Terence Wong, CFA
CEO and Executive Director
Mar 15, 2023
Slimming pills earn fat margins. I learnt this from Kenneth Goh, whom I first met in 2004 when the company he founded listed on the SGX.
LifeBrandz’s key product was slimming pill Extrim, which became the most popular weight-loss product in Singapore, Indonesia and Hong Kong. Michelle Chia, one of the most popular TV personalities then, fronted the marketing campaign.
Extrim’s success was particularly astounding given that it was launched during the Slim 10 saga. Slim 10 was a slimming product which gained notoriety for causing adverse health effects, including one death in Singapore. There was also a high profile court case involving actress Andrea de Cruz, who suffered liver failure due to Slim 10.
Despite all the bad press, Ken and his partners believed that there was still a big demand for weight-loss pills. Their bet paid off and earned them a ticket to be one of the youngest companies to list in Singapore.