08 Mar '11, 2am

Ambitious SME forced to think small

Ambitious SME forced to think small

Mr Lee Chak Meng, managing director of WEC Engineers and Constructors, says he lost a US$20 million (S$25 million) project in India last year because his company could not get funding in time. -- BT FILE PHOTO View more photos WATCHING your rivals grow faster and expand more aggressively may be galling for some bosses but for Mr Lee Chak Meng, it has become a sad reality. The reason: his WEC Engineers and Constructors has had to pass up the opportunity to bid for mega projects - and go for smaller ones instead - because of its inability to get funding. 'Even after the recession, it is still difficult to get funding for projects, especially for a medium-sized firm going overseas,' said Mr Lee, WEC's managing director. 'As such, we've had to give up on some projects or bid for smaller ones.' His firm was in the running to build a fuel system in India last year, a project tha...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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