Flashback: LY Corp to be listed on Catalist; promises special dividend, China expansion

This article first appeared in Issue 815 (Jan 29) of The Edge Singapore

SINGAPORE (Jan 29): Tan Yong Chuan, CEO of Malaysia-based furniture maker LY Corp, says his company has deliberately chosen to focus on making bedroom furniture for more than three decades. “In every home, you have maybe one living room and one dining room, but you have at least two, if not more, bedrooms,” he tells The Edge Singapore in an interview. “And that’s where humans spend one-third of their lives.”

LY Corp started as a small carpentry workshop in the Malaysian town of Batu Pahat in 1976. Today, it has 15 manufacturing sites and warehouses, spanning a total area of 1.4 million sq ft. While the company started exporting to Singapore in 1985, the US is where it generates some 80% of its sales today. For 1HFY2017 to June 30, the company reported a 21.6% y-o-y rise in earnings to RM21.6 million, on a 17.2% y-o-y increase in revenue to RM166 million.

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