Xin Networks was featured in The Business Time on 28th Mar 2017
Being a relatively young company, Xin Networks says that it is delighted to break into the SME 1000 ranking. “Though we are now positioned very far from the top ranking that gives us a lot of room for improvement. Besides growing our core business, we intend to diversify to capture new markets,” says Mr Chai Yeong, managing director, Xin Networks Pte Ltd.
“By offering new products and services to our existing clients, we aim to improve the top line. Bottom line can be improved by reducing costs through fine tuning our internal processes and increasing productivity,” he adds.
Xin Networks occupies a unique niche in the structuring cabling industry, providing design, supply, implementation and project management of network and communication cabling infrastructure solutions.
“Covering major markets throughout the region – with a Southeast Asian HQ in Singapore and a North Asian HQ positioned in Hong Kong, and having our own offices in many cities in Asia, the company serves both the public and private sectors,” says Mr Chai.
Despite being in a very competitive landscape, Xin Networks’ clients’ base has continued to expand in recent years. In 2015, the company won a Top 10 Special Achievement Award for “Quality ICT Solutions” given by Promising SME 500.
Mr Chai says the ranking done by DP Information Group every year is important as it has three decades of ranking experience on the Singapore corporate sector and is the country’s trusted credit information bureau. “We understand that it is the only national ranking of top corporations and small and medium enterprises (SMEs) based solely on annual audited financials. We believe that the S1000 and SME 1000 family of rankings is a well regarded corporate accolade.”
He believes that being ranked is a good indicator of his company’s healthy financial performance and strong commitment in the business. “This ranking is an explicit endorsement to our clients and business partners that Xin Networks is a steadfast company with good credentials. It also serves as an inspiring motivation for our company to continuously sharpen our competitive edge and achieve exponential growth by staying resilient, innovative and productive,” he adds.
For growing the business going forward, the company has identified a few directions.
“Firstly, we are adapting to market conditions such as moving to new trends and technology. We are keeping in steps with new trends and embracing innovation in our business,” says Mr Chai.
Another step is to scale up, transform and expand. In these recent years, efforts have been stepped up to expand the company’s presence to new geographies. “We are looking at business potential and expansion to other cities in Asia, he adds.
The third direction is to capture new markets and venture into new business avenues. “For this, we are constantly on the lookout for services and businesses to enhance our core business offering to our clients as well as to open doors to new business. We are also seeking new business ventures,” says Mr Chai.