Eu Yan Sang

Eu Yan Sang
Private company
Industry Healthcare and Wellness
Founded 1879, Gopeng, Perak, Malaysia
Founder Eu Kong
Headquarters 21, Tai Seng Drive, Singapore 535223
Area served
 Singapore, Malaysia, Hong Kong, China, Australia
Key people
 Richard Eu, Chairman
Products TCM and wellness solutions
Services Clinical services
Revenue S$70,576,000 (Q1FY2013)
S$1,992,000 (Q1FY2013)
S$344,000 (Q1FY2013)
Website euyansang.com
A typical Eu Yan Sang retail outlet.
Eu Yan Sang's headquarters in South Bridge Road, Singapore

Eu Yan Sang (Chinese: 余仁生; pinyin: Yúrénshēng, SGX: E02) is a company that specialises in traditional Chinese medicine. It currently runs more than 300 retail outlets in Hong Kong, Macau, China, Malaysia, Singapore, and Australia, plus two factories in Hong Kong and Malaysia. The group also operates 27 TCM clinics in Malaysia and Singapore and two integrative medical centres in Hong Kong.

The holding company, Eu Yan Sang International Limited, has been listed on the mainboard of the Singapore Exchange since 2000. It had been delisted from 2016 thereafter.

History

In the 1870s, founder Eu Kong Pai, better known as Eu Kong, left the village of Foshan in Guangdong, China and settled down in the small mining town of Gopeng, Perak. He started tin mining and noticed that the tin mine coolies were heavily dependent on opium as the easiest method for immediate relief for their medical needs. The majority were illiterate and oblivious to the dangers of opium to their health.

Eu Kong brought in herbal remedies to nurse their health, thus the set up of 'Yan Sang' shop. Eu Kong opened his first Chinese medicine shop in 1879 in Gopeng. Eu Ah Kong died suddenly in 1890, aged 37.[1]

Eu Kong’s family business was inherited by his eldest son, Eu Tong Sen, when he was only 13 years old. However, Eu Tong Sen only took over the running of the business in 1898, after he turned 21. The family business included remittance, tin mining and rubber planting. Eu Tong Sen was heavily involved in Malaya’s tin mining industry. His prospecting of tin in Kampar led him to open a second medicine shop in Kampar, Perak in Malaya.

By the early 1900s, Eu Tong Sen expanded the family's Traditional Chinese Medicine business to other parts of Malaya, Singapore, Hong Kong and Southern China. The expanded business adopted the brand name, "Eu Yan Sang".

Eu Tong Sen died in 1941, in Hong Kong. In Singapore, a main street in Chinatown is named after him.[1]

The family assets left by Eu Tong Sen was inherited by his 13 sons, in equal shares. By 1973, most of the businesses were sold or liquidated. Only Eu Yan Sang remained, with the family controlling 75% of the business.

In 1989, Richard Eu, a 4th generation family member, joined EYS Holdings in an attempt to keep alive the last family business.

In 1990, Eu Yan Sang Holdings was taken over by Lum Chang as Eu Yan Sang shares were sold off by the 3rd generation family members.

Within four years in 1993, Richard Eu, along with cousins from the 4th generation, Robert and Clifford Eu, successfully bought over Lum Chang's shares in Eu Yan Sang Holdings. Once again family-owned, the company was renamed Eu Yan Sang International (EYSI). EYSI was listed on the mainboard of the Singapore Stock Exchange in 2000.

As of 2012, Eu Yan Sang has 219 wholly owned Traditional Chinese Medicine retail outlets in Singapore, Malaysia, Hong Kong, China and about 80 Healthy Life stores in Australia.

Etymology

The name of the company that Eu Kong started is made up of the words "Yan" and "Sang". The former means benevolent, kind or humane in Chinese while the latter represents birth, life or livelihood. "Yan Sang" literally means caring for mankind.

Business

Eu Yan Sang's primary business in the past was the retailing of herbs and brews. Today, EYS's business has evolved into a TCM offering, including clinics and wellness products.

Science

The changing demographics and sophistication of consumers have required TCM practices and treatments to be better validated. Today, EYS invests in scientific research to validate and quantify the efficacy of its TCM products.

EYS makes use of Herb Fingerprinting Technology to identify each TCM herb's unique chemical compositions. The company also conducts continuous research collaborations with tertiary institutes from Singapore and China to validate, develop and improve TCM products and treatments.

Retail

Eu Yan Sang has a distribution network of more than 300 retail outlets in Singapore, Hong Kong, Macau, Guangzhou, Malaysia, and Australia (under the brand name Healthy Life). Some Eu Yan Sang products are also carried in pharmacies, medical halls, supermarkets, convenience stores, hospitals, health clubs and spas.

Manufacturing

Eu Yan Sang has two factories in Hong Kong and Malaysia.

Eu Yan Sang's manufacturing facility in Malaysia is operated by a wholly owned subsidiary company, Weng Li Sdn Bhd.

In 2006, Eu Yan Sang invested HK$110-million in a 130,000 sq ft (12,000 m2) manufacturing plant in Yuen Long, Hong Kong which includes Hong Kong's largest concentration and extraction facility. The factory also has its own laboratory facilities for research and development.

Clinics

As of March 2013, the group operates 27 TCM clinics in Singapore, Malaysia and two integrative medical centres in Hong Kong, with practitioners trained in Chinese medicine. These clinics offer services such as acupuncture, tui na, and dispensation of TCM prescriptions.

See also

References

  1. 1 2 Sharp, Ilsa (2009), Path of the Righteous Crane: The Life & Legacy Of Eu Tong Sen, Landmark Books, ISBN 978-981-4189-22-4
  • Carlock, Randel (March 2006), Eu Yan Sang – Healing a Family & Business
  • Lau, Geok Theng; Ho, Jonathan Gerard (2004), Traditional Remedies Made Contemporary: Re-designing Eu Yan Sang (PDF), National University of Singapore & DesignSingapore Council
  • Lau, Lorett B.Y.; Wong, Y.H. (Hong Kong Polytechnic University) (2000), Eu Yan Sang (Hong Kong) Limited, 4 (issue 2), Asian Case Research Journal: John Wiley & Sons (Asia) Pte Ltd, ISSN 0218-9275, archived from the original on 2009-08-01
  • Chung, Stephanie (Hong Kong Baptist University) (2005), Changes and continuities. Evolution of a Chinese family business, 3 (no. 2), pg 259–268, Asia Europe Journal: Springer Berlin / Heidelberg, ISSN 1610-2932
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