Serious Singapore is now Worst than PRC - Everything is State Owned Enterprise

Eu Yan Sang Gets Buyout Offer Including From Temasek Unit

Eu Yan Sang International Ltd. has received a takeover bid from a group that includes a unit of Singapore state investment company Temasek Holdings Pte, valuing the retailer of traditional Chinese medicines such as bird’s nest soup and ginseng capsules at about S$269 million ($196 million).

The S$0.60 per share offer, which is final and excludes the interim dividend, is from a consortium comprising Temasek’s indirect wholly owned unit Blanca, Tower Capital TCM Holdings LP and some members of the founding Eu family, Singapore-based Eu Yan Sang said in a statement early Monday.

Eu Yan Sang fell 4.7 percent to S$0.615 by the close in Singapore after resuming trading. The shares had been halted since May 10, after they surged 10.3 percent to S$0.645 and prompted a query by the exchange. An external spokesman for Eu Yan Sang declined to comment on the trading in the company’s shares.

About 63.2 percent of shareholders have committed to accept the offer, including members of the Eu family, Aberdeen Asset Management Asia Ltd. and First State Investment Management (UK) Ltd., Eu Yan Sang said.

The consortium’s offer is attractive “considering the company’s recent financial performance and the current challenging environment it is operating in,” said Danny Koh, Tower Capital founder, in the statement. The acquisition “will allow the new investors to partner with the participating Eu Family shareholders in their efforts to reinvigorate the company’s businesses.”

Profit Plunged

Eu Yan Sang, whose founder opened the first shop in Malaysia in 1879 and has since expanded to more than 250 outlets in China, Hong Kong, Macau and Australia, reported Sunday third quarter net income slumped to S$286,000 from S$5.45 million a year earlier. It also proposed an interim dividend of 2.5 Singapore cents per share.

Credit Suisse Group AG is acting as financial adviser to the offerers, and UOB Venture Management Pte is one of the investors in Tower Capital, according to Eu Yan Sang’s statement. Eu Yan Sang’s takeover offer follows a proposal in April by Osim International Ltd. founder and Chief Executive Officer Ron Sim to take his company private.

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Eu Yan Sang would be better run under the Eu family, not TH. It's their baby while to TH, it's just a digit in their vast conglomerate. Also, TH's record in turning their investments into huge winners is lousy. They should stick to making safe investments and collecting more money from taxpayers through CPF monies converted into government securities/bonds.

Another failed sinkapore business.

winnipegjets said:

Another failed sinkapore business.

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My late mother never buy her herbs & medicines from Eu Yang Seng , when we lived in Chinatown, when young, even until she passes on, NEVER!. She says their herbs are craps & expensive & buys them throughout her life from Wong Yue Lam ( still in Chinatown), in which I took over the buying for her from that shop & till this day, still buys from them.

Not surprising...that EYS....business model failed....just like the people they associate themselves with..."the chili craps" people...so what do you expect....nobody misses them...

Pinkieslut said:

Eu Yan Sang Gets Buyout Offer Including From Temasek Unit

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Should be :"Singapore is now Worse than PRC

"Worse" is comparative.

"Worst" is superlative.


Read the link in my signature.

Leongsam said:

Should be :"Singapore is now Worse than PRC

"Worse" is comparative.

"Worst" is superlative.


Read the link in my signature.

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Explain compative and supertive also.

EYS is an interesting company and business. When Richard Eu took over he completely changed how the business was done. He was the first to go back to bricks and mortar. He hired marketing staff from banks and fast moving consumer products to do a makeover. I remember when he wanted to open in Australia I had my doubts. Frankly no idea why he wants to take over the business which at that time had only one store.

scroobal said:

EYS is an interesting company and business. When Richard Eu took over he completely changed how the business was done. He was the first to go back to bricks and mortar. He hired marketing staff from banks and fast moving consumer products to do a makeover. I remember when he wanted to open in Australia I had my doubts. Frankly no idea why he wants to take over the business which at that time had only one store.

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In my late mother's time & my opinion of them till now, they are just another medical hall, whose prices are much more expensive than others & was not known to be "honest" to the women in those times. The only thing, I know they are " famous" for, was the, " bak foong yuen", some Chinese medicine for women's menstrual cramps or something. Back then, the sinseh have their own shop, & rarely they are found inside the medical hall. So, you go see the sinseh, & you will be given a " yuet tan" ( Rx), you go to a 'preferred' medical hall ( recommended by the sinseh) or you can go, to one of your choice & convenience.

