Founded in 2011, Eric Leong carved out a niche in supplying foundation steel for waterfront and underground construction projects with Mlion Corp (pronounced as “Merlion”). What began as a modest Singapore-based enterprise has grown into a regional powerhouse, expanding across Southeast Asia, China, and the Middle East.
Eric Leong’s entry into the steel industry was anything but conventional. At a time when many viewed steel as a “sunset industry” in Singapore with limited opportunities to scale, Eric saw the potential for disruption. His decision to enter the field stemmed from a desire to challenge these perceptions and inject new life into a sector that many had written off.
After the 2008 financial crisis, Eric identified untapped opportunities in Asia, where infrastructure demands were surging. This ability to see beyond immediate challenges and focus on long-term possibilities set the foundation for Mlion Corp’s success.
While the steel industry might not immediately inspire discussions on innovation and sustainability, Eric Leong has made them the cornerstones of his entrepreneurial success – showcasing how a traditional capital-intensive business can be revolutionised.
Editor’s Note: Check out our podcast with Eric Leong, Co-Founder and Managing Director of Mlion.
Today, an impressive estimated 90% of the company’s revenue comes from international markets. By capitalising on infrastructure development in emerging economies, the company has positioned itself as a trusted name in the global steel supply chain.
Forging A Path Of Perseverance For Mlion Corp
Building Mlion Corp from the ground up was no easy feat. The steel industry’s inherent challenges — high capital requirements, razor-thin margins, and traditional market practices — made the early years particularly arduous. Eric’s determination to overcome these obstacles was supported by critical partnerships.
The steel business demands significant upfront investment. Early support from banks like OCBC and grants from Enterprise Singapore provided the financial backbone that enabled Mlion Corp to operate and gradually scale the business.
Assembling a strong and adaptable team was also crucial. Eric recognised that scaling operations required talent capable of navigating the complexities of international markets.
Many competitors in the steel sector continue to rely on outdated practices, including limited digital presence. This gap offered the organisation an opportunity to differentiate itself with modern solutions.
In a field often criticised for environmental impact, Eric Leong has championed sustainability as a core mission for Mlion Corp. The company has introduced innovative initiatives that reduce waste and improve efficiency, demonstrating that profitability and environmental responsibility can coexist.
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Embedding Sustainability Into Mlion’s DNA With The Emergence Of GoListid, GoTagID And More
GoListid, a digital platform for trading pre-owned steel, addresses the industry’s waste problem by promoting reuse. As up to 30-40% of steel material is used only in a temporary manner (which is removed from a project when it’s finished), many contractors will then scrap that used steel as raw material.
While there is an element of reusing the steel, much more energy is required for this process, which in turn creates significant carbon footprint. This initiative reduces that enabling transactions between buyers and sellers of used steel.
“At the same time we want to give steel a new lease of life. So, we do all the necessary procedures such as cleaning, cutting, and logistics to facilitate that too. Basically to enable that steel to be reused multiple times.” shared Eric. By integrating a marketplace model, the company has tapped into the growing demand for sustainable business practices.
GoTagID, which is another pioneering solution by Eric and Mlion Corp, came about when the problem of a traditional sticker that contains details on the steel material did not make the cut anymore.
“You will imagine that a sticker will fall off. Through shipment, logistics or even in storage. In Singapore, it rains and it shines. As a result, rust could form on the steel which then causes the sticker to fall off eventually.” shared Eric.
When that happens, information on the material’s properties would be lost (for eg. The heat number and date of production) which is a big problem. To solve this, GoTagID was developed and it leverages on RFID technology to replace the labelling method of using a sticker.
By implementing it on the steel material, track and tracing is easier and it extends all the way from production to even when it reaches storage. After the steel has been used, it’ll also still be scannable and all information on it would be available as like before, as if the steel has its own NRIC and unique ID.
Mlion Corp’s initiatives, such as GoListid and GoTagID, demonstrate the impact of rethinking entrenched practices. By addressing inefficiencies and prioritising sustainability, the company has set itself apart from competitors.
Mlion Corp’s commitment to sustainability goes beyond isolated projects. The company has also undertaken significant sustainability initiatives that highlight its commitment to environmental, social, and governance (ESG) principles. The company has partnered with organisations like EcoVadis and Tembusu Asia Consulting to enhance its sustainability efforts and ensure compliance with international ESG standards.
Mlion Corp’s collaboration with EcoVadis reflects its commitment to sustainability and improving its ESG performance. Through this partnership, the company underwent an assessment process through EcoVadis, which evaluates sustainability across key areas such as environmental practices, labour and human rights, ethics, and sustainable procurement Through their collaboration.
