Popiah King’s Midas touch

Popiah King’s Midas touch

Investors see him as the man with the Midas touch, but billionaire businessman Sam Goi says he is uneasy when people rush into buying shares just because he has made an investment.

The Sam Goi effect, as it is known, has occurred a number of times this year after Mr Goi made significant investments in local companies, including Global Yellow Pages.

News of his interest is enough to convince many investors and traders that the share must be a winner and they jump on the bandwagon.

But Mr Goi, 64, says the faith others put in his judgment is stressful.

"I don't want those investors who follow me to suffer losses, and I feel very bad if they do because they put their trust in my investment decisions," he adds.

"As a result, I've become even more cautious about the companies I buy into. But I'd like to remind investors - I'm no god, please do not follow me blindly."

You cannot blame other investors for backing the same horse as Mr Goi.

On Feb 20, a day after Mr Goi's buy-in, Yamada's shares surged 126 per cent to close at 30.5 cents while JB Foods' stock added as much as 30.6 per cent at one point on Jan 24 - a day after Tee Yih Jia's investment was announced - before closing 27.4 per cent up.

While Mr Goi is becoming increasingly well known for his share market forays, he is still regarded by most as the "Popiah King" - and for good reason.

He remains executive chairman of Tee Yih Jia, which manufactures more than 30 million pieces of frozen popiah skin daily.

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