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Business Times
6 days ago
- Business
- Business Times
New acquisition, healthcare segment fuelling Sunningdale Tech: non-exec chairman Koh Boon Hwee
[SINGAPORE] Precision plastics engineering company Sunningdale Tech has continued to grow even after delisting from the Singapore Exchange (SGX) in 2021, and has now acquired an industry peer. The company purchased Sanwa Group for an undisclosed sum on Aug 7, with the deal expected to grow Sunningdale's revenue to S$850 million. Sunningdale's non-executive chairman Koh Boon Hwee liked this acquisition in particular as it allows a Singaporean company to remain in the hands of a Singapore business. 'I actually prefer that outcome rather than having it being sold to a non-Singaporean entity. I'm hopeful that the combination will allow both companies to continue to grow together,' Koh told The Business Times. The acquisition makes sense for Sunningdale as Sanwa's main business segment is industrial, adding on to the former's precision consumer, automotive and healthcare segments. While Sanwa has an automotive segment in its revenue stream, the products are different from Sunningdale's. This means there is no overlap of product offerings, giving Sunningdale an expanded product range in the automotive segment. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'On top of that, it brings us from 17 plants to 23 plants, and I think that's very helpful for our combined customer base,' said Koh. These plants are spread out over nine markets and most continents, which gives flexibility to Sunningdale's customers, he added. With the world unlikely to return any time soon to a global trade system that allowed goods and people to move more easily across borders, it was fortunate that Sunningdale acquired its first US plant back in 2020. The footprint of that facility has trebled since the purchase, standing it in good stead as customers there decide if they should onshore some of their production. 'The fragmentation (means that) the trading system we have been used to for the last 30 years isn't going to come back; so I have to adapt Sunningdale to this new reality,' said Koh. The acquisition of Sanwa was financed by internal resources and a 'small bank loan', he added, without Sunningdale having to turn to fundraising from external parties. Integrating the company with Sunningdale is not expected to take too long, as the intention is to retain most of its employees. Besides this acquisition, Sunningdale is also growing its healthcare segment, which has seen double-digit growth annually for the last six years, from 10 per cent of revenue in 2018 to about 30 per cent currently. The goal now is to expand the segment to more than 40 per cent in the next four years. The consumer and automotive segments will also enlarge in tandem, but due to their mature nature and reliance on macroeconomic conditions, they cannot grow as fast as healthcare, noted Koh. Sunningdale has also continued to grow organically since delisting. Growth and exits Based on filings pulled by data platform Handshakes, Sunningdale's 2024 revenue stood at S$722.7 million. The company breached S$700 million in 2021, and revenue has been above this mark since then. Earnings too have hovered around S$35 million for 2023 and 2024, with net profit margins hovering between 4 and 5.7 per cent between 2020 and 2024. The variance in earnings is due to Sunningdale's customers' product road maps, where old products may be wound down more quickly than new products are ramped up, said Koh. 'But because we are highly diversified, our business actually hasn't been that cyclical. Our growth is steady,' he noted, adding that there has not been much volatility in Sunningdale's revenue. Its team has been disciplined on costs, and ensures that no one customer accounts for more than 10 per cent of its revenue. This growth has continued despite foreign exchange headwinds, which have resulted in Sunningdale taking a 5 to 6 per cent hit in revenue. This is the main challenge the company faces – but it is on track to still expand about 1 to 2 per cent this year. Koh does not rule out a return to the SGX as part of providing a liquidity event for Sunningdale's investors, which includes its employees. But currently, plans are still open-ended, as the company has no shortage of private investors. 'There are advantages to being a private company. We are in no hurry,' said Koh. Sunningdale also would not turn down investments from parties such as 65 Equity Partners if they are open to it. But Koh noted that while SGX is an option, especially amid moves to make the local bourse more attractive, any pressure to return might not work. 'The conditions have to be correct, you can't pressure companies to do things they don't want to do.'
