Investors Prospectus
CONTENT
03
Inves tment In fo
06
Co m pan y In fo
20
The 4th I ndu s tri al Revo l u ti o n
26
S o c i al O ffi c e By CO3
34
The B enefi ts O f S o c i al O ffi c e
37
CO 3 Targ et M arket
45
I n s i d e CO 3 S oci al O f f i ce
64
M a rket Fo rce
70
Fi nanci al Info
78
R i s k Fa c to rs
RISK FACTORS
Overall I nves ti ng i n o u r S ha re s i nvo l ve s h i g h d egre e of ris k , potent i al inve s to r s hou l d c o ns i d er c a ref ul l y the ri s k s a nd u ncer ta i nt i e s d esc ribe d bel ow, tog et her wit h all t he ot her i n fo rm a ti o n i n t h i s p ro s p e c t u s , i ncl u d i ng t he financ i al p roj e c t i o n and t he rel a te d note s i ncl u d e d el sew here i n t h i s p ro s p e c t u s , befo re d e c i d ing whet her to inve s t in ou r s hare s . Yo u s ho u l d a l so note t ha t cer ta i n s ta tem ent set fo r t h bel ow c o ns t it u te “fo r ward - l oo k ing s ta tem ents � , w h i ch i n t hemsel ve s i nvo l ve a d d it i o nal ris k s and u nc er taint i e s . The ris k and unc er ta i nti e s d e scri b e d b el ow a re not t he o nly o ne s we fa c e. Ad d i ti o na l ri s k s a nd u ncer ta i nt i e s t ha t we are u naware of, o r t ha t we c u rrent ly beli eve a re not m a teri a l , ma y a l so b e co me i m po r tant fa c to rs t ha t a d versely affe c t ou r bu s ine s s If a n y of the fo l l ow i ng ri s k s o ccu rs , o u r bu s ine s s , financ i al c o nd it i o n , re s u lt s of o pera t i o ns , a nd p ro s p ec t s co u l d b e ma teri a l l y a nd a dversely affe c te d . In s u ch c irc u m s tanc e s , t he m a rket p ri c e of o u r S ha re s co u l d d e cl i ne, and you c ou l d l o se par t o r all you r inve s t m ent.
Risk Relating to Our Business We h a ve i n te n se c o m pe ti ti o n M a n y of ou r co m p et i to rs a re e s ta b l i s he d in t he C o-Wo rk ing S pa c e ind u s t ry and so m e of ou r c o m p etito rs ma y ha ve s u b s ta nt i a l l y gre a ter financ i al and m arket ing re sou rc e s tha n u s . There ca n a l so b e no a s s u ra nc e t ha t new c o m pet ito rs , so m e of whi ch m ay have g re a ter b ra nd re co g n i t i o n a nd fi na nci al re sou rc e s t han u s , will not c o m pete wit h u s . The entr y of new co m p et i to rs i nto o u r i nd u s t ry o r into t he im m e d i a te are a s s u rrou nd ing ou r exi s ti ng reta i l o u t l et s co u l d a d versel y affe c t ou r o pera t ing re s u lt s . We a re s u b j e c t to c h an g e s i n m e m b e r p refe re n c e s o r s p e n din g be h a vi o u r s O ur c o nti nu e d g row t h a nd s u cce s s d ep end , in par t, o n t he eng a g em ent and enter ta i n m ent of offi ce s p a ce. S h i ft s i n m em ber p referenc e s away fro m ou r eng a g em ent p ro g ra mme to ot her k i nds of offi c e s pa c e c ou l d m a teri ally affe c t ou r b u s i ne s s . We a re s u b j e c t to c h an g e s i n g ove r n m e n ta l re gu l a ti o n s O ur g row th a nd s u cce s s d ep end , i n p ar t, o n t he innova t ive eng a g em ent p rogram m e we d e s i g n a nd i nt ro d u ce i n o u r so ci a l offi c e, whi ch c u rrent ly d o not experi enc e s pe c ifi c g overn m ent re g u l a t i o n . I n t he event w here g overnm ent inter vene by int rod u c ing new re g u l a ti o n , o r i nter fere i n a n y ot her way, m ay m a teri ally affe c t ou r bu s ine s s . We m a y b e affe c te d b y an y i n c re a se i n re n ta l o r th e fa ilu re to p roc u re th e re n ewa l of o ur l e a se s We l e a se a ll of o u r p remi se s fro m t h i rd par t i e s . Rental c o s t s fo rm a s i gnifi c ant c o m po nent of ou r tota l co s t s . O u r tota l co s t s a re t herefo re sens it ive to any inc re a se in rentals whi ch m a y ero d e o u r p rofi t ma rg i n a nd henc e ou r e arning s . I n a d d i ti o n , u p o n ex p i r y of o u r ex i s t i ng l e a se s , t he l and l o rds have t he ri ght to revi ew a nd cha ng e t he terms a nd co nd i t i o n s of t he l e a se a gre em ent s . We t herefo re fa c e the p o s s i b i l i t y of not b ei ng a b l e to renew t he l e a se s o n term s and c o ndit i o ns whi ch a re fa vo ra b l e to u s . The no n - renewa l of t he se l e a se s o r renewal u po n l e s s favo ra b l e term s m a y ha ve a ma teri a l a d verse effe c t o n ou r o pera t i o ns and p rofita b ilit y.
