Remittance Business
Eu Yan Sang shops in Gopeng and Kampar extended to providing remittance services, allowing Chinese miners and plantation workers to send their earnings home. As the remittance and medicines businesses expanded, branches were set up in Penang, Ipoh, Kuala Lumpur, Hong Kong and Singapore. In 1909, Eu established a branch in the Sheung Wan district of Hong Kong. As his branches increased and his business spread out geographically, his potential market grew accordingly.
In 1914, he expanded the remittance business to reach throughout Malaya as well as the Dutch East Indies, Hong Kong, and southern China. In the 1920s when the rubber business in Malaya deteriorated, Eu shifted his focus to the remittance business in Hong Kong.
Read more about this topic: Eu Tong Sen
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