Terence FB Image (25)

Written by

Azure Capital Fund Management Singapore Private Debt Fund Singapore Hedge Funds Lyte Fund Terence Wong Blue Suit

Terence Wong, CFA

CEO and Executive Director
Azure Capital

No ‘PSLE leave’ for Adeline Sim, exec director of HRnet

Jan 19, 2019

Met up with the management of HRnet recently and took this really festive looking pic. HRnet is Singapore’s largest recruitment agency, but NOT somewhere you would like to work in, especially if you are a parent. Executive Director Adeline Sim revealed that the company’s annual group management meeting will be held in late September this year, which coincides with her child’s PSLE. The brave lady will be making the trip to China to cheer her team on, while the bulk of her parent cohort will likely have taken ‘study’ leave. This dedication and work ethic was probably inherited from her dad Peter, who some regard as a ‘legend’ in the recruitment scene in Singapore. For an uber competitive industry, HRnet has done exceedingly well, and is highly profitable. It is estimated to earn S$54m in 2018, a jump of 23% from a year ago. This should pile on to the S$260m it has sitting in its banks. HRnet has a generous profit sharing scheme for its performing staff, quite a few of whom are co-owners of the company. Margins are among the best in the industry, as Peter continues to eyeball cost tightly. Till today, he still does not have a secretary. Be prepared to make your own coffee when meeting them in their office.