We m a y b e affe c te d b y an y c h an g e i n te n a n t mix a n d p oo r m a in te n a n c e of th e b ui l d i ng s i n w h i c h o u r o pe ra ti n g offi c e a re l oc a te d A n y cha ng e i n t he tena nt mi x o r a cha ng e in ancho r tenant of a bu il d ing s in whi ch ou r o p era ti ng offi ce a re l o ca te d ma y re s u lt in fewer m em ber l e a se wit h ou r offi c e. Ad d i ti o na l l y , p o o r ma i ntena nce of t he bu il ding s m ay also re s u lt in l e s s pa t ro na g e and th i s m a y a f fe c t o u r b u s i ne s s . We m a y no t b e a b l e to se c u re g o o d l o c a ti o n s fo r fu r th e r ex p a n si o n O ur b u s i nes s mo d el s i s to a l a rg e ex tent d epend ent o n ou r a b ilit y to p roc u re a d d it i o nal s tra te g i c l o ca t i o n s fo r o u r o p era t i ng of fi c e. There is no a s s u ranc e t ha t we will be a b l e to c o nti nu e to se cu re g o o d l o ca t i o n s to expand ou r bu s ine s s , and t his will lim it ou r growt h . O ur b u s i ne s s m a y b e a d ve r se l y affe c ted if o u r c o m p e tito r s su c c e s sfu ll y imita te o u r b a k i ng a n d p re se n ta ti o n m e th o d s We c o n s i d er o u r u n i q u e offi ce fe a t u re s , inclu d ing ou r m em ber eng a g em ent p rogram and the d e s i g n of t he i nteri o r of o u r o p era t ing offi c e, and t he fa c ilit i e s p rovi d e d to ou r m em b er i n o u r o p era t i ng offi ce, to b e e s sent i al to t he a p pe al of ou r ser vi c e and b rand. I t m a y b e d iffi cu l t fo r u s to p revent co m pet ito rs fro m s u c c e s s fu lly im ita t ing t he d e s i gn of ou r o p era ti ng offi ce, memb er ma na g em ent m et hod , and t he fa c ilit i e s p rovi d e d. If ou r c o m p eti to rs s u cce s s fu l l y i mi ta te o u r u ni q u e offi c e fe a t u re, t he valu e of t he ou r b rand m a y b e d i m i n i s he d a nd o u r b u s i ne s s may a d versely affe c te d. Fu r t herm o re, ou r c o m p eti to rs ma y b e a b l e to d evel o p o pera t ing offi c e fe a t u re s m o re a p pe aling to tenant s o r m em b er. I f a n y of t he a b ove event s oc c u r, ou r bu s ine s s m ay be a d versely affe c te d . U na u tho rize d u se of o u r t ra d ema rk s a nd b rand m ay d am a g e ou r b rand , re c ognit i o n and rep u ta ti o n of o u r C o m p a n y . I n cer ta i n j u risdi c t i o ns whi ch d o not have cl e ar l aws p rote c ti ng i ntel l e c t u a l p ro p er t y ri g ht s , we m ay fa c e c o ns i d era b l e d iffi c u lt i e s and c o s t ly l i ti g a ti o n i n o rd er to en fo rce o u r i ntel l ec t u al p ro per t y ri ght s . In t he event t ha t we fa c e s u ch d i f f i c u l t i e s o r a re u na b l e to re g i s ter ou r t ra d em ark s , ou r p rofita b ilit y m ay be a f fe c te d . We m a y b e affe c te d b y c o m p l ai n ts f ro m m e mbe r s a n d n e g a ti ve p u b li c it y We m a y, fro m t i me to t i me, b e t he s u b j e c t of c o m p l aint s fro m c u s to m ers wit h re g ard to fa c i l i ti es q u a l i t y a nd o p era t i o na l i neffi c i enc y. O u r bu s ine s s m ay also be a dversely a f fe c te d b y ne g a t i ve p u b l i ci t y re s u l t ing fro m t he pu b li c a t i o n of ind u s t ry find ing s o r hea l th c o nc ern s co ncern i ng t he fa ci l i t i e s t ha t we offer. S u ch ne g a t ive pu b li c it y, re g a rd l e s s of t hei r va l i d i t y , ma y re d u ce t he nu m ber of ou r m em ber and henc e a d versely a f fe c t o u r tu rnover a nd p rofi t s .
