Phua co-founded the live-streaming platform 17LIVE, which was listed on the Singapore Exchange (SGX:S68
) . It was later acquired by the spac firm Vertex Technology Acquisition Corp, marking Singapore’s only successful despac transaction.
In real estate investing, flipping fixer-upper houses promises quick returns, but it is fraught with risks and timing challenges, which may render it riskier than long-term investments. Despite challenges, investors such as Turn Capital founder Joseph Phua keenly recognise the potential of revitalising struggling businesses for profitability.
After years of starting businesses, the entrepreneur now helps companies improve their operations if they have enough resources. He says: “Over the last few years, we have been buying up assets across different themes, working with strong teams to turn cash flow positive and profitable quickly. Today, we have a controlling interest in six companies, all of which are profitable.”
