The growth of Singapore as a financial services and fund management hub supported by regional and global funds flow prompted the Group to tap on its business connections for strategic collaboration with established business partners to leverage on their expertise, experience and to work out win-win arrangements.
CWX Global seeks business diversification to cultivate multiple income streams to broaden its earnings base, balance risks and enhance growth for the Group.
CWX Global operates with its own team of professionals through its wholly-owned subsidiary, CWX Investments Pte Ltd (“CWX Investments”) as well as through FIT Global Pte Ltd (“FIT Global”), a strategic joint venture, to offer a holistic suite of investment and trading services which are accessible to institutional and accredited investors. Currently, it holds a 20% stake in three producing oil concessions in Thailand under its wholly-owned subsidiary, Loyz Oil Thailand Pte Ltd (“Loyz Oil”).
The Group is actively pursuing and executing potential opportunities to drive growth and returns to enhance values for investors and shareholders.
CWX Investments Pte Ltd (“CWX Investments”), a wholly-owned subsidiary of the Group, will focus on secured lending and investment.
The key areas of investment for CWX Investments include:
Loyz Oil Thailand Pte Ltd (“Loyz Oil”), a wholly-owned subsidiary of the Group holds a 20% participating interest in three producing concessions – SW1, L44/43, and L33/43 (the “Thailand onshore oil concessions”) located at Phetchabun Basin, which currently generates a steady income stream from its existing oil producing wells.
The production license for the SW1 concession was renewed for another 10 years from July 2016, while production licenses for L44/43 and L33/43 concessions will expire in 2032. Currently, there are thirteen production licenses covering an area of 124.7 square kilometres under these concessions.
The Group will continue to harness the potential of the Thailand onshore oil concessions which have proven reserves for production within the untapped concession areas. This asset holds substantial proven reserves for development as well as significant potential for further exploration, promising value enhancement and sustainable long-term growth.
FIT Global Pte Ltd (“FIT Global”), a strategic joint venture between the Group and Arctos Investment Pte Ltd, will focus on deal-making, investments and trading.
FIT Global is led by a well-connected investment veteran with a strong track record in investment banking, together with an experienced team of dealmakers and professional traders.