When EYS expanded, they became jack of all trades & master of none till today......

1 quarter make less than 300K from over 250 outlets......................this kind of business also got people wanna buy over ??!!

If this take over is completed, I will stop buying anything from eu yan sang

gingerlyn said:

If this take over is completed, I will stop buying anything from eu yan sang

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They are not waiting for you to buy. Just need to mandate all sinkie oldies to buy 'tonic' herbs from EYS. Huat huat!

mojito said:

Explain compative and supertive also.

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compative and supertive are both sinkie's words , both are totally meaningless and useless just like sinkies themselves.

mojito said:

Explain compative and supertive also.

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The easiest way not to mix them up and get kan by Sam again is

Use worse when comparing 2 things
Use worst when comparing more things.

Forget about what Sam said will make things worst or worsen hehe confuse when use with will

halsey02 said:

In my late mother's time & my opinion of them till now, they are just another medical hall, whose prices are much more expensive than others & was not known to be "honest" to the women in those times. The only thing, I know they are " famous" for, was the, " bak foong yuen", some Chinese medicine for women's menstrual cramps or something. Back then, the sinseh have their own shop, & rarely they are found inside the medical hall. So, you go see the sinseh, & you will be given a " yuet tan" ( Rx), you go to a 'preferred' medical hall ( recommended by the sinseh) or you can go, to one of your choice & convenience.

When EYS expanded, they became jack of all trades & master of none till today......

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during that period Wong Yiu Nam was very successful , running the place in a friendly and cordial way.
EYS business way behind WYN , a very great distance behind.

later , EYS modernised and got listed , all the old folks at WYN retired and new young staff took over.
that's the beginning of the start of downfall for both companies.

now the number 1 brother of this trade is Teck Soon Medical Hall Pte Ltd
their shop , Teck Yin Soon , at temple street reminds me of the good old days of WYN.

Anything to do with Temasek means price hikes. You are paying for Ho Ching brand.

johnny333 said:

Anything to do with Temasek means price hikes. You are paying for Ho Ching brand.

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Probably will parachute bunch of jiak Liao bee scholars/military officers to run the company.

Pinkieslut said:

Probably will parachute bunch of jiak Liao bee scholars/military officers to run the company.

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They need to feed theses scholars because they can't survive in the real world.
Unfortunately it means the creation of another uncompetitive GLC bizness.

halsey02 said:

My late mother never buy her herbs & medicines from Eu Yang Seng , when we lived in Chinatown, when young, even until she passes on, NEVER!. She says their herbs are craps & expensive & buys them throughout her life from Wong Yue Lam ( still in Chinatown), in which I took over the buying for her from that shop & till this day, still buys from them.

Not surprising...that EYS....business model failed....just like the people they associate themselves with..."the chili craps" people...so what do you expect....nobody misses them...

Click to expand...

Thanks for the valuable tip! Must always buy herbs from the right people. EYS is more packaging than value for money!

JohnTan said:

Eu Yan Sang would be better run under the Eu family, not TH. It's their baby while to TH, it's just a digit in their vast conglomerate. Also, TH's record in turning their investments into huge winners is lousy. They should stick to making safe investments and collecting more money from taxpayers through CPF monies converted into government securities/bonds.

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I am glad you know that. There lies some hope in PAP　

PretenderSam said:

during that period Wong Yiu Nam was very successful , running the place in a friendly and cordial way.
EYS business way behind WYN , a very great distance behind.

later , EYS modernised and got listed , all the old folks at WYN retired and new young staff took over.
that's the beginning of the start of downfall for both companies.

now the number 1 brother of this trade is Teck Soon Medical Hall Pte Ltd
their shop , Teck Yin Soon , at temple street reminds me of the good old days of WYN.

Click to expand...

Had not popped in to WYN for ages, somewhere last year, while in Chinatown...just needed some herbs, so I went there. Like you say, the old staff had all retired or "expired"...the only one I recognised was once the JUNIOR, he is now, past senior...& mostly PRC's...what had happened to the locals?

As for friendly & helpful....a far cry from the old days...