Yeo Hiap Seng – The Beverage Giant In Singapore

Yeo's logo



Yeo Hiap Seng Ltd (SGX:Y03) or more commonly known as Yeo’s was earlier mentioned as one of the more famous consumer products that we might find around our houses in this parts of the world! With a history of over a hundred years, Yeo’s had achieved a household brand status not only in Singapore but also in many other countries in the region!


A Brief History Lesson

Did you know Yeo’s started its humble beginnings at a small little shop in China making soy sauce?

Yes, you didn’t read that wrongly. It’s really soy sauce, out of Zhangzhou, Fujian Province. The family then uprooted the business from China then brought it over to “Nanyang” in the 1930’s or more commonly known as the Southeast Asia region today. Singapore was a place that they decided to set up shop and at that time they were still famed for their soy sauce!

With a strong focus on product innovation, over time Yeo’s diversified into other consumer products, from various types of Asian drinks all the way to canned curry chicken!

Yeo's country

Although Yeo’s have sales all over the world including places like the United States and Europe, the bulk of their sales still came from within Asia. And with close to 90% of FY2013 Revenue from Asia, with the bulk from Singapore and Malaysia, we really meant it when we said that they are a household name in this area of the world.

Today Yeo’s is one of the leaders in the Southeast Asia consumer products market. Their Yeo’s line of packet drinks can be considered as one of their key flagship products and a portion of their brand equity of course has to be attributed towards their advertising and marketing. Take a look next time you walk past any MRT stations in Singapore, most of them have Yeo’s advertisements plastered right across the train gantry!


yeo's advert


What Brands Does Yeo’s Have?

Well am I glad you asked!

Here are 3 of their many brands!

yeos asian drink

  • The flagship Asian Drinks with flavors ranging from Chrysanthemum, Winter Melon to even the more exotic flavors like Longan Red Date Drink!


  • H-TWO-O the ‘non-gassy’ isotonic drink! They also come in Sparking which essentially means the ‘gassy’ kind.

pink dolphin

  • Pink Dolphin – the fortified vitaminised drink! I didn’t know Pink Dolphin was under them as well!


But That’s Not All Yeo’s Does

This is where it gets really interesting. Maybe this could be an interesting fact to break the ice with your friends the next time!

Now let’s get to it. I would think that most of us (Yes, myself included before the reading of their Annual Report). This would be clearer from the picture below.

Yeo's 2013 Income Statement

YES! With 41% of Operating Profit form Property Development, Yeo’s is also a property developer! Bet not many of us are be aware of it 🙂

Since their first project in Singapore – Tivoli Gardens, a 59-unit landed estate, Yeo’s has thrived in this field with projects like The Sterling, Chuan Villas and Princeton Vale. Their latest development is Jardin, a 140 apartment condominium in the prestigious Bukit Timah area!

Other than for diversification purposes, you might wonder how was a food and beverage company well equipped to tackle this seemingly different operation.


Well Look No Further Than Their Shareholder List!

Yeo's Shareholder

Right up there at the top positions is the Far East Organization Pte Ltd with a stake of 53.99%. And in 2nd spot, you guessed it; with a shareholding of 11.13% is Far East Hospitality Services Pte Ltd, another company linked to the Group.


Within Far East Organization group, they had these 3 SGX listed entities:

  • Far East Orchard Limited (SGX:O10)
  • Yeo Hiap Seng Limited
  • Far East Hospitality Trust (SGX:Q5T)

If you didn’t already know, Far East Organization is the largest private property developer in Singapore with a hand in 1 of 6 private homes in Singapore since its establishment in 1960. With an ultimate shareholder of this caliber, I don’t think anyone would question Yeo’s capabilities of foraying into the field of property development. Adding to this would be the presence of two Far East Organization linked directors on the board of Yeo’s to provide the expertise in this area.


Value In Action

Today, I think that we learnt an interesting lesson that with the right resources anything is possible. Even a food and beverage company can have a successful property development arm!

In our next part, we will explore the operations of Yeo’s in detail – both their F&B as well as their property development arm. Stay tuned!


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All views and opinions articulated in the article were expressed in Mun Hong’s personal capacity and do not in any way represent those of his employer and other related entities. Mun Hong does not own any shares in the companies mentioned above.

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