We m a y no t be a b l e to m ai n tai n th e q u a lit y of o u r m e mbe r m a n a g e m e n t du e to a s h o r ta g e of trai n e d s taff It i s e s senti a l i n t he co - wo rk i ng i nd u s t r y t he m em ber p roa c t ively eng a g e and s u p po r te d. Fa i l i ng to d el i ver s u ch , wo u l d re s u l t i n m em ber' d is sa t is fa c t i o n and henc e a re du c t i o n in the nu m b er of memb er. The` q u a l i t y of ou r m em ber m ana g em ent m ay be affe c te d by a cha ng e o r s ho r ta g e of s ta ff o r t he l a ck of p ro per m o nito ring by ou r o pera t i o ns te am . A ny fa i l ure to re cru i t s k i l l e d p erso n nel a nd to retain ke y s taff m ay a d versely im pa c t ou r o p era ti o n s and ex p a n s i o n p l a n s . I n a d d it i o n , any m a teri al inc re a se s in em p l oye e t u rnover ra tes i n o u r o p era t i ng offi ce co u l d ha ve a m a teri al a d verse effe c t o n ou r bu s ine s s o p era ti o n s , a nd o p era t i ng re s u l t s . Fu r t herm o re, inc re a se d c o m pet it i o n fo r q u alifi e d em p l o yees m a y ca u se u s to p a y h i g her wa g e s to a t t ra c t and retain s u ffi c i ent em p l oye e s , w h i ch c o u l d re s u l t i n h i g her s ta ff co s t s a nd l ower p rofit s . We m a y no t be a b l e to s u c c e s s fu l l y i m p l e m e n t o u r J o in t-Ve n tu re b u sin e s s m od e l We ha ve o n l y re cent l y b e g u n to i m p l ement ou r j o int vent u re bu s ine s s m od el and t herefo re th i s m od el ha s not b e en te s te d fu l l y . The re s u lt s of ou r j o int vent u re bu s ine s s m od el is d ep end ent o n a mo ng s t ot her fa c to rs , t he q u alit y of ou r bu s ine s s par t ners , t heir a b ilit y to m a i nta i n the q u a l i t y of o u r p ro d u c t s , t heir financ i al s t rengt h and t heir a b ilit y to penet ra te new m a rkets . I n t he event t ha t o u r b u s i ne s s par t ners d o not fo ll ow ou r j o int vent u re p rog ra m o r a re u na b l e to ma i nta i n t he q u alit y of t he ser vi c e to m em ber, ou r b rand m ay b e a f fec te d a nd we ma y not b e a b l e to penet ra te into t ho se m arket s and t his m ay a d versel y a f fe c t o u r fu t u re g row t h a nd p rofita b ilit y. We m a y b e a ffe c te d b y th e e c o n o m i c , soc i a l a n d p o liti c a l situ a ti o n s in o th e r c o u n tr i e s w h e re we m a y l o c a te o u r ove r se a s re tail o u tl e ts We i ntend to co mmence o p era t i o n s i n mu lt ip l e c ou nt ri e s in AS E A N . We have p l ans to j o int ventu re ou r b u s i ne s s co ncept to cer tain ot her c ou nt ri e s in AS E A N fro m 2 018 . If we a d o pt the j o i nt vent u re b u s i ne s s mo d el , o r ex pand overse a s , ou r bu s ine s s m ay be m a teri ally and a d versel y a f fe c te d b y d evel o p ment s w it h re s pe c t to infl a t i o n , intere s t ra te s , g overnm ent p o l i c i e s , p ri c e a nd wa g e co nt ro l s , ex chang e c o nt ro l re gu l a t i o ns , taxa t i o n , exp ro p ri a t i o n , so c i a l i n s ta b i l i t y a nd ot her p o l i t i ca l , e co no m i c o r dip l o m a t i c d evel o pm ent s in o r affe c t ing the c o u ntri e s i n w h i ch we i ntend to o p era te. We have no c o nt ro l over s u ch c o nd it i o ns and d evel o p m ent s a nd ca n p rov i d e no a s s u ranc e t ha t s u ch c o ndit i o ns and d evel o pm ent s will not a d versel y a ffe c t o u r o p era t i o n s .
