NOMINEE FOR BUSINESSMAN OF THE YEAR AWARD
Sam Goi Seng Hui, 65
Executive Chairman
Tee Yih Jia Group
Personal Background
Executive Chairman of Tee Yih Jia Group, Mr Sam Goi was ranked by Forbes Asia in
July last year as the 11th richest man in Singapore with a net worth of US$2 billion and
has made it to the Forbes World’s Billionaires list this year, ranked 882nd out of 1,426.
With Singapore as its manufacturing base and Group headquarters, Tee Yih Jia
produces its world-famous spring roll skins and a wide range of ready-to-eat Asian
convenience foods such as spring rolls, roti paratha, crepes, mini prawn rolls, glutinous
rice balls and samosas. Apart from its state-of-the-art factory in Senoko, comprising a
gross area of over 400,000 square feet, and another 200,000-square-feet factory in
Johor (Malaysia), the Group also has manufacturing plants in China, Europe and USA.
It currently sells Asian food in over 63 countries, including North America, Europe,
Russia, the Middle East and Asia Pacific. It is the largest spring roll pastry manufacturer
in the world, with production output running in the billions of pieces of pastry exported
around the world.
Business Model
Leveraging on Technology to Transform a Traditionally Labour-Intensive
Business
Tee Yih Jia began as a small, labour-intensive spring roll pastry producer in 1969. Mr
Goi acquired the company from its founders in 1977 and re-engineered the business by
automating the manufacturing and quality control processes. After two years of research,
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he successfully developed a fully automated popiah skin manufacturing system. Daily
production leaped from 30,000 sheets to 35 million sheets today.
Mr Goi then developed an aggressive export strategy to market spring roll pastry
overseas, targeting initially at the overseas Chinese populations in gateway cities around
the world. Today, 90% of its products are exported, not only to Asian communities
worldwide, but also to the emerging Middle-East and South African markets.
He also industrialised and transformed the production of roti paratha using automated
machines, making the production very much quicker. Even the machines used in the
factory currently, were designed by Mr Goi himself.
From a local, semi-mechanised player, Tee Yih Jia has grown from strength to strength,
and has established itself as a global food manufacturer, penetrating into traditionally
difficult and mainstream markets such as Europe and USA. Since 1988, Tee Yih Jia has
established a strong presence in California, USA with its two facilities producing
Japanese noodles, cookies and cultured milk drinks.
In 1988, Tee Yih Jia built a plant in Fuqing, Fujian Province to manufacture spring rolls,
samosas and biscuits. Besides being the first food processing company in Fujian to
attain HACCP certification and ISO 9002, it was also the first to receive European Union
clearance for the export of fishery products to Europe.
The new millennium marked the move of Tee Yih Jia’s operation to its S$100 million
Senoko facility in March 2000. With the use of state-of-the-art technology and integrated,
fully-automated manufacturing processes, the quality of Tee Yih Jia’s products has been
raised to the highest possible level, to attain HACCP and BRI certifications.
Tee Yih Jia’s success is the result of the deliberate and sustained effort from Mr Goi.
From the time he acquired the company, he had been relentless in his pursuit of
excellence in product quality, brand, sales network and innovation.
Once identified by the Singapore Economic Development Board as a promising local
enterprise, Tee Yih Jia has achieved its present status by targeting a specialist market,
building an international sales network, maintaining a high commitment to quality and
using modern technology.
Awards and Accolades
Tee Yih Jia has won many accolades and awards over the years. In 1986, it was the
first medium-sized company to receive the “National Productivity Award” for its emphasis
on research and development, quality control, and marketing strategies. That year, Tee
Yih Jia was also first in receiving the “Business Times/DHL International Enterprise
Award”.
Known for its quality, Tee Yih Jia’s spring roll pastry won the prestigious “Monde
Selection’s Gold Medal” in 1989, while its samosas clinched the 1987 “SIFST Best
Product Award”. After 6 years as one of Singapore’s best 50 companies in the
Enterprise 50 awards, Tee Yih Jia emerged as the top winner in 2000. In 2010, Tee Yih
Jia was awarded AVA Food Safety Excellence Gold Award in recognition of its efforts to
maintain “A” grade in food safety for 15 consecutive years.
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Going forward, in order to propel Tee Yih Jia into the next phase of growth, Mr Goi
intends to focus on a two-pronged growth strategy: sustained organic growth and forging
strategic partnerships with other leading food and beverage company in a global context.
Astute Investor
Mr Goi has developed a reputation for spotting companies with good long-term potential.
His portfolio, valued at over S$800 million, includes companies in food and beverage,
consumer essentials, recycling, mobile and web solutions, distribution and logistics. He
invests in his personal capacity, as well as for the company.
Turning Around and Transforming a Watch-list Company
Mr Goi identified Mainboard-listed JEL Corporation (JEL) as a company with sound
management fundamentals and potential and in May 2012, he invested a total of S$14
million to take a 50.5% stake in JEL, becoming its largest shareholder and NonExecutive Chairman. JEL subsequently was renamed Global Strategic Holdings Corp
(GSH).
