Fintech
Raffles Announces Strategic Partnership with Red Oak Capital
Singapore, Singapore–(Newsfile Corp. – May 19, 2020) – Raffles Financial Group Limited (CSE: RICH) (FSE: 4VO) (“Raffles” or the “Company”) Raffles is pleased to announce that its wholly-owned subsidiary, Raffles Financial Pte. Ltd. (“Raffles Financial”) was appointed as Investment Advisor for Red Oak Multi-Asset Elite Strategy (“ROMA”), which seeks to consistently generate positive returns by investing in bonds, equities, forex and financial instruments on companies that are going public through IPO/RTO, and may have a daily mark-to-market value.
Raffles Financial’s role shall be to provide and offer financial advisory to supplement and align the overall direction of ROMA. The main objective is to achieve 12% per annum performance for ROMA. The usual 1% management fee and 20% management fee shall apply.
The target set for ROMA’s first tranche will be USD 100 million and anticipated to grow to USD 1 Billion within the next 18 months. ROMA will be distributed only to accredited investors mainly in Asia with focus on China.
Mr Martin Lim, Founder of Red Oak Capital Pte Ltd, remarked: “We are delighted to have Raffles Financial as the investment advisor and their counsel especially on investments with stable dividend payouts and accelerated growth potential.”
“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. We look forward to contributing to ROMA with Raffles Financial’s expertise and experience in identifying high growth investments.” said Dr Charlie In, Chairman of Raffles Financial.
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Raffles Financial is an exempt corporate finance advisory firm, registered with the Monetary Authority of Singapore, which provides public listing advisory and arrangement services. Raffles Financial serve as advisor for family trusts, family offices and investment funds.
Raffles Financial Group is listed on the Canadian Securities Exchange under the stock symbol (CSE: RICH) and the Frankfurt Stock Exchange under the stock symbol (FSE: 4VO)
Please visit www.rafflesfinancial.co for more information.
Monica Kwok
Corporate Affairs Officer
monica@rafflesfinancial.co
Further information about Raffles is available on www.SEDAR.com under Raffles’ profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain statements contained in this release may constitute “forward-looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in Canadian securities laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the anticipated partnerships with financial institutions worldwide and the growth potential through Province Representatives. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.