SUBSCRIBERS

Hi-P plans return to public market, aspiring to achieve S$10b in annual sales by 2029

Hi-P’s customers include prominent global technology and consumer players such as Amazon, Meta Platforms, Keurig, Rivian Automotive, Tesla, Dyson, Procter & Gamble and Colgate-Palmolive

 Tay Peck Gek
Yong Jun Yuan
Published Mon, Feb 27, 2023 · 05:50 AM
    • Yao Hsiao Tung, executive chairman of Hi-P Group, framed by products the company has helped to manufacture, either as components or whole products, including Dyson vacuum cleaners and Keurig coffee makers.
    • Yao Hsiao Tung is the executive chairman of the Hi-P group.
    • Yao Hsiao Tung, executive chairman of Hi-P Group, framed by products the company has helped to manufacture, either as components or whole products, including Dyson vacuum cleaners and Keurig coffee makers. PHOTO: YEN MENG JIIN, BT
    • Yao Hsiao Tung is the executive chairman of the Hi-P group. PHOTO: YEN MENG JIIN, BT

    SINGAPORE contract manufacturer Hi-P International might seek a listing again in a couple of years, to fuel an expansion plan that includes achieving sales S$10 billion by 2029, said its executive chairman and owner Yao Hsiao Tung.

    Yao, who handed over the role of chief executive officer to Lee Kong Ann on Friday (Feb 24), told The Business Times in an exclusive interview recently that Hi-P might go for a public flotation at the end of 2024 or early 2025, possibly with a dual-listing in Hong Kong or the United States.

    This time, however, Yao plans to enlist professionals to ensure the stock gets a fair valuation in the market. He earlier delisted Hi-P because he felt the then Mainboard-listed stock was undervalued.

    Copyright SPH Media. All rights reserved.