We a re d e p e n d e n t o n o u r s u p p l i e r s an d ve n d o r s There c a n b e no a s s u ra nce t ha t o u r s u p p li ers o r vend o rs will be a b l e to c o nt inu e to fu lfil o u r need s a nd ex p e c ta t i o n s i n terms of c o s t and p rod u c t q u alit y. In t he event t ha t ou r s u p p l i ers o r vend o rs a re u na b l e to fu l fi l ou r re q u irem ent s o r c e a se to s u p p ly t he p rod u c t s o r ser v i c e s to u s , we ma y i ncu ` r t i me a nd hi gher c o s t s in sou rc ing fro m new s u p p li ers o r vend o rs , w h i ch co u l d re s u l t i n d i s ru pt i o n s to ou r bu s ine s s , and ou r p rofita b ilit y m ay be a d versel y a f fe c te d . The p ri c es of t he p ro d u c t s a nd ser v i ce t ha t we u se m ay be s u bj e c t to p ri c e flu c t u a t i o ns d u e to va ri ou s fa c to rs b e yo nd o u r co nt ro l , inclu d ing severe clim a t i c c o nd it i o ns and g overn m enta l re g u l a t i o n s , w h i ch mi g ht re d u c e s u p p ly, l e a ding to inc re a se s in s u p p ly c o s t s . Shou l d there b e a n y s i g n i fi ca nt fl u c t u a ti o ns in ou r raw m a teri al p ri c e s , ou r o pera t ing res u l ts m a y b e severel y a ffe c te d . We m a y no t be a b l e to m an a g e o u r g rowth effe c ti ve l y We i ntend to ex p a nd l o ca l l y a nd to ex pand overse a s t hrou gh dire c t inve s t m ent s , o r j o int ventu res . We ma y not b e e q u i p p e d to s u c c e s s fu lly m ana g e any fu t u re expans i o n , whi ch c ou l d p l a c e a s i g n i fi ca nt s t ra i n o n o u r m ana g em ent, o pera t ing , financ i al and ot her reso u rc e s . We ma y re q u i re i m p l ementa t i o n of a d d it i o nal m ana g em ent info rm a t i o n sys tem s to f u r ther d evel o p o u r o p era t i ng , a d minis t ra t ive, financ i al and a c c ou nt ing sys tem s and c o ntro l s , a nd to ma i nta i n cl o se co o rd i na t i o n am o ng a c c ou nt ing , financ e, m arket ing , sal e s , d i s tri b u ti o n a nd o p era t i o n s . M o re over, we m ay ne e d to hire and t rain a d d it i o nal perso nnel . O u r fa i l ure to d evel o p a nd ma i nta i n t he infra s t ru c t u re ne c e s sary to ru n ou r o pera t i o ns c ou l d m a teri a l l y ha rm o u r b u s i ne s s . Fur therm o re, t here i s no a s s u ra nce t ha t ou r overse a s expans i o n p l ans will wo rk a c c o rding to p l a n a nd ex p e c ta t i o n s . We ma y not be a b l e to a t t ra c t s u ita b l e j o int vent u re par t ners . The l o s s of a n y j o i nt vent u re p a r t ners w ill re s u lt in a d e c re a se in ou r revenu e s . The term i na ti o n of a n y p rofi ta b l e j o i nt vent u re par t ners hip m ay also affe c t ou r p rofita b ilit y. We re l y h e a vi l y o n o u r se n i o r m an a g e m e n t te a m a n d th e in a b ilit y to re ta in o r a ttra c t se ni o r s ta f f w i l l a d ve r se l y affe c t o u r pe r fo r m a n c e We a re h i g h l y d ep end ent o n o u r sen i o r m ana g em ent s taff, t he l o s s of s u ch perso nnel w i thou t a d e q u a te rep l a cement s co u l d a d versely affe c t ou r bu s ine s s . In a d dit i o n , we b el i eve tha t o u r fu t u re s u cce s s w i l l d epend u po n ou r a b ilit y to a t t ra c t, retain and m ot iva te o u r sen i o r m a na g ement. O u r i na b i l i t y to d o so wou l d a dversely affe c t ou r per fo rm anc e.
