How Singapore-based Eu Yan Sang grew from one shop to a household name

EXPANSION

By the 1920s, Eu Tong Sen had established himself in Malaya and Singapore and had gained a prominent position in the iron mining and plastic estate industries. &nbsp,

He would open a health store wherever he set up a tin me.

Since then, the business has become known as” Eu Yan Sang” and as he has expanded the medical shop beyond Gopeng, he has made the decision to brand the business more firmly with the attachment of the family name.

His home likewise grew. According to the National Library Board’s ( NLB ) Infopedia, Eu Tong Sen had a wife, four daughters and a son by the age of 38. &nbsp,

His mother gave birth to two more people in his career while his mother worried about the family heritage, and the next year, he had two more sons from two different wives. In total, Eu ( Tong Sen) had 13 children and 11 sons by 11 ladies”.

Following Eu Tong Sen’s dying in 1941, his riches was divided among his 13 children. According to the South China Morning Post, the company grew very complicated to manage after his demise, and the majority of his property were sold by the 1980s. &nbsp,

However, his granddaughter Richard Eu became the company’s general manager in 1989. Richard Eu, who was born in Hong Kong, immigrated to Singapore when he was just two years old.

As public administrator, he looked to resurrect the business. Numerous home people sold their shares to Lum Chang Holdings, a division of Lum Chang Holdings, at the beginning of his career. By February 1990, Lum Chang had become the lot investor.

Eu Yan Sang International Holdings was established three years later by Richard Eu and three of his nephews, who staged a deal worth S$ 21 million to acquire the medical division of the business.

Eu Yan Sang International Holdings had already completed its acquisition of Eu Yan Sang Hong Kong, resulting in the combination of Eu Yan Sang’s activities in Singapore, Malaysia, and Hong Kong.

Under Richard Eu’s leadership, the business expanded, and it began to offer more simple products like herbal soup mixes, packaged birds ‘ eggs, and Chinese medicine in capsule form.

Eu Yan Sang International became publicly traded on the Singapore Exchange (SGX ) in 2000. The next year, it launched TCM hospitals in Malaysia and Singapore.

DELISTING

In August 2016, the company &nbsp, reported&nbsp, a complete- time net loss of S$ 13.5 million. The company shut down its six financial locations and food and beverage operations in China. &nbsp,

Its losses were affected by “impairments” on house, plant and technology, as well as kindness and intangible assets in Hong Kong, China and Australia as part of its business reform program, it said in a nyse filing.

About two months later, the firm delisted from SGX. &nbsp, A collaboration led by a UOB- backed account, a Temasek Holdings system and Richard Eu made a privatisation pay for the business, it was reported. &nbsp,

At the time of the transaction, Eu Yan Sang was valued at around US$ 96 million.