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Png Eng Huat closed down 8 companies in 12 years and only runs a flower shop now

Posted by temasektimes on May 24, 2012

The Workers Party candidate for Hougang Png Eng Huat described himself as a ‘semi-retired’ businessman when introduced as a candidate during a press conference.

Very little is known about Mr Png’s background except that he has been a businessman for the last twenty years. According to an email from an anonymous individual who claims to be a ‘business associate’ of Mr Png, he set up many companies like Yaw Shin Leong, most of which have since wounded up.

According to information from the Accounting and Corporate Regulatory Authority (ACRA), from 1990 to 2002, Png Eng Huat was involved in 11 companies, holding the title of Director, Executive Director and shareholder.

But in the last 12 years, 8 have been closed and only 3 are still in operation.

Speaking to queries from the media, Mr Png said he will ‘just do it’ when the opportunity presents itself:

“When I feel that I have done enough, I start to slow down. A business cannot be closed down so easily, it is impossible to simply say ‘bye’ to the customers and walk away, I have to ensure it goes through different stages, before winding up a business.”

Png Eng Huat said that he started his semi-retirement state at the age of 40. The companies which are still in operation, he has also been gradually handing over to his subordinates to.”I spend a lot of time to get involved in politics, and I am beocming increasingly active.”

According to ACRA’s information, Png Eng Huat is currently director and shareholder of, Flori-Art, Globalised Market Traders and Madcow International.

Flori-Art is a florist located in the Chinatown vicinity, but one SPH reporter visited several times and found out that it is not doing a florist store business and the office is often empty.

The staff said that their company has a 20-year history, the main business is “supplier of flowers”.

Mr Png said he is not very ‘active’ in running his business now as he is becoming more ‘involved’ in politics. WP has offered him the position of Deputy Chairman of Aljunied-Hougang Town Council if he is elected on Saturday.


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10 Responses to “Png Eng Huat closed down 8 companies in 12 years and only runs a flower shop now”

  1. jaded said

    this is a new low in singapore politics… in years to come, people will remember the hougang by election as the event that turned the people against the PAP

  2. papsmear said

    So what? Did he owe anyone money? Is he in illegal activity? I respect businessman to be able to setup business here and run it despite all the red tapes and wrestlers from GIC and related. It is damn easy to be appointed CEO of GIC related company here. You just need to report to work and don’t have to do anything. Example, bus, mrt breakdown, you just have to be fined few hundred dollars and that’s it. Bid for ESPN at astronomical $ and transfer cost to customers. Write off 1.5Billion in bad investment such as shincorp, ABC learning and so what? You are still chairman. Sell deriatives and shrug off responsibilty when lehman brother crashed? Whereas u pay hongkees in full and sporean got nothing??? P.E.H, I fully support you!!! Honest money are hard to earn. Be urself! Don’t be like others blood suckers and Marther farker.

  3. Did any of the Pee-a-Pee scums even run any business before ?

  4. Elusive Scorp said

    SHIT Times.

  5. papsmear said

    Setup business using own money, can do then do, cannot do then how? Of course wind down lah! U think everybody like u can take public money and invest in shincorp? ABC learning? UBS? Citicorp and lose money and still can be chairman until now? Salary ownself happy happy draw how much u like? Where got a private company that CEO lose billion dollars and no need stepdown one? Only spore have because it is his ffather company.

  6. Divide and Conquer said

    So we must remember Temasek Times has joined the PAP in smearing oppositions.

  7. Crook said

    u should also tell everyone how many billions in losses Temasek Holdings has accumulated ever since PM wife Ho Ching took over as CEO.
    And how many billions Singtel had lost ever since PM Lee’s brother Lee Hsien Yang became its CEO.
    We are talking about BILLIONS of Singaporeans’ hard-earned taxpayers’ money!
    Also how PM Lee’s son bypassed the chain of command to complain to the minister of defence, resulting in him being charged in SAF. He still got his scholarship to MIT anyway.

  8. cheap shot said

    High rental cost here causing SMEs to close down or move out?
    Only successful businessman can contest in GE or BE?

  9. Evil PAPPY said

    PNG scarifies his businesses so as to focus on serving the people. RESPECT!

  10. Henry said

    TIme to show your undies, TT … do we need to publish an anonymous letter for you …

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