Aztech's Mun ditches roast duck and stays focused on electronics core

Lim Hui Jie
Lim Hui Jie3/12/2021 07:00 AM GMT+08  • 8 min read
Aztech's Mun ditches roast duck and stays focused on electronics core
Aztech Global IPO was met with a enthusiastic reception, with its public offer 18.4 times oversubscribed.
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When Aztech Group was listed on the Singapore Exchange, it expanded from its original electronics business manufacturing PCs and electronic products, into various segments such as the marine logistics business and building materials.

Showing an entrepreneurial trait to go into new business areas where he thought he could make money, Aztech Group founder, CEO and executive chairman Michael Mun also famously paid $4 million in 2014 to buy over the Kay Lee Roast Meat Joint, and announced ambitious plans to expand the brand.

Before Aztech Group shareholders could savour the returns from these ventures, Mun launched a privatisation offer for the company at 42 cents per share, valuing it at about $21.42 million. It said back then that Aztech had no present need for access to Singapore’s capital markets and was unlikely to tap these markets to finance its operations in the foreseeable future.

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