Savvy investor

by **Cals** Mon 03 Mar 2014, 01:14

Published: Saturday March 1, 2014 MYT 12:00:00 AM
Updated: Saturday March 1, 2014 MYT 11:53:52 AM
Savvy investor

IN June 2012, Tan Sri Clement Hii surprised the market by emerging as a substantial shareholder in loss-making rubber wood furniture maker SYF Resources Bhd.

He had then bought a 10% stake in SYF through his private investment vehicle HCK Equities Sdn Bhd.

The next few months saw Hii gradually increasing his stake in SYF to the current 20% held through HCK.

In an interview with The Star early last year, Hii said SYF had a lot of synergies with his property business. He reckoned that his property business would be able to provide a stable market for SYF’s furniture as well as fit-out services.

SYF had been in a loss-making position from its financial years ended July 31, 2007, to 2011. The company only returned to the black in 2012, with a net profit of RM50.7mil.

Last year, it made a lower net profit at RM11.9mil. Taking the position of a non-executive director, Hii, to a large extent, is not the main driver of SYF.

“My input will be at the board level, from which I will help secure more business opportunities so that the team can take SYF to the next level,” Hii was quoted as saying, adding that he had full confidence in the SYF team, led by his friend and executive chairman/chief executive officer of the company, Ng Ah Chai, who owned about a 25% stake in SYF.

Apart from having high level positions at SYF and private investment holding HCK group, Hii is also the group managing director of SEG International Bhd (SEGi) that runs SEGi University group.

He is the founder of SEGi and plays a crucial role in driving the growth of the education services provider group.