Mlion Corp had then attained a Bronze ESG rating, reflecting its dedication to sustainable practices and positioning it within the top percentile of companies evaluated globally. The corporation also works closely with Tembusu Consulting to align its operations with sustainable development goals, including reducing carbon emissions and promoting energy efficiency.
Mlion’s dedication to sustainability is deeply embedded in its DNA, driven by an ESG committee that oversees and implements initiatives at all operational levels. The company is also actively innovating within the traditionally high-emission steel industry by introducing advanced technologies to reduce its carbon footprint. For example, its MHZ(Mlion Hot Rolled Sheet Piles) are designed to use 20% less steel without compromising structural integrity, thereby cutting emissions associated with material production. Furthermore, Mlion Corp is committed to social responsibility, ensuring human and labour rights adherence while promoting diversity and a safe working environment.
These efforts are complemented by Mlion Corp’s involvement with Tembusu Asia Consultings’ Sustainable Future Fund, which invests in impactful solutions across Asia, targeting sectors like energy transition, climate action, and sustainable urban development. Whereby the company exemplifies how sustainability can become a differentiator in a traditional industry like steel.
A Calculated Strategy To Expand Globally
Since its inception, the organisation had embraced a global outlook. This approach was not without its setbacks, but it laid the groundwork for the company’s success in international markets.
The Philippines emerged as Mlion Corp’s largest market, thanks to the country’s booming infrastructure projects. By focusing on regions outside capital cities, they had avoided excessive competition and built a strong local presence.
Entering new markets is rarely straightforward. Eric and his team encountered “tuition fees” in the form of navigating local regulations and cultural nuances. “understanding local regulations, such as regulations on how to import your products are very fundamental aspects to take note of as they are some things that can trip you up easily.” Shared Eric.
The most expensive lesson and setback that Eric and his team had encountered was when their products of the wrong size were shipped into Hong Kong. “ whatever is written on paper is not exactly the kind of rules that another country might play by” said Eric.
To prevent this from relapsing, he had found partners to work with in the subsequent overseas markets, which helped to accelerate the company’s growth as being able to have someone who is more well versed in those areas was then proven to be very complimentary and sped up processes greatly. Through this patient and methodical approach, Mlion Corp was able to establish a foothold in a good variety of regions.
Their global expansion strategy — marked by careful market analysis and local adaptability — is a testament to the importance of patience and precision.
A Game-Changing Partnership With Nippon Steel
Mlion Corp has garnered significant recognition for its achievements, receiving numerous awards that highlight its growth, innovation, and commitment to excellence. The company has been a consistent presence in the prestigious Enterprise 50 Awards, which celebrates Singapore’s top privately held enterprises.
In 2023, Mlion Corp reached a remarkable milestone by securing 6th place in the E50 rankings, alongside earning a Special Recognition Award for Internationalisation and a Five-Year Award for consecutive wins since 2019. These accolades underscore its successful expansion across Asia and dedication to providing innovative solutions for infrastructure projects.
Additionally, the company was recognised as one of the Financial Times’ High Growth Companies Asia-Pacific, reflecting its robust financial growth and market impact. These accolades showcase Mlion Corp’s leadership in redefining industry standards while advancing sustainable and technological initiatives.
The organisation’s recent partnership with Nippon Steel Trading, a subsidiary of Japan’s largest steel corporation, marks a significant milestone in its growth story. This collaboration offers mutual benefits, granting the organisation access to Nippon Steel’s expansive global network and expertise.
The partnership between Mlion Corp and Nippon Steel Trading Corporation was mutually beneficial, which enabled both companies to expand their reach into new markets across Asia and beyond. Mlion Corp had leveraged Nippon Steel’s extensive international network and expertise in high-quality steel materials to solidify its presence in key ASEAN regions, including the Philippines and Singapore.
This collaboration also allowed the organisation to enhance its offerings with advanced steel solutions tailored for large-scale infrastructure projects such as ports and deep tunnelling works. Conversely, Nippon Steel benefited from Mlion Corp’s established local market knowledge, robust sales infrastructure, and innovative technologies, such as the GoListid marketplace and GoTagID steel tracking system.
Nippon Steel also could capitalise on Mlion Corp’s reputation and distribution capabilities to strengthen its foothold in the competitive ASEAN market.
Solidifying An Empire As A Man Of Steel
Eric Leong’s journey with Mlion Corp is a story of resilience, vision, and transformation. By challenging industry norms and embracing sustainability, he has redefined what is possible in the steel industry.
Under his leadership, the business continues to expand its global footprint, offering a model of how traditional industries can innovate for the future.
Mlion Corp is more than a steel supplier; it is a symbol of how bold ideas and committed leadership can turn challenges into opportunities. As the company scales new heights, it leaves a legacy of innovation that will inspire the industry for years to come.
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