Richard Eu Yee Ming



Richard Eu Yee Ming (b. 29 October 1947, Hong Kong1) is the chairman of Eu Yan Sang International Ltd.,2 a healthcare company that focuses on traditional Chinese medicine (TCM). He is the man behind the transformation of Eu Yan Sang from a TCM business into a modern company that provides integrated TCM healthcare products and services worldwide.3 He was named Ernst & Young Entrepreneur of the Year and Ernst & Young Entrepreneur of the Year – Traditional Healthcare in 2011.4 In 2010, he was recognised as CEO of the Year at the Singapore Corporate Awards.5

Early Life
Richard Eu is the great-grandson of Eu Kwong Pai, founder of Eu Yan Sang, and grandson of Eu Tong Sen, a well-known tycoon and philanthropist.6 Born in Hong Kong in 1947, Richard Eu has been living in Singapore since 1949. He attended Anglo-Chinese School; Kent College, Canterbury; and completed his law degree at the University of London.7

Career
A man of diverse interests, Eu was a merchant banker, stockbroker and a venture capitalist before joining Eu Yan Sang as a general manager in 1989.8 At the time, his uncle had just retired from the company and Eu felt that a family member should remain directly involved in the business that his family held stakes in.9

Accomplishments
During Eu’s first few months as general manager, several family members sold their company shares to construction and property development group Lum Chang Holdings, and by February 1990, Lum Chang had become the majority shareholder. It was 1993 before Eu and three of his cousins staged a buy-out of the pharmaceutical arm of the company at a sum of $21 million. Three years later, Eu further consolidated the business through the acquisition of and delisting Eu Yan Sang (Hong Kong) Ltd.10

Under Eu’s leadership, Eu Yan Sang flourished. He broadened the appeal of TCM by launching more convenient and easy-to-use products such as Chinese medicine in capsule form, bottled birds’ nests, herbal soup mixes and ginseng in tea bags, geared towards the busy consumer who has no time to boil and prepare herbs the traditional way.11 Eu also revamped the company logo, modernised retail outlets,12 and distributed its products in supermarkets, pharmacies, and health-food stores.13 He began employing more English-speaking staff to introduce and promote TCM to the younger generation.14 In 2001, the company partnered with the YourHealth Group and entered the Australian market, providing integrative medicine services from Western and Eastern medical traditions through integrated health clinics. It also entered the American market that same year by acquiring Elixir Store and its health tonics and teas.15

Personal interests
Eu represented Singapore as part of the national water-ski team in the Southeast Asian Games in 1983 and won a bronze medal. Apart from water-skiing, he also enjoys snow skiing and tennis. A lover of jazz music, he has occasionally performed at pubs and charity events.16


Family
Wife: Mary Eu17
Sons: Richard Eu (the Third), Anthony Eu, and Christopher Eu18



