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The interview is pretty standard, run-of-the-mill stuff.
But is a chance for Got DidiLong to show off his trophy wife.
Me & My Money: Investing with passion and interest important to make ventures a success
Mr Dilong Goh, managing director of Giantech.ST PHOTO: KUA CHEE SIONG
Sue-Ann Tan
May 9, 2021
SINGAPORE - Entrepreneur Dilong Goh believes that showing interest and passion about your investments and just where your money is going is a better approach than merely passively following what others tell you to buy.
Mr Goh, the 45-year-old managing director of marine company Giantech Engineering, says: "I think there are two main types of investors.
"One type invests based on what others say, such as their family, books, friends, stock broker, insurance agent or property agent.
"But there are others who are at a stage in life where they have certain years of experience in investments in certain areas, have passion for their investments and have personal ideas of what they should be doing."
He added that for an investor to do well, acquiring experience and knowledge, coupled with interest and passion, is important.
That is why Mr Goh pours his energy into his business, which was founded in 2001 by his marine engineer father to provide maintenance services for marine equipment on ships. Mr Goh himself joined the firm in 2004.
What started as a one-man show in a Housing Board flat now has 21 staff and recorded annual turnover 2019 of around $5 million in 2019.
Mr Goh said: "Our business and the marine and offshore industry in Singapore have both transformed in the last two decades.
"We realised that what was ignored by others in the marine industry was the importance and revenue potential of providing after-sales maintenance for equipment throughout their life-cycles.
"Even the original equipment makers of marine equipment that were enjoying huge order books for supplying new equipment were not focused on the after-sales market."
The firm bridges this gap by providing engineering services, spare parts, technology and training to help ship owners maintain equipment so they can operate optimally for typically 15 to 20 years.
Mr Goh noted that because of travel restrictions last year, ships out at sea were struggling to get service engineers on board to tackle equipment failure.
This prompted Giantech to launch an app in October to help crew undertake basic troubleshooting and maintain equipment.
"We are also working on our own unique version of business-to-business e-commerce website, and developing capabilities for data-analytics. All these measures have been accelerated because of Covid-19," said Mr Goh, who holds a degree in communication studies from Nanyang Technological University.
He is married to Ms Jade Yip, 39, director of lifestyle design firm Shevron, which went into making masks last year. They have three children aged five to nine.
Mr Dilong Goh with his wife Jade Yip at their home, on Feb 24, 2021. ST PHOTO: KUA CHEE SIONG
Q: What's in your portfolio?
A: I have some small holdings of counters in Singapore like ComfortDelgro, UIC, Singtel, SIA. I also hold some overseas counters in AIG and Apple.
I also invested in cryptocurrencies many years ago that have done well recently.
My wife and I have many endowment policies that I bought when in my younger days when I was an agent at AIA.
We also have some industrial properties via the business, as well as our house that we have just moved into. We have some very small properties in other countries like Malaysia and the United States.
I was dabbling in Bitcoin and alt-coins for quite a while. But I got busy with work and was caught with too much alt-coins when the cryptocurrency market crashed a few years ago.
But my Bitcoin portfolio has recently done very well and I have overall covered and made some money. I have in the last few months been changing some of my portfolio into Ethereum.
Roughly 50 per cent of my portfolio is in property, with the remaining 40 per cent in shares and crytocurrency and 10 per cent in endowment plans.
My average annual returns were about 15 per cent for the properties, 10 per cent for the shares and 10 per cent on my endowment plans.
MORE ON THIS TOPIC
Me & My Money: Hatch early saving plan and bank on professionals to grow nest egg
Me & My Money: Time is money for lover of rare watches
Q: How did you get interested in investing?
A: I had attended quite a few investments, stocks and properties seminars in Malaysia and Singapore when I was a young adult. The latest seminar I attended was about three years ago. It was a local property seminar and that was good use of my money.
In my early years in AIA, I spent time dwelling on financial portfolios for customers and receiving exposure to funds and endowment plans. That also made me aware of the importance of investment and retirement planning.
Q: Describe your investing strategy.
A: One of the key investments in the future will be my own business. I think that's better than putting cash in any other business which is not mine because I understand it and I know the investments will get the intended return on investments.
I will also be looking into diversifying some investments into properties and some stocks and (exchange-traded funds), but I am still trying to understand more and find my footing there.
Q: What else is in your financial plan?
A: We have a couple of endowment plans running for the kids. We are also thinking of getting back to investment in properties when our business is doing better. We are also looking at opportunities to invest in other high potential smaller companies, by ourselves or with partners.
Q: How are you planning for retirement?
A: My wife and I are looking at opportunities in properties to build up our retirement nest from what we have learnt.
