From 'white knight' to Reit grower

Singapore

THE days of swooping in to rescue and turn around troubled companies through drastic corporate restructuring are over for Hong Kong-listed Heng Fai Enterprises.

The company, which most recently washed its hands of Singapore-listed SingHaiyi by selling it to low-profile Chinese tycoon Gordon Tang, told The Business Times that its transformation from a compulsive "white knight" to a dedicated real estate investment trust (Reit) manager has already borne its first fruit.

Its first two Reits, American Housing Reit (AHR) and Gl…