Can you share the background of the business?
In 2018, my business partner Ariff Azlan Salahuddin and I decided to start a business in the oil and gas (O&G) industry after being laid off from one of the world's largest oil companies due to the economic recession.
“Ghazco not only have clients from local companies, but there are also clients from abroad.’’
What is Ghazco's business development since 2018 until now?
I feel grateful because within 5 years, Ghazco had grown in terms of office size, business diversification from just business activities in terms of trading and providing spare parts to venturing into the field of engineering and fabrication. We are grateful that the development of this company is supported by financial funding from financial institutions and SJPP itself.
In addition, we are also venturing into the energy sector. Solar energy has a high demand from the market.
Now, we are very grateful that customers trust us to provide end-to-end products. Ghazco not only have clients from local companies, but there are also clients from abroad, including Spain and countries in Africa.
What are the challenges in your business?
When we started this business, we were quite young then, 33 years old. We tried to convince our customers to buy goods from Ghazco worth millions of ringgit. To gain the confidence and trust of customers is quite difficult, not to mention that Ghazco is still considered new.
Our advantage back then was just a combination of me and my business partners experience in the industry. Regardless, we managed to overcome the challenge.
In addition, the challenge of the payment system from large companies that get large projects worth billions of ringgit. These large companies will award sub-projects to oil and gas companies and one of them is Ghazco. However, to complete this sub-project, we need to raise our own capital first. The point that I am trying to highlight is, there is a challenge in managing the cashflow. If we can overcome these challenges, then, more business opportunities can be explored.
|Ghazco Energy’s Products
Can you share Ghazco's future plans?
In general, we do not want Ghazco's source of income to depend solely on engineering and O&G. The energy sector is the main focus of the new phase of Ghazco's business module.
What is your advice to new entrepreneurs?
Starting with planning, execute it as early as possible and get it right. What I meant by getting it right is, documenting business transactions correctly, executing business activities properly such as paying business taxes and so on. Make sure to make things right to avoid any mishaps in the future.