He wants to go out while he's still winning races and his ego intact
ALI Group paid out over $9million in claims for heart attacks since 2003
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With approximately $860,000 on its balance sheet as of March 2019 and the prospect of receiving $2.7m-worth of various short-term commercial loan repayments within the next three to six months, financial and property services firm N1 Holdings is exploring a range of potential opportunities on which to deploy its resources.
Speaking to MPA, N1 Holdings executive chair and CEO Ren Hor Wong said his business, one of MPA’s Top 10 Independent Brokerages in 2017, used its balance sheet capital to commence short-term commercial lending in December 2017. And when they launched a separate lending fund last February, they were able to raise some capital to cater other lending needs.
While it has made no firm decision yet, N1 Holdings is undertaking due diligence on several prospective opportunities, including making strategic investments or acquisitions in synergistic or complementary businesses. Wong admitted that it would take some work and time to find good opportunities in the market.
“We are open-minded, the principle of our business is complementary and synergistic,” Wong said. “We believe the best customer service firm is the one that can offer what clients need, and not just doing what it’s good at.”
Knowing that they can’t be good at everything, Wong and his team are investing to get a stake of ownership in other businesses so they can better serve their clients.
“The ultimate aim is to be able to offer more of what our clients need,” Wong said. “I strongly believe providing more than one solution to clients is showing them loyalty.”
“As a business, we focus on servicing existing client needs, more than just acquiring new ones,” he added.
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