The shares placement exercise allowed GSH, which had been on the Singapore
Exchange’s watch list since March 2010, to exceed SGX-ST’s market capitalisation
criterion. Mr Goi’s confidence in GSH also helped the Group to raise more funds through
a rights issue in 2012which funded the total discharge of its bank debts. Moreover, with
the Group returning to profitability in FY2011, it was successfully removed from the
watch list on 4 September 2012.
A revitalised GSH has since attracted more investor attention with Lippo Group and a
private equity fund, SkyVen Growth Opportunities Fund, taking up stakes in GSH.
With Mr Goi on Board, GSH has successfully raised approximately S$300 million to build
up its war chest, in preparation for its new expansion blueprint.
Leveraging on his extensive business network, Mr Goi has been instrumental in
transforming GSH into a strategic investment holding company and leading its business
diversification efforts in overseas property markets.
Most recently, GSH made its first foray into property development in Malaysia by
acquiring a 5,900-sqm prime land parcel in Kuala Lumpur’s Golden Triangle for
RM132.4 million (S$51.4 million), with a plan to develop this into a residential and
commercial project.
On 1 January 2014, GSH acquired The Sutera Harbour Group, which owns the Sutera
Harbour Resort. It operates two five-star hotels in Kota Kinabalu, Malaysia, as well as
the 104-berth Sutera Harbour Marina & Country Club, which boasts a 27-hole
championship golf course.
GSH has agreed to acquire stakes in two land parcels measuring 12.1 acres and 13.11
acres respectively, within the 384-acre Sutera Harbour property where Sam will site two
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luxury condominium projects. Together with the two land parcels, the total consideration
for the Acquisitions amounted to more than RM1 billion.
Mr Goi was re-designated as GSH’s Executive Chairman on 1 January 2014.
2013 – A Banner Year
Last year (2013) Mr Goi made strategic investments in several SGX-listed companies as
part of his investment plan.
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Investment of S$14.99 million in Etika International Holdings, which
manufactures and distributes sweetened condensed milk and evaporated milk.
Investment of S$21.6 million in JB Foods Limited, a cocoa ingredient producer
S$9.8 million investment in Yamada Green Resources Limited, a mushroom
grower and processed food producer
S$5,84 million investment in Global Yellow Pages Limited, a multi-platform
solution company
Long-term Investor
Mr Goi sees himself as a long-term investor. A case in point is his investment in Super
Group Limited which can be traced back to as early as 1998, when he bought the
shares at only 19 cents. Today, he holds close to 15% stake in Super Group and is the
Vice-Chairman and Non-Executive Director.
With presence in 52 countries around the world today, Super Group has emerged as
one of the leading food and beverage companies in Asia. Some see Super Group as the
best takeover option for beverage companies to get a share in Asia’s fast-expanding
instant-coffee market.
Landed Gentry in China
Mr Goi is also a discerning investor in China, especially in the property sector. He
started acquiring land in China in 2003 when prices were low and now controls large
parcels.
His privately owned Yangzhou Junhe Holdings, set up in 2006, has built three
residential projects in Yangzhou. Its biggest project is on a 100-acre coastal site
acquired from state-owned Tianjin Central Fishery Base Development in early 2011. It is
expected to generate revenues of $2.9 billion when completed in 2018.
In 2010, Mr Goi also signed an agreement with the Chinese government to develop a
food industry park in Tianjin for a total investment of $250 million.
TYJ Group’s success globally has also attracted collaboration interests from established
food players in China.
In October 2013, TYJ Group has signed a Memorandum of Understanding with Tianjin’s
renowned Goubuli Group（狗不理集团）, which is one of the longest established food
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brands in Tianjin. The enterprise has a 150-year-old history and is famous for their buns
in China. The partnership will leverage TYJ’s global distribution network in over 50 cities
to distribute Goubuli’s industrial and food products to Asia Pacific.
Personal Qualities
Integrity
Mr Goi is noted among his peers for his integrity and confidence in everything he does.
He is focused, committed and determined to achieve his goals and dreams.
Like the Chinese saying, “天时地利人和” which describes timing as a key factor to
business success – Mr Goi believes in being at the right place, doing the right thing,
having the right people, and above all, sharing his success and contributing to society.
Entrepreneurial Abilities
In his first venture, Mr Goi lost the S$10,000 that his father loaned to him within 8
months.
However, in a testimony of his determination and perseverance, he never gave up but
pushed himself to achieve his goals and his dreams.
In 1977, he acquired a small popiah-making business Tee Yih Jia which was then a
small, semi-mechanised factory making popiah skins for the local market. He saw the
potential of exporting popiah skins to countries outside Singapore by fully-automating its
production.
His engineering background helped him to fully-automate the factory. He studied the
entire production process, and identified ways to make popiah skins faster, and
achieving better quality that the international market would accept.
All the machines in the factory were designed by him, even the one that he has today.
In 1999, Tee Yih Jia launched Spring Home’s frozen roti paratha. The fully-automated
machine was also designed by Mr Goi after months of observing how the roti paratha
man flips and stretches the dough.
Besides fully mechanising the entire production process, he identified key export
markets such as Australia, UK and the US.
