The Big Turnaround Story

Sources: yoursuccessourstory.com

This story is about Annas bin Ahmad, of how he remarkably took over a company that was losing money to the tune of more than an accumulated RM40 million and within a few short years completely wiped out the deficit and turned the company into a profit generating giant.

Annas started young and small. He grew up in a family of moderate means, the third child of four to a hardworking clerical worker and their supportive mother who stayed at home to take care of the family. Annas recalled once as a child being asked to buy a book for school, he had quietly inspected his father’s wallet, when he found that his father did not have the money to spare, he decided to keep quiet and make do without the book.

To make extra income Annas operated a sugar cane stall after school hours. He found the endeavour rewarding and was grateful for the side income, but he realised the way to a better life would be through education. As a child Annas was drawn to the world that a lawyer lives and works in, and decided that he would become a successful lawyer when he grew up. He studied hard and went to university to study law. Along the way, he always found ways to make a side income, with one notable enterprise that of supplying stationeries and study notes to his mates in university.

Intelligent and determined, Annas graduated and was quickly recruited into the world of corporate law. He earned a good living as a lawyer. As his career progressed, he found more and more possibilities opening up before him. After around five years he decided to go into business for himself. Roping in his family members to help, he ventured into a variety of small businesses, including food, oil and gas, laundry and properties. These enterprises allowed him to hone his business skills, gain experience and expand his network of business associates.

When his big opportunity came, he was fully prepared. When Annas entered the picture, KUB Tekstil Sdn Bhd, which was incorporated in 1995 was a company in trouble. It was suffering from RM42 million in accumulated losses. He was offered the company as the current owner was no longer able to keep it afloat. Annas studied the company carefully and did full diligence. The company produced the high-quality line of school uniform under the brand of Canggih, which was already a well-known brand among parents. He was confident of turning around the ailing company and decided to proceed with the takeover.

He struggled to raise the funding to complete the deal, but was able to complete the deal in July 2007. Immediately upon taking over, he already had his plans all laid out. Without wasting a single day, he totally revamped the operations of the company. Unfavourable and inefficient procurement arrangements were scrapped. Assembly line production was maximised. Performance bonuses and salary increments were offered and he set about transforming the work culture within the company. The result was impressive – costs were drastically slashed, production was multiplied. The company immediately turned a profit. Annas never looked back. Today, a mere eight years later, the company is in the black and raking in millions every year in a lucrative market.

SME Bank played the role of an ever-present partner throughout the company’s growth and expansion. Annas was able to raise financing to fund his business plan to the tune of RM13.8 million through several Islamic Financing packages from SME Bank. Today, the company now known as My-Sutera Sdn Bhd is capable of producing more than 2.5 millions pieces of apparel per year at its factory in Pengkalan Chepa, Kelantan. The Canggih brand is sold via a retail network of over 500 departmental stores and hypermarkets nationwide. Having pulled off this remarkable turnaround, Annas now envisions a future where his company and his brand is famous world-wide, leaving a lasting legacy that will bring joy and happiness to his family and his staff.