According to online media, the Pasir Ris One Design Build and Sell Scheme project was developed by PRC company SingHaiyi Group, which subcontracted the job to construction firm Kay Lim Holdings.
The project comprises 447 units put on sale since April 2012 for between $390K and $770K. Little wonder why residents are up in arms over the poor quality finishings of their flats.
According to SingHaiyi's website, the company specializes in an "investment banking" approach towards property development, "whereby SingHaiyi leads in identifying development projects or other related opportunities, sets the commercial parameters and then brings in co-investors and joint venture partners, playing as far as possible a lead or co-lead role for the duration of such projects."
On its website, the founders of SingHaiyi are listed as husband and wife, Gordon Tang and Chen Huaidan, both of whom are from the PRC.
Group Managing Director
Mdm Chen Huaidan was appointed Non-Executive Director on 14 January 2013 and re-designated as Executive Director on 1 February 2013 and subsequently Group Managing Director on 1 December 2013. Mdm Chen was last re-elected as a Director on 29 July 2013. She has served as the Managing Director of Haiyi Holdings Pte Ltd (“Haiyi”) since 2003 and is in charge of its daily operations and decision-making. She has been a Director of APIC since 2001 and an Executive Director of Tang Dynasty Pte Ltd since 1995.
From 1990 to 1994, Mdm Chen was the Assistant Judicial Officer of Shantou Longhu District Court, China and was also the General Manager of Centaur International LLC, US from 2001 to 2003. In addition to her extensive management experience, she is a keen supporter of youth education. She has been a member of the Advisory Committee of West Spring Secondary School since 2003 and has provided donor support to the school’s activities.
Mdm Chen graduated with a Bachelor’s Degree in Literature from China People’s University for Police Officers (now known as People’s Public Security University of China). Mdm Chen is the spouse of Mr. Gordon Tang who is a Non-Executive Director of the Company.
Mr. Gordon Tang was appointed as Non-Executive Director on 14 January 2013 and last re-elected as a Director on 29 July 2013. He has also been the Chairman of APIC since 2003.
Under Mr. Tang’s leadership, APIC has grown into a significant company with a strong track record in real estate development and investment and management of hotels under the Haiyi brand. Beyond providing strategic business links between China and the U.S., APIC utilises its unique access to Asian capital and markets to create a portfolio of quality investments and businesses which it brings to the investment community. Leveraging on Mr. Tang’s business acumen, APIC transforms business models to keep up with changes in the operating environment, while delivering healthy growth and returns.
Mr. Tang set up Tang Dynasty Pte Ltd in 1995 and Haiyi in 2003 in Singapore. Their main businesses include international trade, and financial and corporate investments.
Mr. Tang is the honorary chairman of Teochew Poit Ip Huay Kuan, a Teochew clan association in Singapore, and is a keen supporter of the Singapore Judo Federation and Singapore Sailing Federation. Mr. Tang is the spouse of Mdm Chen Huaidan, who is the Group Managing Director of the Company.