LH Paragon: No urgent need to go public now

Homegrown LH Paragon Group of Companies is staying open to the possibility of going public, saying they are ready to launch anytime if and when the need arises.

However, at this point, the holding company owned by the Lius prefers to cement their foothold in various industries and grow organically.

“At this point there is no intention...It is not yet an urgent need,” said Edmun Liu, chief finance officer of LH Paragon, adding that many people have approached them to enlist in the local bourse.

“Many investment bankers have actually approached us saying that with how our businesses have been set up right now, we can go public anytime. We are ready as far as financial reports, governance practices, corporate and board structure. Everything is set, but, what is holding us back is the question: What value would it give to the customer?” Liu explained.

He said they will not go public for the sake of just joining the bandwagon.

“If it would help customers because it opens up more doors, then by all means (we will),” he said. “We are market-driven, we will go where the market takes us.”

Liu, who is also president of Oakridge Realty Development Corp., said all business units under LH Paragon, while private companies, conduct themselves like listed companies, a direction his brother Bernie Liu, the group’s chairman, charted some 10 years ago.

“We will go public when, internally, the family is ready to relinquish our shares to the public. Second, if the organization is ready,” said Bernie Liu, chairman of LH Paragon Group, in previous interviews. “When we feel it is time to engage ourselves in a wider scope of things.”

The company also remains open to possibilities such as partnerships or buy-ins.

Oakridge Realty, for instance, is open to a partnership to both local and foreign investors, provided that each party offers good value to the customers. Last Friday, the company topped-off the second tower of Oakridge IT Center. The company has set aside P2 billion to finance a three-year expansion program until 2018. This covers the second and third towers of Oakridge IT Center and an atrium/retail hub.

LH Paragon’s core businesses are Golden ABC, Matimco Inc., Oakridge Realty, Basic Graphics, Greentree Food Solutions, and LH Prime.