Case study

Yew Kai Chong, ACMASite Research Country ManagerTesco Malaysia

Yew Kai Chong

When Yew Kai Chong joined Tesco

Malaysia in 2002 he had his work cut

out. Not only was the up-and-coming

accountant starting his first managerial

role but he’d also decided to complete

the final - and most difficult part - of his

CIMA studies. ‘It sounds a bit crazy now,’

he says, ‘but at the time it made sense to

me. I’d taken some time out from studying

to get more experience in the business

world. Then, when I started at Tesco,

it made sense to complete the course

because my studies would help my job and

vice versa.’

Chong’s plan has worked well. Five years

on, he has played a key role in Tesco’s

rapid expansion across Malaysia. In his

role as Finance Manager – Appraisal,

Analysis and Reporting, Chong was

responsible for helping to assess how each

of Tesco’s stores is performing as well as

ensuring that the right returns are given

to the company’s shareholders. ‘It’s a very

exciting and challenging job,’ he says. ‘It’s

great helping to drive the company by

understanding the competition and finding

the right places for new stores. It’s a really

dynamic market and Tesco is looking to

gain a lot more space.’

Chong’s CIMA qualification has played an

important role in his career development.

‘When I was studying accountancy

at college we had the choice of four

qualifications,’ he says. ‘But it quickly

became clear to me that CIMA was the

only one that has the business perspective

I was looking for,’ he continues. ‘If I’d

chosen one of the others, I probably would

have ended up doing a lot of auditing.

I knew that CIMA would give me a real

insight into how businesses worked and

how to analyse the numbers to help

improve a company’s performance.’

Such skills are vital to Tesco’s programme

of expansion. ‘My CIMA training definitely

made me a more attractive proposition for

Tesco,’ Chong says. ‘They were looking for

someone with analytical skills to help the

company make better decisions. CIMA has

a very strong thread of analysis running

through the syllabus and it’s tailor-made

for a highly competitive sector like retail

where you need to measure performance

all the time and look for new ways to make

efficiencies.’

Chong joined the company one year after

Tesco moved into the Malaysian market.

He’d already spend four years with rival

supermarket chain Carrefour but his

learning curve increased dramatically

after joining Tesco. The company has now

risen to number two in the retail market.

In the past year, it has achieved a 50%

sales growth and a near-doubling of retail

space following the acquisition of Makro

cash and carry stores in the region. ‘I’ve

known that I wanted to be in business

since I was at high school when I used to

read a lot of management books,’ Chong

recalls. ‘It’s a dream come true to work

for a dynamic company like Tesco and it’s

a great achievement for the company to

have reached its current position in such a

short period of time.’

Chong has also progressed. He has

just been promoted to the role of Site

Research Country Manager. This is a

double achievement as Chong believes he

Chong

Case studyTesco Malaysia

Yew KaiSince the mid-90s, Tesco has been

investing in new markets overseas,

seeking out new opportunities for

growth and ways of generating long

term returns for shareholders.

Today the group operates in 11

markets outside the UK, in Europe

and Asia. Over 100,000 employees

work in their international operations,

serving over 15 million customers and

generating over £11 billion sales and

over £560 million profit. Over half of

group space is now outside

the UK.

Following the first moves overseas

into Central Europe, Tesco launched

its Asian business through the

acquisition of the Lotus chain in

Thailand in 1998. Today over eight

million customers every week shop in

636 stores across Asia: in China, Japan,

Malaysia, South Korea and Thailand.

Tesco is developing a very good

market position in Malaysia, with

plans to add a further 22% of space

next year.

‘‘‘I knew that CIMA would give

me a real insight into how

businesses worked and how

to analyse the numbers to

help improve a company’s

performance.’

Yew Kai Chong, ACMASite Research Country Manager

Tesco Malaysia

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is the first Malaysian to hold this position.

‘I know I’m ready to take on this particular

challenge,’ he says. ‘I will continue to draw

on all of the experience gained through

my work and my CIMA studies to help the

company grow. Tesco is aiming to become

number one very soon and the main

focus is driving the business expansion

programme,’ he adds.

Looking back, Chong believes that his

CIMA studies have enhanced his ability to

see the bigger picture outside the finance

function. ‘CIMA has helped me to become

a forward-looking person,’ he explains.

‘Because of my training, I always make sure

I study the overall picture before I make

any decisions. It has given me analytical

skills so that I can look at a particular

department or understand a particular

area and how it affects the business as a

whole.’

Five years after joining Tesco, Chong still

has his work cut out – but he’s loving

every minute of it. ‘We’ve come so far and

now we’re working hard on achieving even

more,’ he says. ‘Being a CIMA member

also means that I can keep up with all

the latest developments in management

accountancy, so I can stay ahead of the

game.’ And what does such a dedicated

management accountant do in his spare

time to relax? ‘I really don’t have much

time to relax at the moment, ‘ he laughs.

‘Maybe next year when I’ve settled into my

new job.’

‘CIMA has a very strong thread of analysis running through the

syllabus and it’s tailor-made for a highly competitive sector like retail

where you need to measure performance all the time and look for

new ways to make efficiencies.’