Chang Yun Chung - Revision history

Kimberly Wong at 03:18, 10 November 2022

2022-11-10T03:18:01Z

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	==References / Citations==		==References / Citations==
	<references />		<references />
	[[Category:~~Singapore~~ Entrepreneurs & Businessmen]]		[[Category: Entrepreneurs & Businessmen]]

Kimberly Wong: Add Sub-category

2022-11-03T23:18:12Z

Add Sub-category

← Older revision		Revision as of 07:18, 4 November 2022
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	==References / Citations==		==References / Citations==
	<references />		<references />
	[[Category:~~People of Interest~~]]		[[Category:Singapore Entrepreneurs & Businessmen]]

Dayana Rizal: /* Growth & recognition */

2020-09-09T06:14:03Z

Growth & recognition

← Older revision		Revision as of 14:14, 9 September 2020
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	====Growth & recognition====		====Growth & recognition====
	PIL was the first few companies to break into the Chinese market.<ref>Chen, Huifen. “Charting the course of PIL.” ''The Business Times.'' February 3, 2005. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> They established trade links with China and launched three new routes: one to East Africa, one to the Persian Gulf and one to the Red Sea.<ref>Chen, Huifen. “Charting the course of PIL.” ''The Business Times.'' February 3, 2005. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> As PIL was one of the first local shipping companies in Singapore at the time, he convinced then-Finance Minister Goh Keng Swee to award PIL with the “Pioneer Status”.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> This status granted the company tax exemptions on profits, provided that half of the staff were Singaporeans and half of all the ship repairs were done in Singapore.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> By the 1990s, PIL had expanded to serve 83 countries and ports.<ref>“[https://www.pilship.com/en-our-history-and-milestones-pil-pacific-international-lines/82.html#content_2 Our Local Agents]”. ''Pacific International Lines.'' Accessed 23 December 2019.</ref> In 2018, Chang Yun Chung officially handed over the chairmanship of PIL to his son, [[Teo Siong Seng\|Teo Siong Seng]], while he went on to serve as Chairman Emeritus.<ref>Faulder, Dominic. “[https://asia.nikkei.com/Spotlight/Cover-Story/The-silver-tsunami-Ten-nonagenarians-who-shaped-Asia-in-2018 The 'silver tsunami': Ten nonagenarians who shaped Asia in 2018]”. ''Nikkei Asian Review.'' January 2, 2019. Accessed 13 December 2019.</ref>		PIL was the first few companies to break into the Chinese market.<ref>Chen, Huifen. “Charting the course of PIL.” ''The Business Times.'' February 3, 2005. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> They established trade links with China and launched three new routes: one to East Africa, one to the Persian Gulf and one to the Red Sea.<ref>Chen, Huifen. “Charting the course of PIL.” ''The Business Times.'' February 3, 2005. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> As PIL was one of the first local shipping companies in Singapore at the time, he convinced then-Finance Minister Goh Keng Swee to award PIL with the “Pioneer Status”.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> This status granted the company tax exemptions on profits, provided that half of the staff were Singaporeans and half of all the ship repairs were done in Singapore.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> By the 1990s, PIL had expanded to serve 83 countries and ports.<ref>“[https://www.pilship.com/en-our-history-and-milestones-pil-pacific-international-lines/82.html#content_2 Our Local Agents]”. ''Pacific International Lines.'' Accessed 23 December 2019.</ref>

			===== Succession =====
			In 2018, Chang Yun Chung officially handed over the chairmanship of PIL to his son, [[Teo Siong Seng\|Teo Siong Seng]], while he went on to serve as Chairman Emeritus.<ref>Faulder, Dominic. “[https://asia.nikkei.com/Spotlight/Cover-Story/The-silver-tsunami-Ten-nonagenarians-who-shaped-Asia-in-2018 The 'silver tsunami': Ten nonagenarians who shaped Asia in 2018]”. ''Nikkei Asian Review.'' January 2, 2019. Accessed 13 December 2019.</ref>
	==Personal life==		==Personal life==
	[[File:Teo Siong Seng and family.jpg\|thumb\|''Chang Yun Chung with three of his children. Photo from [https://www.forbes.com/sites/jonburgos/2019/08/28/singapores-richest-2019-at-101-the-worlds-oldest-billionaire-has-no-plans-to-slow-down/#3641b8391f70 Forbes].'']]		[[File:Teo Siong Seng and family.jpg\|thumb\|''Chang Yun Chung with three of his children. Photo from [https://www.forbes.com/sites/jonburgos/2019/08/28/singapores-richest-2019-at-101-the-worlds-oldest-billionaire-has-no-plans-to-slow-down/#3641b8391f70 Forbes].'']]

Dayana Rizal: /* Wife & children */

2020-09-09T06:12:55Z

Wife & children

Show changes

Dayana Rizal: /* Health */

2020-09-09T06:09:02Z

Health

← Older revision		Revision as of 14:09, 9 September 2020
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	===Health===		===Health===
	When he was younger, Yun Chung woke up at 6 AM every morning and jogged daily at the Singapore Botanic Gardens.<ref>Indran, J. D. “[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19771225-1.2.42?ST=1&AT Our King of the Seas]”. ''The Straits Times.'' December 25, 1977. Accessed 11 December 2019.</ref> Although he had undergone spinal operations between the 1980s and the 1990s, he remained active in the day-to-day operations of PIL as the executive chairman at the time.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> In his advanced age, Yun Chung ~~keeps~~ active by playing golf twice a week. ~~Yun Chung has~~ never smoked, hardly ~~drinks~~ and does not go out at night.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> His favourite food is a bowl of sweet potato porridge.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref>		When he was younger, Yun Chung reportedly woke up at 6 AM every morning and jogged daily at the Singapore Botanic Gardens.<ref>Indran, J. D. “[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19771225-1.2.42?ST=1&AT Our King of the Seas]”. ''The Straits Times.'' December 25, 1977. Accessed 11 December 2019.</ref> Although he had undergone spinal operations between the 1980s and the 1990s, he remained active in the day-to-day operations of PIL as the executive chairman at the time.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> In his advanced age, Yun Chung kept active by playing golf twice a week. He never smoked, hardly drank and does not go out at night.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref>

