Eu Yan Sang

[Muck]

"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...

[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.

[WolfT]

Is this family business related to genting Lim family?
I rem i saw e CEO of EuYanSeng was introduce as the cousin of Lim Kwok tai in a doc tv in genting...

[piggo]

thought they have always 'invest' in money losing ventures... and then let the core biz earn it all back... ;>

[yogi]

"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...

Aspial is worst as they have become active property developers.

EUS is so far being passive investor in properties. Hope they don't become active developers like Aspial.

[hongonn]

EYS investment in properties reminds me it is a china man company. You know properties is in the blood of all chineses. If the company start to earn some excess money, the chinese will hand itchy have to buy a property or 2.

It is the difference between china man company and western company. Instead of cracking their head to improve business, seek growth, they always seek easy way to become Li Ka-shing the junior.

Many rich chineses are made from properties. Where as many westerners are made from innovations.

[piggo]

Results announced, declared 2c dividends.

Not very impressive set of results to me, their profit margin dropped to its lowest ~5% since 2008 when they incurred losses on Red White Pure and some aussie subsidiaries. Operating expense per dollar revenue generated is also at its highest in 10 years... In general everything looks quite bad this year. Haiz... disappointing.

[KopiKat]

Just posting some links on their Oz adventure for future reference,

Healthzone
Reuters : Old news, includes when EYS started investing their stake to buying over most of the assets
ASX : ASX Annc
ASX : Winding Up Notice

HealthyLife
Healthy Life Group Pty Ltd, a wholly owned subsidiary of Eu Yan Sang International Ltd(“EYSI”), acquired the majority of the business and assets of the Healthzone Group on 16 February 2012. EYSI is listed on the Singapore Exchange.

[pianist]

Oz adventure might fail them i fear..

[TheMillennium]

Eu Yan Sang International on Friday priced its S$75 million, 5-year unsecured notes due June 6, 2018, at 100 per cent.

The bonds will bear a fixed coupon rate of 4.10 per cent per annum. They are expected to be issued on June 6, 2013.
The issue attracted healthy interest, with order book closing at S$350 million.

Most of the interest came from Singapore. Retail investors accounted for 48 per cent, fund managers 38 per cent, banks 11 per cent and others, 3 per cent.