Eu Yan Sang

[KopiKat]

"I agree that they are getting defocused by foraying into property investment."

They're not the only ones... Look at Aspial...
This is but another sign of a bubble... Non-specialists entering the ppty devt industry. Blame it on the excessive liquidity I guess...

IIRC, during their previous life as a listed co., they also forayed into the property biz. However, during a bout of family disagreement, some of the Eus sold out to Lum Chang, who became the controlling shareholder (reference wikipedia but no mention of their property foray - I didn't chk their references, may have some leads there). Subsequently, some of the Eus managed to buy over the TCM biz and the listco was renamed LC Devt (keeping the Property biz).

The current EYS was listed in 2000, according to their website (but didn't mention the part above). Looks like perhaps, Property had always been in their blood...

I did take a quick look at EYS recently (noticed their falling share price in a bullish mkt) but was put off by their growing debts (likely for buying properties) and worsening earnings (maybe high interest expenses played a part). Will look at it again when earnings improve.