	==Charity work==		==Charity work==

Dayana Rizal: /* Charity work */

2020-09-09T06:07:50Z

Charity work

← Older revision		Revision as of 14:07, 9 September 2020
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	==Charity work==		==Charity work==
	Yun Chung has taken a proactive role in charity events~~. He gives~~ greater attention to educational causes.<ref>Koh, Angela. “Moving to back bench,” in ''Chang Yun Chung: Steering through the Storms'', 159-173''.'' Singapore: Focus Publishing Ltd., 2012.</ref>		Yun Chung has taken a proactive role in charity events, having given greater attention to educational causes.<ref>Koh, Angela. “Moving to back bench,” in ''Chang Yun Chung: Steering through the Storms'', 159-173''.'' Singapore: Focus Publishing Ltd., 2012.</ref>

	===Educational development in Kinmen, China===		===Educational development in Kinmen, China===

Dayana Rizal at 06:06, 9 September 2020

2020-09-09T06:06:20Z

← Older revision		Revision as of 14:06, 9 September 2020
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	Yun Chung joined Kie Hock Shipping Company in 1948. At the time, the company was known as Thye Hin Guan Brothers - a produce firm run by three brothers.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Yun Chung was appointed the General Manager and after a year, he had helped the brothers to form Kie Hock Shipping Company, having also secured the company's first vessel for S$100,000.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Yun Chung helped to build up the company’s fleet from just one landing vessel in 1949 to 32 shipping vessels in 1967.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> During this period, Yun Chung also served in the capacity of a Director in several other Asian shipping companies, including Hong Kong’s Tranpac Shipping Enterprises Limited.<ref>Benson, Emmanuel Abara. “[https://nairametrics.com/2018/11/30/the-worlds-oldest-billionaire-is-singaporean-chang-yun-chung/ Story of the World's Oldest Billionaire Will Inspire You a Lot]”. ''Nairametrics''. November 30, 2018. Accessed 12 December 2019.</ref> In 1956, Yun Chung was part of a business delegation visiting China that was led by then-Chief Minister David Marshall.<ref>“PIL sailing in the right direction.” ''The Edge Singapore.'' January 31, 2005. Accessed 12 December 2019. Retrieved from Factiva. </ref>		Yun Chung joined Kie Hock Shipping Company in 1948. At the time, the company was known as Thye Hin Guan Brothers - a produce firm run by three brothers.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Yun Chung was appointed the General Manager and after a year, he had helped the brothers to form Kie Hock Shipping Company, having also secured the company's first vessel for S$100,000.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Yun Chung helped to build up the company’s fleet from just one landing vessel in 1949 to 32 shipping vessels in 1967.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> During this period, Yun Chung also served in the capacity of a Director in several other Asian shipping companies, including Hong Kong’s Tranpac Shipping Enterprises Limited.<ref>Benson, Emmanuel Abara. “[https://nairametrics.com/2018/11/30/the-worlds-oldest-billionaire-is-singaporean-chang-yun-chung/ Story of the World's Oldest Billionaire Will Inspire You a Lot]”. ''Nairametrics''. November 30, 2018. Accessed 12 December 2019.</ref> In 1956, Yun Chung was part of a business delegation visiting China that was led by then-Chief Minister David Marshall.<ref>“PIL sailing in the right direction.” ''The Edge Singapore.'' January 31, 2005. Accessed 12 December 2019. Retrieved from Factiva. </ref>
	===Founder & Chairman of Pacific International Lines (PIL) (1967 - present)===		===Founder & Chairman of Pacific International Lines (PIL) (1967 - present)===
	[[File:Chang Yun Chung and Teo Siong Seng.jpg\|thumb\|''Chang Yun Chung ~~handed over his Chairmanship to~~ his fifth son, Teo Siong Seng ~~in 2018 - the year of his 100th birthday~~. Photo from [https://www.cnbc.com/2018/12/05/worlds-oldest-billionaire-yun-chung-chang-goes-to-work-every-day.html CNBC].'']]		[[File:Chang Yun Chung and Teo Siong Seng.jpg\|thumb\|''Chang Yun Chung and his fifth son, Teo Siong Seng. Photo from [https://www.cnbc.com/2018/12/05/worlds-oldest-billionaire-yun-chung-chang-goes-to-work-every-day.html CNBC].'']]
	Yun Chung set up Pacific International Lines (PIL) in March 1967 after leaving Kie Hock Shipping.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> He was 49 years old at the time. PIL started with two second-hand Dutch freighters named Kota Singa ex Siberot and Kota Naga ex Sinabang.<ref>Faulder, Dominic. “[https://asia.nikkei.com/Spotlight/Cover-Story/The-silver-tsunami-Ten-nonagenarians-who-shaped-Asia-in-2018 The 'silver tsunami': Ten nonagenarians who shaped Asia in 2018]”. ''Nikkei Asian Review.'' January 2, 2019. Accessed 13 December 2019.</ref><ref>“[https://www.pilship.com/data/menu/pil_corporate_brochure.pdf PIL Corporate Brochure]”. ''Pacific International Lines''. Singapore, SG: Pacific International Lines, 2012. Accessed 13 December 2019.</ref> The first PIL office was in a shophouse at Market Street.<ref>Joseph, George. “Father-son success story.” ''The Business Times.'' May 13, 2006. Accessed 18 November 2019. Retrieved from NewspaperSG.</ref> Within the same year of their incorporation, PIL opened their first overseas office in Jakarta.<ref>“[https://www.pilship.com/data/menu/pil_corporate_brochure.pdf PIL Corporate Brochure]”. ''Pacific International Lines''. Singapore, SG: Pacific International Lines, 2012. Accessed 13 December 2019.</ref>		Yun Chung set up Pacific International Lines (PIL) in March 1967 after leaving Kie Hock Shipping.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> He was 49 years old at the time. PIL started with two second-hand Dutch freighters named Kota Singa ex Siberot and Kota Naga ex Sinabang.<ref>Faulder, Dominic. “[https://asia.nikkei.com/Spotlight/Cover-Story/The-silver-tsunami-Ten-nonagenarians-who-shaped-Asia-in-2018 The 'silver tsunami': Ten nonagenarians who shaped Asia in 2018]”. ''Nikkei Asian Review.'' January 2, 2019. Accessed 13 December 2019.</ref><ref>“[https://www.pilship.com/data/menu/pil_corporate_brochure.pdf PIL Corporate Brochure]”. ''Pacific International Lines''. Singapore, SG: Pacific International Lines, 2012. Accessed 13 December 2019.</ref> The first PIL office was in a shophouse at Market Street.<ref>Joseph, George. “Father-son success story.” ''The Business Times.'' May 13, 2006. Accessed 18 November 2019. Retrieved from NewspaperSG.</ref> Within the same year of their incorporation, PIL opened their first overseas office in Jakarta.<ref>“[https://www.pilship.com/data/menu/pil_corporate_brochure.pdf PIL Corporate Brochure]”. ''Pacific International Lines''. Singapore, SG: Pacific International Lines, 2012. Accessed 13 December 2019.</ref>

