Yao Hsiao Tung

Net Worth

$1.442B

0% (24h)

Yao Hsiao Tung, a Singaporean citizen born in China in 1940, is the Executive Chairman and CEO of Hi-P International. His source of wealth stems from his successful career in the manufacturing industry. Yao, who has a current net worth of $1.5 billion, acquired Hi-P International in 1983, transforming it from a small tool maker into one of Singapore's largest contract manufacturers, supplying components to global brands like Apple, Dyson, and Tesla. Yao's career spans over 40 years in precision tooling and plastic injection molding. His leadership has driven Hi-P's remarkable growth, marked by a delisting from the Singapore Exchange to secure more management flexibility, with plans to relist by 2030. He emphasizes delegation with control, seeking to leave a lasting legacy of business success.

The Full Dossier

Early Life

Yao Hsiao Tung was born in Yunnan, China, in 1940. At the age of six, his family moved to Taiwan. His childhood was marked by frequent relocations due to his father's job changes, leading to a challenging upbringing. These experiences instilled in him adaptability and resilience.

Rise to Success

Yao's entrepreneurial journey began in 1980 when he invested S$50,000 in Hi-P Tool & Die, a struggling mold maker. He took over the company in 1983 and transformed it. Over four decades, he has grown Hi-P International into a leading contract manufacturer. The company went public on the Singapore Exchange in 2003 and was delisted in 2021 to give him more control.

Key Business Strategies

Yao's leadership style emphasizes delegation with control, empowering his senior management while maintaining oversight. He focuses on securing Hi-P's future by diversifying its customer base and exploring mergers and acquisitions. He plans to relist Hi-P by 2030 to further fuel growth. In 2024, Temasek-backed 65 Equity Partners invested S$100 million ($74 million) in the company.

Philanthropy

Yao supports CSR initiatives for the communities where Hi-P operates.

Career Timeline

2021

Hi-P Delisted

Delisted Hi-P from the Singapore Exchange, seeking management flexibility.

2003

Hi-P Listed on SGX

Hi-P International listed on the Singapore Exchange.

1983

Took over Hi-P

Yao took over management and turned the company around.

1980

Co-founded Hi-P Tool & Die

Yao became a silent partner in the struggling mold-making firm.

1979

Moved to Singapore

Yao moved to Singapore to set up a factory for his employer, DuPont.

Philanthropic Impact

Community SupportUnknown

CSR Initiatives

Supports communities and markets where Hi-P operates.