{"id":347365,"date":"2025-12-16T21:34:47","date_gmt":"2025-12-16T21:34:47","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/3rd-gen-owner-of-90-y-o-mooncake-biz-isnt-sure-itll-survive\/"},"modified":"2025-12-16T21:34:47","modified_gmt":"2025-12-16T21:34:47","slug":"3rd-gen-owner-of-90-y-o-mooncake-biz-isnt-sure-itll-survive","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=347365","title":{"rendered":"3rd-gen owner of 90+ Y\/O mooncake biz isn’t sure it’ll survive"},"content":{"rendered":"


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Traditional bakery Tai Chong Kok has been open in Singapore since 1935<\/strong><\/h2>\n

For nearly a century,\u00a0Tai Chong Kok<\/a><\/strong>\u00a0has been a fixture in Singapore\u2019s bakery scene, known for its handcrafted Cantonese pastries and traditional mooncakes. <\/p>\n

Opened in 1935, the bakery once drew long queues at its Chinatown stall on Sago Street, with eager customers lining up for its freshly baked goods.<\/p>\n

But behind the legacy lies a far tougher story: one of\u00a0family tensions, outdated practices, financial risks, and an F&B landscape that spares no one.<\/p>\n

Taking over the family business<\/strong><\/h3>\n
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Ham Weng Seng, the third-generation owner of Tai Chong Kok.\/ Image Credit: Tai Chong Kok<\/figcaption><\/figure>\n

Today, Tai Chong Kok is helmed by Ham Weng Seng, the third-generation owner of the business.<\/p>\n

But if you asked Weng Seng\u2019s older relatives, few would have guessed he\u2019d one day take over the family business.\u00a0It was founded by his grandfather, Tham Kai Chee, and after his passing, control of the bakery fell to his four sons.<\/p>\n

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Tai Chong Kok\u2019s Chinatown outlet at Sago Street.\/ Image Credit: Tai Chong Kok<\/figcaption><\/figure>\n

Growing up, Weng Seng didn\u2019t know much about the business. \u201cMy dad was just one of the directors. My mom is not involved in the business. So they never talked about business at home. There were other brothers and sisters that were involved in the business back then,\u201d he shared.<\/p>\n

He did eventually end up helping out in the business, though. After completing his national service, Weng Seng\u2019s father roped him in, assigning him to sell cakes and pastries, handle general duties, and even make deliveries. <\/p>\n

\u201cSince you carry the same surname, you are expected to do everything,\u201d he recalled. There was no special treatment, just long hours and minimal pay.<\/p>\n

After working within the family business for 12 years, Weng Seng decided to step away and venture into other passions, including running two music shops as well as art galleries in Singapore and China.<\/p>\n

But after learning that one of his uncles had planned to sell his share in the business, Weng Seng decided to seize the opportunity and become the de facto owner of Tai Chong Kok. <\/p>\n

At the time, his uncles were\u00a0pessimistic about the business\u2019s future, seeing risks and challenges at every turn. \u201cTo my uncles, the cup [was] half empty. To me, it [was] half full. Difference in perception, I guess.\u201d<\/p>\n

\u201cChange is difficult\u201d<\/strong><\/h3>\n
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Image Credit: Tai Chong Kok<\/figcaption><\/figure>\n

To buy out his uncle\u2019s shares, Weng Seng\u00a0re-mortgaged his house, taking on significant personal risk. His vision was ambitious:\u00a0modernise and elevate Tai Chong Kok while preserving its traditions. But achieving that was far from easy, as he faced pushback from his family. <\/p>\n

\u201cThe previous generations have been doing things their way for decades. Change is difficult\u2014no one wants to entertain new thoughts and new ways of doing things,\u201d he shared. <\/p>\n

\u201cAll the partners must sleep on the same bed and have the same dream. It\u2019s difficult to run a business otherwise.\u201d While he didn\u2019t go into detail, this tension was part of why he had to\u00a0buy out his uncle\u2019s shares\u00a0to take control.<\/p>\n

