Apart from being CEO and founder of security and technologies firm NexGen Asia, businessman Fred Eric Hui is also part-owner of a bar, a few restaurants and several food kiosks. He also owns an advertising firm, a basketball team and a ‘bed and brewery’ business. Together, these ventures have earned him the moniker “serial entrepreneur” among his contemporaries.
After working for a security solutions firm in Shanghai and Hong Kong in the early 2000s, Hui came back to Manila with a business proposition that would help him establish his own company and become a trusted partner by multinationals in the Philippines. “As much as I want to say that I came up with the idea of establishing this company, it was actually more like the opportunity presented itself and I took it,” starts off the CEO and founder of NexGen Asia.
Established in 2005, the company, which started out as a provider of high-tech security and safety solutions to multinational companies here in the Philippines, has since expanded to cover logistics, IT and communications, manpower and recruitment, and air-conditioning technologies, among other fields.
And while its client base has grown diverse, the company’s mission remains the same. “We still aim to provide innovative solutions and trustworthy services to our clients, so that they may remain competitive locally and globally,” Hui explains.
Serial entrepreneur
Aside from NexGen Asia, Hui is also part-owner of a few restaurants and several food kiosks in Metro Manila, a bar in Makati, an advertising firm and a basketball team in the Maharlika Pilipinas Basketball League. He even owns a ‘bed and brewery’ in Siargao and even a wine business. Altogether, these have earned him the moniker of being a “serial entrepreneur” among his contemporaries.
“A lot of it has to do with gut feel, but more importantly, with people,” he explains. “Whenever a new business opportunity interests me, I look at the people I’m partnering with. You can never underestimate the importance of having the right partners. If our values align and I have the capital, I go for it.”
Being enterprising is also in his DNA. Fresh out of college, Hui joined his grandfather’s manufacturing business, Centennial Food Corp. There, he developed valuable traits that he would carry with him through the years. “Working hard, valuing your work, persevering through tough times and making sacrifices — these are the things I learned from my grandfather. Perhaps that was where my special affinity for food-related businesses came from, too,” he shares.
Speaking of food businesses, many of them were hit by the COVID-19 crisis. Hui’s investments were not spared. “Some of my businesses were hit by the pandemic, especially the food kiosks and restaurants. The bed and brewery in Siargao also took more time to complete because of the pandemic,” he says.
Thankfully, they are all on the road to recovery. Some are even doing better than they’ve ever been. How did he do it?
“It’s the classic ‘don’t put all your eggs in one basket’ case? While some may want to focus on being the best in their industry, I personally prefer having ‘good’ companies in various industries,” he expounds.
Learning curve
With experience as his mentor, Hui has now gained confidence in his skills and instincts as a businessman. Still, he is quick to note that the road to success was paved with hard work and even some painful lessons.
“Early in my entrepreneurial career, I had a falling out with a business partner, whom I was very close with. Being inexperienced and somewhat naive, I handled the situation poorly,” he admits. Eventually, he picked himself up and learned from his mistakes.
Pairing these lessons with hard work, professionalism and strong business acumen, Hui was able to grow his business portfolio over the past two decades. “Earning the respect of your peers, clients and the teams that you lead does not happen overnight. Backed by my solid track record in various industries, I was able to grow in business further because people acknowledge me as a credible, capable entrepreneur. I work hard to keep their trust and confidence in me,” he says.
And in the same way that his grandfather inspired him early in his journey, Hui’s motivations have gone full circle and come back to family. “At the end of the day, I am a husband and father who simply wants to give my family the best life possible. I am also a son who wants to make my mother proud,” he concludes.
