The Timber Scion?s Search of a New Frontier
It started off with a humble timber trading business, David Yong, the second generation leader of his family-owned business is seeking new opportunities to bring Evergreen to even greater heights.
The post The Timber Scion?s Search of a New Frontier appeared first on LUXUO.
When businessman David Yong took over the reins of his family?s teak business from his father, the company was not what it used to be compared to its heydays. Initially, the family-owned business was founded by his father Yong Ing Fatt in 1990 as a commodities trading company specialising in timber sourced from Myanmar. Since then, Evergreen Teak Trading is grouped under Evergreen Assets Management Holding Limited with the young timber scion as its Chief Executive Officer. Having accompanied the elder Yong on numerous business trips back in the days, Yong was aware of the differences between the cities he has visited. From developing countries across Indochina to developed countries such as the United Kingdom, Japan and South Korea, each has their unique advantages that could be synergised together to reap maximum profits.
When Yong joined the family business in 2014, Myanmar adopted a new legislation that banned the export of raw timber material. As a result, he had to devise a new strategy to keep the business going and this birthed the creation of Burma Teak Asia, a lifestyle arm of the group that manufactures furniture from their existing stock of raw logs. With an initial capital of S$500,000, th...
The post The Timber Scion?s Search of a New Frontier appeared first on LUXUO.
When businessman David Yong took over the reins of his family?s teak business from his father, the company was not what it used to be compared to its heydays. Initially, the family-owned business was founded by his father Yong Ing Fatt in 1990 as a commodities trading company specialising in timber sourced from Myanmar. Since then, Evergreen Teak Trading is grouped under Evergreen Assets Management Holding Limited with the young timber scion as its Chief Executive Officer. Having accompanied the elder Yong on numerous business trips back in the days, Yong was aware of the differences between the cities he has visited. From developing countries across Indochina to developed countries such as the United Kingdom, Japan and South Korea, each has their unique advantages that could be synergised together to reap maximum profits.
When Yong joined the family business in 2014, Myanmar adopted a new legislation that banned the export of raw timber material. As a result, he had to devise a new strategy to keep the business going and this birthed the creation of Burma Teak Asia, a lifestyle arm of the group that manufactures furniture from their existing stock of raw logs. With an initial capital of S$500,000, th...
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