Enriching careers and contributing to the success of businesses
Kent Teo, Finance Director, Direct Motor Interests, started his career with Jardine Cycle & Carriage (“JC&C”) in 2013 after close to eight years in the professional services industry. He is now Finance Director, Direct Motor Interests (“DMI”) at JC&C. Kent has been instrumental in supporting business transformation, driving overall operational efficiencies, as well as strengthening core functions under his remit since he joined.
In the first of our People Development series, Kent shares his thoughts on the journey so far and discusses how JC&C’s strong talent pool benefits our portfolio companies while providing rewarding and enriching career opportunities to our employees.
JC&C: Talk us through your journey with Jardines.
Kent Teo: I received the call from Jardines in 2013 to join their Corporate Finance Manager (“CFM”) programme and learnt that the programme provides individuals with the opportunity of gaining direct exposure to commercial businesses within the group in Asia. That was just what I was looking for.
I spent the first two years at the JC&C head office working directly with the senior management team. Two years later, I was posted to Indonesia for my first commercial role as the CFO of Tunas Ridean, a listed company and one of the biggest automotive dealer groups in Indonesia. From the moment I landed, I had to quickly adapt to the local environment and culture, their ways of working and finding ways for me to bring value as a representative of Jardines.
Four years in, I was called back to the JC&C head office, as part of the new set up under DMI, and to assume the role of Finance Director. My training, experience and understanding of the industry through the CFM programme and Tunas Ridean, both commercially and financially, have prepared me well for the regional Southeast Asia role and this position gives me a platform to contribute new ideas and thinking.
JC&C: Share with us some of the key highlights and challenges.
Kent Teo: One of the key highlights of my career was helping to set up the digital team for Tunas Ridean which was a function that did not existed previously. The challenge we observed was that local companies were too domestically focused, and we saw an opportunity to add value by connecting and up-skilling the local teams. Through the DMI team, with Singapore at its centre, it is now possible for Tunas Ridean to gain exposure to regional market environments, leveraging best-in-class skills and innovations that come with it. In conjunction with the setup of DMI at JC&C in 2017, we now have access to the expertise and resources. We hit the ground running very quickly and that was something that our local partners truly appreciated as well.
Another highlight of my career has been the opportunity to initiate the valuable collaboration with Grab while at Tunas Ridean. We were able to collaborate and provide a holistic package to Grab in its early days, addressing the pain points in sourcing and maintaining the growing fleet of vehicles. Most importantly, we managed to secure a financing partnership with an international bank. This partnership eventually grew to become a significant revenue contributor for Tunas Ridean.
More personally, something that I am encouraged by and feel very strongly about is the development of my people skills. The biggest change can come from people’s mindset, which determines one’s willingness to be flexible and challenge the status quo. The CFM programme has accelerated my career progression and has led to some incredible opportunities within the Group. The exposure that I have had to different categories of stakeholders across the region has provided me with many valuable experiences, building my credibility, negotiating skills and allowing others to place trust in me and my capabilities.
JC&C: How has your experience shaped your skillset and expertise ahead of your return to JC&C in 2019?
Kent Teo: When I first received the call in 2019 for the return to Singapore, I was told to define the role as I saw fit, building on my expertise in financial oversight, my experience at Tunas Ridean and my understanding of the industry. So that was exactly what I did. The regional role means that I have to put on multiple hats to understand the different markets, environments and challenges.
I come from a financial background, so I place a lot of value on technical skills. My experience at Tunas Ridean gave me significant exposure to the commercial environment and that has sharpened my business acumen. I am truly grateful for this opportunity and exposure – besides engaging with different stakeholders, I had the chance to work with a team of 300 on the ground, learning the business and the culture.
The ability to build trust and strengthen relationships is a valuable one, and it comes from understanding the needs of the people you are working with, the clients you are serving, as well as their respective environments.
JC&C: Over the years, JC&C has moved executives across portfolio companies. How does this benefit individuals and the companies?
Kent Teo: The success of Southeast Asia within our wider regional portfolio is important to us. Since I joined JC&C, I have seen an overall shift in mindset of how local portfolio companies welcome our inputs. We do not want to be a passive investor, nor just a financial investor. Today, we proactively look for ways to illustrate our value and create the sense of excellence and better collaborate with the businesses.
On a more personal level and as an individual who has had the benefit of upskilling through moving around different roles and geographies, it has been an eye-opening and enriching experience. Starting from the training on the CFM programme through to the diverse opportunities within the Group, individuals can develop their leadership skills and gain meaningful market experiences, which in turn benefits our portfolio companies who recognise the value we add, and this increases the trust and confidence they have in our people. It is a virtuous cycle and a process of continuous learning and growth that follows you through to your next role.