 The company's first year ended 31 March 1969 with a profit and after acquiring Bukit Sembawang Rubber Co. Lt.d of Britain.He served as Chairman till his death.Koon-Teck heard that Bukit Sembawang Rubber Estate had short-sold 500 acres to a syndicate for $3,000 an acre, the price the Admiralty and Air Force had paid the estate for much more land that was used for the Seletar Navy and Air bases.