Today, Tee Yih Jia exports more than 90% of its products.
Mr Goi also ventured into China in the early years first with his food business and
subsequently in real estate. His privately-owned Yangzhou Junhe Holdings is a major
residential developer in Yangzhou.
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Contribution to Singapore's Development
Mr Goi believes that he owes his business success to his family and the community at
large. Hence, he contributes actively and generously to several organisations and
associations in industries such as education, sports and the arts. His monetary as well
as service contributions have had a great impact in sculpting Singapore’s development,
and nurturing the next generation of leaders.
An active corporate citizen, Sam Goi serves as Chairman on many committees such as
the Dunman High School Advisory Committee, as well as the Ulu Pandan Citizens’
Consultative Committee, where he helped raise a record S$3.55 million for the Ulu
Pandan Community Centre Building Fund. In 1990, TYJ sponsored and commissioned
the eight sculptures of the Chinese legendary heroes at Marina City Park’s Sculpture
Garden. In 2003, TYJ donated S$1 million to the Lee Kuan Yew School of Public Policy.
Sam Goi also sits on the board of numerous committees such as Kong Hwa School
Alumni, Singapore Table Tennis Association, Tan Kah Kee Foundation and the Nanyang
Gwee Clan Association. He also serves in the New University Steering Committee at the
Ministry of Education’s new publicly-funded university - Singapore University of
Technology and Design (SUTD) opened in 2011.
Education is one cause that he holds dearly. Mr Goi has donated more than S$1.5
million to his alma mater, Dunman High School, over the years. In 2012, he contributed
S$500,000 to the Lee Kuan Yew Fund for Bilingualism, which promotes bilingualism
from as early as pre-school.
Last year, Mr Goi continued to contribute to Singapore’s education by actively
raising fund for SUTD as part of its efforts to celebrate Singapore’s founding
Prime Minister Mr Lee Kuan Yew’s 90th birthday. SUTD had raised more than
S$100 million as of September 2013, which will be used to nurture a new
generation of leaders and innovators as well as develop programmes to promote
innovation. In his personal capacity, Mr Goi has pledged S$5 million donation to
the fundraising.
A member of Business China and Singapore Manufacturers’ Federation, Mr Goi also
serves as the Enterprise 50 Club’s Honorary Past President and is IE Singapore’s
regional representative for Fuzhou City and Fujian Province. He is currently the
Honorary Chairman for the International Federation of Fuqing Association and is a
council member for the Singapore Zhejiang Economic & Trade Council.
In recognition of his leadership in community service, Mr Goi was awarded the Public
Service Star (BBM) in 2004 and the “Leadership Award in Philanthropy” from Singapore
Tatler magazine in 2005. More recently, Mr Goi’s business achievements have also
received recognition by Singapore Tatler at its 2011 “Leadership in Business” Awards.
Among other accolades, TYJ was awarded first place among Singapore’s best 50
companies in Year 2000’s Enterprise 50 Awards and was a winner of Ernst & Young’s
“Entrepreneur of the Year” Award 2004 (Services and Business Products category).
His contribution to the society has been recognised by Forbes Asia which includes Mr
Goi in its annual “Heroes of Philanthropy” list. The list, often known as the region’s “most
remarkable givers”, includes 48 philanthropists in the region.
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Highlights of Mr Goi’s donation
 2013: pledged S$5 million donation to SUTD’s fund raising to celebrate former
Prime Minister Mr Lee Kuan Yew’s 90th birthday
 2012: donated S$500,000 to the Lee Kuan Yew Fund for Bilingualism
 To date donated more than S$1.5 million to his alma mater, Dunman High
School
 2003: donated S$1 million to the Lee Kuan Yew School of Public Policy
 Helped raise a record $3.55 million for the Ulu Pandan Community Centre
Building Fund
 1990: Tee Yih Jia sponsored and commissioned the eight sculptures of the
Chinese legendary heroes (the work of 70 master craftsmen in China) at Marina
City Park’s Sculpture Garden. They have since been relocated to the Chinese
Garden in 2007.
Mr Goi on board of various committees
 Chairman of the Ulu Pandan Citizens’ Consultative Committee
 Chairman of the Dunman High School Advisory Committee
 Honorary President of the Kong Hua School Alumni
 Honorary Chairman for the International Federation of Futsing Association
 Honorary President of Singapore Table Tennis Association
 Management committee member of the Tan Kah Kee Foundation
 Council member of Nanyang Gwee Clan Association
 Trustee of Singapore University of Technology and Design (SUTD)
 Member of the Chinese Development Assistance Council Board of Trustees
 Honorary Life President of the Enterprise 50
 Regional representative for Fuzhou City and Fujian Province
 Honorary council member of the Singapore Chinese Chamber of Commerce &
Industry (SCCCI)
 Council member for the Singapore Zhejiang Economic & Trade Council
Mr Goi has received awards in recognition of his contribution to the society
 Public Service Star (BBM) in 2004
 “Leadership Award in Philanthropy” by Singapore Tatler magazine in 2005\
 Among the 48 philanthropists in the annual “Heroes of Philanthropy” list by
Forbes Asia in 2013
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