In line with our Employee of the Quarter Award, we are presenting a series of stories on our Core Values to show our appreciation towards the YTL Construction Family. To start it off, we are featuring Mr. CY Chan for Honesty which is our first core value.
A well-known figure in YTL, known to most as CY, holds the position of Head of Accounts for YTL Construction, YTL Power International and Seri Yakin.
Being the Department Head and overseeing approximately 40 team members, he inevitably has a hectic schedule. His daily tasks range from performing treasury functions, producing quality sets of accounts, and spending time with his team members, to replying to a great number of emails and keeping updated with regulatory framework. Not to mention providing reports, updates and proposals to management, including quarterly financial reporting for YTL Construction and YTL Power International, as well as monthly financial performance meetings with the management.
When asked about his experiences related to Honesty, he was able to draw from a considerable amount of memorable events to share with us, with ample years of service behind him.
In 1984, whilst seconded to YTL Construction, he was tasked to perform an internal audit of a family-owned company belonging to our respected, late Tan Sri Yeoh Tiong Lay. At the same time, management of the company had just been taken over by Dato’ Hong. Thus, CY had the opportunity to work under the management of Dato’ Hong. This explains how he was absorbed into YTL Construction a few years later.
The two years of audit work, which also involved forensic auditing, taught CY a valuable lesson – Honesty.
Whenever he faced challenging issues at work or was unable to complete the difficult task given due to self-limitation, he was always honest and humble enough to ask Dato’ Hong or senior colleagues for guidance and direction.
Doing this gave him peace of mind and the support to forge ahead in applying himself to the job, becoming a force to be reckoned with while also enjoying working life.
CY relates his life mantra to Mahatma Gandhi’s quote, “A person should be honest in the first instant, no matter how harsh the truth is.”
Then in 1987, CY was offered an appointment by Dato’ Hong to set up site administration and site allocation payment systems at Labuan Asian Supply Base, and followed by Peninsular Sites for YTL Construction. In early 1988, together with the IT department, they set up the first ever Budgetary Cost Control system for construction projects.
Handling that task, CY exuded an openness and honesty that came naturally and as a result, he was officially transferred to SPYTL as the Head of Accounts on 1st July 1988. He has now worked in the company for more than 37 years.
During the course of the early years, CY was repeatedly approached by service providers and subcontractors, especially two weeks before Chinese New Year, to assist them in obtaining payments or without verifying their bills. Without hesitation, CY would sternly decline and warn them that he would expose them. As an outcome, zero incidents of such have happened in the Accounts department.
Additionally, there were cases of the Site Administrators embezzling site petty cash. This was quite a common occurrence back then. The only SOP at the time, which he followed to the letter, was making a police report and exposing those involved in the criminal offence. He regularly tells his team members that there is no such thing as leniency when it comes to handling accounts. This has led everyone working with him to have a clear understanding of his modus operandi. He has practiced zero tolerance of fraud, embezzlement, and the like. Consequently, in the last 20 or so years, embezzlement of site funds has not occurred under his watch.
CY repeatedly testifies that it was because of his honesty, integrity and transparency in the early years that he gained the trust and confidence of Dato’ Hong which has allowed him to hold such a position. He has a deep appreciation that Honesty is the key attribute for any career path advancement.
CY is grateful for the support and guidance shown by the management that has helped make him who he is today.
To conclude, CY vouched that Honesty pays in the long run, both in career and life. “By being honest, people will always trust and respect you,” he reflected. CY is a true exemplar of a figure who exudes honesty. It is an honour to have him with the company and thank you for going Above & Beyond!
