THE STRAITS TRADING COMPANY LIMITED
The founding history of The Straits Trading Company Limited ("Straits Trading") can be traced to the 19th century, during the early years of Singapore's colonial history, with the formation of a partnership between James Sword, a Scottish businessman, and Herman Muhlinghaus, a German entrepreneur, to undertake tin smelting. The Straits Trading Company Limited was incorporated on 8th November 1887 with an initial capital of $150,000.
With tin smelting and trading being the economic lifeblood of the region at that time, Straits Trading played an instrumental role in helping to lay the foundation for the progress of Singapore and Malaysia towards the age of "industrialisation" and beyond.
With the advent of industrialisation and the attendant changes in the economic landscape in Singapore and elsewhere in the region, Straits Trading's structure and business also evolved in tandem and expanded to cover new emerging sectors such as equity investments, property and hospitality.
In April 2008, Straits Trading was acquired by The Cairns Pte Ltd, a member of the Tecity Group. It is a privately-held investment group of companies founded by the late banker and philanthropist, Tan Sri (Dr) Tan Chin Tuan, who was also Chairman of Straits Trading for more than 20 years since 1965.
Backed by more than 120 years of prudent and astute business management, Straits Trading today is an investment company with stakes in real estate, hospitality, resources and investments that span the Asia Pacific region.
Today, the Company's four key businesses include:
- an 89.5% stake in Straits Real Estate Pte. Ltd., a co-investment vehicle with John Lim that seeks out real estate related investments and opportunities
- a 20.1% stake in ARA Asset Management Limited, one of the largest real estate fund managers in the region
- a 30% stake in Far East Hospitality Holdings Pte Ltd, one of the largest hospitality operators in the region, as a JV with Far East Orchard Limited
- a 54.8% stake in Malaysia Smelting Corporation Berhad, its tin mining and smelting subsidiary that is listed on Bursa Malaysia and secondary listed on SGX-ST
The Tecity Group
The Tecity* Group, founded by the late banker and philanthropist Tan Sri (Dr) Tan Chin Tuan, comprises a public-listed arm, The Straits Trading Company Limited; an investment arm, Tecity Management and a philanthropic arm, Tan Chin Tuan Foundation. It also owns the Tan Chin Tuan Mansion, which is used as a "hub" for philanthropic activities, business interaction and mutual learning. The Group manages an active global investment portfolio with a philosophy centred on the principles of its Founder, and prides itself in being a responsible partner and desirable employer.
* Pronounced "T-C-T" ("TCT" are the initials of the founder's name - Tan Chin Tuan)
For more information on The Tecity Group, please visit www.tecity.com.sg