Yoong Hui Chia
Chairman and CEO at Ascenz
Title of the speech:
Transform shipping digitally
The shipping industry has long been under pressure for change. Since the 1980’s most efficiency gains in the sector have been due to slow steaming and no technology shifts. While the industry built bigger ships, economies of scale are diminishing. Now, competitive pressures are immense from overcapacity and declining charter rates means the industry is stuck in a long decline.
The shipping industry is about one to two decades behind other industries in technology, how do we transform shipping digitally from a “cost minimization” business model or gambling business, into an asset management one.
Ascenz founder Chia Yoong Hui has served as Chairman, Chief Executive Officer and Director since the company’s inception in 2008. An innovator in the operational intelligence industry, Chia provides strategic direction to Ascenz as it leads the international market in the delivery of its SHIPULSE solutions.
Under Yoong Hui’s leadership, Ascenz has grown from a humble company to an award winning company, well recognized in the industry for its innovation. He has set to pioneer ship data analytics on world stage to further the company’s growth and Ascenz now transacts more than 70% of its business internationally.
Yoong Hui graduated from the University of Wales with a B.Sc. (Hons) degree in Business Computing with Financial Management in 1999, and received his Master of Business Administration (MBA) from the University of Southern Queensland (USQ) in 2005.