On top of this, taking over came with\u00a0massive costs, from meeting compliance requirements to setting up a central kitchen to scale operations. There was no \u201cproper accounting,\u201d licenses, or employment passes. Weng Seng had to establish SOPs from scratch. <\/p>\n

Industrial kitchen equipment is also very expensive. He shared that a rotary oven could cost around S$50,000. \u201cNo one will lend you one to try out. Obviously, my competitors will not share with me the type of equipment that they are using. So, no trial and error.\u201d<\/p>\n

\u201cIf I misread the market, I would lose the shirt off my back. I can lose the shirt off my back, but not my children,\u201d he added, underscoring the stakes of taking over a decades-old business.<\/p>\n

Growth has stalled<\/strong><\/h3>\n

Weng Seng\u2019s efforts paid off. By 2023,\u00a0Tai Chong Kok had nine outlets, all featuring modern store fronts designed to appeal to today\u2019s consumers. <\/p>\n

\u201cSingaporeans are well-travelled these days,\u201d he noted. \u201cBeautiful shopping malls and stores in Bangkok, Hong Kong, Seoul, Tokyo, and Shanghai set expectations. If my stores aren\u2019t attractive, no one will go in.\u201d<\/p>\n

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(Left): Tai Chong Kok\u2019s outlet at Waterway Point; (Right): Tai Chong Kok\u2019s outlet at Sago Street<\/figcaption><\/figure>\n

However, much of the growth has stalled since then. Singapore\u2019s F&B market is\u00a0\u201cultra-competitive,\u201d and the pandemic took much of the wind out of its sails.<\/p>\n

\u201cWe\u2019ve yet to recover our losses, and then everything went up. Rents, utilities, payroll, logistics, and compliance costs went up significantly. I think that it derails every business\u2019s plan by five years here.\u201d<\/p>\n

On top of that, global uncertainties like supply chain disruptions, wars, and the US tariffs continue to put pressure on operations. As such, Tai Chong Kok\u2019s focus right now is on\u00a0rebuilding finances\u00a0before considering any further expansion, especially as competition in Singapore\u2019s F&B scene continues to intensify.<\/p>\n

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The only people selling mooncakes back in the days were the bakeries in Chinatown. Nowadays we have restaurants, cafes, airlines, newspaper companies, hoteliers, ice-cream sellers and durian sellers selling mooncakes.\u00a0<\/p>\n<\/blockquote>\n

The \u201chard truth\u201d<\/strong><\/h3>\n

When asked about the future of Tai Chong Kok, Weng Seng remained\u00a0realistically bleak, acknowledging the uncertainties and challenges that lie ahead.<\/p>\n

\u201cEveryone thinks F&B is an easy business. I don\u2019t know where they got that misconception from,\u201d he said. \u201cJust look at the companies listed on the SGX and their bottom lines\u2014how many of them are actually in F&B?\u201d<\/p>\n

Running a bakery, he explained, is\u00a0capital-intensive, labour-intensive, and difficult to scale. It\u2019s not a viable business model if the \u201cboss has to be physically present every day.\u201d <\/p>\n

Hiring is another challenge: few people want to work for an SME in today\u2019s market, and as such, planning a succession for the company has proven to be extremely difficult. <\/p>\n

Weng Seng shared that it requires someone with both\u00a0domain knowledge of the F&B industry and hands-on experience within Tai Chong Kok. Even with the right person, not everything will go according to plan, and navigating the future of a family business is rarely straightforward.<\/p>\n

That\u2019s why Weng Seng is blunt about the future:\u00a0\u201cThe company might not be around in 20 years\u2019 time. That\u2019s the hard truth.\u201d<\/p>\n

Featured Image Credit: American Express\/ Tai Chong Kok<\/em><\/p>\n<\/p><\/div>\n