Straits Times
05-05-2025
- Politics
- Straits Times
GE2025: High spirits, hoarse voices as new MPs hit the ground running at Meet-the-People Sessions
East Coast GRC MP Hazlina Abdul Halim (left) at her first Meet-the-People session at Lucky Haven senior activity centre on May 5. ST PHOTO: SHERMAINE ANG GE2025: High spirits, hoarse voices as new MPs hit the ground running at Meet-the-People Sessions SINGAPORE - After nine days of marathon campaigning for the 2025 General Election, seasoned MPs and newly elected ones alike hit the ground running at Meet-the-People Sessions (MPSes) around Singapore on May 5. The Straits Times spoke to 10 MPs from both the PAP and WP, who offered a glimpse into the issues residents raised to them, and what they were doing to help. In Chua Chu Kang GRC's Brickland ward, Mr Jeffrey Siow kicked off his first MPS 30 minutes ahead of the 8pm start time, having expected more residents to show up after an extended break. MPSes had been suspended since the Writ of Election was issued on April 15. By 10pm, Mr Siow estimated he had spoken to around 30 residents, who raised issues ranging from senior care to immigration. Among those seeking his help was a non-Singaporean divorcee with three Singaporean children who sought help to extend her employment pass, so she could keep working in Singapore. 'The husband, who is supposed to help her, is not supporting her, so what can she do since her (work) pass is expiring?' said Mr Siow. '(We have to) handle these sorts of issues, often those that do not completely fit the mould.' Other residents sought help with senior care, including one who needed assistance for an elderly relative whose usual caregivers were unavailable. Such issues will become more prevalent with Singapore's ageing population, and he expects to bring them up in Parliament in his new role as MP, Mr Siow said. Mr Siow, who was formerly permanent secretary at the trade and industry and manpower ministries, said: 'We need to think about where we want to draw the line on policies and think about whether the line needs to be shifted as there are more of these cases coming up.' In East Coast GRC, Mr Dinesh Vasu Dash tapped his experience as former head of the Agency for Integrated Care (AIC) to refer one resident to an active ageing centre. The woman had wanted to help her elderly mother, who was recovering from a fall at home, stay socially connected. 'That's where I think we can try to help, by connecting (residents) to the right agencies for support,' Mr Dinesh said. Both he and his East Coast GRC counterpart, Madam Hazlina Abdul Halim, were hoarse by the end of the night. Madam Hazlina had pulled double duty with two back-to-back MPSes – one in Siglap and the other in Fengshan. In preparation for her first MPS, she had understudied former East Coast GRC MPs Cheryl Chan and Maliki Osman, as well as Ms Tin Pei Ling, who is currently an MP for Marine Parade-Braddell Heights GRC. Of this experience drafting appeals for residents, Madam Hazlina said: '(It) has really helped me to understand how agencies work in how you advocate for residents.' Other newly elected MPs were no stranger to conducting MPSes . One of these was WP MP Kenneth Tiong, who has been volunteering at the party's MPSes since 2023, before coordinating the Serangoon MPS from 2025. The ward was left vacant when Mr Leon Perera stepped down in July 2023. 'MPS is the foundation of a big majority of the policy stuff that we do, so it's always good to do (them),' said Mr Tiong, who saw about 10 residents with issues ranging from scams to municipal issues. He hopes to bring up issues such as making sure Singaporeans have a strong social safety net, and that families have strong foundations. WP Aljunied MP Kenneth Tiong greets and listens to his residents at his Meet-the-People session at 146 Serangoon North Ave 1 on May 5. ST PHOTO: HESTER TAN In the west, Jurong East-Bukit Batok GRC MP Lee Hong Chuang is also familiar with how MPSes work. He has held similar sessions to meet residents since 2015, when he was the PAP's Hougang branch chairman. He was also the losing PAP candidate for Hougang SMC in the 2015 and 2020 elections. The newly minted MP, who has taken over former MP Amy Khor's Hong Kah North ward, said he intends to meet every resident who attends his MPS personally, and to understand their circumstances. 'My style is, when I walk around the area, I will pick up cases. Those are the people who may not even walk into your MPS, but they need help,' he said. Another seasoned hand, Deputy Prime Minister Gan Kim Yong, made his debut in Punggol GRC's new Punggol Northshore ward, where a crowd had gathered for face time with the 'Task Force Man'. During the campaign, DPM Gan – who was given the moniker by Prime Minister Lawrence Wong for being on several task forces – had promised Northshore residents to address problems in the ward. He told reporters that residents raised issues such as poor phone connectivity in certain areas, which his team will work with the Infocomm Media Development Authority to tackle. DPM Gan, who is also Minister for Trade and Industry, wore a mask and had a sore throat, which he attributed to the many engagements he had after the election. 'After the campaign... I had to attend to some of the urgent meetings, so therefore I've been talking the whole day. And tonight, I talked the whole night,' he said. Deputy Prime Minister and MP for Punggol GRC Gan Kim Yong taking a group photo with volunteers after his Meet-the-People session at 402 Northshore Drive on May 5. ST PHOTO: KEVIN LIM He wrapped up the session only at 11pm, after seeing around 70 residents. Over in the east, Tampines GRC's two new faces – Dr Charlene Chen and Mr David Neo – were seen at the Tampines East MPS, which Dr Chen has been helming for about a year. Mr Baey Yam Keng, who has served in Tampines since 2011, said Mr Neo, a former army chief, will tag along with other members before potentially helming a new division that has yet to be demarcated. The constituency may see a new Tampines Boulevard ward that will mostly comprise new Build-To-Order HDB estates north of Tampines Avenue 9. Mr Baey added that residents can expect an announcement on the new ward and MPS location by the end of May. Join ST's WhatsApp Channel and get the latest news and must-reads.
