UPDATE from Danny on LGHI website/ hope to have news of funding this month, most on hold due to Covid nonsense
Dear Shareholders, September 2020
Another month has passed.
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Though the Covid situation has stabilized in Singapore, there are still many countries undergoing tremendous stress like India, Korea and even the US. We understand from Projagg Asia, our startup based out of Singapore, that 80% of the projects in their pipeline had decided to hold back due to lack of certainties in funding development projects.
However, there are several projects that may still have funders' interest, such as Solar Energy Plants, Gold Mining, Water Filtration Plant, mainly the essential services sector. In fact, Projag Asia is making positive strides in procuring funds for the 2 Funds LHGI had signed with Passion venture Capital, a MAS licensed Fund Manager. We hope there will be some good news of investment commitment this month.
In July, we announced the signing of 3 MOUs, namely AERO360, ENP1C Solar Plant and Passion VC. Though LHGI will only do acquisitions via share swaps, we will still be arranging with a Broker-dealer to explore the different instruments for LHGI to raise $2MM to $3MM. This is for the purpose of preparation to be SEC Full Reporting, upgrading to OTCQB next year and extending loans to our startups.
Just an update on what had been done so far:
AERO360 Solutions - a drone technology company
We had done our due diligence and find Aero a potential company LHGI can benefit from such an acquisition exercise. During this period, Aero had managed to grab a Government contract for their drone services. We should be concluding our discussion in September on how we can move forward.
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ENP1C - 60 MW Solar Plant (Philippines)
Projagg Green Fund is confident to raise US$15MM to fund the 60 MW Solar Plant project with an additional $35MM bank financing. LHGI has issue a LOI(Letter of Intent) to acquire up to 20% before commissioning. We will be appointing 3 directors to the Fund to actively invest and manage its portfolio. Needless to say, these funds will be invested in projects that are using the Projagg platform.
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PASSION Venture Capital - Singapore Licensed Fund Management Company
Apart from the Green Fund, we are also actively engaging Family Offices to invest in our Projagg REDV Fund. We will possibly be leveraging on a GBP100MM redevelopment project in London's prime Knightsbridge location, which is always in demand regardless of Covid. This will also be place on our Projagg Platform to give assurance to investors that the Use of Funds will not be subjected to abuse, misuse and misappropriation.
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PROJAGG - the Real Estate Development & Infrastructure Marketplace
With the stabilizing of the Covid situation in Singapore, we are confident Projagg can go "Live" with a handful of projects. Hopefully, it will start generating revenue this year. We are hopeful Projagg will become the "Amazon" of Real Estate Development one day.
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Apart from the above, LHGI had also began discussing with several other potential startups, including a BioTech company that produces a patented 100% water-based disinfectant that can stop bacteria, germs and viruses spread, including Covid-19. We also have a very interesting 18 year old "startup" that is awaiting FDA approval for a disruptive and revolutionary Medicine that can cure or improve the challenging Alzheimer Disease. We are also looking into collaborative efforts with a digital bank in Asia.
We know how slow all these processes can be before we can yield some decent results. And I thank you, as shareholders of the company, to continue to believe in us and the future of LHGI. Our vision to become a successful Unicorn Breeder remains clear.
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Wishing everyone good health and wealth.
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Thank you.
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Yours sincerely,
Danny Lim
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