Eu Tong Sen Street

Eu Tong Sen is one of the busiest streets in Singapore. A platform for locals, tourists and working professionals, it is interesting to visit at any day of the week. A walk down the street leaves an impression. Not surprisingly, it is very Chinese being located in Chinatown. Older generations of Singaporeans are typically seen there. Buildings of the past that have been preserved make this part of Singapore reminiscing of some buildings of Hongkong. This street remains a very important part of Singapore and is especially active during the Chinese Lunar New Year period.

The man - Eu Tong Sen
Eu Tong Sen street is no doubt a road name accredited to the great Eu Tong Sen who was a very influential business figure in the 1890s - 1930s. Eu Tong Sen was a powerful figure dealing in rubber, tin, banking, medicine. Today, what’s left are probably the donations that he made and his only business in medicine – Eu Yang Sang. One of the biggest reasons why this road was named after him was Eu Tong Sen’s large contribution to the rebuilding of the street which was previously called Wayang Street.

The most prominent evidence of his contributions was the The Majestic, area around People’s Park complex along Eu Tong Sen street. Originally called Tien Yien Moi Toi, The Majestic was build for Eu Tong Sen’s wife for the purpose of Cantonese operas. Through the years, it turned into a cinema before becoming into a shopping mall and eventually being put up for sale now. People’s Park Complex also used to be Chinese Opera theatres which Eu Tong Sen acquired and rebuilt. They were formerly known as Heng Seng Peng and Heng Wai Sun. Therefore, as one wanders down the street and sees all these buildings that were acquired and rebuilt by Eu Tong Sen, it is no wonder that his name is left as a legacy along the road.

Strengths of the Tycoon
Obviously Eu Tong Sen’s wealth was the main factor behind his contributions. How did he become rich? He wasn’t exactly born with a silver spoon as his father died and left him a medicine shop called Yan Sang. He expanded his father’s business and left a legacy in the Chinese medicine business in the form of Eu Yan Sang. Eu Tong Sen is someone who sees opportunity and is able to quickly exploit it. Besides that, he was also adaptable to changing conditions and was decisive in expanding or exiting his business.

Another key strength of his is diversity. For example, in the early 1900s, Eu Tong Sen realized there was a need to diversify out of the tin business as it was increasingly coming under government regulation, he transformed the medicine shops that his father left him and expanded the business regionally. Similarly, when the rubber business deteriorated, he shifted his focus to remittance at medicine shops which was an extension of his business at the Yan Sang medicine shops. This remittance business grew so big that it overshadowed the medicine business for some time. An opportunist, being adaptable and ability to diversify were the key traits of Eu Tong Sen. This explained why he was one of the richest tycoons in the region by the age of 30. These traits also typically exemplify Chinese tycoons of that era.