Epicentre Holdings

[CY09]

The founders of the company greatly benefited from Epicentre's journey into a listed company

"The company's Apple business began in 2002 when four friends pooled S$500,000 to open a store at Wheelock Place". Based on the annual reports of their salary, 2 of the founders have earned multi million incomes throughout this journey. This is a good example of founders still earning a good pay, despite the difficult business condition.

https://www.hardwarezone.com.sg/tech-new...es-istudio

[specuvestor]

^^ so now it’s rich and wanted? 😶

https://www.straitstimes.com/business/co...ing-paused

^^ It's not about the environment... the business model is flawed where your supplier is your biggest competitor and the telcos are their channels. Plus no price flexibility. Probably the worst version of brick / motar vs internet model.

More info on Epicentre crowd-funding, from BT.

Epicentre first S'pore-listed firm to use p2p lending

...
The debt is backed by a corporate guarantee from Epicentre Holdings, which swung into a net loss for the first half of fiscal 2016. Corporate guarantees are not common as most peer-to-peer loans are backed by personal guarantees. The debt will be repaid through the sale of merchandise, according to a summary of the deal seen by The Business Times.

One tranche has an option for Epicentre to repay the debt earlier than 12 months, through what is known as a callable note.
...
Source: Business Times

Err what's corporate guarantee? Meaning IOU aka "Trust Me I'm an ACRA entity"? If the chairman gives personal guarantee at least it means something

And I guess crowdfunding officially died in Singapore. Probably works only for non profit social causes.

https://www.valuebuddies.com/thread-7235...#pid148377

[Behappyalways]

Epicentre to be delisted in 'due course' upon completion of EY's special audit
https://www.theedgesingapore.com/news/co...cial-audit

[ongweehiang]

I thought the special audit provide some good lessons.

Some learning from that brief read.

https://www.weightedresearch.com/p/the-epicentre