we have read that chef-owner Ang Song Kang, popularly known as Chef Kang, has had to file for bankruptcy after a failed business venture in China.
he invested in a Guangzhou motor and machine oil plant in 2005 with two Chinese nationals. He had known one of them for about three years.
his partners asked him to pump in more money as the recession had affected business. he did so for six months, until the plant supervisor called him one day that the workers have not been paid.
he flied to the plant and found out the factory was empty. his partners have ran off and he has to pay the worker three months' pay from his restaurant's account.
in the end, he has cashflow problems and has to close down.
all because he trusted his partners which led to his downfall.
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