The CEO of a leading Southeast Asian steel distributor explains why he decided to launch a venture designed to reuse steel, reduce carbon emissions, and disrupt his core business.

If the many infrastructure projects across Southeast Asia have a common denominator, it’s steel. And in just 12 years, Singapore-based Mlion has become the region’s largest supplier of steel material for the construction of roads, bridges, ports, waterways, and underground tunnels, with offices in Malaysia, the Philippines, Indonesia, Thailand, Taiwan, and China. In 2021, Mlion launched GoListid, an online B2B steel marketplace designed to solve an industry-wide problem by allowing contractors to buy and sell used steel, saving money by eliminating the need to scrap it prematurely and reducing carbon emissions by prolonging its lifespan. Mlion chairman and CEO Eric Leong sat down with McKinsey’s Tomas Laboutka to discuss the creation of GoListid, why he thought it made sense to disrupt his core business, the importance of culture and talent, and his plans to eventually spin it off.

Comments and opinions expressed by interviewees are their own and do not represent or reflect the opinions, policies, or positions of McKinsey & Company or have its endorsement.

The CEO of a leading Southeast Asian steel distributor explains why he decided to launch a venture designed to reuse steel, reduce carbon emissions, and disrupt his core business.
If the many infrastructure projects across Southeast Asia have a common denominator, it’s steel. And in just 12 years, Singapore-based Mlion has become the region’s largest supplier of steel material for the construction of roads, bridges, ports, waterways, and underground tunnels, with offices in Malaysia, the Philippines, Indonesia, Thailand, Taiwan, and China. In 2021, Mlion launched GoListid, an online B2B steel marketplace designed to solve an industry-wide problem by allowing contractors to buy and sell used steel, saving money by eliminating the need to scrap it prematurely and reducing carbon emissions by prolonging its lifespan. Mlion chairman and CEO Eric Leong sat down with McKinsey’s Tomas Laboutka to discuss the creation of GoListid, why he thought it made sense to disrupt his core business, the importance of culture and talent, and his plans to eventually spin it off.
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Comments and opinions expressed by interviewees are their own and do not represent or reflect the opinions, policies, or positions of McKinsey &amp; Company or have its endorsement.

The Venture is an original podcast hosted by serial business builders from McKinsey. In each episode, our experts cut through the noise to show how leaders can launch new companies, testing their theories in conversations with legendary venture builders in Asia. We break down their journey – how they did it, the challenges they faced, how they built successful businesses.

The Venture is an original podcast hosted by serial business builders from McKinsey. In each episode, our experts cut through the noise to show how leaders can launch new companies, testing their theories in conversations with legendary venture builders in Asia.

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