We had proposed royalty rates for our franchises in our IPO documentation. These royalties influenced our listing price. As a result, the Hong Kong Stock Exchange wanted us to confirm that they represented market rates.

We hired Siong Yoong and his team for this important assignment. We needed to raise this capital to grow our business.

Siong Yoong evaluated our trade name and trademarks. He then researched and identified comparable franchise agreements on a global basis.

The Hong Kong Stock Exchange accepted Siong Yoong’s fairness opinion. Siong Yoong and the team have been invaluable partners. I am happy to announce that we had a smooth and successful listing that raised HKD 46.5 million!