Lam Hong Group Update – December 2020

15 December 2020

Dear Valued Customers, Partners, Friends and Colleagues,

 

2020 will be a year to remember. With the current uncertainties facing us, many businesses have adopted new regulatories and Lam Hong was no exception. As we continue to navigate through these difficult times, our thoughts remain with you. During this unprecedented period, we at Lam Hong have been reflecting on what’s most important to us. For us, that is family and heritage. As we anticipate a return to normality, I would like to share news of some exciting developments for the Group this year.

 

During the circuit breaker period, we were operational daily but with a reduced workforce to support essential services – Ports of Singapore. Since the onset of the pandemic, our team has gone the extra mile to ensure that our operational readiness has not been affected, given our limited manpower. We reworked parts of our operational processes to efficiently optimise workflow. The downtime has also allowed for some of our employees to receive specialised training and with us being upskilled, it ensured that we remain relevant.

 

With much of the sector’s workforce confined to dormitories during the Circuit Breaker period and construction work slowing down, the sector contracted 59.3% in Q2 2020, compared with last year. Many hardware shops and their precarious supply chains have been affected during these trying times. A new subsidiary, LH Machinery Pte Ltd was incorporated during this downturn to seize this opportunity. As an innovation-forward company, we are always excited about the future and are constantly working on new product ideas. Working alongside a team of international engineers, we have launched with an array of viable solutions under the Haosail brand.

 

We at Lam Hong plan to consolidate market-leading brands into one place with a niche focus on products that command organic demand through superior quality instead of brand premium. These horizontal integrations complement Lam Hong’s renown in the Lifting and Rigging industry and expanded our list of offerings.

 

The natural progression of our nation towards sustainability-related solutions has prompted Lam Hong to venture into several renewable energy projects, which proved to be crucial for the diversification and development of the group. We have completed the installation and commissioning of a 400kWp Solar PV System on the roof of our factory at 5 Kian Teck Drive. In tandem with the industrial landscape, Lam Hong Renewables aims to provide end-to-end engineering services in the areas of offshore renewable energy developments (Wind, Tidal and Solar projects).

 

Lam Hong Group has come a long way since its establishment in 1946. With all these exciting developments, we are also pleased to announce that Lam Hong Group will be celebrating its 75th Anniversary in 2021. As a pioneer in the field, the Group is widely recognised in the Marine & Offshore; Oil & Gas and Construction industries globally.

 

We would like to take this opportunity to thank everyone for your continued support over the years. Here’s to wishing everyone continued good health, happiness and success this Festive Season and in the coming New Year. We look forward to developing our partnership with you in the years to come.

 

Stay Safe

On behalf of Lam Hong Group

Lee Tong Yi   |   15 Dec 2020