Chang Cheng F&B group gives out at least 100 gold plaques worth over $500k to long-serving employees

Long-serving employees of local food and beverage company Chang Cheng Holdings were presented with gold plaques in recognition of their service during the company's 32nd anniversary celebration recently.

The banquet, held at the Fairmont Singapore on Friday (Feb 6) from 10pm to 1am, had over 100 tables and featured live performances, a lucky draw, and delicacies such as abalone, reported Shin Min Daily News.

More than 100 employees who have served in the company for over 10 years, regardless of their positions, were presented with plaques reportedly weighing between 20 and 30 grams.

The weight varied according to the employees' years of service. 

Staff with 10 to 14 years of service received 20g of gold, 15 to 19 years received 25g, and those with 20 years or more received 30g, reported the Chinese evening daily.

Each plaque is said to be crafted from 999 gold — the purest grade of the precious metal — engraved with the employee's years of service, and the plaque's weight. 

The awards were presented in red gift boxes from local jewellery retailer SK Jewellery and framed in transparent holders, with the employees' names printed at the bottom, reported Shin Min.

According to SK Jewellery's website, 20g of 999 gold costs about $5,420, bringing the estimated value of 100 plaques to approximately $542,000, if not more.

A senior employee, who wished to be known only as Li, told the Chinese daily that the company banquet is held every few years and that it was his turn to receive an award this time around.

"I'm very happy and will keep this as a memento to pass it on to my son," said Li, who received a 25g gold plaque after being with the company for 19 years.

Rolex watches among past rewards 

According to Chang Cheng Holdings' website, the company began as a Chinese mixed rice stall in 1994 and now operates around 160 restaurants and more than 30 coffee shops, along with 16 catering brands. It has a reported staff strength of around 1,200.

Its founder and executive chairman, Ricky Kok, told Shin Min that the awards were a gesture of appreciation for employees' hard work and dedication.

"They have been with us through thick and thin. I just want to thank everyone from the bottom of my heart," he said, adding that the company will continue exploring ways to reward its staff. 

In addition to the award, outstanding stalls with high sales volumes also received a $1,500 bonus which was distributed by the stall managers.

According to some employees, the company had previously rewarded long-serving staff with gifts such as Rolex watches.

A coffee shop manager, who declined to be named, told Shin Min Daily News: "A few years ago, I saw my colleagues wearing Rolexes, and this time I received a gold medal. It's all thanks to the boss' kindness, and I will cherish it."

AsiaOne has reached out to Chang Cheng Holdings for more information.

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xingying.koh@asiaone.com