Th e re i s a p o s s i b i l i t y th a t o u r Sh are val u e m a y va ry wi d e l y f ro m o u r fin a n c i a l roa d m a p a n d t hi s m a y affe c t yo u r i nve s tm e n t We exp ec t the va l u e of o u r S ha re s to b e vo l a t il e and m ay re s po nd to, am o ng ot hers , t he fo l l ow i ng fa c to rs , so me of w h i ch a re b eyo nd ou r c o nt ro l: va ri a t i o n s of o u r o p era t i ng re s u l ts ; cha ng e s i n i nve s to r ' e s t i ma te s of ou r financ i al per fo rm anc e ; a d d i ti o n s o r d ep a r t u re s of o u r ke y exe c u t ive s ; m a teri a l cha ng e s o r` u ncer ta i nt y in t he po lit i c al , e c o no m i c and re gu l a to ry env i ro n ment i n t he ma rket s t ha t we o pera te in; i nvo l vement i n l i t i g a t i o n ; a nd g enera l e co no mi c co nd i t i o n s . Fu t ure sa l e s of o u r Sh are s c o u l d a d ve r se l y a ffe c t o u r Sh a re va lu e The sa l e of a s i g n i fi ca nt a mo u nt of S hare s am o ng s hareho l d ers after t he Invita t i o n , o r t he p erc epti o n tha t s u ch sa l e s ma y o ccu r, c ou l d m a teri ally and a d versely affe c t t he perc eive d va l u e of ou r S ha re s . The se fa c to rs a l so a ffe c t ou r a b ilit y to is s u e a d d it i o nal e q u it y se c u rit i e s fo r s u b sc ri pti o n i n fu t u re. Co n t ro l of exi s ti n g s h are h o l d e r s m a y l i mit o u r a b ilit y to in flu e n c e th e o u tc o m e of d e c i s i o ns re q u i r i n g th e a p p roval of s h are h o l d e r s U p o n c o m p l et i o n of t he I nv i ta t i o n , we ant i c ipa te t ha t ou r D ire c to rs and exis t ing s ha reho l d ers a nd t hei r As so ci a te s w i l l co ll e c t ively own m aj o rit y of ou r enl arg e d s hare c a p i ta l . The se s ha reho l d ers , a c t i ng to g et her, wou l d be a b l e to s i gnifi c ant ly influ enc e ou r c o r p o ra te a c t i o n s s u ch a s merg ers o r take over a t tem pt s in a m anner t ha t c ou l d c o nfli c t w i th the i ntere s t s of o u r ot hers s ha reho l d ers . Fu t ure d i l u t i o n d u e to fu tu re c a p i tal re q u ire m e n ts O ur wo rk i ng ca p i ta l a nd ca p i ta l ex p endit u re ne e d s m ay vary m a teri ally fro m t ho se p re sentl y p l a n ne d , d ep end i ng o n nu m erou s fa c to rs inclu ding t he ra te of m arket a c c epta nc e of o u r p ro d u c t s & ser v i ce s , s t ra te gi c alli anc e s , fa c ilit i e s fe a t u re s and m a rketi ng s tra te g i e s , l evel s a nd re s u l t s of re se arch and d evel o pm ent and ot her fa c to rs w h i ch c a n not b e fo re se en . I f we d o not m e et ou r g oals wit h re s pe c t to revenu e s , o r if c o s t s a re h i g her tha n a nt i ci p a te d , s u b s ta nt i a l a d d it i o nal fu nd s m ay be re q u ire d. Even if we exc eed ou r g o a l s , o u r s u cce s s ma y i nt rod u c e new o p po r t u nit i e s t ha t m ay have to be f u l f i l l e d q ui ck l y a nd t h i s co u l d a l so re s u lt in t he ne e d fo r s u b s tant i al new c a p ital . To t he ex tent tha t f u nd s g enera te d fro m o p era t i o ns tog et her wit h t he p roc e e ds fro m t his Invita t i o n ha ve b e en ex ha u s te d , we ma y ha ve to raise a d d it i o nal fu nds to m e et t he new c a p ital re q ui rem ents . The se a d d i t i o na l fu nd s may be raise d by way of t hrou gh t he is s u anc e of new s ha res . I n s u ch event, i f a n y s ha reho l d er is u na b l e o r u nwilling to par t i c ipa te in t his a d d i ti o na l ro u nd of fu nd ra i s i ng , s u ch s hareho l d er m ay s u ffer d ilu t i o n in his inve s t m ent.
