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A winning formula

Title: Lessons of Success: The Legacy of Tan Sri Dato Sri Dr Teh Hong Piow Author: Dr Victor S.L. Tan Publisher: Public Bank
In 2008, on occasion of Public Banks 40th anniversary, Datuk Paddy Bowie wrote an autobiography Teh Hong Piow: A Banking
Thoroughbred. That book gave some insights into how founder and chairman Tan Sri Teh Hong Piow rose from being a clerk in
Oversea Chinese Banking Corporation to become one of Malaysias most prominent bankers.
While that book delves into the life and times of Teh, this latest book Lessons of Success: The Legacy of Tan Sr Dato Sri Dr Teh
Hong Piow is about the principles he adhered to in his banking and personal life.
In the preface, KL Strategic Change Consulting Group (KLSCC) principal consultant and author Dr Victor S.L. Tan says he is
aware that ve books have been written about the banking group and its chairman.
In his book, Tan Sri Teh has allowed me to look at his extraordinary career in detail and has shared the insights and lessons of
success that he has personally practised in his 60 years in the banking industry, Tan writes.
Teh answers some questions about the objective of this latest publication and what it means to him. As the title suggests, it is
his gift to both the current and future generations.
What is your objective/s behind the book Lessons of Success?
Over the course of my career, what I have learnt is that success in life does not hinge upon getting the top grades while in
school. There are many average scorers who go on to become highly successful in their careers. In the working world, success
is far more complex. Career go-getters need to go beyond what has been taught in their formal school setting to nd their path
to success.
In this book, we have drawn from my own professional achievements and challenges to serve as a resource to those who wish
to learn from these tried and proven principles of success and readers can practise at their workplace to help them achieve
success in their career. That is the reason why we have also included a chapter on Advising the Young and Eager, which is
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aimed at guiding and inspiring the younger generation to function successfully in an increasingly competitive business
environment.
What do you hope to accomplish from the book?
Everyone has the potential to make a difference and leave an enduring legacy for both the present and future generations. As
one who believes in the power of knowledge, sharing the lessons that were instrumental in my success is something that I hope
would inspire others.
More than just an autobiography, we have geared this book towards a different approach that of the tried and proven
management principles and my life philosophies that have guided me through my journey with Public Bank. The readers will then
have to decide for themselves what are the principles or qualities that will help them achieve their own successes.
Are the strategies and there are eight a comprehensive guide, or are there any other strategies not mentioned?
It has been said that success is the sum of small efforts repeated, day in and day out. I believe that in order to succeed, you
must form the habit of following the principles that can bring about success.
The eight principles may not be exhaustive but based on my own experiences, they are the core tenets of success.
What would you like to share that is not touched upon in the book?
I would like to say that all the principles in the world would not get you anywhere without having an attitude geared towards
excellence. To succeed, you must believe in being excellent in all that you do. You need to go above and beyond do more than
what is expected of you.
Charles Kendall Adams said, No one ever attains very imminent success by simply doing what is required of him; it is the
amount and excellence of what is over and above the required that determines the greatness of ultimate distinction.
Whatever you do, do it with excellence, do it with passion and you will do well.
What are your views about the global nancial crisis we are in today and how do you think we can overcome it?
The global nancial crisis has revealed several structural weaknesses in the advanced economies, which will limit the growth of
these economies in the short to medium term. Malaysia as a open economy could be affected through the trade and investment
channels.
Malaysia has therefore focused on domestic demand to propel the Malaysian economy to ensure sustainable growth.
Favourable labour market conditions, stable in ation and continued access to nancing will continue to support private
consumption and investment activities.
Through the Economic Transformation Programme, the Government has launched a series of initiatives such as human capital
development and developing a conducive and competitive business environment to transform Malaysia into a high-income
economy and to sustain the competitiveness of the Malaysian economy. These initiatives are welcome and provide a sound
basis to revitalise the engine of growth.
Furthermore, Malaysias resilience and capacity to withstand external shocks have improved over the years, with sound
macroeconomic fundamentals, more resilient economic structure, stronger and more developed nancial system and greater
policy ef cacy and exibility.
The increased reliance on trade with regional economies will place the Malaysian economy in a better position to endure
external shocks from the advanced economies.
Also, Malaysia has been active in promoting policy surveillance and coordination with other regional economies to further
strengthen Malaysia and the regions defence mechanism against external shocks.
Tan Sri, from your plans and dreams, you have now a network. What is the next wave, growth strategy for the Public Bank Group?
The Public Bank Group will remain focused on its organic growth strategies to continue grow its retail loans, core customer
deposits and fee-based businesses.
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In particular, the groups lending business will continue to be supported by growth in home mortgages, hire purchase nancing
for passenger and commercial vehicles and retail commercial loans to small- and medium-sized enterprises (SMEs).
To enhance its pro tability, the group will further grow its fee-based activities by promoting sales of unit trust funds,
bancassurance and wealth management products. The group will also continue to expand its Islamic banking business by
focusing on Islamic consumer nancing and retail commercial nancing to SMEs. For its funding base, the group will continue to
promote core customer deposits to ensure that it continues to maintain a healthy and liquid balance sheet. Also, the group
remains committed to expanding its overseas operations, particularly the groups Hong Kong and Cambodian operations.
To sustain its strong market position, the Public Bank Group will further leverage on its wide distribution network, strong sales
and marketing force and ef cient multiple delivery channels. The group will also continue to enhance its customer relationship
management to further enhance customer experience.
In addition to providing competitive, innovative and differentiated products and services, efforts to further strengthen the groups
superior service delivery standards such as excellent customer service and fast loan processing turnaround time will continue to
be intensi ed. Investments in information and communication technology, new delivery channels and human capital will
continue to be given top priority.
While focusing on the organic growth strategy and sustaining growth of the existing businesses, the group is always open to
exploring potential opportunities which can further expand the existing network and enhance the scope of business of the
group.
Bill Gates has given up his position in Microsoft but the company is very well managed and extremely pro table. Will Public Bank
Group be using the same strategy?
The Public Bank Groups success is built over time by a team of committed and loyal staff force at all levels, aligned to a uni ed
vision and commitment to achieve excellence. As the Founder and Chairman of the Public Bank Group, I remain passionate and
committed to the Public Bank Group. I, together with the board of directors, continue to provide the strategic direction for and
oversight of the group.
The Public Bank Group has, for a long time, put in place a management succession plan.
A structured succession planning process has been established for senior management positions in all key business areas to
ensure continuity and consistent management excellence for the group.
Lessons of Success is about eight principles that Teh, 82, considers as the most important . 1) Know your purpose 2) Be
passionate about your chosen eld 3) Be people-oriented 4) Persevere against the odds 5) Be proactive in thought and action 6)
Practise professionalism 7) Maintain prudence 8) Be positive towards work and life
Lessons of Success is about eight principles that Teh, 82, considers as the most important .
1) Know your purpose
2) Be passionate about your chosen eld
3) Be people-oriented
4) Persevere against the odds
5) Be proactive in thought and action
6) Practise professionalism
7) Maintain prudence
8) Be positive towards work and life

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