AN extremely low profile man in his early 50s, Dr Yu Kuan Chon graduated as a medical doctor in 1988 and then spent the next seven years practising in government hospitals before going into the family property development business, then known as Yu Neh Huat Bhd.
His elder brother, Datuk Yu Kuan Huat, is YNH managing director.
Dr Yu became chairman of YNH in February 2004. He is the second largest shareholder of the company with close to 15.8% stake. The Perak-based property developer’s prime parcel of land that has yet to developed is located along Jalan Sultan Ismail.
Dr Yu is also a non-executive and non-independent director of semiconductor firm Rapid Synergy Bhd
. In all the companies he has invested in so far, Dr Yu outwardly appears to be a passive investor.
However, when Rapid Synergy bought into HLCap back in December 2014, this was probably one of the first time, the public got a glimpse of Dr Yu’s investment strategy. Rapid Synergy currently has a 0.78% stake in HLCap.
In a filing with Bursa, Rapid Synergy said HLCap’s leadership strength and initiative to improve its financial performance has been especially apparent over the recent five years.
An example is the remarkable growth of about 740% in its net profits or compounded annual growth rate of about 70%.
“HLCap is an established financial group in a highly regulated industry and is very well run, given that the board is led by Quek, who is an astute and highly-regarded business personality. He has always managed to buy low and sell high. An example is when Hong Leong Financial Group sold off a 30% stake in Hong Leong Assurance Bhd to Sumitomo Mitsui Insurance Co Ltd at a price of 6.5 times book value,” Rapid Synergy told Bursa.
It added that HLCap’s investment was in several public companies involved in stockbroking, investment banking and asset management, whose assets have not been properly revalued. “Rapid Synergy is of the view that its investment in HLCap is sound and that the senior leadership at HLCap would continue to increase further the value of HLCap in the forseeable future.
Rapid Synergy is looking at investment, in HLCap for example, on a long-term basis, and as such, would maintain its participation even in unlisted entities.”
Rapid Synergy added that even if HLCap were delisted, it would continue to receive dividends.
So we know Dr Yu likes dividends, savvy management and assets that have yet to be revalued.
We also know he has the stamina for waiting.
Imaspro has some of those attributes, with the added advantage of RM51mil in its cash coffers. It is likely that Dr Yu has bigger plans on how to utilise all those monies.
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