Key Insights:
Chew Gek Khim’s Transformation of Straits Trading: Under Chew Gek Khim’s leadership, Straits Trading has transitioned from a historic tin smelting business into a prominent real estate and hospitality entity.
Straits City Project: The company’s latest venture, Straits City, aims to redefine the real estate landscape in Penang, Malaysia.
Chew’s Vision: Chew emphasizes building stable, sustainable businesses that engender trust and offer substantial returns.
Chew Gek Khim’s Strategic Overhaul of a Historic Company
Chew Gek Khim, who assumed leadership of Straits Trading in 2008 following a high-profile acquisition by her family’s investment firm, Tecity Group, has radically transformed one of Singapore’s oldest enterprises. Originally established in 1887 as a tin smelting operation, Straits Trading has shifted its focus to become a formidable player in the real estate and hospitality sectors.
In an exclusive interview with CNBC’s Christine Tan on Managing Asia, Chew outlined her vision for the company. “My ultimate ambition is to build businesses that are stable and sustainable, which provide returns and establish a company that people can trust and invest in,” Chew explained.
Straits City: A New Vision for Penang
Currently, Straits Trading is undertaking its most ambitious project to date: Straits City. This integrated development, located in Malaysia’s Penang state, aims to provide a modern alternative to the congested central business district of Penang Island, a UNESCO World Heritage site.
Chew expressed her optimism about the project’s potential to reshape the area. “I’m optimistic it’s a game changer for Penang because this whole area, once considered the poorer cousin of Penang Island, is now on the rise,” Chew said. She envisions Straits City as a viable central business district alternative due to the island’s congestion and restrictive heritage status. “The island is attractive but restricted in its ability to change. In contrast, this area is a blank canvas,” she added.
Chew’s strategic direction reflects a broader ambition to evolve Straits Trading into a diversified and sustainable business entity, continuing to build on its storied history while forging a dynamic new future in real estate.
