Updated letter from Danny Lim,
Dear Shareholders,
In our Q2 2020, we are pleased to announced successive signing of MOUs with 3 potential companies to acquire and collaborate when the Covid situation had stabilized.
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These 3 companies are shortlisted from more than 2 dozens of companies after lengthy meetings, feasibility studies, market analysis, cross referencing and passed our Review Committee.
AERO360 Solutions
This profitable and dynamic drone technology company is leading its pack in Philippines with about 100 employees and a revenue turnover of US$3 Million. Its leading edge is the multiple applications that solves problems for Power Transmission, Agricultural Government departments, Mining companies and the media industries. If not for this Covid situation, they would have grown exponentially this year. We are hopeful we can acquire up to 20% of their company.
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ENP1C Solar Farm
We are proud to be involved in the Green Energy market as LHGI is gearing up to increase our stakes in this segment as we foresee the world turning to renewable energy as cost plummets and efficiency increases. LHGI will only acquire up to 20% once the Farm is commissioned; that is operationally ready and producing electricity.
These 2 ventures, if successful will add tremendous value to our Holdings company. We are also hopeful they will become a Unicorn in 3 to 5 years time.
PASSION Venture Capital
The tie up with Passion is inevitable. With so many ventures and projects to support, we can't be only relying on 3rd party funds or financing. So, collaborating with Passion to raise funds will help PROJAGG, AERO and ENP1C with the necessary funds to grow exponentially.
There will be 2 Funds, namely;
Projagg REDV Fund I
This will be a series of funds for feasible and attractive real estate development projects in Asia.
We are hopeful to raise US$30 million for this Fund that will only be focus on mini projects ranging from US$2 million to US$6 million. This is a fast turnover Fund that will be seeking 15% to 30% IRR.
Projagg Green Fund I
This is another series of Funds specifically to help Renewable Energy developers such as Solar, Wind, Hydro, Biomass, Waste-to-Energy plants in Asia. Apart from ENP1C, it will also support any Green Projects that are viable and attractive. We are hopeful to raise up to US$100 million that returns a decent 8% to 12% IRR.
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All these Funds will be using PROJAGG as a platform to invest in these projects. Projagg's Vaultchain Technology will ensure these funding will not be abused, misused and misappropriated by the developers. This will add to a constant stream of transaction revenue for Projagg.
With all these initiatives, LHGI will help all its Start-ups to leverage on each other's strength and user base to generate more stable income for each other. LHGI continues its vision to be a Unicorn Breeder. We will stay focus and be vigilant, we will definitely gain in value over the long term.
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I wish everyone well and safe during this period of hardship.
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Thank you.
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Yours sincerely,
Danny Lim
July 22, 2020
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