Heng Fai eyes Reits, secondary listings

HONG KONG-listed Heng Fai Enterprises (HFE), backed by the former controlling shareholder of Catalist-quoted SingHaiyi, Chan Heng Fai, could do a secondary listing in Singapore as it shifts focus to real estate investment trusts (Reits).

Mr Chan, who is managing chairman at HFE, and his son Tony Chan, who is managing director, yesterday detailed their plans for the company, which had just completed a strategic review following the disposal of its entire stake in SingHaiyi early in the year.

With the gains made from the disposal, HFE will concentrate on seeding and growing Reits starting with the US market. The younger Mr Chan said earnings have been lumpy over the years with HFE historically focused on turning troubled companies around.