Cordlife's CEO runs a tight ship

THERE are no carpets lining the concrete floors of Cordlife's Yishun headquarters, and the firm's CEO, Jeremy Yee, wants you to know that. So verboten is the idea of spending perfectly good money on corporate frippery that Mr Yee has warned shareholders to look out for carpets in the hallways if the company ever gets a new CEO.

There is currently little reason for a furnishing-inspection expedition to Yishun, for Mr Yee and his pared-down approach appear to be here to stay. Cordlife stock has been a darling of the market since it went public in March last year, its share price now more-than-double its offer price.

While the firm's revenue grew 14.6 per cent to $34.7 million for its financial year ended June 30, 2013, Mr Yee's tight grip on expenditure showed, with the selling and marketing expenses growing only 12.9 per cent, or $800,000.