4 Companies with Vested Interest from Singapore’s “Popiah King”

Tee Yih Jia Food Manufacturing Private Limited (“Tee Yih Jia”) is currently the world’s largest maker of Popiah skins. Its founder, Mr. Goi Seng Hui, who is nicknamed as “Popiah King”, is the current Executive Chairman of this leading frozen food manufacturer.

Tee Yih Jia exports more than 90% of its renowned Spring Home products to countries in Europe, North America, South Africa, Middle East and Asia Pacific. Apart from owning Tee Yih Jia, Mr. Goi also has distinct business interests in Singapore, China, Malaysia, United States and the rest of the world.

In particular, he has vested interest in several local listed companies such as:

• GSH Corporation Limited (SGX: BDX)
• Hanwell Holdings Limited (SGX: DM0)
• JB Foods Limited (SGX: BEW)
• Serial System Limited (SGX: S69)

1) GSH Corporation Limited (SGX: BDX)

Listed on the Mainboard of the Singapore Exchange, GSH Corporation Limited (“GSH”) is a growing property developer in Asia, with five properties under development in Malaysia and China. It also owns and operates the Sutera Harbour Resort in Kota Kinabalu, comprising two five-star hotels, a 104-berth marina and a 27-hole championship golf course, and the idyllic Sutera@Mantanani Resort on the Mantanani Islands in Sabah.

Key Statistics

Ownership

Mr. Goi is the largest shareholder of GSH, with a 47.8% stake in the company. Currently, he is the Executive Director and Chairman for GSH.

Other notable shareholders include GSH’s Chief Executive Officer, Mr. Ee Guan Hui and the Estate of Ng Teng Fong, which represent the interest of Far East Organization.

2) Hanwell Holdings Limited (SGX: DM0)

Established in 1974, Hanwell Holdings Limited (“Hanwell”) is a homegrown consumer essentials provider that manufactures, distributes and markets a diverse range of quality consumer products.

Some of its well-known household brands include Royal Umbrella rice, Golden Peony rice, Golden Circle Oil, Fortune Food, and Beautex. Its distribution reach covers all major supermarkets/hypermarkets, convenience stores, minimarts, e-commerce, food service, and commercial industries.

Key Statistics

Ownership

Mr. Goi is the largest shareholder of Hanwell, with a 28.6% stake in the company. Currently, he is the Non-Executive Director and Executive Chairman for Hanwell.

Other notable shareholders include private investors, Ku Yuen-Sen, and Cheng Koh Chuen Family, which represents the interest of Prima Group.

3) JB Foods Limited (SGX: BEW)

Established since the 2000s, JB Foods is a major cocoa ingredients producer with operations in Malaysia and Indonesia with a cocoa bean processing capacity of 180,000 tonnes per year. We are principally engaged in the production and sale of cocoa ingredient products, namely cocoa butter, cocoa powder, cocoa liquor and cocoa cake, which are used to produce chocolate, chocolate confectionary, as well as cocoa-related food and beverages.

Key Statistics

Ownership

Mr. Goi is the 2nd largest shareholder of JB Foods, with a 24.4% stake in the company. Currently, he is the Non-Independent, Non-Executive Director and Vice Chairman for JB Foods.

Other notable shareholders include the largest shareholder, JB Cocoa Group Sdn. Bhd., which represents the interest of Mr. Tey How Keong, who is the Chief Executive Officer for JB Foods, as well as Ecom Agro Industrial Corp Limited, which is a leading global commodity merchant and sustainable supply chain management company.

4) Serial System Limited (SGX: S69)

Established in 1988 and listed on SGX since July 2000, Serial System Limited (“Serial System”) has one of the largest distribution networks in Asia, with 23 offices and 13 warehouses throughout Asia Pacific. It also has a wide customer base of more than 5,000, spanning a diverse range of industries such as consumer electronics, household appliances, industrial, telecommunications, electronic manufacturing services, automotive and medical.

Key Statistics

Ownership

Mr. Goi is the 2nd largest shareholder of Serial System, with a 16.2% stake in the company. Currently, he does not hold any position in the company and is represented by his son, Mr. Goi Kok Ming Kenneth, who is the Non-Executive Director in Serial System.

Other notable shareholders include the largest shareholder, Dato’ Seri Dr. Derek Goh Bak Heng, who has a 40.4% stake in the company. Previously, he held the position of Chief Executive Officer in Serial System.

Conclusion

In conclusion, Mr. Goi owns significant stakes in pretty diverse industries based on the 4 companies mentioned above.

With that, investors should still do their own due diligence because what worked well for the substantial shareholder may not be the same for retail investors.

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