Catching Up with Enviro-Hub (17th Sept 2019)
Tea with Towkay
Who: Raymond Ng – Chairman of Mainboard-listed Enviro-Hub
Where: Aperia Mall
What (we ate): Egg tarts, Kopi, Fruit Juice
When: 16 Sep 2019
Caught up with an old friend who runs a listco involved in recycling, renewable energy and piling. Given its varied and unrelated businesses, Enviro-Hub may be confusing to most investors.
But it is not surprising considering Raymond’s hobby is venturing into new businesses. His most successful to date is likely to be property. Back in 2004, he made an audacious move by snapping up HSBC’s sprawling Good Class Bungalow (GCB) land in Bishopsgate area. The 276,000 sq ft plot, which could be subdivided into 16 GCBs, set him back by $70m ($250 psf), which seems like a bargain now. He set up BS Capital to hold the land, and subsequently to develop other properties. BS, by the way, stands for Bishopsgate, and not what immediately comes to mind.