From a Whampoa minimart to Orchard Road: The rapid expansion of Hao Mart under Dr Tan Kim Yong
Once a materials specialist, Dr Tan Kim Yong opted for a completely different career path and opened convenience store Hao Mart in 2016.
Since then, however, the journey of Hao Mart has been a roller coaster ride, fuelled by expansion plans and legal troubles. We take a look back at the journey of Hao Mart founder Dr Tan Kim Yong.
1999: After spending six years as Chief R&D Officer of AGC Multi Material Singapore, Dr Tan Kim Yong founded Advanced Integrated Manufacturing Corporation (AIM). According to their website and LinkedIn page, the firm supplies “Nadcap and AS9100 accredited manufacturing services,” which are used in aerospace, defence, and high-tech industries.
May 26, 2005: As AIM expanded internationally, it became formally listed on the SGX Mainboard in 2005, with Dr Tan serving as Group Chairman and CEO and a substantial shareholder.
2016: In 2016, Dr Tan entered Singapore’s highly competitive grocery space, opening the first Hao Mart outlet in Whampoa. Established with the concept of a “super-mini-mart,” the outlet combines a convenience store concept with the product range of a supermarket.
May 2, 2017: AIM was delisted from SGX due to low trading liquidity, compliance costs, and other factors. Hao Corp—the parent company of Hao Mart—was listed as the offeror of the now-private entity.
2019: Hao Mart began accelerating its retail expansion into multiple formats. Amid the expansion, it filed its first financial statement for FY2019, with a loss of S$2.2 million.
Aug 8, 2019: Hao Megamart opened at The Grandstand. Spanning over 46,000 sq ft, it carried more than 70,000 products, including live seafood, a butchery, bakery, fresh produce, household goods, and branded electronics—positioning itself as a one-stop hypermart alternative to Giant and NTUC FairPrice.
Dec 20, 2019: Another retail format, “Eccellente by Hao Mart,” targeting a more premium, international grocery audience, was launched. Outlets opened in Marina Square, Westgate, and Kinex.
Nov 2021: Hao Mart hits its peak of 51 stores in Singapore. It also signed a 7.5-year lease with department store landlord OG for all five levels of the former OG Orchard Point building. The ambitious deal marked Hao Corp’s biggest expansion yet, bringing its grocery and F&B concept to the heart of the Orchard Road shopping belt.
Mar 2023: Hao Mart reported a loss of S$23.2 million for FY2023, after turning profitable for the previous two financial years.
Aug 4, 2023: OG entered a facility agreement with Dr Tan personally, extending a S$66.2 million loan to fund Taste Orchard’s opening at the former Orchard Point. The loan is secured by a mortgage over Dr Tan’s Good Class Bungalow at Jervois Hill, one of Singapore’s most prestigious neighbourhoods. By this time, the project’s opening had already been delayed by around six months from its original planned commencement in Feb.
Feb 2024: Taste Orchard opens, featuring three floors occupied by Eccellente by Hao Mart, offering a live seafood station, a butchery & deli counter, and an FYI Live Kitchen. Tenants on other floors include Sushiro, BHC Chicken, Killiney Kopitiam, and Warabimochi Kamakura.
Jan – Nov 2024: According to OG’s lawsuit, Hao Mart failed to pay rent at Taste Orchard from Jan to Nov 2024. The supermarket also allegedly sublets parts of the premises to other tenants without obtaining OG’s prior approval, which OG later claims constitutes a breach of the 7.5-year lease.
Dec 2024: Hao Mart stores dwindled to 20, according to its website.
Jul 2025: The cracks start to appear publicly. at the prime location, and Hao Mart themselves scale down operations at the building. The basement supermarket was shuttered, with products moved elsewhere in the building.
Aug 2025: Hao Mart sues PropNex Realty for alleged misrepresentation over the Taste Orchard lease. This kick-started a series of lawsuits.
Sept 2025: Landlord , demanding that tenants move out by the end of the year. The move comes just 18 months after Taste Orchard opened. No explanation is given for the lease termination.
Oct 2025: OG files a lawsuit against Hao Mart for S$6.6 million, including unpaid rent, taxes, and other charges. Hao Mart files a counterclaim, alleging that OG itself breached a separate oral agreement.
Dec 2025: Taste Orchard officially ceases operations, and the premises are returned to OG.
Jan 2026: Hao Mart, Dr Tan, and his wife sue OG for S$57.5 million in damages. They allege a conspiracy by OG to cause loss to Hao Mart by damaging or destroying their business. In the same period, Hao Mart reported a S$49.6 million loss for FY2025, with the financial statements filed belatedly in Jan 2026.
Apr 2026: Media reports indicate that Hao Mart has been reduced to just seven outlets amid ongoing legal disputes, as the company sinks deeper into losses.
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Featured Image Credit: Hao Mart/Facebook