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Png's Business Report Card!
8 companies wound up in 12 years - as reported in myPaper pg B2
The momentum of by-election in Hougang is now in full swing, Png Eng Huat appears as the Workers' Party candidate for the first time on May 11. He made a brief introduction at a press conference, said he is "semi-retired". Some of his personal profile also stated that he was a "businessman".
Recently, an email from an individual, who claims to be a “business associate” of Png Eng Huat, shed a little light on Png’s. He said that Png Eng Huat and Yaw Shin Long are similar; that both have set up many companies, and served as a director of many companies.
"......Was the Media unaware of how ‘mysterious’ Png Eng Huat is? How much of his background do we understand? What industries was he involved in? How many are still operational? For the companies which closed down, what were the causes?
After all, managing a constituency is more complex than managing a company. Voters have a right to know, Png’s business background. If he is elected to become a Member of Parliament, he will have to manage a large amount of funds for the Town Council. "
According to information from the Accounting and Corporate Regulatory Authority (ACRA), from 1990 to 2002, Png Eng Huat was involved in 11 companies, holding the title of Director, Executive Director and shareholder.
But in the last 12 years, 8 have been closed and only 3 are still in operation.
Png said,” When a chance presented itself, I will just do it.”
When discussing about his records of closing down eight companies in the past 12 years, Png replied, "When the opportunity presents itself, I will just do it. When I feel that I have done enough, I start to slow down. A business cannot be closed down so easily, it is impossible to simply say 'bye' to the customers and walk away, I have to ensure it goes through different stages, before winding up a business."
Png Eng Huat said that he started his semi-retirement state at the age of 40. The companies which are still in operation, he has also been gradually handing over to his subordinates to."I spend a lot of time to get involved in politics, and I am beocming increasingly active."
Only a flower shop is still in business
According to ACRA's information, Png Eng Huat is currently director and shareholder of, Flori-Art, Globalised Market Traders and Madcow International.
Flori-Art is a florist located in the Chinatown vicinity, but our reporter visited several times and found out that it is not doing a florist store business and the office is often empty.
The staff said that their company has a 20-year history, the main business is “supplier of flowers".
Png Eng Huat said that he occasionally went to the shop to ensure that everything is running well. Staff describes him as an amiable boss who works together to solve any problems that the employees encounter.
For the production of greeting cards, he open a company
Our reporter discovered that Globalised Market Traders and the Madcow International only consist of a Secretariat, and does not have any office.
Png Eng Huat said that, Madcow International, is a company in the business of production of greeting cards, but this company is not currently active.
"At that time, we want to make a number of greeting cards, and so I started this company, after the end of the project, the company is in a dormant state."
As for Globalised Market Traders, Png Eng Huat said, it is a trading company, (primarily responsible for interest payments and repurchase the debt, and to send the interest paid to shareholders every quarter), However, Png Eng Huat said that he is not actively participating in this company's business
后港补选进入最后的阶段。工人党候选人方荣发于本月11日首次以候选人的身份出现，他在记者会上做了一个简略的介绍，说他处于“半退休状态”。他的一些履历资料则注明，他是一名“商人”。
对于自己的背景、“半退休”前曾经做过什么生意等，方荣发交代得并不多。
日前，有一名声称“认识”方荣发的人告诉《我报》，方荣发和饶欣龙有一个相似之处，两个人都曾经设立过很多公司，并且担任过很多公司的董事和股东。
“……媒体难道没有察觉，方荣发是个很‘神秘’的人？他的背景大家了解多少？他所经营过的生意，到底是哪些行业？多少家还在运作？那些关掉的公司，到底是因为什么原因结束？媒体为何没有叫方荣发更详细地介绍他自己？毕竟，管理一个选区比管理一家公司复杂得多了。”
根据会计与企业管制局（ACRA）的资料显示，方荣发从1990年至今，是11家公司的董事、执行董事及股东。
但是，从1990年至2002年的12年内，其中8家已经结束营业，目前只有3家仍在营业状态中。
对于自己在12年内关掉8家公司的记录，方荣发受询时说：“当机会来的时候，我就会去做。当我认为，已经做得足够了，我就开始放慢脚步。不可能那么轻易就结束一门生意，也不可能跟顾客说‘拜拜’就走人，一定要经过不同的阶段，好好把生意结束。”
方荣发说，他40岁开始进入半退休状态，一些还在经营的公司，也已经逐渐交给下属去打理。“现在，我花很多的时间搞政治，在政治上越来越积极。”
花店仍在营业
根据ACRA的资料显示，方荣发目前是Flori-Art、Globalised Market Traders和Madcow International的董事和股东。
据本报了解，Flori-Art是一家位于牛车水一带的花店，记者上门时发现，它并不是一家做门市生意的花店，所以，店里虽然有职员，但办公室的门锁着。
据职员说，公司有20年历史，主要做的是“供应花卉”的生意。方荣发说，他偶尔会到花店走动，确保一切没有问题。职员形容方荣发是一个和蔼可亲的老板，员工遇到问题，他会和大家一起解决。
方荣发说，Madcow International是一家制作贺卡的公司，但是，这家公司目前并不处于活跃状态。
“当时，我们要制作一批贺卡，我便开了这家公司，项目结束后，这家公司就处于冬眠状态。”
而Globalised Market Traders，方荣发说，那是一家做投资贸易的公司，进行一些赚取利息支付，或回购债务的投资。不过，方荣发也表示，他并不积极参与这家公司的业务。
8 companies wound up in 12 years - as reported in myPaper pg B2
The momentum of by-election in Hougang is now in full swing, Png Eng Huat appears as the Workers' Party candidate for the first time on May 11. He made a brief introduction at a press conference, said he is "semi-retired". Some of his personal profile also stated that he was a "businessman".
