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Raffles Financial looking to leverage expertise to tap into large financial advice market in Asia-Pacific

Snapshot

The company is focused on corporate finance advisory, investments in and the arrangement of Initial Public Offerings (IPO), wealth and family office strategy counsel, investment governance and overseeing funds

Raffles Financial Group Limited -

Quick facts: Raffles Financial Group Limited

Price: 4.25 CAD

CSE:RICH
Market: CSE
Market Cap: $212.84 m
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  • Significant growth potential
  • Low operating expenditures required for rapid and extensive growth
  • Strong partnerships with financial institutions worldwide and experienced management

What Raffles Financial does:

Raffles Financial Group Limited (CSE:RICH) is a diversified financial services firm based in Singapore, which offers its services in the Asia Pacific region.

The company is particularly interested in corporate finance advisory, investments in and the arrangement of Initial Public Offerings (IPO), wealth and family office strategy counsel, investment governance and overseeing funds.

It comprises experienced entrepreneurs, lawyers, valuers, bankers, brokers, listed company directors, shareholders, and advisors, some of which have over 40 years of business experience around the world.

Its subsidiary Raffles Financial, an exempt corporate finance advisory firm registered with the Monetary Authority of Singapore, provides public listing advisory and arrangement services and serves as advisor for family trusts, family offices and investment funds.

On May 1, 2020, Raffles Financial Group started trading on the Canadian Securities Exchange, as well as on the Frankfurt Stock Exchange under the stock symbol FSE:4VO, following the completion of a reverse takeover of Raffles Financial Pte Ltd by mining company Explorex Resources which was unveiled in December 2019.

The completion followed a spin-out of Explorex's mineral assets plus C$500,000 in cash to Origen Resources Inc, which itself plans to go public on the Canadian Securities Exchange.

It then changed its name to Raffles Financial Group and there was a corporate headquarters move to the Cayman Islands from British Columbia. 

In connection with the reverse takeover, Raffles Financial, on April 29, completed a private placing for gross proceeds of C$20 million, selling 4 million shares at C$5 each.

How is it doing:

Since the new-look company emerged, it has certainly not been sitting on its hands.

On May 11, Raffles Financial, which is expanding its representation in 30 regions in Asia-Pacific, announced a strategic partnership with Bank of Montreal Private Bank Asia (BMO PBA) to help the latter identify new clients.

The Bank of Montreal's Hong Kong and Singapore branches provides ultra-high net worth individuals with investment advisory services, discretionary investment management and banking along with trust and family management solutions.

Raffles Financial will provide clients with a complete suite of investment and private banking solutions starting from public listing services to family trusts and portfolios

A few days later, on May 19, Raffles Financial said it had been hired as an investment advisor for Red Oak Capital's Red Oak Multi-Asset (ROMA) Elite Strategy fund.

The company will provide financial advice to supplement and align the overall direction of ROMA, which seeks to "consistently generate positive returns from investing in bonds, equities, forex and financial instruments on companies that are going public through an IPO/RTO and may have a daily mark-to-market value".

The aim is to achieve 12% per annum performance and the target for the first tranche will be US$100 million, which is anticipated to grow to US$1 billion within 18 months.

The fund will be distributed only to accredited investors mainly in Asia with focus on China, Raffles said.

Inflection points:

  • More deals
  • Financial results

What the boss says:

In the statement announcing the Red Oak Capital partnership,  the chairman of Raffles Financial, Dr Charlie In, said: "Red Oak Capital Investment Team achieved over 36% net annualized return in 2019 and we are honored to join this team of high-performance professionals."

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