Wee Hur Holdings

[weijian]

This company is spreading its wings wide (although I would hope they would be more original with their alternative/private investment companies) and have shown some results. More importantly, they have also demonstrated their OPMI friendliness by sharing part of the proceeds. And together with the construction boom, this company could be a very interesting investment candidate for the medium term when it decides to do more asset recycling down the road.

MINUTES OF THE EIGHTEENTH ANNUAL GENERAL MEETING

• Managed 2 PBSA Funds with AUM of A$1.7 billion in Australia, with 6,071 beds spread across 8 assets in 5 major cities, involving both institutional and retail investors.
• Fund 1: Seven operational assets of 5,662 beds across five cities in Australia. Exited Majority Stake on 1 April 2025.
• Fund 2: One operational asset with 409 beds in Sydney, Australia, with completion in February 2025.
• Following the disposal of Fund I, the Group will continue to manage Fund II.
• On track to establish our 3rd Fund for our new PBSA development in Adelaide in 2025.

• KK39 Ventures is the alternative investment arm of Wee Hur Holdings which invests in venture capital, private equity and private credit globally.
• As at 31 December 2024, the Group has deployed a total of S$33.48 million, representing approximately 5.1% of the Group’s Net Asset Value (“NAV”).
• In addition, we expanded our allocation to private credit strategies and funds, leveraging elevated interest rate environments to capture significant opportunities.
• In 2024, the Group began exploring the private equity ecosystem, focusing on low to mid-market funds with specialist strategies in Asia-Pacific, laying the groundwork for potential investments from 2025 onwards and reflecting our commitment to a diversified and sustainable portfolio. To support this initiative, KKX Capital Pte. Ltd. was established in 2025.

https://links.sgx.com/FileOpen/WHHMinute...eID=846925

[weijian]

I once saw an interview with a person who services HNWIs. This person said that when you make some money in your life, you want to do 3 things - eat better food, take a nice vacation and send your kids to better schools.

I will be actively observing if Goh Junior is able to reduce the amount of GP capital he is targeting.

Wee Hur gears up for growth with bigger ambitions

Reflecting on Wee Hur’s first foray into student housing, Goh Wee Ping noted that the company had to contribute 60 per cent of the capital due to a lack of track record. Now, the group expects to reduce its capital commitment to 10 to 20 per cent, while attracting more institutional investors to co-invest alongside. However, he sees challenges in the Australian student housing market with more players entering the PBSA and co-living markets.

While Singapore property development was the largest revenue contributor in the first half of 2025, mainly from the Bartley Vue condominium which is expected to be completed by year-end, this contribution will taper off. “Next year, there is no more revenue pocket to be recognised so we need to look at a new pipeline,” said Goh Yeow Lian, Wee Hur has been actively tendering for land under the Government Land Sales (GLS) programme, but has yet to secure any. The older Goh highlighted that the market has now become more competitive, making it difficult to acquire land unless one is “very aggressive”.

Its Tuas View Dormitory, launched in 2014 as Singapore’s first purpose-built foreign worker accommodation, achieved an average occupancy rate of 93 per cent in 2024. For 2025, Goh Wee Ping expects occupancy and performance to remain steady or improve slightly. The group is also on track to complete its second dormitory, Pioneer Lodge, designed to house 10,500 workers. “We need to give it at least one year to stabilise and bring all the tenants so I see this is potentially going to be a huge contributor to the business, and this has quite a long runway,” the younger Goh added.

https://www.businesstimes.com.sg/compani...-ambitions