2007
PERSONAL MONEYNovember 2007
Cover
Julia Chong She made her first million as an employee, and then later chose to give a million away.
KANCIL AWARDSNovember 2007
Kancil Awards 2007 festival - Speak Series
HERVOICEVolume III
Entrepreneurship
A Truly Loving Company
JULIA CHONG is defying all the rules of business by running a company that donates 100 per cent of its dividends to charity.
ABWMJune 2007
Charity
A Truly Loving Company
Julia Chong has decided to use her 30 years business experience in consumer goods to set up a new corporation where the profits will be distributed through dividends to designated charities.
MADAM CHAIR Volume VIII
Cover
It Must Be Love
Julia Chong gave up a top corporate job to start a company tat would give away all of its dividends to charity.
VOLUME VIII 2007
By SHAREEM AMRY
But it would be a mistake to dismiss TLC as a modest setup. Julia established it according to a corporate profit model that any multinational company would use. She holds one ordinary share worth RM1 that allows her to manage the company, but not earn any of the dividends. Lawyer and co-director Khaw Chay Tee holds another share, and gives TLKC legal guidance and corporate advice pro bono.
The remaining shares are held by HSBC (Malaysia) Trustee Bhd on behalf of the charities. “I was very surprised they wanted to be involved, because they had never done this for any other company before,” Julia says. “I think they said yes to use because they believed we were genuine. They’re very strict, very meticulous, and having them really builds our credibility.”
It’s hard not to keep going back to TLC’s mission to give 100 per cent of its dividends to charity, a condition that Julia says will never change. “When businesses are small the partners can get along, but when the profits grow they start to fight over the money. I’ve seen it happen so many times, and that’s why I’ve set up TLC this way. It all goes to charity, no matter how successful TLC becomes.”
Julia runs the company in much the same way as she did her previous portfolios. She says she is tough and demanding with her staff, but also fair and caring.“I believe in a consultative style because everybody has an opinion and a good idea,” she says.
Her years in the corporate world and the experience of her husband’s sudden passing have also had an impact on her position on the work/life balance. TLC operates on a seven-hour day and flexi-hours, with staff only needing to be in the office from 10am to 3pm. “No one follows that though,” she sighs. “Everybody stays beyond 7pm, including me. Bit I do try to balance my hours and not work on weekends.”
She also starts her day with 45 minutes of chi qong, a practice she began five years ago. “I used to love being the first one in the office, but if you’re half an hour late because you’re doing some exercise in the morning, the company will not miss you and it adds so much value to your life.”
Another difference is her co-director Chay Tee, whom she first met in the late 1970s and who re-entered her life five years ago. “After Laurence passed away I felt that everything would be about the kids from then on. But Chay Tee is my chance at life and happiness,” she says.