Singapore, Singapore--(Newsfile Corp. - July 31, 2025) - Raffles Financial Group Limited (CSE: RICH) ("RFG' or the "Company") This is to give shareholders an update of the Company.
Change of Company Name of a Subsidiary - Raffles FinTech Limited
The Company's wholly-owned subsidiary, incorporated in Hong Kong, OakTree Financial Limited, has changed its name to Raffles FinTech Limited ("RFT") with approval from the Hong Kong Company Registry with effect from 1 July 2025. The change of company name is to reflect the business of the subsidiary.
RFT focus is to provide advisory and arrangement services for trade-finance facilities needed by fast-growing companies. RFT curates funding solutions to help clients fund procurement of products to fulfill sales orders and to monetize accounts receivable with factoring and bill discounting. The goal of RFT services is to help clients to take on larger sales orders and enjoy a positive cash flow position.
RFT currently has two major clients, one in stem-cell biotech and the other in medical facility construction, that have signed on 3-year advisory and arrangement services contracts. Clients are required to pay a one-time sign-on service fee to set up their supply chain financial system and also to pay a 2% monthly service fee based on the quantum of funds arranged.
The Company has also streamlined the Corporate Strategy Advisory business under RFT, as there is significant synergy in client servicing and cross-selling opportunities. RFT has signed up 4 clients to provide them with corporate strategy development and reorganisation services. Clients pay a monthly retainer and a success fee when they achieve certain agreed milestones, such as uplisting on a main stock exchange, security tokens listed on a recognized digital asset exchange or listed as a public company on a major bourse.
The RFT consulting team, headed by Chief Consulting Officer Prof Kevin Lou, has offices in Hong Kong, Shenzhen and Singapore. The team assists Dr Charlie In, lead strategist for the Corporate Strategy Advisory unit, in planning, designing, implementing and monitoring reorganisation works for clients.
The Sales and Purchase Agreement ("SPA") initially signed between Mr Xu Zhiyang and Raffles Financial Pte Ltd ("RFP") on 4 November 2022 (which had subsequently been novated by RFP to the Company on 31 July 2023) has been eventually novated and signed between Prof Kevin Lou and the Company on 2 July 2025. The Company has agreed to this novation as it is in the best interest of the Company for Prof Kevin Lou to deliver the specific performance as spelt out in the SPA. Prof Kevin Lou has demonstrated to the Company without doubt that he and his team is able to achieve the business and profit objectives of the SPA.
This is an announcement to keep shareholders updated on the activities of RFT and it is not a statement or forecast on the Company and RFT performance.
About Raffles Financial Group Limited (CSE: RICH) Raffles Financial Group is listed on the Canadian Securities Exchange Purchasable under the stock symbol (RICH:CN).
On behalf of the RFG Board of Directors
Monita Faris
Corporate Secretary
Phone: +1 604-283-6110
Email: monita@rafflesfinancial.co
Website: www.RafflesFinancial.co
The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the Canadian Securities Purchase nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Purchase) 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260879
SOURCE: Raffles Financial Group Limited
