Loyz En­ergy ties up with Arc­tos to di­ver­sify into PE, in­vest­ment

Mint Asia ST - - Inside - B Y TA NU PA NDEY

Amid

weak­ness and volatil­ity i n the en­ergy sec­tor glob­ally, Sin­ga­pore­grown oil and gas ex­plo­ration and pro­duc­tion com­pany Loyz En­ergy Ltd has pro­posed to di­ver­sify into fund man­age­ment, in­vest­ment and trad­ing in an at­tempt to re­duce its re­liance on the orig­i­nal busi­ness and in­crease rev­enue streams.

To en­ter into the in­vest­ment busi­ness, Loyz inked a deal with lo­cally head­quar­tered multi-as­set in­vestor Arc­tos In­vest­ments Pte. Ltd to form a new joint ven­ture com­pany called FIT Global Pte. Ltd that will be en­gaged in the fund man­age­ment busi­ness.

“The prin­ci­pal busi­ness of the JV (joint ven­ture) com­pany shall be in­vest­ment, in­clud­ing pri­vate equity deals, pre-ini­tial pub­lic of­fer­ings (ma­ture stage), ini­tial pub­lic of­fer­ings, fixed i ncome and hy­brid in­stru­ments, trad­ing of equities, com­modi­ties and other fi­nan­cial in­stru­ments, in­clud­ing cryp­tocur­ren­cies, fund man­age­ment and mar­ket mak­ing for com­modi­ties,” Loyz said in an an­nounce­ment on 8 Septem­ber.

The ven­ture will be co-man­aged by a team of ex­pe­ri­enced in­vest­ment pro­fes­sion­als led by Wong Yat Foo, an in­vest­ment vet­eran in the cap­i­tal mar­kets.

While Arc­tos In­vest­ments will as­sist the JV to get a fund man­age­ment li­cence, Loyz will seek ap­proval from its share­hold­ers for the busi­ness di­ver­si­fi­ca­tion pro­posal.

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