“In my opinion, SMEs are no longer small companies. SMEs are getting bigger and more structured. Some SMEs are more compliant and organised than listed companies. They used to operate within the red dot, but now their playground has expanded to regional and international levels,” commented Choo Koon Lip, CEO of OGL Private, a company within the OFX Group of Singapore. The company is a Forex Consultancy and Investment Advisory.
Founded in 2008 by Choo, OGL Private is a joint venture between Forex Asia Academy & Consultancy (FAAC) and OFX Group (NZ) Ltd. The company, with over a dozen years of forex consultancy experience, has grown into a world-class asset management firm.
Choo highlighted the company’s focus on the booming riches in China and ASEAN nations, “We are situated in the best part of the world—Singapore—where we can engage clients in both English and Mandarin.”
Navigating Economic Challenges
Choo emphasizes the importance of risk management in the business. “In our line, nothing is more important than risk management. Our fundamentals stay the same regardless of economic downturns. We optimise our systems to stay ahead in the market,” Choo said.
Despite the volatility of the forex industry, OGL Private has consistently delivered higher returns on investment than the industry average. “We’ve done this consistently to the delight of our clients and associates,” Choo explained.
OGL Private’s reputation as a leading player in its field allows the company to look forward to significant growth in the next decade. “We see ourselves servicing more clients, with offices in every ASEAN city and 100 branches in the Greater China region,” Choo stated.
Entrepreneurial Lessons
Choo Koon Lip, the founder of OFX Group, graduated from the National University of Singapore with a major in Applied Mathematics and a minor in Technopreneurship. Reflecting on his journey, he emphasized three key lessons: time management, an eye for detail, and ignoring cold eyes from naysayers.
“In business, it’s sincerity in marketing, risk management in operations, and reputation in branding,” Choo added.
When it comes to role models, Choo admires James Cameron for his visionary filmmaking and George Soros for his mastery of forex markets. “Soros’ philosophy is timeless and has had a huge influence on me,” Choo remarked.
To Choo, true success is not just financial gain. “Success is making it big and having people recognize the hard work and effort behind it,” he said. Despite his dynamic career, Choo enjoys simple pastimes like watching movies and driving his Mini Cooper on short road trips.
