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Miguel Cordon · · 1 min readThe CEO of Singapore gaming chair maker Secretlab buys 2 properties worth $38m
“Ian Ang, the 28-year-old CEO and co-founder of Secretlab, a fast-growing Singapore-based manufacturer of gaming chairs, is sitting pretty on a company with a S$2 billion (nearly US$1.5 billion) valuation,” EdgeProp reported.
Details:
- With his fortune, Ang was able to purchase two luxury properties in the past seven days: a bungalow worth USS$26.8 million and a penthouse for US$11.2 million.
- The purchases were not impulsive buys and were made after a two-year search, said Stephen Ho, vice president of residential services at CBRE Singapore.
Context:
- Secretlab’s reported valuation would put it well above the US$1 billion threshold that the unicorn status commands.
- The development comes after the company’s operating profit climbed by nearly 4x to an estimated US$52 million in the financial year ending February 2021.
See also: Secretlab could be Singapore’s next billion-dollar company
Currency converted from SG dollar to US dollar: US$1 = S$1.34.
Editing by Collin Furtado and Jaclyn Tiu
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