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G ro u p H o l din g - B l a c k Pe g a s u s B e r h a d B l a ck Pe g a s u s B erha d fou nd e d o n 21 s t J u ly 2 016 , B y D r. Wo ng J eh S hy a n . The c o m pany wa s rem ain d o rm ant u nt il t he fo u nd i ng of CO 3 , where it ha d j o in fo rc e s wit h several ent rep reneu rs , vent u re ca p italis t, and influ ent i al c o m pani e s . Ea ch of ever yo ne of t he fo u nd ers have a se a t in t he B oard of D ire c to rs , o r a p p o i nte d o ne rep re senta t ive. The g o a l i s s i m p l e, re d efining WO RK-LI F E -BA LA N C E. I n s p i re d b y Pa y Pa l M a fi a , a grou p of M al ays i an and Bru nei an ent rep reneu rs ha ve s i nc e s tar te d t heir se c o nd vent u re and co - fo u nd e d C 0 3 w i t h t he a s p ira t i o n to influ enc e hu m an wo rk ing b eha v i o r a nd a i ms to be a U S $ 2 b n u ni c o rn by 2 0 2 2 . M o s t of t he memb ers a re fro m t he elu s ive grou p k nown a s M ira cl e of C a p i ta l ( M O C ) a t so me po int in t heir life and t he y are well t ra i ne d in c a p ital m e chanis m .
ABOUT CO I I I SOCI A L O FFI CE
The Wo rk S pa c e fo r N ew Genera t i o ns K L C i t y | K L S ent ral | PJ | Pu cho ng | M ine s CO I I I s ha p e s t he fo u nd a t i o n fo r bu s ine s se s . We em p ha s ize and a u g ment ou r t hre e c o re valu e s :
CO nnec tivit y, CO ll a bo ra ti o n and CO mmunit y.
S o ci a l O ffi ce i s o u r cho sen term to enc o m pa s s t he s pe c t ru m of so ci a l net wo rk s fro m vir t u al to p hys i c al . We o pen u p ou r Eco sys tem to i nd i v i d u a l s and bu s ine s se s to give t heir be s t every s ingl e d ay. O ffi ce s a re t ra n s fo rmed into hip c o m mu nal living s pa c e s , cowo rkers b o nd i nto g o od fri end s , bu il ding c am ara d eri e and fo rmi ng net wo rk s . Ever y d ay wo rk p l a c e now t rans fo rm e d into a co o l p l a t fo rm w here pe o p l e fro m d ifferent c o m pani e s / o rg a n i sa t i o n s wo rk i ng u nd er t he sam e roof c an choo se o r s hare i d e a s fre ely. The new wo rk s p a ce i s now fl exib l e, c o m mu nal and fu n . We are re d efi n i ng t he WO R K-LI F E-BA LA N CE.
