Friday, November 10, 2006
[RealEdge] BT : More than just a roof overhead
| Published November 10, 2006  | |
| THE CFO INTERVIEW | |
| More than just a roof overhead DAVID Tsang, 35, a Hong Kong-born US citizen, came to Singapore from New York in 1996 thinking he would spend a few years here. Although he had a promising career in investment bank Nesbitt Burns in New York after finishing university in 1993, he wanted to see Asia and thought he would probably start with Hong Kong. But a chance meeting with Simon Cheong, whom he had known in New York when the latter was still with Credit Suisse, First Boston led him to join Mr Cheong in setting up SC Global Pte Ltd, a boutique real estate advisory firm. In late 1999, SC Global Pte Ltd did a reverse takeover of ANA Hotels, and SC Global Developments was born. 'Following the Asian financial crisis in 1997, Simon and I spent about a year travelling across Asia studying in-depth the various markets and looking at investment opportunities. We did a lot of soul-searching during this time and reflected upon what had just happened in the markets and looked ahead at new business possibilities, 'After going through all of our ideas, we concluded that there was a real opportunity to create a real estate development company that focused solely on the high-end residential market. Our basic thesis was that as key cities in Asia became more affluent, housing would no longer just be the need to have a roof over your head.' |
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