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SBA 2014 Sam Goi Final^21Mar

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SBA 2014 Sam Goi Final^21Mar NOMINEE FOR BUSINESSMAN OF THE YEAR AWARD Sam Goi Seng Hui, 65 Executive Chairman Tee Yih Jia Group Personal Background Executive Chairman of Tee Yih Jia Group, Mr Sam Goi was ranked by Forbes Asia in July last year as the 11th richest man in Singapore with a net worth of US$2 billion and has made it to the Forbes World’s Billionaires list this year, ranked 882nd out of 1,426. With Singapore as its manufacturing base and Group headquarters, Tee Yih Jia produces its world-famous spring roll skins and a wide range of ready-to-eat Asian convenience foods such as spring rolls, roti paratha, crepes, mini prawn rolls, glutinous rice balls and samosas. Apart from its state-of-the-art factory in Senoko, comprising a gross area of over 400,000 square feet, and another 200,000-square-feet factory in Johor (Malaysia), the Group also has manufacturing plants in China, Europe and USA. It currently sells Asian food in over 63 countries, including North America, Europe, Russia, the Middle East and Asia Pacific. It is the largest spring roll pastry manufacturer in the world, with production output running in the billions of pieces of pastry exported around the world. Business Model Leveraging on Technology to Transform a Traditionally Labour-Intensive Business Tee Yih Jia began as a small, labour-intensive spring roll pastry producer in 1969. Mr Goi acquired the company from its founders in 1977 and re-engineered the business by automating the manufacturing and quality control processes. After two years of research, 1 he successfully developed a fully automated popiah skin manufacturing system. Daily production leaped from 30,000 sheets to 35 million sheets today. Mr Goi then developed an aggressive export strategy to market spring roll pastry overseas, targeting initially at the overseas Chinese populations in gateway cities around the world. Today, 90% of its products are exported, not only to Asian communities worldwide, but also to the emerging Middle-East and South African markets. He also industrialised and transformed the production of roti paratha using automated machines, making the production very much quicker. Even the machines used in the factory currently, were designed by Mr Goi himself. From a local, semi-mechanised player, Tee Yih Jia has grown from strength to strength, and has established itself as a global food manufacturer, penetrating into traditionally difficult and mainstream markets such as Europe and USA. Since 1988, Tee Yih Jia has established a strong presence in California, USA with its two facilities producing Japanese noodles, cookies and cultured milk drinks. In 1988, Tee Yih Jia built a plant in Fuqing, Fujian Province to manufacture spring rolls, samosas and biscuits. Besides being the first food processing company in Fujian to attain HACCP certification and ISO 9002, it was also the first to receive European Union clearance for the export of fishery products to Europe. The new millennium marked the move of Tee Yih Jia’s operation to its S$100 million Senoko facility in March 2000. With the use of state-of-the-art technology and integrated, fully-automated manufacturing processes, the quality of Tee Yih Jia’s products has been raised to the highest possible level, to attain HACCP and BRI certifications. Tee Yih Jia’s success is the result of the deliberate and sustained effort from Mr Goi. From the time he acquired the company, he had been relentless in his pursuit of excellence in product quality, brand, sales network and innovation. Once identified by the Singapore Economic Development Board as a promising local enterprise, Tee Yih Jia has achieved its present status by targeting a specialist market, building an international sales network, maintaining a high commitment to quality and using modern technology. Awards and Accolades Tee Yih Jia has won many accolades and awards over the years. In 1986, it was the first medium-sized company to receive the “National Productivity Award” for its emphasis on research and development, quality control, and marketing strategies. That year, Tee Yih Jia was also first in receiving the “Business Times/DHL International Enterprise Award”. Known for its quality, Tee Yih Jia’s spring roll pastry won the prestigious “Monde Selection’s Gold Medal” in 1989, while its samosas clinched the 1987 “SIFST Best Product Award”. After 6 years as one of Singapore’s best 50 companies in the Enterprise 50 awards, Tee Yih Jia emerged as the top winner in 2000. In 2010, Tee Yih Jia was awarded AVA Food Safety Excellence Gold Award in recognition of its efforts to maintain “A” grade in food safety for 15 consecutive years. 