Recently The Star featured a story about a very interesting company, a USB Drive company, based in Taiwan. That company name is Phison Electronics Corp and it is a public listed company in Taiwan that is valued at Rm 4.3 Billion. This company was started by Pua Khein Seng who hails from Selangor. This 35 year old graduate from National Chiao Tung University worked part time support himself while he was still a student.
USB Drive Creator beaming with hope overseas
According to reports, his original intentions was to come back to Malaysia after graduate and start his career as an engineer in Malaysia, however he took up a job as a researcher for his professor/mentor’s company and remained in Taiwan.
Nevertheless one thing led to another and the company did not really take off which opened up the opportunity for Pua to start off his own company with 4 friends. They took letters from each of their name and came up with Phison. It took them 6 month and a raised investment of NT6 Million to come out with their first product which is the USB Card Reader.
A year later in 2001, he was approached by an Australian customer to come up with a USB drive which runs on a single chip and that product ultimately led to Phison growth to a company with 35% market share in pen drive and memory controller globally in 2008.
However, as any good entrepreneurial story, things are not as easy as it seems. After a short while operating Phison, Pua was sued by his former mentor and former boss for stealing trade secrets in the previous company he was involved. A court order was issued to freeze NT45 million cash reserve for the company which forced Phison, the USB Drive company to almost shut down.
Pua was determined and fought back with court appeals. The two companies reached a settlement of NT 3Million and in the process loosing one of his closest mentor. Pua mention in an article in a Taiwanese magazine , because of his experience in battling in court, he will not give up. He is willing to face any competition out there by whatever means possible such as under cutting the competitions which Phison is infamous for.
Note: For claims that Pua didn’t managed to enter a local public university from sites such as cheehoong.com, lowyat.net and many more, we did not manage to dig out any proof to show if that is true or otherwise. One thing for sure, the few qualities which we think contributed to Pua’s success is being resourceful, tenacious and being hardworking as he claimed to have worked around 15 hours a day before he got married.
As their site is down, we took a snapshot of the company according to Google Finance
Phison Electronics Corp. is principally engaged in the manufacture, development and sale of flash card readers and flash memory controller chips. Other than the USB Drive, the Company offers four categories of products: universal serial bus (USB) mobile disk flash controller chips and system products; flash memory controller chips and flash memory cards, including secure digital (SD) cards, microSD cards and compact flash (CF) cards; reader controller chips and appliance products, and solid disc controller chips and appliance products. During the year ended December 31, 2008, the Company obtained approximately 54.86%, 32.09% and 12.35% of its total revenue from flash drives, integrated circuits (ICs) and flash memory controller chips, respectively. The Company distributes its products in the domestic market and to overseas markets.
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