Liquidated Examples

Examples of liquidated Legacy investments
  • Project Galvatech
    Liquidated Example 1
    In October 2005, our PE fund did a bridge financing of $16 million in a listed galvanized steel company in Jiangsu that was fast building up its production capacity to meet surging market demand for its products especially in the property development market. The company redeemed this transaction for $22 million in May 2006.
  • Project Steel
    Liquidated Example 2
    In December 2005, our PE fund invested $6 million in a newly setup steel manufacturing plant that was geared up to manufacture thin gauge galvanized steel for the automotive and consumer electronic industries. The company subsequently switched from its initial listing plans and opted to be acquired by a larger listco. Our stake was valued at S$34 million based on the acquisition price in November 2007.
  • Project Shield
    Liquidated Example 3
    Our PE fund invested into a large synthetic textile manufacturer in PRC. The company has ambitious plans to be the biggest manufacturer of this high-growth market after its listing. The stock market shared our optimism about the strong fundamentals and growth of this company and we exited with an annualised gain of 210%.
  • Project Electro
    Liquidated Example 4
    In March 2006, we structured an offshore convertible loan program for a fast-growing industrial equipment company in PRC for $11 million. The company managed to utilize its proceeds to generate very good cashflows and the loan was repaid early in 2007 with the fund registering a gain of 160% p.a.
  • Project Auto
    Liquidated Example 5
    In April 2006, we led a consortium to invest $7 million into an automotive part manufacturer based in Shandong, PRC. The company was successfully listed on the SGX and we received $20 million proceeds upon liquidation.
  • Project Porsche
    Liquidated Example 6
    In February 2007, we invested $6 million into a fast-growing offshore oil and gas equipment maker and led the company to a much-talked about successful listing. The fund registered a gain in excess of 400% based on its average trading price.