Author

Isabel Ong



References
1. Low, K. T. (Ed.). (2006). Who's who in Singapore 2006. Singapore: Who's who Pub, p. 134. (Call no.: RSING 920.05957 WHO)
2. Lee, M. (2017, July 8). Eu Yan Sang boss steps down after 28 years. The Straits Times. Retrieved from Factiva via NLB's eResources website: http://eresources.nlb.gov.sg 
3. Yeung, H. W. C. (2004). Chinese capitalism in a global era: Towards hybrid capitalism. London; New York, N.Y.: Routledge, pp. 147–152. (Call no.: RSING 330.12208995105 YEU)
4. Ernst & Young. (n.d.). Richard Eu named EY Entrepreneur of the Year 2011 Singapore. Retrieved from Ernst & Young website: http://www.ey.com/SG/en/About-us/Entrepreneurship/Entrepreneur-Of-The-Year/EOY---Award-winners-2011
5. Eu Yan Sang. Board and Management. Retrieved from Eu Yan Sang website: http://www.euyansang.com.sg/board-management/eyscorporate15.html
6. Birth of a medicine empire. (1993, September 2). The Straits Times, p. 6; The Eu behind EYS. (2000, July 5). The Straits Times, p. 5. Retrieved from NewspaperSG; Asiabiotech. (2007). Interview with Richard Eu. (Vol. 11). No. 1228. Retrieved from Asiabiotech website: http://www.asiabiotech.com/publication/apbn/11/english/preserved-docs/1117n18/1222_1228.pdf
7. Koh, T., et als. (Eds.). (2006). Singapore: The encyclopedia. Singapore: Editions Didier Millet in association with the National Heritage Board, p. 183. (Call no.: RSING 959.57003 SIN-[HIS])
8. Koh, T., et als. (Eds.). (2006). Singapore: The encyclopedia. Singapore: Editions Didier Millet in association with the National Heritage Board, p. 183. (Call no.: RSING 959.57003 SIN-[HIS]); Kang, W. C. (2008, July 7). Manager@Work: Growing and managing a legacy. The Edge Singapore. Retrieved from Factiva via NLB’s eResources website: http://eresources.nlb.gov.sg/
9. L. Y. L. (1994, January). Medicine man. Singapore Tatler, 12(136), 48. (Call no.: RSING 959.57 ST-[HIS])
10. Ee, J. (2003, May 31). Measure of Worth. The Straits Times, p. 3; The Eu behind EYS. (2000, July 5). The Straits Times, p. 5. Retrieved from NewspaperSG; Kang, W. C. (2008, July 7). Manager@Work: Growing and managing a legacy. The Edge Singapore. Retrieved from Factiva via NLB’s eResources website: http://eresources.nlb.gov.sg/; Yeung, H. W. C. (2004). Chinese capitalism in a global era: Towards hybrid capitalism. London; New York, N.Y.: Routledge, p. 148. (Call no.: RSING 330.12208995105 YEU)
11. Loh, S. (1993, September 2). Eu family regains Eu Yan Sang. The Straits Times, p. 6. Retrieved from NewspaperSG; Ernst & Young. Richard Eu. Retrieved from Ernst & Young website: http://www.ey.com/SG/en/About-us/Entrepreneurship/Entrepreneur-Of-The-Year/Be-inspired_Richard-Eu
12. Saywell, T. (2003, August 7). CEO Call: Richard Eu, Eu Yan Sang. Far Eastern Economic Review. Retrieved from Factiva via NLB’s eResources website: http://eresources.nlb.gov.sg/
13. Eu Yan Sang sets up retail chain. (1992, July 21). The Business Times, p. 4. Retrieved from NewspaperSG.
14. L. Y. L. (1994, January). Medicine man. Singapore Tatler, 12(136), 48. (Call no.: RSING 959.57 ST-[HIS])
15. Koh, T., et als. (Eds.). (2006). Singapore: The encyclopedia. Singapore: Editions Didier Millet in association with the National Heritage Board, p. 185. (Call no.: RSING 959.57003 SIN-[HIS]); Eu Yan Sang. Milestones. Retrieved from Eu Yan Sang website: http://www.euyansang.com.sg/our-milestone/milestonearticle.html; Asiabiotech. (2007). Interview with Richard Eu. (Vol. 11). No. 1228. Retrieved from Asiabiotech website: http://www.asiabiotech.com/publication/apbn/11/english/preserved-docs/1117n18/1222_1228.pdf; Ee, J. (2003, May 31). Ee, J. (2003, May 31). Measure of Worth. The Business Times, p. 3; Ong, R. (2002, August 30). Eu Yan Sang net profit rises 6.6% to $6m. The Business Times, p. 4. Retrieved from NewspaperSG; Saywell, T. (2003, August 7). CEO Call: Richard Eu, Eu Yan Sang. Far Eastern Economic Review. Retrieved from Factiva via NLB’s eResources website: http://eresources.nlb.gov.sg/; Foo, A. (2013, July 2). An old hand on the world stage and still growing. The Straits Times, p. 11. Retrieved from NewspaperSG.
16. Kerk, C. (2000, June 28). Medicine man who sings the blues for relaxation. The Business Times, p. 2. Retrieved from NewspaperSG; Koh, T., et al. (Eds.). (2006). Singapore: The encyclopedia. Singapore: Editions Didier Millet in association with the National Heritage Board, p. 183. (Call no.: RSING 959.57003 SIN-[HIS]); Saywell, T. (2003, August 7). CEO Call: Richard Eu, Eu Yan Sang. Far Eastern Economic Review. Retrieved from Factiva via NLB’s eResources website: http://eresources.nlb.gov.sg/
17. L. Y. L. (1994, January). Medicine man. Singapore Tatler, 12(136), 48. (Call no.: RSING 959.57 ST-[HIS])
18. L. Y. L. (1994, January). Medicine man. Singapore Tatler, 12(136), 48. (Call no.: RSING 959.57 ST-[HIS])



The information in this article is valid as at 2 February 2018 and correct as far as we are able to ascertain from our sources. It is not intended to be an exhaustive or complete history of the subject. Please contact the Library for further reading materials on the topic.

Subject
Medicine, Chinese--Biography
Businessmen--Singapore--Biography
Eu, Richard Yee Ming, 1947-
Personalities
Personalities>>Biographies
Business, finance and industry>>Industry>>Healthcare and medicine
Commerce and Industry
Trade and industry
Medicine, Chinese--Singapore