PSC CORPORATION LIMITED

PSC CORPORATION LIMITED

Previous company name
PROVISIONS SUPPLIERS CORPORATION LIMITED
Name change date
7/8/2003
Company Overview
PSC Corporation Limited is an investment holding company whose group is engaged in the manufacture and distribution of food products, as well as the provision of health care and hospital management services in Singapore and other foreign countries. The company was established in May 1974. Its registered head office is located in Singapore City. The company is publicly traded on the Singapore Exchange under the stock code DM0.
PSC Corporation serves as the leading consumer essentials company in Singapore. The company operates its business in three divisions: Consumer, which is involved in food trading, logistics, manufacturing and retail franchising; Packaging, engaged in the manufacture and selling of corrugated paper products and other packaging products; and Healthcare Services, which provides turnkey solutions in developing primary to tertiary healthcare facilities.
PSC Corporation has operations in Singapore, Malaysia, Australia, China, Philippines and Vietnam. The company’s vision is to be a multi-faceted consumer essentials company with strategic investments in the region. Its mission is to build strong partnerships; foster an open and creative culture; provide innovative products; achieve operational excellence; and build strong financial capabilities.
Business Summary
PSC Corporation LTd transformed into a vibrant and diverse group focusing on three core business activities Consumer; Packaging; and Healthcare.
Description and history
PSC Corporation Ltd (PSC) is a fully home-grown company formed in 1974 by a group of far-sighted food/provision retailers. As Singapore’s largest retail franchise operator, PSC oversees an island-wide chain of about 150 Econ Minimart stores.

PSC Corporation Ltd was incorporated in Singapore on 17 May 1974. Since its inception, the company has transformed into a vibrant and diverse group focusing on three core business activities:-
Consumer;
Packaging; and
Healthcare.

In the Consumer Business Division, the company is involved in food trading, logistics, manufacturing and retail franchising. This division has conceived and grown successful proprietary brands and honed a distribution service for its products. The division holds exclusive agency and distribution rights to international brands for Singapore and Malaysia. With effect from 2006, InnoForm Media group’s business of producing and distributing media products is also managed as part of the Consumer Business Division.

The acquisition of Tat Seng Packaging Group Ltd in October 2005 marked PSC’s entry into the packaging business. Tat Seng is one of the Singapore’s leading manufacturers of corrugated paper packaging products. With operations in Singapore and Suzhou, Tat Seng designs, manufactures and sells corrugated paper packaging products for a diverse range of products according to customers’ specifications.

The Healthcare Division of the Group provides turnkey solutions in developing primary to tertiary healthcare facilities through providing healthcare consultancy and services as well as turnkey construction and hospital management. The Health Solutions group’s geographical range includes Singapore, Malaysia, Australia, China, Philippines and Vietnam.

Their diversified business interests today include the manufacture of food and non-food items, resort development, real estate development, healthcare consultancy and hospital management, as well as the hotel business.

In 1982, PSC introduced successfully new franchising chain stores, ‘Econ Minimarts’, with a total of about 200 outletsparticipating in this concept presently.

Over the years, PSC pioneered the sale of Singapore’s first branded rice, ‘Royal Umbrella Fragrant Rice’ at a time when competitors were selling theirs in bulk sacks. In addition, its has also formulated Singapore’s first fresh soya milk, ‘Sobe’ to meet the demand of the consumers.

History

1974: It began when 150 provision shop owners of the Singapore Provision Shops Friendly Association jointly formed the Provisions Suppliers Corporation Ltd.

1977: As the supply of provisions continued to grow, Topseller was incorporated, to formalise PSC’s growing network of agency and distribution rights.

1981: To accommodate its need for bigger premises, the company shifted to its Kim Chuan Drive site.

1982: PSC started a new era in chain store franchising by being the first company in Singapore to launch a chain of mini stores, ‘Econ Minimarts’ to provide small retail minimarts with benefits of economies of scale by getting supplies from a centrised source at PSC.

1983: The first 49 Econ Minimart stores were officially opened on 8 January 1983. Presently, there are about 200 stores participating in this franchise chain.

1984: To provide a better integration of services for the Econ Minimart chain and its growing clientele of supermarkets, Tipex Trading, was incorporated to prepack and supply dry provisions.

1985: Tips Trading, a wholly owned subsidiary of Tipex, was formed, to supply supermarket Shelving for the domestic and overseas retail industry.

1986: PSC pioneered the sale of Singapore’s branded rice under the Royal Umbrella label, now a common household name in Singapore.

1989: A first into the manufacturing arena with the acquisition of Socma Trading and Econfood Manufacturing in Malaysia, to deal in food manufacturing and other household consumer products.

1990: PSC became a Public Listed Company in the Main Board of the Stock Exchange of Singapore as a Trustee Stock with a paid-up capital of $22 million; PSC moved to its new premises in Jalan Boon Lay. Boasting a total land area of 532,000 sq ft, it houses both manufacturing and warehousing facilities. Its warehouse has a storage area of more than 110,000 sq ft, making it one of Singapore’s largest warehouses for fast moving consumer products; PSC acquired Fortune Food Manufacturing to produce tofu, noodles and other related products; supplying these to all supermarkets amd wet markets in Singapore.

1991: Setting its sights on the manufacture and supply of industrial, marine, and household chemicals and detergents, AT Chemical was acquired by the Group.

1992: Tips Industry was incorporated in Malaysia as a converter and contract manufacturer of paper products for end-consumer use; PSC Investment was incorporated in Singapore to seek regional investment opportunities for the Group; PSC entered into a joint venture in Shandong, China with the setting up of Topseller Chemical (China) to manufacture powder and liquid detergents, as well as related household products; In Malaysia, the acquisition of Fresh Fruit Juice Manufacturing to produce fresh fruit drinks; Going further afield, an investment holding company, Fortune Bright Investment was formed to seek new investment opportunities in China.

1993: PSC Resort was incorporated for the Group’s thrust into the resort and leisure industry. A 50% acquisition in Pulai Springs Resort was made to manage golf course, resorts and recreational facilities, as well as condominium development; With its presence in Shandong, China, the Group also acquired Longkou Luzhibei Preserved Fruit Manufacturing for the manufacture of preserved fruits; Beijing Fortune Foods was incorporated in China for the manufacture of upmarket bakery products.

1994: A property joint venture with China Ever Bright Real Estate Development Co. and Harbin Overseas Chinese Remittance Economic & Trade Co. for the development of a 14 storey office-cum-residential site in Harbin, China.

1996: PSC entered into a joint venture with its Australian partners to form Health Solutions International, which offers healthcare consultancy and hospital management services.

1997: PSC’s latest business venture is Radission Playford Adelaide, a five-star hotel located in the city centre of Adelaide, Australia.

Business Line
Investment holding company whose group is engaged in the manufacture and distribution of food products, as well as the provision of health care and hospital management services in Singapore and other foreign countries
Subsidiary
HEFEI DANSUN PACKAGING CO LTD
Advisor
KPMG
IPO date
10/25/1990
US SIC Code
2099
Company Address
348, Jalan Boon Lay

City province or state postal code
619529, SINGAPORE
Phone: +65 6268 4822
Fax: +65 6266 2607
Country address: SINGAPORE
Website url: www.psc.com.sg