	==== Growth & recognition ====		====Growth & recognition====
	PIL was the first few companies to break into the Chinese market.<ref>Chen, Huifen. “Charting the course of PIL.” ''The Business Times.'' February 3, 2005. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> They established trade links with China and launched three new routes: one to East Africa, one to the Persian Gulf and one to the Red Sea.<ref>Chen, Huifen. “Charting the course of PIL.” ''The Business Times.'' February 3, 2005. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> As PIL was one of the first local shipping companies in Singapore at the time, Yun Chung convinced then-Finance Minister Goh Keng Swee to award PIL with the “Pioneer Status”.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> This status granted the company tax exemptions on profits, provided that half of the staff were Singaporeans and half of all the ship repairs were done in Singapore.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> By the 1990s, PIL had expanded to serve 83 countries and ports.<ref>“[https://www.pilship.com/en-our-history-and-milestones-pil-pacific-international-lines/82.html#content_2 Our Local Agents]”. ''Pacific International Lines.'' Accessed 23 December 2019.</ref> In 2018, Yun Chung officially handed over the chairmanship of PIL to his son, [[Teo Siong Seng\|Siong Seng]], while he went on to serve as Chairman Emeritus.<ref>Faulder, Dominic. “[https://asia.nikkei.com/Spotlight/Cover-Story/The-silver-tsunami-Ten-nonagenarians-who-shaped-Asia-in-2018 The 'silver tsunami': Ten nonagenarians who shaped Asia in 2018]”. ''Nikkei Asian Review.'' January 2, 2019. Accessed 13 December 2019.</ref>		PIL was the first few companies to break into the Chinese market.<ref>Chen, Huifen. “Charting the course of PIL.” ''The Business Times.'' February 3, 2005. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> They established trade links with China and launched three new routes: one to East Africa, one to the Persian Gulf and one to the Red Sea.<ref>Chen, Huifen. “Charting the course of PIL.” ''The Business Times.'' February 3, 2005. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> As PIL was one of the first local shipping companies in Singapore at the time, Yun Chung convinced then-Finance Minister Goh Keng Swee to award PIL with the “Pioneer Status”.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> This status granted the company tax exemptions on profits, provided that half of the staff were Singaporeans and half of all the ship repairs were done in Singapore.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> By the 1990s, PIL had expanded to serve 83 countries and ports.<ref>“[https://www.pilship.com/en-our-history-and-milestones-pil-pacific-international-lines/82.html#content_2 Our Local Agents]”. ''Pacific International Lines.'' Accessed 23 December 2019.</ref> In 2018, Yun Chung officially handed over the chairmanship of PIL to his son, [[Teo Siong Seng\|Teo Siong Seng]], while he went on to serve as Chairman Emeritus.<ref>Faulder, Dominic. “[https://asia.nikkei.com/Spotlight/Cover-Story/The-silver-tsunami-Ten-nonagenarians-who-shaped-Asia-in-2018 The 'silver tsunami': Ten nonagenarians who shaped Asia in 2018]”. ''Nikkei Asian Review.'' January 2, 2019. Accessed 13 December 2019.</ref>
	==Personal life==		==Personal life==
	[[File:Teo Siong Seng and family.jpg\|thumb\|''Chang Yun Chung with three of his children. Photo from [https://www.forbes.com/sites/jonburgos/2019/08/28/singapores-richest-2019-at-101-the-worlds-oldest-billionaire-has-no-plans-to-slow-down/#3641b8391f70 Forbes].'']]		[[File:Teo Siong Seng and family.jpg\|thumb\|''Chang Yun Chung with three of his children. Photo from [https://www.forbes.com/sites/jonburgos/2019/08/28/singapores-richest-2019-at-101-the-worlds-oldest-billionaire-has-no-plans-to-slow-down/#3641b8391f70 Forbes].'']]

Dayana Rizal: /* Pacific International Lines (PIL) (1967 - present) */

2020-09-09T06:05:18Z

Pacific International Lines (PIL) (1967 - present)

← Older revision		Revision as of 14:05, 9 September 2020
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	==Career==		==Career==
	===Early career (1945)===		===Early career (1945)===
	[[File:Young Chang Yun Chung.jpg\|thumb\|''A younger Chang Yun Chung. Photo from [https://nairametrics.com/2018/11/30/the-worlds-oldest-billionaire-is-singaporean-chang-yun-chung/ source]'']]In 1945, Yun Chung left Malacca and returned to Singapore where he started up his first import-export business.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> With his initial capital, he bought ships and dabbled in trade with Sumatra and Java. However, his business failed~~, causing him to lose all his money~~.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>		[[File:Young Chang Yun Chung.jpg\|thumb\|''A younger Chang Yun Chung. Photo from [https://nairametrics.com/2018/11/30/the-worlds-oldest-billionaire-is-singaporean-chang-yun-chung/ source]'']]In 1945, Yun Chung left Malacca and returned to Singapore where he started up his first import-export business.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> With his initial capital, he bought ships and dabbled in trade with Sumatra and Java. However, his business failed.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>

