KUALA LUMPUR (Dec 7): JF Technology Bhd’s founder and group managing director, Datuk Foong Wei Kuong, has been named Ernst & Young (EY) Entrepreneur of the Year 2023.

In a statement on Thursday, EY said Foong also emerged as the winner of the Master Entrepreneur category. He will represent Malaysia on the international stage in June 2024 to compete for the EY World Entrepreneur of The Year (WEOY) 2024 award in Monte Carlo, Monaco.

EY noted that Foong founded JF Technology in 1999 with the vision of making the company one of the world’s best providers of high-performance test interface solutions.

“Starting the business from his kitchen as a manufacturer and trader of electronic components, Datuk Foong has since transformed JF Technology into one of the world’s top test contacting solutions providers, serving more than 200 multinational corporations worldwide.

“Recognising the need for continuing research and attracting top talent to support its growth programme, JF Technology collaborates with local universities to advance high impact research and build future engineers that the industry needs, thereby enhancing their employability in the semiconductor industry,” said the company.

According to EY Malaysia managing partner Datuk Abdul Rauf Rashid, EY had for more than two decades been committed to supporting the entrepreneurial cause in Malaysia, coinciding with the government's focus on fostering entrepreneurship and grooming local entrepreneurs to take on the world market.

“Their efforts have transformed lives, bolstered the small-medium enterprise sector, and served as an inspiration for aspiring entrepreneurs.

“These entrepreneurs have not only set out on their paths to success; they've done so with determination, continuously pursuing excellence,” he said.

Philip Rao, the EOY Malaysia programme director and a partner of E&Y Consulting Sdn Bhd, said Foong has skillfully mastered “the art of entrepreneurship” by consistently finding new ways to innovate and repaint the business landscape.

“His determination to produce world-class talent, pioneer new technologies, develop game-changing products and build future-forward facilities enables JF Technology to stay at the forefront of the semiconductor industry.

“Datuk Foong’s resolve to reinvent the status quo in creating a better working world is what makes him an inspirational winner of the EY Entrepreneur of The Year award,” Rao said. 

EY also presented three other awards for entrepreneurial excellence to the following individuals:

The Edge is the media partner of EY Entrepreneur Of The Year Malaysia 2023