Biz Alumni 14 November 2019

Encouraging bizaders to excel and be entrepreneurial

Business School graduates must be knowledgeable, become leaders, and be professional people who can contribute well to society and the world, according to Business School alum Lim Yeong Seng (BAC 1986).

Yeong Seng is the founder and managing partner of Kong, Lim and Partners (KLP) that just established two awards for undergraduate students:

  • KLP Medal and Prize (Innovation and Entrepreneurship)
  • KLP Medal and Prize (Accountancy)

“KLP also stands for knowledge, leadership, and professionalism. The intention of these medals and prizes is to motivate students studying accountancy, as well as innovation and entrepreneurship, to develop these three aspects so as to reach their fullest potential,” he said.

Yeong Seng (left) hands over the expendable sum that will be used to establish the two prize categories to Undergraduate Studies Vice Dean Associate Professor Chng Chee Kiong.

The awards were announced as part of KLP’s 20th-anniversary celebrations, where Yeong Seng wanted to honour the community that helped to create the foundation of their success.

The decision to set up the prizes is personal for Yeong Seng, who is still actively involved with the Business School community 30 years after graduation. Besides regular meetings with the members of his cohort, Yeong Seng mentors young accounting students who intern at his firm – to date more than 17 have gained valuable work experience at KLP.

Outside-In spoke with Yeong Seng to find out more about his approach to giving, his hopes for the young Bizaders, and his Business School memories.

Q: Could you describe your giving philosophy?

“Our philosophy is to give opportunities to the younger generation, especially accountants, to engage, train, and develop them. It starts with the young graduates hired in our firm. We bring them through a structured curriculum of training, as well as allow them to gain experience so that they can become better accountants. We also give opportunities to have internships with us (for both university and polytechnic institutions).

The prizes is intended to encourage driven students by pushing them further in that direction. We pride ourselves as an accounting firm with employees who are skilled in accounting and are champions of entrepreneurship. Therefore, we have chosen the two most appropriate prizes – accounting and entrepreneurship.”

Yeong Seng and his KLP team at the firm’s 20th anniversary celebrations.

Q: KLP is an accounting firm, so why set up an award for students in the Innovation and Entrepreneurship specialisation?

“Entrepreneurship reflects my goal to get the firm to achieve leading technologies like robotic process automation (RPA) and artificial intelligence (AI), as well as developing training for our accounting staff. As an entrepreneur myself, I always guide my team to follow in my footsteps to better the firm or even to follow their dreams. I hope to encourage the younger generation never to stop learning and thinking out of the box.”

Q: Once again, thank you for your kind gesture. NUS Business School must have held a special place in your heart?

“I had been in the Anglo Chinese School (ACS) family for 12 years and entered NUS after ACJC. In ACS, everyone was so familiar, so NUS seemed like such a varied place with people from all walks of school life. I did not expect life at NUS to feel as familiar as my years in ACS, but it turned out to be a place where very strong friendships were built, lasting up to even this day.

NUS was a good place to learn and meet new people from different backgrounds. School days were enjoyable and I picked up much knowledge from my professors and peers.

The initiative by NUS Business School to host the 30th anniversary reunion was an excellent move as it allowed us to rekindle friendships again as we have been busy building careers and raising families. The organising committee meets on a regular basis. We even have a BAC chat group on WhatsApp that organises regular walks and events together.

Overall, I have very fond memories of my time in NUS and am very grateful to still be in contact with my classmates.”

Our heartfelt congratulations to Yeong Seng and KLP! May you continue to make great strides in the future.

About the prizes:

KLP Medal and Prize (Innovation and Entrepreneurship) with a cash prize of $1500 is awarded to the best graduating student in the Innovation and Entrepreneurship specialisation who has also excelled in the overall Bachelor of Business Administration Honours Examination, or Bachelor of Business Administration (Accountancy) Honours Examination, with a preference for the award to go to an Accountancy graduate;

KLP Medal and Prize (Accountancy) with a cash prize of $1500 is awarded to the best graduating student in “Advanced Corporate Accounting and Reporting” Modules, and who has also excelled in the overall Bachelor of Business Administration (Accountancy) Honours Examination.