	===Kie Hock Shipping Company (1948 - 1967)===		===General Manager of Kie Hock Shipping Company (1948 - 1967)===
	Yun Chung joined Kie Hock in 1948. At the time, the company was known as Thye Hin Guan Brothers - a produce firm run by three brothers.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Yun Chung was appointed the General Manager and after a year, he had helped the brothers to form Kie Hock Shipping Company, having also secured the company's first vessel for S$100,000.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Yun Chung helped to build up the company’s fleet from just one landing vessel in 1949 to 32 shipping vessels in 1967.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> During this period, Yun Chung also served in the capacity of a Director in several other Asian shipping companies, including Hong Kong’s Tranpac Shipping Enterprises Limited.<ref>Benson, Emmanuel Abara. “[https://nairametrics.com/2018/11/30/the-worlds-oldest-billionaire-is-singaporean-chang-yun-chung/ Story of the World's Oldest Billionaire Will Inspire You a Lot]”. ''Nairametrics''. November 30, 2018. Accessed 12 December 2019.</ref> In 1956, Yun Chung was part of a business delegation visiting China that was led by then-Chief Minister David Marshall.<ref>“PIL sailing in the right direction.” ''The Edge Singapore.'' January 31, 2005. Accessed 12 December 2019. Retrieved from Factiva. </ref>		Yun Chung joined Kie Hock Shipping Company in 1948. At the time, the company was known as Thye Hin Guan Brothers - a produce firm run by three brothers.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Yun Chung was appointed the General Manager and after a year, he had helped the brothers to form Kie Hock Shipping Company, having also secured the company's first vessel for S$100,000.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Yun Chung helped to build up the company’s fleet from just one landing vessel in 1949 to 32 shipping vessels in 1967.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> During this period, Yun Chung also served in the capacity of a Director in several other Asian shipping companies, including Hong Kong’s Tranpac Shipping Enterprises Limited.<ref>Benson, Emmanuel Abara. “[https://nairametrics.com/2018/11/30/the-worlds-oldest-billionaire-is-singaporean-chang-yun-chung/ Story of the World's Oldest Billionaire Will Inspire You a Lot]”. ''Nairametrics''. November 30, 2018. Accessed 12 December 2019.</ref> In 1956, Yun Chung was part of a business delegation visiting China that was led by then-Chief Minister David Marshall.<ref>“PIL sailing in the right direction.” ''The Edge Singapore.'' January 31, 2005. Accessed 12 December 2019. Retrieved from Factiva. </ref>
	===Pacific International Lines (PIL) (1967 - present)===		===Founder & Chairman of Pacific International Lines (PIL) (1967 - present)===
	[[File:Chang Yun Chung and Teo Siong Seng.jpg\|thumb\|''Chang Yun Chung handed over his Chairmanship to his fifth son, Teo Siong Seng in 2018 - the year of his 100th birthday. Photo from [https://www.cnbc.com/2018/12/05/worlds-oldest-billionaire-yun-chung-chang-goes-to-work-every-day.html CNBC].'']]		[[File:Chang Yun Chung and Teo Siong Seng.jpg\|thumb\|''Chang Yun Chung handed over his Chairmanship to his fifth son, Teo Siong Seng in 2018 - the year of his 100th birthday. Photo from [https://www.cnbc.com/2018/12/05/worlds-oldest-billionaire-yun-chung-chang-goes-to-work-every-day.html CNBC].'']]
	Yun Chung set up Pacific International Lines (PIL) in March 1967 after leaving Kie Hock Shipping.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> He was 49 years old at the time. PIL started with two second-hand Dutch freighters named Kota Singa ex Siberot and Kota Naga ex Sinabang.<ref>Faulder, Dominic. “[https://asia.nikkei.com/Spotlight/Cover-Story/The-silver-tsunami-Ten-nonagenarians-who-shaped-Asia-in-2018 The 'silver tsunami': Ten nonagenarians who shaped Asia in 2018]”. ''Nikkei Asian Review.'' January 2, 2019. Accessed 13 December 2019.</ref><ref>“[https://www.pilship.com/data/menu/pil_corporate_brochure.pdf PIL Corporate Brochure]”. ''Pacific International Lines''. Singapore, SG: Pacific International Lines, 2012. Accessed 13 December 2019.</ref> The first PIL office was in a shophouse at Market Street.<ref>Joseph, George. “Father-son success story.” ''The Business Times.'' May 13, 2006. Accessed 18 November 2019. Retrieved from NewspaperSG.</ref> Within the same year of their incorporation, PIL opened their first overseas office in Jakarta.<ref>“[https://www.pilship.com/data/menu/pil_corporate_brochure.pdf PIL Corporate Brochure]”. ''Pacific International Lines''. Singapore, SG: Pacific International Lines, 2012. Accessed 13 December 2019.</ref>		Yun Chung set up Pacific International Lines (PIL) in March 1967 after leaving Kie Hock Shipping.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> He was 49 years old at the time. PIL started with two second-hand Dutch freighters named Kota Singa ex Siberot and Kota Naga ex Sinabang.<ref>Faulder, Dominic. “[https://asia.nikkei.com/Spotlight/Cover-Story/The-silver-tsunami-Ten-nonagenarians-who-shaped-Asia-in-2018 The 'silver tsunami': Ten nonagenarians who shaped Asia in 2018]”. ''Nikkei Asian Review.'' January 2, 2019. Accessed 13 December 2019.</ref><ref>“[https://www.pilship.com/data/menu/pil_corporate_brochure.pdf PIL Corporate Brochure]”. ''Pacific International Lines''. Singapore, SG: Pacific International Lines, 2012. Accessed 13 December 2019.</ref> The first PIL office was in a shophouse at Market Street.<ref>Joseph, George. “Father-son success story.” ''The Business Times.'' May 13, 2006. Accessed 18 November 2019. Retrieved from NewspaperSG.</ref> Within the same year of their incorporation, PIL opened their first overseas office in Jakarta.<ref>“[https://www.pilship.com/data/menu/pil_corporate_brochure.pdf PIL Corporate Brochure]”. ''Pacific International Lines''. Singapore, SG: Pacific International Lines, 2012. Accessed 13 December 2019.</ref>

