After 20 years, integrated fish services provider Qian Hu has a new leader: Yap Kok Cheng. On Jan 1, the 42-year-old took over the ropes from his uncle Kenny Yap to become the company’s chief executive officer, while the older Yap continues to serve as its executive chairman.
Unlike his uncle, who is always jovial and outspoken, Kok Cheng comes across as more quiet and reserved. However, he is just as ambitious and has already set a long-term goal to bring Qian Hu’s revenue across the $100 million mark.
This seems an uphill task at this juncture, for the company has reported losses of $1.45 million for FY2020 ended Dec 31, a big reversal from earnings of $920,000 it reported in the year earlier. This translates to a net loss per share of 1.28 cents and net asset value of 43.81 cents, at the end of FY2020. By contrast, the company had earnings per share of 0.81 cents and a net asset value of 45.71 cents in FY2019.