Author: Zuraidah Omar
Publisher: UMW Holdings Berhad, 2008
ISBN: 98342311
Call Number: 338.47 ZUR
“Turning Points: The UMW Story” by Zuraidah Omar traces the journey of UMW Holdings Berhad, a prominent Malaysian conglomerate, from its humble beginnings to its position as a major player in the nation’s economy. The book takes readers through key turning points that shaped the company’s evolution, offering insights into:
Early days: Starting as a small spare parts shop in the 1950s, UMW’s entrepreneurial spirit and adaptability to Malaysia’s emerging industrial landscape are highlighted. The role of founder, Tan Sri Datuk Eric Chia, in laying the foundation and navigating early challenges is emphasized.
Growth and diversification: The book chronicles UMW’s aggressive expansion throughout the 1960s and 70s, venturing into sectors like engineering, automotive, and agriculture. It explores both the successes of this period, such as establishing key partnerships and securing major contracts, as well as the consequences of rapid growth, including financial strain and internal inefficiencies.
Transformation and consolidation: Facing various internal and external pressures in the 1980s and 90s, UMW underwent a necessary shift towards a more disciplined and professional management style. The book details the process of restructuring, streamlining operations, and focusing on core competencies to ensure the company’s long-term sustainability.
Present and future: “Turning Points” brings readers up to date with UMW’s current position as a diversified and successful corporation, operating across various industries and contributing significantly to Malaysia’s economic development. It also touches upon the company’s ongoing challenges and future aspirations.
Beyond the company: The book’s narrative is interwoven with the broader context of Malaysia’s political and economic developments, showcasing how UMW’s trajectory has been intertwined with the nation’s growth and transformation.
Overall, “Turning Points: The UMW Story” offers a comprehensive and engaging account of a remarkable Malaysian business success story, providing valuable lessons in entrepreneurship, resilience, and adaptation for readers interested in business history, leadership, and the development of Malaysia.
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