			==== Growth & recognition ====
	PIL was the first few companies to break into the Chinese market.<ref>Chen, Huifen. “Charting the course of PIL.” ''The Business Times.'' February 3, 2005. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> They established trade links with China and launched three new routes: one to East Africa, one to the Persian Gulf and one to the Red Sea.<ref>Chen, Huifen. “Charting the course of PIL.” ''The Business Times.'' February 3, 2005. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> As PIL was one of the first local shipping companies in Singapore at the time, Yun Chung convinced then-Finance Minister Goh Keng Swee to award PIL with the “Pioneer Status”.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> This status granted the company tax exemptions on profits, provided that half of the staff were Singaporeans and half of all the ship repairs were done in Singapore.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref>		PIL was the first few companies to break into the Chinese market.<ref>Chen, Huifen. “Charting the course of PIL.” ''The Business Times.'' February 3, 2005. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> They established trade links with China and launched three new routes: one to East Africa, one to the Persian Gulf and one to the Red Sea.<ref>Chen, Huifen. “Charting the course of PIL.” ''The Business Times.'' February 3, 2005. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> As PIL was one of the first local shipping companies in Singapore at the time, Yun Chung convinced then-Finance Minister Goh Keng Swee to award PIL with the “Pioneer Status”.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> This status granted the company tax exemptions on profits, provided that half of the staff were Singaporeans and half of all the ship repairs were done in Singapore.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> By the 1990s, PIL had expanded to serve 83 countries and ports.<ref>“[https://www.pilship.com/en-our-history-and-milestones-pil-pacific-international-lines/82.html#content_2 Our Local Agents]”. ''Pacific International Lines.'' Accessed 23 December 2019.</ref> In 2018, Yun Chung officially handed over the chairmanship of PIL to his son, [[Teo Siong Seng\|Siong Seng]], while he went on to serve as Chairman Emeritus.<ref>Faulder, Dominic. “[https://asia.nikkei.com/Spotlight/Cover-Story/The-silver-tsunami-Ten-nonagenarians-who-shaped-Asia-in-2018 The 'silver tsunami': Ten nonagenarians who shaped Asia in 2018]”. ''Nikkei Asian Review.'' January 2, 2019. Accessed 13 December 2019.</ref>


	By the 1990s, PIL had expanded to serve 83 countries and ports.<ref>“[https://www.pilship.com/en-our-history-and-milestones-pil-pacific-international-lines/82.html#content_2 Our Local Agents]”. ''Pacific International Lines.'' Accessed 23 December 2019.</ref> In 2018, Yun Chung officially handed over the chairmanship of PIL to his son, [[Teo Siong Seng\|Siong Seng]], while he went on to serve as Chairman Emeritus.<ref>Faulder, Dominic. “[https://asia.nikkei.com/Spotlight/Cover-Story/The-silver-tsunami-Ten-nonagenarians-who-shaped-Asia-in-2018 The 'silver tsunami': Ten nonagenarians who shaped Asia in 2018]”. ''Nikkei Asian Review.'' January 2, 2019. Accessed 13 December 2019.</ref>
	==Personal life==		==Personal life==
	[[File:Teo Siong Seng and family.jpg\|thumb\|''Chang Yun Chung with three of his children. Photo from [https://www.forbes.com/sites/jonburgos/2019/08/28/singapores-richest-2019-at-101-the-worlds-oldest-billionaire-has-no-plans-to-slow-down/#3641b8391f70 Forbes].'']]		[[File:Teo Siong Seng and family.jpg\|thumb\|''Chang Yun Chung with three of his children. Photo from [https://www.forbes.com/sites/jonburgos/2019/08/28/singapores-richest-2019-at-101-the-worlds-oldest-billionaire-has-no-plans-to-slow-down/#3641b8391f70 Forbes].'']]

Dayana Rizal: /* Career */

2020-09-09T06:02:38Z

Career

← Older revision		Revision as of 14:02, 9 September 2020
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	When Japan invaded China in 1937, Quemoy was the first island they occupied. Yun Chung was the first in his family to flee to Singapore. His mother and siblings followed suit about two months later.<ref>Chan, Paul. “[https://www.youtube.com/watch?v=l3_Z7DuYjhY #SecretsSelfMadeBillionaires 0067 Chang Yun Chung World's OldestSelfmadeBillionaire Age 99]”. ''YouTube''. April 15, 2017. Accessed 12 December 2019.</ref>		When Japan invaded China in 1937, Quemoy was the first island they occupied. Yun Chung was the first in his family to flee to Singapore. His mother and siblings followed suit about two months later.<ref>Chan, Paul. “[https://www.youtube.com/watch?v=l3_Z7DuYjhY #SecretsSelfMadeBillionaires 0067 Chang Yun Chung World's OldestSelfmadeBillionaire Age 99]”. ''YouTube''. April 15, 2017. Accessed 12 December 2019.</ref>

	==== Arrest in Malacca ====		====Arrest in Malacca====
	In 1940, Yun Chung moved to Malacca to do business with his maternal uncle.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> His uncle would bring produce from Sumatra while Yun Chung ran the business in Malacca. When the Japanese occupied Malacca in 1941, Yun Chung fled to a rubber estate seven miles away from Malacca.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> However, he was caught twice by the Japanese - once in 1942 and once in 1944 - for supplying food and medicine to the Anti-Japanese Army.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> When Yun Chung was arrested in 1944, he was kept in jail for a year until the Japanese surrender, when he was released.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> He was supposed to be hung or shot while in prison but was kept alive when his mother gave away her possessions to the head of the Kempeitai.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>		In 1940, Yun Chung moved to Malacca to do business with his maternal uncle.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> His uncle would bring produce from Sumatra while Yun Chung ran the business in Malacca. When the Japanese occupied Malacca in 1941, Yun Chung fled to a rubber estate seven miles away from Malacca.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> However, he was caught twice by the Japanese - once in 1942 and once in 1944 - for supplying food and medicine to the Anti-Japanese Army.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> When Yun Chung was arrested in 1944, he was kept in jail for a year until the Japanese surrender, when he was released.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> He was supposed to be hung or shot while in prison but was kept alive when his mother gave away her possessions to the head of the Kempeitai.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>

	==== Return to Singapore ====		====Return to Singapore====
	When the war ended, Yun Chung returned to Singapore to find his father. It was then he realised that his father had been killed by the Japanese. His mother accompanied him back to Malacca where he continued to run the business with his uncle and learnt “a bit of shipping from there”.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>		When the war ended, Yun Chung returned to Singapore to find his father. It was then he realised that his father had been killed by the Japanese. His mother accompanied him back to Malacca where he continued to run the business with his uncle and learnt “a bit of shipping from there”.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>
	~~==Personal life==~~
	[[File:Teo Siong Seng and family.jpg\|thumb\|''Chang Yun Chung (seated) pictured with 3 of his children. Photo from [https://www.forbes.com/sites/jonburgos/2019/08/28/singapores-richest-2019-at-101-the-worlds-oldest-billionaire-has-no-plans-to-slow-down/#3641b8391f70 Forbes].'']]