Straits Times
05-05-2025
- Politics
- Straits Times
High spirits, hoarse voices as new MPs hit the ground running at Meet-the-People Sessions
SINGAPORE - After nine days of marathon campaigning for the 2025 general election, seasoned MPs and newly elected ones alike hit the ground running at Meet-the-People Sessions (MPS) around the Republic on May 5. ST spoke to 10 MPs from both the PAP and WP, who offered a glimpse into the issues residents brought to them, and what they were doing to help. In Chua Chu Kang GRC's Brickland ward, Mr Jeffrey Siow kicked off his first MPS 30 minutes ahead of the 8pm start time, having expected more residents to show up after an extended break. MPS have been suspended since the Writ of Election was issued on April 15. By 10pm, Mr Siow estimated he had spoken to around 30 residents, who raised issues ranging from senior care to immigration. Among those seeking his help was a non-Singaporean divorcee with three Singaporean children who sought help to extend her employment pass so she could keep working in Singapore. 'The husband, who is supposed to help her, is not supporting her, so what can she do since her (work) pass is expiring?' said Mr Siow. '(We have to) handle these sorts of issues, often those that do not completely fit the mould.' Other residents sought help with senior care, including one who needed assistance for an elderly relative whose usual caregivers were unavailable. Such issues will become more prevalent with Singapore's ageing population, and he expects to bring up such issues in Parliament in his new role as MP, Mr Siow said. Mr Siow, who was formerly permanent secretary at the Trade and Industry and Manpower Ministries, said: 'We need to think about where we want to draw the line on policies and think about whether the line needs to be shifted as there are more of these cases coming up.' In East Coast GRC, Mr Dinesh Vasu Dash tapped his experience as former head of the Agency for Integrated Care (AIC) to refer one resident to an active ageing centre. The woman had wanted to help her elderly mother, who was recovering from a fall at home, stay socially connected. 'That's where I think we can try to help, by connecting (residents) to the right agencies for support,' Mr Dinesh said. Both he and his East Coast GRC counterpart, Madam Hazlina Abdul Halim, were hoarse by the end of the night. Madam Hazlina had pulled double duty with two back-to-back MPS – one in Siglap and the other in Fengshan. In preparation for her first MPS, she had understudied former East Coast GRC MPs Cheryl Chan and Maliki Osman, as well as Ms Tin Pei Ling, who is currently an MP for Marine Parade-Braddell Heights GRC. Of this experience drafting appeals for residents, Madam Hazlina said: '(It) has really helped me to understand how agencies work in how you advocate for residents.' Other newly elected MPs were no stranger to conducting MPS . One of these was WP MP Kenneth Tiong, who has been volunteering at their MPS since 2023, before coordinating the Serangoon MPS from 2025. The ward was left vacant when Mr Leon Perera stepped down in July 2023. 'MPS is the foundation of a big majority of the policy stuff that we do, so it's always good to do (them),' said Mr Tiong, who saw about 10 residents with issues ranging from scams to municipal issues. He hopes to bring up issues such as making sure Singaporeans have a strong social safety net, and that families have strong foundations. In the west, Jurong East-Bukit Batok GRC MP Lee Hong Chuang is also familiar with how MPS work. Mr Lee has held similar sessions to meet residents since 2015, when he was the PAP's Hougang branch chairman. He was also the losing PAP candidate for Hougang SMC in the 2015 and 2020 elections. The newly minted MP, who has taken over former MP Amy Khor's Hong Kah North ward, said he intends to meet every resident who attends his MPS personally, and to understand their circumstances. 'My style is when I walk around the area, I will pick up cases. Those are the people who may not even walk into your MPS, but they need help,' he said. Another seasoned hand, Deputy Prime Minister Gan Kim Yong, made his debut in Punggol GRC's new Punggol Northshore ward, where a crowd had gathered for face time with the 'Task Force Man'. During the campaign, DPM Gan – who was given the moniker by Prime Minister Lawrence Wong for being on several task forces – had promised Northshore residents to address problems in the ward. He told reporters that residents raised issues such as poor phone connectivity and 'blind spots' in certain areas, which his team will work with the Infocomm Media Development Authority to tackle. DPM Gan, who is also Minister for Trade and Industry, wore a mask and had a sore throat, which he attributed to the many engagements he had after the election. 'After the campaign… I had to attend to some of the urgent meetings, so therefore I've been talking the whole day. And tonight, I talked the whole night,' he said. He only wrapped up the session at 11pm, after seeing around 70 residents. Over in the east, Tampines GRC's two new faces – Dr Charlene Chen and Mr David Neo – were seen at Tampines East MPS, which Dr Chen has been helming for about a year. Mr Baey Yam Keng, who has served in Tampines since 2011, said Mr Neo, a former army chief, will tag along with other members before potentially helming a new division that has yet to be demarcated. The constituency may see a new Tampines Boulevard ward that will mostly comprise new Build-To-Order (BTO) HDB estates north of Tampines Avenue 9. Mr Baey added that residents can expect an announcement on the new ward and MPS location by the end of May. Join ST's WhatsApp Channel and get the latest news and must-reads.