Mr Dilong Goh with his wife Jade Yip at their home, on Feb 24, 2021. ST PHOTO: KUA CHEE SIONG
I plan to continue working. So while I will be hopefully taking longer breaks when I retire, I envision that I will be coming back from my holidays to some form of consulting business.
Q: Moneywise, what were your growing-up years like?
A: My father was a marine engineer and taxi driver, while my mother was a housewife.
He is now semi-retired, helping out with deliveries off and on in Giantech and mostly enjoying life.
We lived in a four-room Housing Board flat in Ghim Moh, before moving in to a bigger one in Choa Chu Kang.
I have two brothers. One is a captain in Singapore Airlines and the other is a director in a venture capital firm.
Growing up, we were a middle-income family. My father drove a taxi after his main job into the wee hours everyday to supplement the family income. We were given all the support we needed to excel in school although we were not rich.
I started working in insurance after my National Service to help out my family finances.
The highlight of every weekend for me as a child was to visit a McDonald's in Shenton Way. This was done even when my parents were down to their last dollars.
Because of this, I grew up with the impression that earning money is hard work and a responsibility of adulthood. The concept helped me take things seriously and commit to my various endeavours, because it was not just about passion or good business concepts, but they have to put bread on the table.
MORE ON THIS TOPIC
Me & My Money: Wealth adviser banks on knowledge, diversification when investing
Me & My Money: Making the world his oyster with a globally diversified investment portfolio
Q: Home is now ...
A: It is a landed two-storey house in the north, measuring 4,500 sq ft.
Q: I drive ...
A: A silver grey Lexus NX300
Best and worst bets
Q: What has been your biggest investing mistake?
A: It occurred in the early 2000s when I invested money I earned during my school days in a franchise of a cafe along Beach Road with two other friends.
That turned out to be run by scammers. I lost about $80,000 all in all, which was a lot for me at that age.
I learnt to trust my own instincts and also that of my closest friends.
Because of that, nowadays I consult my wife for my major decisions.
Q: And your best investment?
A: My first property purchased was a good one. That was our first office for the business in 2007.
We bought the 1,400 sq ft unit at approximately $200,000 at that time.
Recently, the selling price for a similar unit was close to $600,000.
We were torn at that time when we needed an office to rent or to buy. At that time, $200,000 for a unit seemed also high but we figured that the monthly instalments was something we could handle, so we took the leap.
But is a chance for Got DidiLong to show off his trophy wife.
Me & My Money: Investing with passion and interest important to make ventures a success
Mr Dilong Goh, managing director of Giantech.ST PHOTO: KUA CHEE SIONG
Sue-Ann Tan
May 9, 2021
SINGAPORE - Entrepreneur Dilong Goh believes that showing interest and passion about your investments and just where your money is going is a better approach than merely passively following what others tell you to buy.
Mr Goh, the 45-year-old managing director of marine company Giantech Engineering, says: "I think there are two main types of investors.
"One type invests based on what others say, such as their family, books, friends, stock broker, insurance agent or property agent.
"But there are others who are at a stage in life where they have certain years of experience in investments in certain areas, have passion for their investments and have personal ideas of what they should be doing."
He added that for an investor to do well, acquiring experience and knowledge, coupled with interest and passion, is important.
That is why Mr Goh pours his energy into his business, which was founded in 2001 by his marine engineer father to provide maintenance services for marine equipment on ships. Mr Goh himself joined the firm in 2004.
What started as a one-man show in a Housing Board flat now has 21 staff and recorded annual turnover 2019 of around $5 million in 2019.
Mr Goh said: "Our business and the marine and offshore industry in Singapore have both transformed in the last two decades.
"We realised that what was ignored by others in the marine industry was the importance and revenue potential of providing after-sales maintenance for equipment throughout their life-cycles.
"Even the original equipment makers of marine equipment that were enjoying huge order books for supplying new equipment were not focused on the after-sales market."
The firm bridges this gap by providing engineering services, spare parts, technology and training to help ship owners maintain equipment so they can operate optimally for typically 15 to 20 years.
Mr Goh noted that because of travel restrictions last year, ships out at sea were struggling to get service engineers on board to tackle equipment failure.
This prompted Giantech to launch an app in October to help crew undertake basic troubleshooting and maintain equipment.
"We are also working on our own unique version of business-to-business e-commerce website, and developing capabilities for data-analytics. All these measures have been accelerated because of Covid-19," said Mr Goh, who holds a degree in communication studies from Nanyang Technological University.
He is married to Ms Jade Yip, 39, director of lifestyle design firm Shevron, which went into making masks last year. They have three children aged five to nine.