	~~===Wife & children===~~
	Yun Chung married his first wife, Madam Yap Hong, in 1941, the same year that he met her.<ref>Koh, Angela. “The days of refuge in Nanyang,” in ''Chang Yun Chung: Steering through the Storms'', 43-55''.'' Singapore: Focus Publishing Ltd., 2012.</ref> She passed away on 4 April 1990.<ref>“Untitled.” ''The Straits Times.'' April 4, 1990. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> He is said to have at least three wives and fourteen children, eight sons and six daughters.<ref>Lee, Bryan. “Singapore’s mystery millionaires.” ''The Straits Times.'' August 27, 2006. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> Most of his children work in PIL, although all of them had to start from the bottom and work their way up.<ref>Koh, Angela. “Moving to back bench,” in ''Chang Yun Chung: Steering through the Storms'', 161-173''.'' Singapore: Focus Publishing Ltd., 2012.</ref> His son, [[Teo Siong Seng]], is the current Executive Chairman of Pacific International Lines (PIL).

	~~===Health===~~
	When he was younger, Yun Chung woke up at 6 AM every morning and jogged daily at the Singapore Botanic Gardens.<ref>Indran, J. D. “[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19771225-1.2.42?ST=1&AT Our King of the Seas]”. ''The Straits Times.'' December 25, 1977. Accessed 11 December 2019.</ref> Although he had undergone spinal operations between the 1980s and the 1990s, he remained active in the day-to-day operations of PIL as the executive chairman at the time.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> In his advanced age, Yun Chung keeps active by playing golf twice a week. Yun Chung has never smoked, hardly drinks and does not go out at night.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> His favourite food is a bowl of sweet potato porridge.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref>

	==Career==		==Career==
	[[File:Young Chang Yun Chung.jpg\|thumb\|''(Pictured) A younger Chang Yun Chung. Photo from [https://nairametrics.com/2018/11/30/the-worlds-oldest-billionaire-is-singaporean-chang-yun-chung/ Nairametrics].'']]

	===Early career (1945)===		===Early career (1945)===
	In 1945, Yun Chung left Malacca and returned to Singapore where he started up his first import-export business.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> With his initial capital, he bought ships and dabbled in trade with Sumatra and Java. However, his business failed, causing him to lose all his money.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>		[[File:Young Chang Yun Chung.jpg\|thumb\|''A younger Chang Yun Chung. Photo from [https://nairametrics.com/2018/11/30/the-worlds-oldest-billionaire-is-singaporean-chang-yun-chung/ source]'']]In 1945, Yun Chung left Malacca and returned to Singapore where he started up his first import-export business.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> With his initial capital, he bought ships and dabbled in trade with Sumatra and Java. However, his business failed, causing him to lose all his money.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>

	===Kie Hock Shipping Company (1948 - 1967)===		===Kie Hock Shipping Company (1948 - 1967)===
	Yun Chung joined Kie Hock in 1948. At the time, the company was known as Thye Hin Guan Brothers - a produce firm run by three brothers.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Yun Chung was appointed the General Manager and after a year, he had helped the brothers to form Kie Hock Shipping Company, having also secured the company's first vessel for S$100,000.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Yun Chung helped to build up the company’s fleet from just one landing vessel in 1949 to 32 shipping vessels in 1967.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>		Yun Chung joined Kie Hock in 1948. At the time, the company was known as Thye Hin Guan Brothers - a produce firm run by three brothers.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Yun Chung was appointed the General Manager and after a year, he had helped the brothers to form Kie Hock Shipping Company, having also secured the company's first vessel for S$100,000.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Yun Chung helped to build up the company’s fleet from just one landing vessel in 1949 to 32 shipping vessels in 1967.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> During this period, Yun Chung also served in the capacity of a Director in several other Asian shipping companies, including Hong Kong’s Tranpac Shipping Enterprises Limited.<ref>Benson, Emmanuel Abara. “[https://nairametrics.com/2018/11/30/the-worlds-oldest-billionaire-is-singaporean-chang-yun-chung/ Story of the World's Oldest Billionaire Will Inspire You a Lot]”. ''Nairametrics''. November 30, 2018. Accessed 12 December 2019.</ref> In 1956, Yun Chung was part of a business delegation visiting China that was led by then-Chief Minister David Marshall.<ref>“PIL sailing in the right direction.” ''The Edge Singapore.'' January 31, 2005. Accessed 12 December 2019. Retrieved from Factiva. </ref>


	During this period, Yun Chung also served in the capacity of a Director in several other Asian shipping companies, including Hong Kong’s Tranpac Shipping Enterprises Limited.<ref>Benson, Emmanuel Abara. “[https://nairametrics.com/2018/11/30/the-worlds-oldest-billionaire-is-singaporean-chang-yun-chung/ Story of the World's Oldest Billionaire Will Inspire You a Lot]”. ''Nairametrics''. November 30, 2018. Accessed 12 December 2019.</ref> In 1956, Yun Chung was part of a business delegation visiting China that was led by then-Chief Minister David Marshall.<ref>“PIL sailing in the right direction.” ''The Edge Singapore.'' January 31, 2005. Accessed 12 December 2019. Retrieved from Factiva. </ref>

	===Pacific International Lines (PIL) (1967 - present)===		===Pacific International Lines (PIL) (1967 - present)===
	[[File:Chang Yun Chung and Teo Siong Seng.jpg\|thumb\|''Chang Yun Chung handed over his Chairmanship to his fifth son, Teo Siong Seng in 2018 - the year of his 100th birthday. Photo from [https://www.cnbc.com/2018/12/05/worlds-oldest-billionaire-yun-chung-chang-goes-to-work-every-day.html CNBC].'']]		[[File:Chang Yun Chung and Teo Siong Seng.jpg\|thumb\|''Chang Yun Chung handed over his Chairmanship to his fifth son, Teo Siong Seng in 2018 - the year of his 100th birthday. Photo from [https://www.cnbc.com/2018/12/05/worlds-oldest-billionaire-yun-chung-chang-goes-to-work-every-day.html CNBC].'']]
Line 54:		Line 39:

