Sophisticated Investor Profile: Ong Pang Aik

After his father laid the foundations of the family business, Mr Ong Pang Aik has built up the Lian Beng Group into a monumental construction company. From a small contract subcontractor in the late 1970’s, the Group has grown under Mr Ong’s leadership into an A-1 graded building construction firm that is registered with Singapore’s Building & Construction Authority.

Now the Group’s Executive Chairman of the Board and Managing Director, Mr Ong has been recognised for his business achievements with several awards. These include the Entrepreneur of the Year Award from the 2011 Asia Pacific Entrepreneurship Awards, the Best CEO Award at the 2012 Singapore Corporate Awards, and being named the 2008 Ernst & Young Construction Entrepreneur of the Year.

Mr Ong has also been recognised for this community work with the Pingkat Bakti Masyarakat Public Service Medal in 2001, and the Bintang Bakti Masyarakat Public Service Star Medal in 2008.

Building up the Business

Mr Ong started working at Lian Beng in 1978. He has since guided the Group through several slumps in the construction industry, keeping the company profitable and on the road to growth. Setting up the Group’s engineering and mixed concrete divisions, Mr Ong enabled it to handle both its own and third-party construction projects, which now include major, multimillion dollar structures.

These projects include a SGD115 million-condominium in Pasir Ris, and an SGD85 million-contract for an office building and carpark via subsidiary, Deenn Enginerring. Also engaged in property development, Lian Beng’s portfolio includes Spottiswoode Suites and The Midtown in Hougang. By the time it marked its 40th year in 2013, the Group’s order book was at SGD1.2 billion.

Being Socially Responsible

Believing in the importance of being a socially-responsible entrepreneur, Mr Ong shares the wealth of his business experience with the youth. He also is a grassroots leader in the Marine Parade GRC-Braddell Heights CCMC. He is chairman of the Ci Yuan Community Club Building Fund Committee as well as the Upper Serangoon 6-Miles Business Sub-Committee.

Mr Ong is likewise vice-chairman of the Zhong Hua Primary School Advisory Committee, and is the patron of both the Ang Mo Ko-Hougang Citizen’s Consultative Committee and the Braddell Heights Constituency Sports Club. He is also a member of the PAP Community Foundation, Braddell Heights Executive Committee.

Mr Ong in Action

Mr Ong’s latest trading activities include increasing 329,200 deemed shares of the Lian Beng Group at SGD0.455, and another 200,000 deemed shares of the Group at the same price in early December. Off-market, he also increased 1.5 million deemed Lian Beng shares, also at 0.455 at about the same time. Follow the buy/sell action of Mr Ong Pang Aik at https://spiking.com/v/ongpangaik, and the performance of his Lian Beng Group at https://spiking.com/sgx/l03-lian-beng-group-ltd.

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Photo credit: Sim Kih / http://nextinsight.net/index.php/story-archive-mainmenu-60/924-2014/8362-lian-beng-industrial-property-project