Dr Wilfred Wong, President of SCL, poses with Stanley Lo, director of Ocean Pride Food, who is pictured (right) at work
A local micro-enterprise has seen a nearly 20 percent increase in its annual sales turnover following its contracts with Sands China.
Ocean Pride Food Company is one of the many micro-enterprises that participated in Sands China’s Local Supplier Support Program in 2015 – a program in line with the government’s initiative to “buy local.”
As the program demonstrates Sands China’s commitment to supporting local enterprises as part of the company’s corporate social responsibility efforts, Ocean Pride Food has seen a steady growth in its sales after its continuous partnership with Sands China.
The local enterprise currently supplies frozen commodities to the integrated resort including meat and seafood, along with dairy products.
Stanley Lo, director of Ocean Pride Food remarked that Sands China quickly placed an order totaling some MOP600,000 after learning about the enterprise and its food hygiene processes.
Stanley initially planned to supply local restaurants yet bravely targeted gaming operators when Sands China launched its SME program.
“Our target was to supply some restaurants. Luckily I saw Sands China’s SME programs on the website so I joined,” Lo recalled.
The director is also grateful to the local government for helping SMEs launch businesses.
“When we started the company, we depended on local restaurants and supermarkets to stabilize our daily operations. Luckily, Sands China’s SME program helps us build up the business more easily,” he said.
Along with government policy, the Sands China’s SME program has contributed to the development of local SMEs including ‘Made in Macao’ products and young entrepreneurs. These elements are part of SCL’s supplier relationship management strategy.
Ocean Pride Food started its partnership with Sands China after it submitted competitive product pricing to the gaming operator.
Thus, according to Lo, the company saw stable growth in the firm’s annual sales once the partnership commenced.
Lo also noted that each contract is valid for some 6 to 12 months, which has resulted in being able to present much more competitive pricing to the gaming operator as it enabled the firm to gain longer term volume discounts from its own suppliers.
“Luckily the contracts are not only for one month so I will have this [client] to provide to for a period of time,” Lo remarked.
“Due to these contracts, we also get the best price from our suppliers which also adds to our profitability,” the director continued.
Meanwhile, the micro company – currently employing six staff – noted how beneficial the SME program is for Sands China as it contributed to the growth of its stakeholders.
According to Lo, as Sands China prioritizes local SMEs, it assists them in becoming more competitive in the local market.
“With the SME program, there is a higher chance of staying in business for a longer time because the procurement team [of Sands China] prioritizes local SMEs,” Lo shared.
“Since Sands China prioritizes the SMEs, it also helped us to cooperate with other hotels and gaming operators, and gave us a higher credibility,” he added.
Meanwhile the entrepreneur shared that he has participated in the new Sands China Procurement Academy in a bid to develop his business knowledge and skills to assist him in gaining experience.
Joining the program, local entrepreneurs can increase their capacity for working with large-scale international clients such as Sands China, as it provides tailor-made practical training modules to local SMEs including micro-enterprises, young entrepreneurs, and “Made-in-Macao” enterprises.
“Sands China’s F.I.T. program helps me improve my knowledge on purchasing and how to communicate with Sands China and other hotels,” said the entrepreneur, noting that it will be both beneficial for him and his company’s overall growth.
The director acknowledged that Sands China has given his company the credibility which has opened up opportunities to supply other gaming operators. Lo remarked that he is keen to join other programs that Sands China may initiate with local suppliers.
With the expansion of the business, Ocean Pride Food has recently acquired a larger office and will move to its new site soon, recognizing Sands China for its continuous support of local SMEs and young entrepreneurs including Lo.
“I will join a food safety program or other programs for the company [Sands China] to learn about how our company is doing and [set] safety measures for our food business,” said the entrepreneur.
Lo cited his belief that the knowledge and other skills he is learning through the SME program can be used as a basepoint to supply other gaming operators and hotels, allowing the company to further boost its local sales.
Further, the director also said that he is interested in joining Sands China Young Entrepreneur Advance Payment Program.
The program is being created to help local young entrepreneurs who have limited financial capacity to run their business.
It targets young Macau entrepreneurs with a staff of 15 or fewer, providing them with a 30 percent advance payment on purchase orders.
As a young entrepreneur, Lo acknowledged that working capital has always been an issue, particularly when its clients place orders in bulk.
Thus the financial support of Sands China would assist the micro-enterprise in easing its cash flow, allowing Ocean Pride Food to continually acquire clients without being troubled by its capital situation.
With the move to a larger office, Lo is optimistic that they will be able to expand their product range and would also be able to sell processed goods.
Despite market competition, the entrepreneur is quietly confident that its partnership with Sands China will contribute to its continued expansion.
This article was sponsored by Sands China Ltd.
No Comments