Sino Indonesia Cultural and Economic Association (2015)

Author: Fang, Wen-chang 

"In my free time, I do not play ball or cards. I just take the factory as my home." With great perseverance and fast responsiveness, Chairman Lai has worked alongside with his wife to build up the factory with a total area of 60,000 pings at Guanyin District of Taoyuan. "Brick by brick, we have built up our factory completely from scratch." With great emotion towards his factory, Chairman Lai is committed to design efficient marketing strategies and fulfill his duty of corporate social responsibility.

Born to a farm family in the countryside of Chiayi District, Chairman Lai has located a job as the iron window apprentice as soon as he graduated from junior high school. Upon completing his military service in 1983, Chairman Lai has married his wife and built up their iron window factory together. Chairman Lai humbly explained that he is never interested in studying, "Back then, I was a naughty boy who doesn't love to study. My wife was even poorer than I was." Without a rich parent or high educational attainment, the young couple has devoted a great amount of time and effort to their business. "In the early stage of our entrepreneurship, my wife was pregnant but still has to carry our eldest daughter with her and work alongside with me." With great perseverance and fast responsiveness, the young couple has laid a solid foundation for their business.

While visiting Japan in 1986, Chairman Lai saw rows upon rows of high-rise buildings composed of H beams. He sighed, "When will we ever make a fortune by producing iron windows?" After returning back to Taiwan, he decided to invest in the steel structure which is vibration absorbing, eco-friendly, and recyclable. In 1987, he has joined venture with his friends and built up a steel & iron factory with a total of 2,300 pings at Guanyin Industrial Park. Step by step, CT has gradually grown stronger. Admitted as the only listed iron and steel company other than China Steel’s subsidiary company "China Steel Structure Corporation" by Taiwan Stock Exchange (TWSE), CT has completed several construction projects including 8-inch semiconductor fabrication plant of Taiwan Semiconductor Manufacturing Company (TSMC) and administrative building of New Taipei City Government.

With a cheerful and straightforward personality, Chairman Lai has encountered several good friends throughout his life, helping him overcome several obstacles resulted from the financial crisis. He explained that the financial problem is the biggest nightmare at the early stage of his entrepreneurship. Often, he has to rush all the way to the bank 3 o'clock in the afternoon to borrow enough money for his business.

Without rich parents or high educational background, Chairman Lai has uphold the spirit of "Taiwanese Canine" that exhibit great perseverance and responsiveness to transform challenges into opportunities. "Aside from perseverance, sensitive sense of smell is also a main characteristic of Taiwanese Canine", explained Chairman Lai, "Taiwanese Canine always knows where to find the greatest bargain." In contrast to large-scale enterprise, the greatest comparative advantage for CT lies in its fast responsiveness to market changes.

From the original iron window factory to a steel structure company, from the small-scale business to a listed company, CT has completed several steel construction projects including traditional high-rise buildings, industrial park factories, and public works. With great vertical integration capability and complete financial structure, CT is no longer just a role model for public work, factory, or high-rise buildings in Taiwan, but also an international enterprise that expand its business by investing in the offshore wind power project and establishing new factory in Myanmar.

Among offshore wind power project that worth a total of NT$480 billion, Chairman Lai has detected a hidden business opportunity of steel structure that worth a total of NT$90 billion. With great responsiveness to market condition instead of blindly following the current trend, Chairman Lai has decide to invest in the eco-friendly offshore wind power project.

While investing in the steel structure factory at Myanmar, Chairman Lai has also decided to take steady steps. Although a land with a total of 30,000 pings has been bought for the steel structure factory at the industrial park near Yangon City, the construction project of steel structure factory has been separated into different stages to avoid high risk of over investment in the initial stage of the construction project. Chairman Lai explained, "Based on the completion of the first-term factory construction project, we start out the second-term factory construction project, which in turn gives rise to the third-term factory construction project. Afterwards, we will start seeking for potential clients in the industrial park. We decide to take solid steps instead of taking high risks."

Looking back on those old days working alongside with his wife to start out their business, Chairman Lai (who was once selected as a role model for the young entrepreneurs) shared his personal experience with his peers and successors of the same professions. The key to his successful business operation is to commit to one's personal expertise, treat others with faith, and give back to the society. Chairman Lai is also thankful to his wife, children, friends, and employees who have supported him along the way. Taking his factory as his home, Chairman Lai love to drink tea and chat with his friends at his factory. Sometimes, he would even come to his factory during the Chinese New Year Holidays.

As the business continues to expand in scale, heavier corporate social responsibility also follows in. Chairman Lai never forgets to give back to his village. Aside from actively participating in social welfare services, he also provide scholarship to the local school of his hometown at Chiayi. He smiles and explained, "Although there are only approximately 10 students graduating from the elementary school of my hometown each year, I would always send them gifts such as laptop computers or bicycles." Looking at the smile spreading on the student’s face, Chairman Lai also felt warm in his heart.