“ CO I I I , a p l a c e to c all h o m e an d n eve r wan ts to q u it�
FOUNDERS & BOARD OF DIRECTORS
Dr. WO N G J eh S hy a n
Mr. YO N G C hen H u i
C h ai r m an
M a n a gin g D ire c to r
Mr. WO N G H o ng C he e, N i ck y E xec u ti ve D i re c to r
Mr. O N G Koo n S i ang , J eff Exe c u ti ve D ire c to r ( C o r p o ra te Rep re senta ti ve fro m S i x S tre a m s B hd )
M s . L EE Fo ng Thy e, M i l l y
Mr. TEO H S ew C hu an , C alvin
D i re c to r
D ire c to r
Mr. G O H Ki a t C hu n , D i re c to r
å°Š
Mr. WO N G Khang Y en , Eu g ene D ire c to r ( E xe c u ti ve D i re c to r & G . C M O of S i n C hew M e d i a C o r p o ra ti o n B hd )
01.
“ The Killing Moon, Incubator...� D was the former-CEO of r. Jeh Shyan Wong
CommerceNet Singapore from 2000-2010.
He currently heads the CNSG Consulting Group as the Consulting Partner, and also serves as the founding partner in Shyan Associates in Singapore, and co-founded Orientis VC in South Africa. He currently advises multiple start-ups and investment groups.
Dr. Jeh Shyan Wong Co-Founder and Chairman
Dr. Wong specialises in corporate restructuring and corporate turn-around; revenue streams development and cashflow
management; mergers and acquisition. His forte includes sophisticated financial modeling and business modelling. He is also well known for aggressive merger and acquisition techniques and innovative financial engineering. He often leads complicated cross national boundary pilot projects, with a special focus on high risks catalyst/strategic ventures. He is also a proponent of investment trusts. Dr. Wong co-founded CO3 in 2016 with the aim to disrupt the office scene and democratise beautiful work environment to everyone.
02.
“ The Business Warrior, whatever it takes... W the Inconceivable”, he
ith a motto - “Achieving
embark on his fortune building ten years ago from a rented low-cost apartment in Setapak, Kuala Lumpur. With a rallying call, “No Wall Left Naked”, his company Korea Wallpaper had succeeded in setting up unprecedented wallpaper trend in Malaysia.
Mr. YONG Chen Hui
Founder & CEO CO3 & Korea Wallpaper Group
As the CEO, Mr. Yong embodies the creativity and innovation that keeps Korea Wallpaper ahead of the competition. Under his strong business acumen and
leadership, Korea Wallpaper has grown into a leading brand in Malaysia. It won several business awards including 2015 SME Brand Excellence Award & 2016 JCI Creative Young Entrepreneur. Mr. Yong has also ventured into developing social offices, he co-founded CO3 with the aspiration to inspires people to give their best everyday through a series of cool workplaces.
03.
Dream Creator “Vision fast forward� A entrepreneur, Nicky Wong
is the co-founder of Globalzone Pte Ltd. He holds an Engineering Diploma from the UK and Computer Science Degree from Vancouver. He has accumulated vast experience in the I.T. industry over 15 years. His mobile apps company Infindo raised US$1m early stage funding from Singapore VC Accel-X. He also founded Brunei's top E-Commerce website, 365eStore.com. He was featured in the TOP 10 Brunei entrepreneurs publication.
Taiwan and Brunei operations. His group of companies held the master franchise for Gong Cha and Burger King in Brunei and Sabah. His dedicated entrepreneurial leadership, together with a team of energetic, motivated and talented key management, focus on different market tiers and customers. He contributes back to society by actively mentoring new startups and interns. He targets combining knowledge of modern technology with unique business model to build recognised brands franchise.
Nicky's F&B group include the famous Bake Culture, CheezBox, Pan & Wok and Bite Twice. Bake Culture targets to open its first China flagship in Q2 2017, in addition to its
Nicky's latest venture, CO3, is a new generation co-working space. It provides business services provision model, serving individuals working independently or collaboratively in shared office space.
Brunei-born serial
Mr. Nicky WONG
Co-Founder & Executive Director
04.
“I don’t design, I create” J experience in property auction and real estate
eff has more than 10-years
industry. He first joined an auction firm Ng Chan Mau in year 2006 before joining the real estate industry in year 2008. He initially focused on KLCC and KL Sentral properties, which led him to set up Dreamvest with a staff-strength of about 350 agents. The company specialised in selling properties in secondary market and new launch projects.
