PETALING JAYA: Entering a new market is never an easy feat for any company, and it is no different for YSP Southeast Asia Holding Bhd (YSPSAH).
However, after hard work and perseverance, the company, from its humble beginnings in 1987 when it was just a small-scale medicine retailer, has grown to become a leading pharmaceutical company in Malaysia.
President and group managing director Datuk Dr Lee Fang Hsin (pix) told theSun YSPSAH started as a family business.
“I am the youngest in my family and have four elder brothers and two older sisters. Naturally, I had to venture out of Taiwan if I wanted to start my own business,” he said.
Lee added that it was also during that time when the New Taiwan dollar dropped by 2.3% against the US dollar, and most people were encouraged to take their businesses overseas.
“The first choice was to start up in the Philippines because it was closer to Taiwan. But we eventually decided to come to Malaysia. I am very happy that I made that decision.
“I am not English educated. Hence, I couldn’t venture into a predominantly English-speaking market.
“But in Malaysia, some people speak Mandarin, which is easier for me. Also, when you start a company, you would have multiple documents to file and sign. If a language barrier exists, it would be difficult to go through the process,” he said, adding that Malaysia’s trade industry is more open.
“We also considered Thailand before settling on Malaysia. While both countries have their pros and cons, we still leaned towards Malaysia because of how the country treats its foreign investors.”
With research-based production, YSP Malaysia produces quality tablets, capsules, suppositories and ointments.
“The products we carry include over-the-counter (OTC) items, and animal and aquacultural medicines. We constantly introduce new production technologies and develop new products. This is how we achieve sustainable management with quality products. When we first started, we were very small and operated in a shop lot. Now, we have four production sites – three in Bangi and one in Puchong.”
Lee is also a pioneer investor in Malaysia, being one of five Taiwanese who first invested in the country in 1987. However, he pointed out that unlike the rest of the investors, his focus was on the domestic market here.
He said since 1985, YSPSAH has also been exploring opportunities in the global market.
Apart from Malaysia, the company has expanded to China, the US, Hong Kong, Singapore, Thailand, Indonesia and Cambodia.
“Most recently, we expanded to Japan, Africa, New Zealand and Australia and other markets. We aim to provide safe, high-quality, effective products to all global markets through cooperation with local agents.
“In Malaysia, we focus on pharmaceutical products, while our company in Vietnam focuses more on the veterinary sector.
“This is because Malaysian halal products are widely recognised around the world.”
Lee said despite the Covid-19 pandemic, YSPSAH recorded an increase in revenue of 2% to 3%.
“We eventually reached double digits in the first quarter of this year. We currently have about 200 salesmen and 15,000 customers. We look forward to expanding more in the near future.
“By adding new products and seeing our range increase yearly, I am determined that we will achieve better growth, say to about 5% to 10%. Today, we have about 300 products in hand, which includes skincare and face masks.
“However, our main items are prescription medications, which contribute about 70% to 75% to our revenue.
“Veterinary products add another 11% to 12%, while OTC products are about 5% to 7%.”
Lee also said in the next five years, he sees stable growth occurring in Malaysia, given how well his company has been growing here.
