WORST AND BEST BETS

Q: What is your worst investment to date?

In 2001, I invested $1.25 million in a property firm and became its sleeping partner. The firm was set up to take some old, low-rise residential properties through an en-bloc exercise.

But it did not work out because the planning approval to build condominiums on that piece of land was rejected by the Urban Redevelopment Authority.

I got back $500,000 when I liquidated my investment six months later, which means I lost $750,000.

Q: And your best investment to date is?

It is in Goodrich, which has 18 overseas offices now.

The initial paid-up capital in 1983 was $175,000, of which I forked out half. I now own about 46 per cent of the firm.

My partner owns another 46 per cent, and the rest of the shareholding is given to staff who have contributed to the success of Goodrich.

As of December last year, the firm's turnover was $70 million and the profit was about $4 million to $5 million.

This article was first published in The Straits Times.

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