(Oct 9): Ascenz founders Chia Yoong Hui and Sia Teck Chong have been helping ship owners make their vessels more intelligent for nearly a decade. The industry is now beginning to see their value.
When Chia Yoong Hui and Sia Teck Chong founded Ascenz in 2008, the maritime technology solutions company faced a challenging time trying to carve a name for itself in the shipping industry. The duo had little to no track record, and they found it difficult to convince ship owners to use their fuel consumption monitoring system.
Ascenz is no longer an unknown name. Large shipping companies such as Taiwan-listed Evergreen Marine Corp, China Merchants Group and even Malaysialisted offshore service provider Bumi Armada are among the company’s growing clientele. Over the past decade, more than 400 ships have installed its technology solutions. More than 30 of them have been container ships. And Ascenz has been profitable almost from the beginning.