	By the 1990s, PIL had expanded to serve 83 countries and ports.<ref>“[https://www.pilship.com/en-our-history-and-milestones-pil-pacific-international-lines/82.html#content_2 Our Local Agents]”. ''Pacific International Lines.'' Accessed 23 December 2019.</ref> In 2018, Yun Chung officially handed over the chairmanship of PIL to his son, [[Teo Siong Seng\|Siong Seng]], while he went on to serve as Chairman Emeritus.<ref>Faulder, Dominic. “[https://asia.nikkei.com/Spotlight/Cover-Story/The-silver-tsunami-Ten-nonagenarians-who-shaped-Asia-in-2018 The 'silver tsunami': Ten nonagenarians who shaped Asia in 2018]”. ''Nikkei Asian Review.'' January 2, 2019. Accessed 13 December 2019.</ref>		By the 1990s, PIL had expanded to serve 83 countries and ports.<ref>“[https://www.pilship.com/en-our-history-and-milestones-pil-pacific-international-lines/82.html#content_2 Our Local Agents]”. ''Pacific International Lines.'' Accessed 23 December 2019.</ref> In 2018, Yun Chung officially handed over the chairmanship of PIL to his son, [[Teo Siong Seng\|Siong Seng]], while he went on to serve as Chairman Emeritus.<ref>Faulder, Dominic. “[https://asia.nikkei.com/Spotlight/Cover-Story/The-silver-tsunami-Ten-nonagenarians-who-shaped-Asia-in-2018 The 'silver tsunami': Ten nonagenarians who shaped Asia in 2018]”. ''Nikkei Asian Review.'' January 2, 2019. Accessed 13 December 2019.</ref>
			==Personal life==
			[[File:Teo Siong Seng and family.jpg\|thumb\|''Chang Yun Chung with three of his children. Photo from [https://www.forbes.com/sites/jonburgos/2019/08/28/singapores-richest-2019-at-101-the-worlds-oldest-billionaire-has-no-plans-to-slow-down/#3641b8391f70 Forbes].'']]

			===Wife & children===
			Yun Chung married his first wife, Madam Yap Hong, in 1941, the same year that he met her.<ref>Koh, Angela. “The days of refuge in Nanyang,” in ''Chang Yun Chung: Steering through the Storms'', 43-55''.'' Singapore: Focus Publishing Ltd., 2012.</ref> She passed away on 4 April 1990.<ref>“Untitled.” ''The Straits Times.'' April 4, 1990. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> He is said to have at least three wives and fourteen children, eight sons and six daughters.<ref>Lee, Bryan. “Singapore’s mystery millionaires.” ''The Straits Times.'' August 27, 2006. Accessed 12 December 2019. Retrieved from NewspaperSG. </ref> Most of his children work in PIL, although all of them had to start from the bottom and work their way up.<ref>Koh, Angela. “Moving to back bench,” in ''Chang Yun Chung: Steering through the Storms'', 161-173''.'' Singapore: Focus Publishing Ltd., 2012.</ref> His son, [[Teo Siong Seng]], is the current Executive Chairman of Pacific International Lines (PIL).

			===Health===
			When he was younger, Yun Chung woke up at 6 AM every morning and jogged daily at the Singapore Botanic Gardens.<ref>Indran, J. D. “[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/straitstimes19771225-1.2.42?ST=1&AT Our King of the Seas]”. ''The Straits Times.'' December 25, 1977. Accessed 11 December 2019.</ref> Although he had undergone spinal operations between the 1980s and the 1990s, he remained active in the day-to-day operations of PIL as the executive chairman at the time.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> In his advanced age, Yun Chung keeps active by playing golf twice a week. Yun Chung has never smoked, hardly drinks and does not go out at night.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref> His favourite food is a bowl of sweet potato porridge.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed 13 December 2019. Retrieved from NewspaperSG.</ref>

	==Charity work==		==Charity work==

Dayana Rizal: /* Early life */

2020-09-09T06:00:02Z

Early life

← Older revision		Revision as of 14:00, 9 September 2020
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	Chang Yun Chung (born 1918 - 2020) - also known as Teo Woon Tiong (张允中) - is the founder of Pacific International Lines (PIL), a shipping company based in Singapore.<ref> Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Before his passing in 2020, the Singapore Permanent Resident was formerly known as the oldest billionaire in the world.<ref>Leong, Grace. "[https://www.straitstimes.com/business/companies-markets/shipping-tycoon-teo-woon-tiong-dies-at-102 Shipping tycoon Teo Woon Tiong dies at 102]". ''The Straits Times''. September 9, 2020. Accessed on 9 September 2020.</ref><ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed December 13, 2019. Retrieved from NewspaperSG.</ref> He also holds Malaysian citizenship and honorary citizenship in three Chinese port cities - Shanghai, Dalian and Penglai, Shandong.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed December 13, 2019. Retrieved from NewspaperSG.</ref>		Chang Yun Chung (born 1918 - 2020) - also known as Teo Woon Tiong (张允中) - is the founder of Pacific International Lines (PIL), a shipping company based in Singapore.<ref> Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> Before his passing in 2020, the Singapore Permanent Resident was formerly known as the oldest billionaire in the world.<ref>Leong, Grace. "[https://www.straitstimes.com/business/companies-markets/shipping-tycoon-teo-woon-tiong-dies-at-102 Shipping tycoon Teo Woon Tiong dies at 102]". ''The Straits Times''. September 9, 2020. Accessed on 9 September 2020.</ref><ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed December 13, 2019. Retrieved from NewspaperSG.</ref> He also holds Malaysian citizenship and honorary citizenship in three Chinese port cities - Shanghai, Dalian and Penglai, Shandong.<ref>Oon, Clarissa. “Survivor of the high seas.” ''The Straits Times.'' October 31, 2011. Accessed December 13, 2019. Retrieved from NewspaperSG.</ref>
	==Early life==		==Early life==
	[[File:Chang Yun Chung 2017.jpg\|thumb\|''Chang Yun Chung is a shipping magnate based in Singapore ~~who is the oldest living billionaire in the world~~.'' ''Photo from [https://www.youtube.com/watch?v=l3_Z7DuYjhY YouTube].'']]		[[File:Chang Yun Chung 2017.jpg\|thumb\|''Chang Yun Chung was a shipping magnate based in Singapore.'' ''Photo from [https://www.youtube.com/watch?v=l3_Z7DuYjhY YouTube].'']]

