STRATEGY

HLA

SUMMARY

Binomial helped Hong Leong Asia drive long-term growth through strategic planning that facilitated leadership’s exploration and alignment of their five-year vision and strategic framework

CHALLENGE

Hong Leong Asia (HLA) is an established Asian multinational offering both building materials and powertrain solutions. Binomial previously worked with them to define their 5-year vision in 2020. Since then, they have made good progress seeing its profits grow to S$93 million in H1 2024, a 44% increase from H1 2023.

With the built environment industry under pressure to reduce their carbon emissions and improve productivity with the help of technology, it was also a good time for HLA to look ahead at the next five years and figure out their future growth direction.

With the building materials business, HLA needed to figure out how to:
Leverage their current strengths
Explore growth beyond building materials  
Align leadership across different subsidiaries
Structure the business to support future growth

HLA worked with Binomial on a strategic programme to define their next 5-year vision and identify growth opportunities for the company.

APPROACH

To define HLA’s vision and uncover growth opportunities, our strategic programme involved members of HLA’s leadership and management, and sought to align them on aspirations and avenues the company could explore. Tapping on our diverse experience working with the building materials as well as adjacent sectors, we research and identified growth opportunities in and beyond the sector based on trends, emerging market needs, peer review, and an internal survey. Using the input to prioritise focus areas, we engaged the leadership team in workshops to map their aspirations and strategic initiatives for the next five years. We also invited guest speakers from other industries to join us and share their growth journeys.

IMPACT

Our strategic programme defined HLA’s Vision 2030, a strategic framework that organised key growth opportunities, and prioritised next steps to bring the plan to life. This included digitalisation, sustainability, and innovation to push growth beyond business-as-usual, along with a revised brand architecture to support the growth.

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