2 Going forward, in order to propel Tee Yih Jia into the next phase of growth, Mr Goi intends to focus on a two-pronged growth strategy: sustained organic growth and forging strategic partnerships with other leading food and beverage company in a global context. Astute Investor Mr Goi has developed a reputation for spotting companies with good long-term potential. His portfolio, valued at over S$800 million, includes companies in food and beverage, consumer essentials, recycling, mobile and web solutions, distribution and logistics. He invests in his personal capacity, as well as for the company. Turning Around and Transforming a Watch-list Company Mr Goi identified Mainboard-listed JEL Corporation (JEL) as a company with sound management fundamentals and potential and in May 2012, he invested a total of S$14 million to take a 50.5% stake in JEL, becoming its largest shareholder and Non- Executive Chairman. JEL subsequently was renamed Global Strategic Holdings Corp (GSH). The shares placement exercise allowed GSH, which had been on the Singapore Exchange’s watch list since March 2010, to exceed SGX-ST’s market capitalisation criterion. Mr Goi’s confidence in GSH also helped the Group to raise more funds through a rights issue in 2012which funded the total discharge of its bank debts. Moreover, with the Group returning to profitability in FY2011, it was successfully removed from the watch list on 4 September 2012. A revitalised GSH has since attracted more investor attention with Lippo Group and a private equity fund, SkyVen Growth Opportunities Fund, taking up stakes in GSH. With Mr Goi on Board, GSH has successfully raised approximately S$300 million to build up its war chest, in preparation for its new expansion blueprint. Leveraging on his extensive business network, Mr Goi has been instrumental in transforming GSH into a strategic investment holding company and leading its business diversification efforts in overseas property markets. Most recently, GSH made its first foray into property development in Malaysia by acquiring a 5,900-sqm prime land parcel in Kuala Lumpur’s Golden Triangle for RM132.4 million (S$51.4 million), with a plan to develop this into a residential and commercial project. On 1 January 2014, GSH acquired The Sutera Harbour Group, which owns the Sutera Harbour Resort. It operates two five-star hotels in Kota Kinabalu, Malaysia, as well as the 104-berth Sutera Harbour Marina & Country Club, which boasts a 27-hole championship golf course. GSH has agreed to acquire stakes in two land parcels measuring 12.1 acres and 13.11 acres respectively, within the 384-acre Sutera Harbour property where Sam will site two 3 luxury condominium projects. Together with the two land parcels, the total consideration for the Acquisitions amounted to more than RM1 billion. Mr Goi was re-designated as GSH’s Executive Chairman on 1 January 2014. 2013 – A Banner Year Last year (2013) Mr Goi made strategic investments in several SGX-listed companies as part of his investment plan. Investment of S$14.99 million in Etika International Holdings, which manufactures and distributes sweetened condensed milk and evaporated milk. Investment of S$21.6 million in JB Foods Limited, a cocoa ingredient producer S$9.8 million investment in Yamada Green Resources Limited, a mushroom grower and processed food producer S$5,84 million investment in Global Yellow Pages Limited, a multi-platform solution company Long-term Investor Mr Goi sees himself as a long-term investor. A case in point is his investment in Super Group Limited which can be traced back to as early as 1998, when he bought the shares at only 19 cents. Today, he holds close to 15% stake in Super Group and is the Vice-Chairman and Non-Executive Director. With presence in 52 countries around the world today, Super Group has emerged as one of the leading food and beverage companies in Asia. Some see Super Group as the best takeover option for beverage companies to get a share in Asia’s fast-expanding instant-coffee market. Landed Gentry in China Mr Goi is also a discerning investor in China, especially in the property sector. He started acquiring land in China in 2003 when prices were low and now controls large parcels. His privately owned Yangzhou Junhe Holdings, set up in 2006, has built three residential projects in Yangzhou. Its biggest project is on a 100-acre coastal site acquired from state-owned Tianjin Central Fishery Base Development in early 2011. It is expected to generate revenues of $2.9 billion when completed in 2018. In 2010, Mr Goi also signed an agreement with the Chinese government to develop a food industry park in Tianjin for a total investment of $250 million. TYJ Group’s success globally has also attracted collaboration interests from established food players in China. In October 2013, TYJ Group has signed a Memorandum of Understanding with Tianjin’s renowned Goubuli Group（狗不理集团）, which is one of the longest established food 4 brands in Tianjin.
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