Feb 2010 Issue: Ng Teng Fong

"If you want to be in the property business, it is not possible to invest in every region. You open the map. If you can't see the place (because it's so small) but only the name, that's the place to invest in...Singapore and Hongkong are the best examples ... " – Late Ng Teng Fong, in a rare interview with the Hongkong Chinese-language newspaper, Apple Daily, in 1996.

Famous for his mysterious ability to figure out property bargains, the late property tycoon was well known for delivering strong quotes whenever he was interviewed, despite maintaining a low profile. In 1984, he once said that he was ‘a long term entrepreneur’ and not a risk-taker. He did not believe in developing projects when the property market was optimistic and dismissing people when it was bad.

This can be seen in the operations of Far East Organisation which even today, tends to wait for a better time in the future during times of depressing market rather than selling them at low price. Thus, this offers a guarantee to early buyers that losses will be not suffered from needless competition from the developer.

 

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