Dato’ Foong Wei Kuong (拿督冯伟强) of JF Technology Bhd named EY Entrepreneur Of The Year™ 2023 Malaysia

• Four other awards presented for entrepreneurial excellence

Dato’ Foong Wei Kuong (拿督冯伟强) of JF Technology Bhd was named the EY

Entrepreneur Of The Year™ (EOY) 2023 Malaysia at an award ceremony hosted by EY earlier this evening. Dato’ Foong was also named the winner of the Master Entrepreneur category. The 63-year-old Founder and Group Managing Director of JF Technology Bhd was selected from among 14 Top Nominees vying for the award.

Dato’ Foong will represent Malaysia on the international stage in June 2024 to compete for the EY World Entrepreneur Of The Year™ (WEOY) 2024 award in Monte Carlo, Monaco.

Dato’ Foong founded JF Technology in 1999 with the vision of making the company one of the world’s best providers of high-performance test interface solutions. Starting the business from his kitchen as a manufacturer and trader of electronic components, Dato’ Foong has since transformed JF Technology into one of the world’s top test contacting solutions providers, serving more than 200 multinational corporations worldwide. Recognising the need for continuing research and attracting top talent to support its growth programme, JF Technology collaborates with local universities to advance high impact research and build future engineers that the industry needs, thereby enhancing their employability in the semiconductor industry. To date, the company has one of the most intellectual property (IP) ownerships in Malaysia with 88 patents filed worldwide, specifically focusing on 5G and automotive testing applications with 41 patents granted.

Philip Rao, Partner, Ernst & Young Consulting Sdn. Bhd. and EOY Malaysia Programme Director said, “Dato’ Foong has skilfully mastered “The Art of Entrepreneurship” by consistently finding new ways to innovate and repaint the business landscape. His determination to produce world-class talent, pioneer new technologies, develop game-changing products, and build future-forward facilities enables JF Technology to stay at the forefront of the semiconductor industry. Dato’ Foong’s resolve to reinvent the status quo in creating a better working world is what makes him an inspirational winner of the EY Entrepreneur Of The Year award.”

Dato’ Abdul Rauf Rashid, Malaysia Managing Partner, Ernst & Young PLT said, “The EOY programme is an annual awards programme that honours Malaysia's top entrepreneurs for their contributions to the economy and society. For more than two decades, EY has been committed to supporting the entrepreneurial cause in Malaysia, coinciding with the government's focus on fostering entrepreneurship and grooming local entrepreneurs to take on the world market.

“Their efforts have transformed lives, bolstered the small-medium enterprise sector, and served as an inspiration for aspiring entrepreneurs. These entrepreneurs have not only set out on their paths to success; they've done so with determination, continuously pursuing excellence.” he added.

In his address at the event, Minister of Investment, Trade and Industry, Yang Berhormat Senator Tengku Datuk Seri Utama Zafrul Aziz said, “The Government's commitment to fostering entrepreneurial growth and participation in the global economy is clearly reflected in our national economic policies and more recently, in the New Industrial Master Plan 2030. The awards’ theme, “The Art of Entrepreneurship”, encapsulates the very spirit of our entrepreneurs, whose creativity and innovation continually curate and shape our economic landscape.

“And it is this very spirit that we hope to nurture through our policies, by among others, strengthening existing programs, fostering digitalization, and cultivating an ecosystem that encourages public-private collaborations. On that note, I commend EY for

their commitment in organising the award programme, now in its 22nd year, and I hope to see the continuation of this effort towards fostering principled entrepreneurship in Malaysia for many more years to come,” he continued.

EY also presented four other awards for entrepreneurial excellence to the following individuals:

• EY Emerging Entrepreneur Of The Year 2023 Malaysia – Ian Chua (蔡昇益先生) and Venon Tian (田振辉先生), Zuspresso M Sdn Bhd (ZUS Coffee)
• EY Technology Entrepreneur Of The Year 2023 Malaysia – Giva Kuppusamy, GK Aqua Sdn. Bhd.
• EY Woman Entrepreneur Of The Year 2023 Malaysia – Lee Hui Jing (李慧晶女士), BilaBila Retail Sdn Bhd (BilaBila Mart)
• EY Master Entrepreneur Of The Year 2023 Malaysia – Dato’ Foong Wei Kuong (拿督冯伟强), JF Technology Bhd.

The four recipients, as well as the overall country award recipient, were selected by an independent panel of judges guided by a set of global standard criteria. The EY Entrepreneur Of The Year 2023 Malaysia panel of judges comprised the following individuals:

• Ms Low Ngai Yuen - Group Chief Merchandise and Marketing Officer, AEON (M) Berhad
• Mr Kamarul A Muhamed - Founder and Group CEO, Aerodyne Group
• Tan Sri Datuk Dr Rebecca Sta Maria - Executive Director, Asia-Pacific Economic Cooperation (APEC) Secretariat
• Datuk Muhamad Umar Swift - CEO, Bursa Malaysia Bhd
• Dato' Hazimah Zainuddin - Founder and Group Managing Director, Hyrax Oil Sdn Bhd
• Mr Raymond Siva – Head of Digital Investment, Malaysia Digital Economy Corporation (MDEC)
• Mr Chu Jenn Weng - President and CEO of ViTrox Corporation Berhad

The EOY 2023 Malaysia programme is also proud to have these organisations join EY in support of entrepreneurship: 

• BFM Media Sdn Bhd
• Bits and Pixels Sdn Bhd
• Bursa Malaysia
• Nanyang Siang Pau Sdn Bhd
• The Edge Malaysia and The Edge CEO Morning Brief
• Wheelcorp Premium Sdn Bhd

For more information about the EOY Malaysia programme, please visit beta.ey.com/my/eoy                                                         

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About EY Entrepreneur Of The Year™

EY Entrepreneur Of The Year™ is the only global program of its kind that supports entrepreneurs as they unlock their ambitions. Established in 1986, this flagship program operates across more than 60 countries and jurisdictions and boasts a global ecosystem of over 30,000 distinguished entrepreneurs. Program participants benefit from lifelong connections, learning resources and insights to help navigate their growth journey, and opportunities to raise the profile of their companies. Each program concludes with a competition and announcement of a winner who goes on to represent their country or region in the ultimate global competition and event for entrepreneurs: EY World Entrepreneur Of The Year™. ey.com/eoy

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This news release has been issued by Ernst & Young Consulting Sdn Bhd, a member of the global EY organization.