SingHaiyi’s strategy to grow via acquisitions

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/ EdgeProp
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August 25, 2017 12:30 PM SGT
Celine Tang, wife of Chinese tycoon Gordon Tang, wears many hats. The mother of three was appointed group managing director of Singapore- listed property development and investment firm SingHaiyi Group in December 2013. Last August, Tang was also named executive chairman and CEO of Singapore-listed OKH Global, which focuses on the development of industrial and logistics properties.
Tang says SingHaiyi is in the midst of diversifying into commercial property
Originally from Shantou, a prefecture- level city on the eastern coast of Guangdong, Tang graduated from China People’s University for Police Officers, now known as People’s Public Security University of China, with a bachelor’s degree in Literature. Before joining her husband’s business, Tang had a flourishing career in the civil service, rising through the ranks and even serving as an assistant judicial officer of the Shantou Longhu District Court from 1990 to 1994.
What is little known is that the Tangs have been in Singapore since 1995, where they are now permanent residents. The Tangs have two sons and a daughter. The elder son, 21, is in Singapore’s national service. In Singapore, the Tangs started Tang Dynasty Pte Ltd in 1995, as a trading and investment company. They then invested $100 million to establish Haiyi Holdings in 2003 as an investment holding company, focusing on international trade and financial investments.
Growth by acquisition
The Tangs were propelled into the spotlight in August 2012 when the former SingXpress Land, led by Chan Heng Fai, entered into a conditional agreement with Haiyi Holdings to subscribe for $94.4 million of cumulative convertible non-voting perpetual reference shares (NRCCPS). Following the conversion of the NRCCPS by Haiyi, the Tangs acquired a controlling interest of 62.2% in Sing- Xpress Land on Nov 27, 2012. Sing- Xpress Land was renamed SingHaiyi Group on March 12, 2013 to reflect the change in control of the company.
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Gordon then appointed Neil Bush as non-executive chairman of SingHaiyi in April 2013. Bush is the brother of Jeb Bush, former governor of Florida, as well as George W Bush, the 43rd President of the US. Their father, George H...