Adrin Loi Boon Sim (b. 1955, Singapore - ) is the executive chairman of toast and beverages chain Ya Kun International. The youngest son of Ya Kun founder Loi Ah Koon, he oversaw the expansion of the company from a single outlet to a chain spanning over 50 outlets and seven countries.
Early life and family
Loi’s father Ah Koon migrated to Singapore from Hainan Island, China in 1926, later marrying a woman from his province and starting a family in Singapore. Loi's childhood was spent in a crowded, busy environment as the family shared a three-storey shophouse with seven other families. The elder Loi ran a coffeestall and Loi and his seven siblings helped out with the stall’s everyday tasks. He recalled carrying 60-kilogramme tubs of kaya (egg and coconut jam) from his home in Cross Street to the coffee stall located across the road. During his National Service days, Loi would return to the coffee stall at night, typically its busiest time of the day, to help out before returning to camp in the morning.
Education and career
Loi studied at Anderson Secondary School and the Singapore Technical Institute, where he earned a diploma in applied electronics. After completing National Service, he took up a private diploma in management before going on to work as an electronics salesman.
In 1998, the Telok Ayer Transit Market, where Ya Kun was located, was slated to be shut down. The business was run by Loi Ah Koon and his eldest son at the time, but the patriarch was in ill health and the eldest son was nearing retirement. According to Loi, his father wanted the business to remain in the family.
Loi and the fifth brother in the family, Algie, took over the business with shares of 80% and 20% respectively by mutual agreement, with some of the brothers and other relatives remaining employed in the business. They were offered shop space at Far East Square, and moved the outlet there at a start-up cost of S$10,000. The rental at Far East Square was between S$6,000 and S$7,000, which represented a 30-fold increase from the significantly lower rent at Telok Ayer Transit Market. To save costs, the family contributed from its savings and the shop was renovated with furniture purchased from businesses that had folded.
Business at Far East Square was brisk, boosted by a large population of office workers in the area, and Ya Kun was able to break even within two weeks. Even then, Loi knew that Ya Kun had to expand if it was to become a viable modern business. Opening a second outlet in Tanjong Pagar within six months, he also worked with consultants from the government’s enterprise agency Spring Singapore to conduct business feasibility studies. When the studies indicated Ya Kun’s potential for growth, Loi decided in 2000 to move into franchising. The first overseas outlet, in Indonesia, opened within two years, and over the next decade Ya Kun grew to over 50 outlets. His father, however, did not witness the expansion of the business, having passed away in 1999. Loi’s mother had passed away after a bout of pneumonia in 1989.
Personal philosophy
Loi has spoken of being inspired by his father’s stewardship of the business, and the hard work put in by his family members. The family culture of hard work has also strongly influenced his philosophy as an entrepreneur. Loi personally articulates his company’s vision of tradition and heritage to his management team, and ensures that his vision is strongly represented in the Ya Kun brand.
The cooperative culture of a family business has also left its mark on Loi’s management style. Having grown up in a crowded environment, Loi saw that the support and cooperation of those around him, and building networks and relationships were crucial for survival in business. He has sought to create a family-like working environment even as Ya Kun has expanded, maintaining a "no-firing" policy where no employee is forced out. He allows staff the latitude to make decisions, encourages a culture of intelligent risk-taking, and maintains service standards through staff training and skills upgrading. Ya Kun’s growth of 29 outlets between 2001 and 2008 has led Loi to reduce his involvement in the company’s daily operations, place greater trust in the strong leaders and managers he has nurtured, and to take on a more strategic role in the business.
Despite Ya Kun’s growth, Loi advocates frugality and a simple lifestyle. Outside of his business career, Loi is actively involved in a number of social and philanthropic institutions, including serving as a member of the North East Community Development Council and as an elder at Bethesda Hall church. He is married and has a son, Jesher.
Author
Alvin Chua
References
Buenas, D. (2003, June 24). Toast of the town. Business Times. Retrieved March 9, 2010, from Factiva database.
Chong, G. (2006, May 31). Ya Kun boss needs only his daily bread. Business Times. Retrieved March 9, 2010, from Factiva database.
Koh, W. (2010). The top toast: Ya Kun and the Singapore breakfast tradition (pp. 62; 133-142). Singapore: Cengage Learning Asia.
(Call no.: SING 338.76164795 KOH)
Lee, C.W. (2006, August 30). Kaya-flavoured taste of success. TODAY. Retrieved on February 22, 2011, from NewspaperSG.
Lee, C.W. (2006, August 30). Torch bearers of the family business. TODAY. Retrieved on February 22, 2011, from NewspaperSG.
Tan, Y. H. (2009, March 09). Toast to sweet success. The Straits Times. Retrieved March 9, 2010, from Factiva database.
Teo, P. L. (2003, August 17). Kaya war spreads. The Straits Times. Retrieved on February 22, 2011, from NewspaperSG.
Ya Kun wants to keep the "old charm". (2002, July 5). Business Times. Retrieved March 9, 2010, from Factiva database.
The information in this article is valid as at 2010 and correct as far as we are able to ascertain from our sources. It is not intended to be an exhaustive or complete history of the subject. Please contact the Library for further reading materials on the topic.
