With a growing portfolio that now includes businesses in technology, food, advertising, sports and hospitality, it’s no wonder that Nexgen Asia CEO Fred Hui has been dubbed by many as a “serial entrepreneur.”
By GRACE C. DIEZ
While most businessmen tend to employ a more specialized and focused approach to their ventures, self-made entrepreneur Fred Hui chooses a different path.
“It’s just not in my personality to focus on a single thing. I like diversity, and I am interested in so many things,’” he starts off. “It’s the classic ‘don’t put all your eggs in one basket’ philosophy. While some may want to focus on being the best in their industry, I personally prefer having good companies in various industries.”
Among his baskets is Nexgen Asia, a company that he founded back in 2007 in Hong Kong. Almost 16 years later, this technology and security provider has earned a solid reputation as a preferred systems integrator in the Philippines, where it offers international standard services= in electronic security, fire protection, renewable energy, IT, logistics, construction and security personnel, among others.
And while his first brainchild has most certainly kept him busy over the past couple of decades, Hui still found the time to invest in other businesses, as 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 a wine business.
Such diversification has, time and again, worked to his advantage — especially during the thick of the pandemic. “I think the pandemic proved that it is actually a good thing to be a jack ofall trades. For example, some of my businesses, especially the food kiosks and restaurants and our bed and brewery in Siargao, may have taken a hit, but my other businesses continued to thrive,” divulges Hui.
Being a “Serial Entrepreneur”
Because of his multiple investments in various industries, Hui has been christened a “serial entrepreneur” by some of his peers. It is a moniker that he embraces with pride. “I think it accurately describes who I am as a businessman so I’m happy to be called one,” he says.
This, after all, is a childhood dream-come-true for him. “I’ve wanted to become an entrepreneur ever since I was young. I’m not sure what directly motivated me, but I think growing up in a Chinese-Filipino household influenced my thinking a lot. I don’t remember wanting to be anything else,” he confesses.
Even at a young age, there were already tell-tale signs that he would grow up to be a successful businessman. “When I was in grade school, I collected newspaper clippings about successful businesses and profiles and biographies of tycoons. I sold candies and chocolates to my classmates, too,” he fondly recalls. Hui also spent his summer breaks working for his grandfather.
“I officially joined my grandfather’s food manufacturing business after finishing school. But after working there for a while, I decided to study Mandarin abroad. Once I completed the language program, I knew I had to find a job where I can apply and practice my Mandarin skills. So I found a job in sales for a security solutions company in Shanghai, and then in Hong Kong,” he says.
He considers this to be a turning point in his career. “When I came back home to Manila, some of my clients abroad contacted me and asked if I wanted to represent them here. That was how Nexgen Asia started. It marked the beginning of my life as an entrepreneur. I’ve met a lot of people while managing and growing Nexgen Asia. Also, because of its success, I was able to have the funding I need to venture to other businesses,” Hui explains.
He then adds with a glint of pride: “I started Nexgen Asia with a very small capital, drawn from my own savings. With hard work and dedication, I grew my business into a company that now employs and provides opportunities for hundreds of people.”
No smooth ride
The journey to the top was exciting, to say the least. Just like every businessman, he, too, had had to face quite a few challenges early on. But what didn’t kill Hui made him stronger.
Many times, Hui found himself evolving out of necessity. “Growing up with divorced parents was really challenging. I had to mature earlier than my peers. I can’t really say that I had a childhood,” he shares.
Things didn’t get easier outside of home, either. “I also had a falling out with a business partner who I was very close with when I was just starting out. Being inexperienced and, perhaps, slightly immature, I handled the situation poorly and, naturally, that affected the business. After going our separate ways, I had to start the company almost from scratch, with very little funding and support,” he says, reflecting on the experience.
All these obstacles eventually became the bricks he used to build his own empire. “I am passionate about what I do and I am resilient. I’ve failed many times but I got back up every time. Also, I think I have built a solid reputation of being a credible, capable entrepreneur and I truly work hard to keep it that way,” Hui states.
He also stresses the importance of having the right people by his side. “Having the right partner or management team matters a lot. I usually decide to pursue a business opportunity after making sure I have the right people with me,” he says.
Though Hui is passionate as an entrepreneur, he quickly adds that business is not the be-all and end-all of his life. He knows his priorities and even makes time for seemingly simple things that undoubtedly bring him joy.
“I am definitely a family man. I tend to get very busy with work but my family always comes first. As for hobbies, I like biking and working out. I especially enjoy meeting people and hearing about their stories,” Hui says with a smile.
He also finds time to help other people and fellow businessmen, so that they can make better decisions as they navigate the delicate world of start-ups. “I really like helping those who help
themselves. Every time I encounter people who I know are working hard to reach their goal, I try to introduce them to people who could help them succeed, share advice or even give them some funds to start their own ventures,” he says.
He also has a valuable piece of advice for aspiring entrepreneurs. “Invest in yourself early on. Put in the time and effort to learn and improve. Read books, attend trainings and seminars, meet people, eat right, exercise, take chances and make mistakes. You should aim to become someone whom people would want to do business with. Your reputation is very important, so work hard to earn a good one. And once you are there, always remember to be grateful and humble,” he thoughtfully sums up.
