Heatec Jietong is optimistic about 2018
with upcoming tenders
2 May, 2018 | Singapore | OSEA2018 Industry Insights
Having taken over the reins from his father in 2016, Heatec Jietong’s 38-year-old CEO is determined to revitalise and expand the Group’s piping and heat exchanger business.
Q: OSEA: How is 2018 looking for Heatec Jietong?
A: 2018 is proving to be a better year for HT, relative to 2017. We are fulfilling some order books and we look forward to strengthening the pipelines further with upcoming tenders.
Q: Any interesting trends you’re noticing in the industry?
A: With the market being severely battered during the downturn, the top section of value chain which are the assets owners and the EPCs had been very aggressive in their pricing. However, the lower section of the value chain which are the fabricators and suppliers had always been experiencing rising cost of production over the years. This has resulted in the imbalance of the market between expected price and cost of production.
Q : What are your thoughts on the oil and gas industry today?
A: As usual, things are still challenging. This industry is so broadly defined that each individual spectrum is different. Whether you are in the upstream, midstream or downstream; whether you are into oil or into gas or into renewables; there will always be rough patches. But there will also be green pastures available… You just need to find them.
Q: Can you share with us how your career at Heatec Jietong began?
A: I started off as a project engineer immediately after graduation and was hands-on for about a year before moving into the management planning role. Subsequently, from operations, I moved into sales. Gradually as the company grew, our marine clientele base also expanded to include oil and gas clients as well. The founders of the company decided to retire two years ago and I took over the reins in January 2016.
Q: Working your way up the ranks, were there any insights you’ve gleaned along the way?
A: You can’t do everything yourself. You need to empower your generals to make certain judgments and support them through these decisions. Also, one has to be curious enough to ask, daring enough to challenge, and humble enough to learn.
Q: On that note, have you changed Heatec Jietong’s approach to doing business in any way after taking over the reins?
A: Unfortunately, our products and services are static mechanical equipment. However, we do upgrade and automate our internal processes wherever possible.
Previously, we have always focused on marine and offshore. Now we are also trying to offer our services to onshore/downstream companies as well.
Q: What’s your proudest achievement to date?
A: While it is not so much of an achievement, one incident did make me feel proud. Once, we employed a foreign worker who had nothing to his name when he first arrived. However, at the end of his employment, he thanked me for giving him everything.
Q: What’s the best piece of advice you’ve received in the course of your career?
A : There is no permanent enemy. Disagreements are all part and parcel of doing business.
Q: Heatec Jietong will be exhibiting at OSEA2018. Able to share what Heatec Jietong will bring to the table, and reasons for taking part?
A: Heatec Jietong has been participating in the last few editions of OSEA under the Singapore Pavilion. OSEA has always provided Heatec with the necessary market and industry exposure – I am confident that OSEA2018 will be successful as well.
Q: Moving forward, how does Heatec Jietong plan to stay ahead of its game?
A: Heatec will continue to capitalise on our strengths. We offer a complete range of services for our clients, and we are a one-stop solution for heat transfer needs – including design, manufacturing and refurbishment works. Concurrently, we will also continue to look for partnership in other markets, including onshore and overseas opportunities.
Check out Heatec Jietong at OSEA2018 from 27-29 November 2018, Marina Bay Sands, Singapore!
Click here to view OSEA’s exhibit/visitor profile.