Mr Dilong Goh with his wife Jade Yip at their home, on Feb 24, 2021. ST PHOTO: KUA CHEE SIONG
Q: What's in your portfolio?
A: I have some small holdings of counters in Singapore like ComfortDelgro, UIC, Singtel, SIA. I also hold some overseas counters in AIG and Apple.
I also invested in cryptocurrencies many years ago that have done well recently.
My wife and I have many endowment policies that I bought when in my younger days when I was an agent at AIA.
We also have some industrial properties via the business, as well as our house that we have just moved into. We have some very small properties in other countries like Malaysia and the United States.
I was dabbling in Bitcoin and alt-coins for quite a while. But I got busy with work and was caught with too much alt-coins when the cryptocurrency market crashed a few years ago.
But my Bitcoin portfolio has recently done very well and I have overall covered and made some money. I have in the last few months been changing some of my portfolio into Ethereum.
Roughly 50 per cent of my portfolio is in property, with the remaining 40 per cent in shares and crytocurrency and 10 per cent in endowment plans.
My average annual returns were about 15 per cent for the properties, 10 per cent for the shares and 10 per cent on my endowment plans.
Me & My Money: Hatch early saving plan and bank on professionals to grow nest egg
Me & My Money: Time is money for lover of rare watches
Q: How did you get interested in investing?
A: I had attended quite a few investments, stocks and properties seminars in Malaysia and Singapore when I was a young adult. The latest seminar I attended was about three years ago. It was a local property seminar and that was good use of my money.
In my early years in AIA, I spent time dwelling on financial portfolios for customers and receiving exposure to funds and endowment plans. That also made me aware of the importance of investment and retirement planning.
Q: Describe your investing strategy.
A: One of the key investments in the future will be my own business. I think that's better than putting cash in any other business which is not mine because I understand it and I know the investments will get the intended return on investments.
I will also be looking into diversifying some investments into properties and some stocks and (exchange-traded funds), but I am still trying to understand more and find my footing there.
Q: What else is in your financial plan?
A: We have a couple of endowment plans running for the kids. We are also thinking of getting back to investment in properties when our business is doing better. We are also looking at opportunities to invest in other high potential smaller companies, by ourselves or with partners.
Q: How are you planning for retirement?
A: My wife and I are looking at opportunities in properties to build up our retirement nest from what we have learnt.
Mr Dilong Goh with his wife Jade Yip at their home, on Feb 24, 2021. ST PHOTO: KUA CHEE SIONG
I plan to continue working. So while I will be hopefully taking longer breaks when I retire, I envision that I will be coming back from my holidays to some form of consulting business.
Q: Moneywise, what were your growing-up years like?
A: My father was a marine engineer and taxi driver, while my mother was a housewife.
He is now semi-retired, helping out with deliveries off and on in Giantech and mostly enjoying life.
We lived in a four-room Housing Board flat in Ghim Moh, before moving in to a bigger one in Choa Chu Kang.
I have two brothers. One is a captain in Singapore Airlines and the other is a director in a venture capital firm.
Growing up, we were a middle-income family. My father drove a taxi after his main job into the wee hours everyday to supplement the family income. We were given all the support we needed to excel in school although we were not rich.
I started working in insurance after my National Service to help out my family finances.
The highlight of every weekend for me as a child was to visit a McDonald's in Shenton Way. This was done even when my parents were down to their last dollars.
Because of this, I grew up with the impression that earning money is hard work and a responsibility of adulthood. The concept helped me take things seriously and commit to my various endeavours, because it was not just about passion or good business concepts, but they have to put bread on the table.
Me & My Money: Wealth adviser banks on knowledge, diversification when investing
Me & My Money: Making the world his oyster with a globally diversified investment portfolio
Q: Home is now ...
A: It is a landed two-storey house in the north, measuring 4,500 sq ft.
Q: I drive ...
A: A silver grey Lexus NX300
Best and worst bets
Q: What has been your biggest investing mistake?
A: It occurred in the early 2000s when I invested money I earned during my school days in a franchise of a cafe along Beach Road with two other friends.
That turned out to be run by scammers. I lost about $80,000 all in all, which was a lot for me at that age.
I learnt to trust my own instincts and also that of my closest friends.
Because of that, nowadays I consult my wife for my major decisions.
Q: And your best investment?
A: My first property purchased was a good one. That was our first office for the business in 2007.
We bought the 1,400 sq ft unit at approximately $200,000 at that time.
Recently, the selling price for a similar unit was close to $600,000.
We were torn at that time when we needed an office to rent or to buy. At that time, $200,000 for a unit seemed also high but we figured that the monthly instalments was something we could handle, so we took the leap.
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