	===Family===		===Family===
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	===Education===		===Education===
	Yun Chung enrolled in the Pu Xian Cheng Kinmen High School at 10 years old.<ref>Koh, Angela. “Childhood days in Kinmen,” in ''Chang Yun Chung: Steering through the Storms'', 31-41''.'' Singapore: Focus Publishing Ltd., 2012.</ref> When the Fujian Rebellion struck, he transferred to Xiamen Da Tong College.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref><ref>Benson, Emmanuel Abara. “[https://nairametrics.com/2018/11/30/the-worlds-oldest-billionaire-is-singaporean-chang-yun-chung/ Story of the World's Oldest Billionaire Will Inspire You a Lot]”. ''Nairametrics''. November 30, 2018. Accessed 12 December 2019. </ref><ref>Koh, Angela. “Childhood days in Kinmen,” in ''Chang Yun Chung: Steering through the Storms'', 31-41''.'' Singapore: Focus Publishing Ltd., 2012.</ref> Yun Chung’s father came to Singapore in 1935 while his mother, his five siblings and himself remained in Quemoy.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>		Yun Chung enrolled in the Pu Xian Cheng Kinmen High School at 10 years old.<ref>Koh, Angela. “Childhood days in Kinmen,” in ''Chang Yun Chung: Steering through the Storms'', 31-41''.'' Singapore: Focus Publishing Ltd., 2012.</ref> When the Fujian Rebellion struck, he transferred to Xiamen Da Tong College.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref><ref>Benson, Emmanuel Abara. “[https://nairametrics.com/2018/11/30/the-worlds-oldest-billionaire-is-singaporean-chang-yun-chung/ Story of the World's Oldest Billionaire Will Inspire You a Lot]”. ''Nairametrics''. November 30, 2018. Accessed 12 December 2019. </ref><ref>Koh, Angela. “Childhood days in Kinmen,” in ''Chang Yun Chung: Steering through the Storms'', 31-41''.'' Singapore: Focus Publishing Ltd., 2012.</ref> Yun Chung’s father came to Singapore in 1935 while his mother, his five siblings and himself remained in Quemoy.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>
	===~~World War II: Escape to Singapore & arrest in Malacca~~===		===Life during the Japanese Occupation===
	When Japan invaded China in 1937, Quemoy was the first island they occupied. Yun Chung was the first in his family to flee to Singapore. His mother and siblings followed suit about two months later.<ref>Chan, Paul. “[https://www.youtube.com/watch?v=l3_Z7DuYjhY #SecretsSelfMadeBillionaires 0067 Chang Yun Chung World's OldestSelfmadeBillionaire Age 99]”. ''YouTube''. April 15, 2017. Accessed 12 December 2019.</ref>		When Japan invaded China in 1937, Quemoy was the first island they occupied. Yun Chung was the first in his family to flee to Singapore. His mother and siblings followed suit about two months later.<ref>Chan, Paul. “[https://www.youtube.com/watch?v=l3_Z7DuYjhY #SecretsSelfMadeBillionaires 0067 Chang Yun Chung World's OldestSelfmadeBillionaire Age 99]”. ''YouTube''. April 15, 2017. Accessed 12 December 2019.</ref>

			==== Arrest in Malacca ====
	In 1940, Yun Chung moved to Malacca to do business with his maternal uncle.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> His uncle would bring produce from Sumatra while Yun Chung ran the business in Malacca. When the Japanese occupied Malacca in 1941, Yun Chung fled to a rubber estate seven miles away from Malacca.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> However, he was caught twice by the Japanese - once in 1942 and once in 1944 - for supplying food and medicine to the Anti-Japanese Army.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> When Yun Chung was arrested in 1944, he was kept in jail for a year until the Japanese surrender, when he was released.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> He was supposed to be hung or shot while in prison but was kept alive when his mother gave away her possessions to the head of the Kempeitai.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>		In 1940, Yun Chung moved to Malacca to do business with his maternal uncle.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> His uncle would bring produce from Sumatra while Yun Chung ran the business in Malacca. When the Japanese occupied Malacca in 1941, Yun Chung fled to a rubber estate seven miles away from Malacca.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> However, he was caught twice by the Japanese - once in 1942 and once in 1944 - for supplying food and medicine to the Anti-Japanese Army.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> When Yun Chung was arrested in 1944, he was kept in jail for a year until the Japanese surrender, when he was released.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref> He was supposed to be hung or shot while in prison but was kept alive when his mother gave away her possessions to the head of the Kempeitai.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>

			==== Return to Singapore ====
	When the war ended, Yun Chung returned to Singapore to find his father. It was then he realised that his father had been killed by the Japanese. His mother accompanied him back to Malacca where he continued to run the business with his uncle and learnt “a bit of shipping from there”.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>		When the war ended, Yun Chung returned to Singapore to find his father. It was then he realised that his father had been killed by the Japanese. His mother accompanied him back to Malacca where he continued to run the business with his uncle and learnt “a bit of shipping from there”.<ref>Chew, Melanie. “Chang Yun Chung,” in ''Leaders of Singapore,'' 251-256. Singapore : World Scientific Publishing Co. Pte. Ltd., 1996.</ref>

	==Personal life==		==Personal life==
	[[File:Teo Siong Seng and family.jpg\|thumb\|''Chang Yun Chung (seated) pictured with 3 of his children. Photo from [https://www.forbes.com/sites/jonburgos/2019/08/28/singapores-richest-2019-at-101-the-worlds-oldest-billionaire-has-no-plans-to-slow-down/#3641b8391f70 Forbes].'']]		[[File:Teo Siong Seng and family.jpg\|thumb\|''Chang Yun Chung (seated) pictured with 3 of his children. Photo from [https://www.forbes.com/sites/jonburgos/2019/08/28/singapores-richest-2019-at-101-the-worlds-oldest-billionaire-has-no-plans-to-slow-down/#3641b8391f70 Forbes].'']]