Founded by chairman Chang Yung Chang, PIL remains a family owned business with son SS Teo at the helm as managing director.
Speaking to Seatrade Maritime recently Teo says: “Today we pride ourselves being the largest privately owned shipping group in Southeast Asia.
“PIL has gone a long way since it was founded by our chairman, Mr Y C Chang, 50 years ago on 16 March 1967. We will continue to work hard and smart, remain humble, be focussed, continue to improve and innovate. This is in line with our founder, our group chairman and my father’s philosophy.”
Despite the tough times shipping has experienced in the last few years PIL has continued to grow its business across shipping and logistics, both in the niche trades that are its hallmark, and as a global business to give it a worldwide network.
“In a rare interview with The Straits Times in February 2012, my father was called ‘Survivor of the High Sea’. He is cautious but with an eye for opportunity.
He has an instinct for the industry which comes only with experience. He understands that relationships last far longer than the cycles of boom and bust,” Teo explains.
“That DNA now runs through the company he founded. PIL will continue to be a spirited survivor in this testing environment.”
On the niche front of PIL’s business over the last 18 months to two years the company has continued to expand in the Pacific and Oceania region, China and Africa, in part in relation to China’s One Belt One Road (OBOR) initiative.
“I believe that PIL is one of the first companies in Singapore to respond positively to OBOR,” Teo says.
“OBOR is a very grand vision and many countries that can benefit through it.”
To read the full interview, download the Seatrade Maritime Singapore Report 2017:
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