Recently, an email from an individual, who claims to be a “business associate” of Png Eng Huat, shed a little light on Png’s. He said that Png Eng Huat and Yaw Shin Long are similar; that both have set up many companies, and served as a director of many companies.
"......Was the Media unaware of how ‘mysterious’ Png Eng Huat is? How much of his background do we understand? What industries was he involved in? How many are still operational? For the companies which closed down, what were the causes?
After all, managing a constituency is more complex than managing a company. Voters have a right to know, Png’s business background. If he is elected to become a Member of Parliament, he will have to manage a large amount of funds for the Town Council. "
According to information from the Accounting and Corporate Regulatory Authority (ACRA), from 1990 to 2002, Png Eng Huat was involved in 11 companies, holding the title of Director, Executive Director and shareholder.
But in the last 12 years, 8 have been closed and only 3 are still in operation.
Png said,” When a chance presented itself, I will just do it.”
When discussing about his records of closing down eight companies in the past 12 years, Png replied, "When the opportunity presents itself, I will just do it. When I feel that I have done enough, I start to slow down. A business cannot be closed down so easily, it is impossible to simply say 'bye' to the customers and walk away, I have to ensure it goes through different stages, before winding up a business."
Png Eng Huat said that he started his semi-retirement state at the age of 40. The companies which are still in operation, he has also been gradually handing over to his subordinates to."I spend a lot of time to get involved in politics, and I am beocming increasingly active."
Only a flower shop is still in business
According to ACRA's information, Png Eng Huat is currently director and shareholder of, Flori-Art, Globalised Market Traders and Madcow International.
Flori-Art is a florist located in the Chinatown vicinity, but our reporter visited several times and found out that it is not doing a florist store business and the office is often empty.
The staff said that their company has a 20-year history, the main business is “supplier of flowers".
Png Eng Huat said that he occasionally went to the shop to ensure that everything is running well. Staff describes him as an amiable boss who works together to solve any problems that the employees encounter.
For the production of greeting cards, he open a company
Our reporter discovered that Globalised Market Traders and the Madcow International only consist of a Secretariat, and does not have any office.
Png Eng Huat said that, Madcow International, is a company in the business of production of greeting cards, but this company is not currently active.
"At that time, we want to make a number of greeting cards, and so I started this company, after the end of the project, the company is in a dormant state."
As for Globalised Market Traders, Png Eng Huat said, it is a trading company, (primarily responsible for interest payments and repurchase the debt, and to send the interest paid to shareholders every quarter), However, Png Eng Huat said that he is not actively participating in this company's business
后港补选进入最后的阶段。工人党候选人方荣发于本月11日首次以候选人的身份出现，他在记者会上做了一个简略的介绍，说他处于“半退休状态”。他的一些履历资料则注明，他是一名“商人”。
对于自己的背景、“半退休”前曾经做过什么生意等，方荣发交代得并不多。
日前，有一名声称“认识”方荣发的人告诉《我报》，方荣发和饶欣龙有一个相似之处，两个人都曾经设立过很多公司，并且担任过很多公司的董事和股东。
“……媒体难道没有察觉，方荣发是个很‘神秘’的人？他的背景大家了解多少？他所经营过的生意，到底是哪些行业？多少家还在运作？那些关掉的公司，到底是因为什么原因结束？媒体为何没有叫方荣发更详细地介绍他自己？毕竟，管理一个选区比管理一家公司复杂得多了。”
根据会计与企业管制局（ACRA）的资料显示，方荣发从1990年至今，是11家公司的董事、执行董事及股东。
但是，从1990年至2002年的12年内，其中8家已经结束营业，目前只有3家仍在营业状态中。
对于自己在12年内关掉8家公司的记录，方荣发受询时说：“当机会来的时候，我就会去做。当我认为，已经做得足够了，我就开始放慢脚步。不可能那么轻易就结束一门生意，也不可能跟顾客说‘拜拜’就走人，一定要经过不同的阶段，好好把生意结束。”
方荣发说，他40岁开始进入半退休状态，一些还在经营的公司，也已经逐渐交给下属去打理。“现在，我花很多的时间搞政治，在政治上越来越积极。”
花店仍在营业
根据ACRA的资料显示，方荣发目前是Flori-Art、Globalised Market Traders和Madcow International的董事和股东。
据本报了解，Flori-Art是一家位于牛车水一带的花店，记者上门时发现，它并不是一家做门市生意的花店，所以，店里虽然有职员，但办公室的门锁着。
据职员说，公司有20年历史，主要做的是“供应花卉”的生意。方荣发说，他偶尔会到花店走动，确保一切没有问题。职员形容方荣发是一个和蔼可亲的老板，员工遇到问题，他会和大家一起解决。
方荣发说，Madcow International是一家制作贺卡的公司，但是，这家公司目前并不处于活跃状态。
“当时，我们要制作一批贺卡，我便开了这家公司，项目结束后，这家公司就处于冬眠状态。”
而Globalised Market Traders，方荣发说，那是一家做投资贸易的公司，进行一些赚取利息支付，或回购债务的投资。不过，方荣发也表示，他并不积极参与这家公司的业务。
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... it surely has cum from sum1 who never haf own biz n oni noe how 2 take orders from others ...
