he were entrusted with the leadership of the MCCC.
Touching on his vision for the future of the company, Datuk Dexter Lau stated that he plans to establish a definitive direction for KTC over the next 5 to 10 years.
“This will require an assessment of our existing capabilities and resources to identify how we can realise that vision.
“Following this, I will detail the necessary steps for execution to ensure alignment with this vision. A comprehensive understanding is vital for boosting productivity,” he explained.
Datuk Dexter Lau envisions KTC transforming into a conglomerate, which involves incorporating various industries into the company’s operations.
Drawing from his 23 years of business experience, he noted that motivational drivers differ among generations—Generation X, Y, and Z—and these drivers are constantly changing.
A key aspect is making sure that the vision is both clear and comprehensible.
“It is crucial to effectively communicate this vision to your team and the entire organization,” he emphasised.
Regarding the challenges the company faces, Datuk Dexter Lau identified attracting and retaining talent as the most significant issue.
“To effectively draw in talent, having a well-defined vision is vital. It’s important to assess the skills and competencies that exist within your current workforce.
“This evaluation enables the appropriate assignment of individuals to the right positions,” he noted.
When asked to explain how he measures success in his role as CEO, Datuk Dexter Lau stated that he evaluates his success based on the accomplishments of his team.
“I recognize that with a skilled team, the key performance indicators are relatively modest, yet I concentrate on the level of success and revenue I can achieve with these limited resources.
“Ultimately, my focus is on the business, which is fundamentally about profit and profitability—these are the key metrics we emphasize.
“Moreover, it’s crucial to examine the performance of other companies. If competitors are achieving substantial profits with fewer employees, there are important insights to be gained,” he remarked.
In a business environment, setbacks are inevitable, and Datuk Dexter Lau identified one of his most notable failures as his failure to listen effectively.
“This deficiency in attentiveness, coupled with a stern demeanor, obstructed my capacity to properly assess the condition of my organization.
“This experience remains one of my key weaknesses. Nevertheless, I have gained insights from it and progressed. It has served as an important lesson during my 23 years of leading my company,” he remarked.
As the CEO, Datuk Dexter Lau emphasised that there are moments when he must make critical decisions that benefit the company.
“Every choice you make is significant and should be in harmony with your overall vision.
“It is crucial to consistently review the relevance of that vision over time and to emphasize long-term impacts in your decision-making,” he stated.
Datuk Dexter Lau reiterated that each decision holds importance and should align with a broader vision.
“It is vital to frequently evaluate the ongoing significance of that vision and to concentrate on long-term effects when making decisions.”
“As a CEO, you will face numerous important decisions, including those that may seem minor,” he added.
When discussing the key to success in business, Datuk Dexter Lau emphasised that it hinges on commitment, perseverance, and a deep knowledge of your industry. These attributes are crucial for achieving success in the business landscape.
Regarding the future of the economy and business in Sabah, Datuk Dexter Lau expressed optimism about the economic prospects, especially for both the nation and the state of Sabah.
“At present, we are confronted with challenges that are outside our influence as corporations and businesses.
“The political landscape significantly impacts overall sentiment,” he noted.
