Residential, Retail &
Hotel Developer

  • Scalable business with replicable business model;
  • Strong financial and capital management;
  • Experienced in-house property development team;
  • Close cooperation with local councils and government;

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Our Divisions

Property development

Hotel development

Property Leasing

Our Competitive Strengths

Acquisition

Established presence and experience in acquiring, developing, selling and leasing properties

Disposition

Scalable business with replicable business model

Management

Experienced and stable management team

Valuation

Experienced in-house property development team

Consulting

Close cooperation with local councils and government

Financial

Strong financial and capital management

Our Projects

For Sale

Residential development

78 Albion Road, Box Hill 3128 There are three Townhouses under Construction of this project. The project is located at the prime location in Box Hill. Box Hill is a major hub in Melbourne’s eastern suburbs. Significant development is underway in the Box Hill CBD, with a 33-story skyscraper due to be completed in the coming years.

For Rent

Commercial Properties Leasing and Development

1) Brand new office site property. Leased. Rental income is about $48K/pa.
2) A two levels office property. It is leased to five tenants at the moment. Rental income is about $220k/pa.
3) The property comprises 7 shops. All of shops are leased. Total rental income is about $1.25m /pa.

For Rent

Hotel Development

1032 Dandenong Road, Carnegie Applying 9 level plus two level basement car park apartment hotel, Leasing Heads Agreement signed with an apartment hotel operator. A nine-storey 4½ stars apartment hotel with 49 rooms. The design has been completed and logged to council for approval. The hotel commerce at end of this year (2016).
After the construction, the annual rental income is about one million Australian dollars, which will increase year by year, and the rental return rate is about 8.2%.

Company Profile

The Company was incorporated in Victoria on 9 February 2015.It is a publicly listed company, having listed on the Australian Securities Exchange on 21 November 2016 (ASX code: FE8).
The Company’s business mainly comprises three areas:
(i) Property development, i.e. development of residential, commercial and apartment hotel properties for leasing or for sale
(ii) Hotel development, i.e. development of hotel properties for long-term leasing
(iii) Property leasing, i.e. the leasing of retail properties held for investment
The Company is selective in choosing the land location of its property development projects as it believes that future growth, government plans and amenities are the critical buying factors. To differentiate its properties, the Company places a high emphasis on the workmanship of its developments, incorporating proper landscaping, recreational facilities and infrastructure to create a desirable living environment to attract its target customers in Australia and overseas, with a focus on China.

The Company’s business model is to sell certain properties for immediate return of capital to fund its business, operations and expansion plans, while strategically retaining other properties for stable recurring rental income and long-term capital appreciation. This allows us to generate rental income in addition to the revenue generated from the sale of properties. Further, through retaining and leasing of our commercial and hotel developments as investment properties, we are able to introduce major tenants of strategic significance to our developments and to maintain a clear specific theme for our developments.
The Company believes this business model allows it to diversify its sources and timing of its revenue to more effectively manage its capital and funding structure. Going forward, the Company will continue to adopt this business model to balance short-term capital needs and long-term financial strength.

Key People

Board of directors and company secretary

The Board and senior management team have been selected for their relevant skills, expertise and experiences.
As at the Prospectus Date, the Board comprises:
• Frank Licciardello (Non-Executive Chairman);
• Norman Wu (Non-Executive Director);
• Barry Moshel (Non-Executive Director); and
• Weiping Chen (Non-Executive Director).
Wing Kee Cheng is the Company Secretary.

Frank Licciardello

  • Non-Executive Chairman
Frank Licciardello has extensive experience in the finance sector. He is an executive director and co-owner of Sanston, a boutique corporate advisory and investment banking firm in Melbourne, and several other private entities. He also serves as the chairman of Voltage IP Limited (ASX: VIP) and a director of Elk Orthobiologics Limited (ASX: ELK) and Antares Mining Limited (ASX: AWW). Previously, Frank has held many CFO and company secretary positions for both public and private organisations and between 2006 and 2011 was the Group Managing Director and CEO of a public company listed on the ASX. He graduated with a Bachelor of Business, with a major in Accounting and minor in Law from Victoria University of Technology. He is a Member of the Australian Institute of Company Directors and Australian Society of Certified Practising Accountants. The Board considers that Frank is not an independent director because of his association with Sanston.

