Sunmoon CEO sees stars finally aligning
An impending investment by a Chinese online shopping group could be the game-changer that turns things firmly around.
WHEN Gary Loh first bought into Sunmoon Food Co in 2007 as a private equity (PE) investor, he never thought that he would have to actually run it as a chief executive.
But a struggling business and overwhelming debt forced Mr Loh to put on his overalls and jump into the trenches. Today, however, a potential investment by Chinese online shopping group Shanghai Yiguo E-Commerce Co has given Mr Loh hope that he will finally be able turn this project around and eventually move on to other investments.
"This is just the beginning of a nicer road," Mr Loh said. "I took a very, very difficult path to get to where I am, and I'm glad that I'm hopefully being able to execute everything and get the company out of harm's way."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Hot stock: Singtel down about 3.3% after announcing S$3.1 billion impairment hit
Dubai begins construction of ‘world’s largest’ airport terminal
Hot stock: Seatrium up 5.6% on S$100 million share buyback programme
Gold eases as steady US dollar dampens appeal
Perpetual in talks with KKR for corporate trust and wealth management unit sale
SK Innovation expects solid Q2 refining margins, battery unit widen losses