Chew Gek Khim, one of Singapore’s wealthiest women with a net worth of $1.39 billion, is celebrated for her remarkable transformation of the 137-year-old Straits Trading Company. From its beginnings as a tin smelter, the company has evolved under her leadership into a diversified modern conglomerate and investment firm.
A Storied Legacy
Straits Trading, founded in 1887 by a Scotsman and a German, rose to prominence as one of the world’s largest tin smelters. It weathered significant historical events like the Great Depression and two world wars. Chew’s grandfather, Tan Chin Tuan, a pioneer banker, brought Straits Trading under OCBC’s portfolio and served as its chairman for 27 years.
Stepping into Leadership
Chew’s upbringing in her grandfather’s mansion near Orchard Road was sheltered yet influential. After earning a law degree from the National University of Singapore in 1984, she initially pursued a legal career before joining her family’s investment firm, Tecity Group. Though reluctant at first, Chew embraced her role, drawing inspiration from her grandfather’s wisdom to take risks and learn from failures.
Strategic Acquisitions and Growth
In 2008, Chew became chairman of Straits Trading after securing an 89% stake, fulfilling her grandfather’s request to acquire one of his former investments. She led the company’s transformation by diversifying its portfolio across commodities, hospitality, and real estate. Key initiatives included establishing Far East Hospitality Holdings with Robert and Philip Ng, managing over 100 properties across 10 countries, and acquiring a 20% stake in ARA Asset Management, which later yielded a $1.1 billion gain.
Modernization and Recognition
Chew also modernized Straits Trading’s tin mining operations through Malaysia Smelting and expanded the firm’s investments to manage $1.54 billion in assets globally. Her transformative leadership earned her the title of Businesswoman of the Year at the Singapore Business Awards in 2015.
Traditional Values in a Modern World
Chew upholds the values of her grandfather, emphasizing resourcefulness, adaptability, and knowing when to persist or cut losses. She remains rooted in family traditions while embracing innovation, balancing her roles as a business leader and family member.
Chew’s journey from a “highly accidental” leader to a visionary executive is a testament to her ability to honor her legacy while charting a path for the future. Her story reflects the power of persistence, adaptability, and embracing one’s unique background to achieve extraordinary success.