Norman Wu

  • Non-Executive Director
Norman Wu is the son of Yong Chao Wu, the founder and Chief Executive Officer of the Company. Norman is currently completing his undergraduate studies in the Bachelor of Commerce at Melbourne University. Norman has been involved with the Company and the Wu family’s property business since its inception. He has been heavily involved in all aspects of the business. Norman is the only Director that is fluent in both Chinese and English. The Company considers this to be an important characteristic given the likelihood of the Company conducting some business activities in China (as well as to assist with communicating with Chinese-speaking Shareholders). The Board considers that Norman is not an independent director because of his association with Yong (who will be a substantial holder of Shares after allotment under the Offers).

Barry Moshel

  • Non-Executive Director
Barry Moshel is an experienced lawyer having practised in the law for more than 30 years. Barry's experience has included acting as in-house legal counsel for public companies after which he established a thriving private practice and consultancy specialising in commercial and property law and legal advice work. Barry holds a Bachelor of Laws from Melbourne University and Bachelor of Economics from Monash University. The Board considers that Barry is not an independent director because of his role as a legal service provider to the Group.

Wei Ping Chen

  • Non-Executive Director
Weiping Chen has a broad range of experience in real estate. He has over 15 years of experience in a range of industrial management and executive roles in the real estate industry, including general manager and managing directors at different real estate development and construction companies in China. Weiping Chen is now settled in Australia and continues to engage in property development and investment. The Board considers that Weiping Chen is the only independent director.

Senior management

The key senior management of the Company as at the Prospectus Date is as follows:
• Yong Chao Wu (Chief Executive Officer)
• Wing Kee Cheng (Financial Controller)

Yong Chao Wu

  • Chief Executive Officer
Yong Chao Wu is an entrepreneur with significant property development and investment experience. He is the founder of the Company. Yong has a bachelor degree from the Victorian University of Technology in computer science and has worked as a senior software engineer. In addition to running and owning a computer company for more than 15 years in Box Hill, Yong has also engaged in real estate investments and management in Australia for over 20 years.

Wing Kee Cheng

  • Financial Controller
Wing Kee Cheng has close to 20 years of experience working in the finance sector (including in wealth management, investment banking and compliance). He has previously held senior positions at Standard Chartered Bank, ABN AMRO, UBS and HSBC in Hong Kong, and has worked for the Hong Kong Exchange and Clearing Limited. Wing Kee graduated with a Masters of Applied Finance from the University of Melbourne and a Masters of Laws from the University of Hong Kong.

Key Consultants

Brett Diston

  • Real Estate Adviser
Brett Diston is the director of Ray White Commercial Vic-Nunawading. With a commercial real estate career spanning over 12 years, his expertise covers all areas of commercial sales, leasing and property management. His most recent achievements are:
• Winner - Commercial Salesperson of the Year | REIV Awards for Excellence 2015
• Winner - Commercial Salesperson of the Year | REIV Awards for Excellence 2014
• Winner - Commercial Salesperson of the Year | REIV Awards for Excellence 2013
• Winner - Commercial Property Manager of the Year | REIV Awards for Excellence 2011

Securities Trading

Click to download
The Company Securities are (or will be) listed on the ASX.
(b) This Policy outlines:
(i) when Staff may Deal in Company Securities;
(ii) the restrictions on Staff Dealing in Listed Securities of another entity when they are in possession of Inside Information about that entity’s Securities; and
(iii) the Company’s procedures aimed at reducing the risk of Insider Trading taking place.
(c) This Policy was approved and adopted by the Board on 12 May 2015.
(d) Capitalised terms used in this Policy have the meaning given in the Schedule.
Click to download

Corporate Governance

In accordance with the requirements of the Australian Securities Exchange ( ASX) and its listing rules ( ASX Listing Rules), the Company has considered the ASX’s Corporate Governance Council’s Corporate Governance Principles and Recommendations to determine an appropriate system of control and accountability to best fit its business and operations, and intends to follow these recommendations in a manner appropriate for its size and operations.


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