What a change of fortune for Fu Yu Corporation (“Fu Yu Corp”) since the original owners sold off the business to the new owner. Fu Yu Corporation was sold by its founding shareholders-Ching Heng Yang, Tam Wai, Ho Nee Kit, and Hew Lien Lee- to a fund managed by Pilgrim Partners on 18 January 2021. On that date, Pilgrim Partners’ vehicle acquired approximately 29.8% of the company (around 224 million shares) at S$0.26 per share, in a deal valued at roughly S$58.3 million. From a former superhero dividend cash cow generator, Fu Yu Corp has unfortunately became a shadow of its former self.
1. Opening of Smart Factory and Venture into Bio-medical Market Segment
Apparently, the opening of the smart factory which have state of the art technologies such as 3D printing and automation in Singapore as well as the new strategic growth into bio-tech sector, did not boost revenue and net profit. Worse still, the business
…