Mr. Jeff ONG Koon Siang Executive Director Head of Sales & Marketing
Jeff joined MOC programmes in year 2015, and invested into MOC Capital Berhad. With his augment network, Jeff co-founded Six Streams Berhad and Synergiem Berhad. Six Streams focused on turning non-performing assets into 'Gold', while
Synergiem focused on property agency collaboration acting as a platform. Both companies shared a determined aspiration: "To be ASEAN No.1 Finance Powerhouse.” Jeff is a dedicated team player. He is always willing to sacrifice for his team. He loves collaboration, making new friends and building high value network. His passion in dealing with youngster and new generation saw him launched "Project 90's" in his real estate company. The focus is to understand youths born in the 90's and to train them as next generation leaders. He co-founded CO3 with the passion to connect youngster, new startup to the coolest social office.
05.
“Caring & Listening to make a Difference� M and helpful, and strongly illy is known to be caring
believes and upholds that integrity and sincerity is of utmost importance. She started her career as an insurance partner of Great Eastern Insurance in 1992. She took on an ambitious tasks of assisting business people in assessing their business portfolio and risks management.
Ms. Milly LEE Fong Thye Co-Founder & Director
Milly's hard work and noble intent has continuously earned her the highest recognition in the industry (Million Dollar Round Table) since 1996 to date, a record consecutive 20-years. She was the recipient of the prestigious Great Eastern Centennial Award in 2007 and 2008.
Milly co-founded CO3 to continue her enthusiasm in assisting and educating startups and aspiring entrepreneurs. As the Director, her vision is to build an organization that educates, incubates and assists business entities, entrepreneurs, investors to achieve their passion and life goals.
06.
“Humour with Passion� Cacts as CEO of Local
alvin co-founded and
Mr. Calvin TEOH Co-Founder & Director
Holdings Sdn. Bhd. propelling the company to unparalleled heights. He graduated with Master of Business Administration (MBA) from Preston University in 2008. He believes in the importance of QCD (Quality, Cost & Delivery) management approach. The focus on low cost, high-quality, customer-centric approach to managing business enables him to position Local Basic as the lowest cost producer in ones' industry, without compromising quality or customer focus. Calvin knows that companies need to revitalise their process, improve competencies and skills in response to the economy volatility. He stressed on cost leadership via readiness assessment, setting monthly KPI’s to deliver the appropriate implementation
orientation to achieve the desired effectiveness and efficiency. Calvin co-founded CO3 to connect people and challenges himself to explore new things from new angles. In co-working spaces he finds it interesting to see people from all walks of life and businesses big or small, connecting with one another sharing ideas. He knows the potency of creativite sparks coupled with committed and enthusiastic people will result to unparalleled output. He understands that to harness the full potential of co-working business model, it requires openness within the community, selfless collaboration, connectivity, sustainability and accessibility.
07.
“A believer in change for betterment” H fame as member of the
aving enjoyed worldwide
popular boy band Fahrenheit, Wu Chun as he is better known globally, is currently into his 10th year in showbiz. With endorsements for international brands such as BMW, Coca Cola, Levi's, Canon and Allianz, and numerous cover appearances in global magazines such as GQ, Elle and Esquire, Wu Chun has also enjoyed blockbuster success in movies and TV dramas with the popular TV reality show ‘Daddy Is Back’ having won millions of audience’s hearts worldwide.
Mr. GOH Kiat Chun, Wu Chun Co-Founder & Director
Away from the glamour of showbiz, Wu Chun is a noted entrepreneur and holds a Bachelor of Business Administration from the Royal Melbourne Institute of Technology in Australia. He founded Fitness Zone in 2003, the largest health and wellness club in Brunei, and currently in the process of expanding to China through JV and franchising model. He is also a
very hands-on entrepreneur, having built international brands such as The Energy Kitchen, Bake Culture, Burger King and Women Hair Atelier. CO3, his latest venture in the co-working space, aims to bridge the working community through social space sharing platform. His motto “Delivering Happiness" ensures staff are highly motivated to serve satisfied and loyal customers which builds long term successes for stakeholders. With numerous awards and recognition globally for his charitable and noteworthy causes, in addition to being a healthy lifestyle role model to youths and giving back to communities, Chun was most recently conferred the Excellent Youth Award by His Majesty Sultan Hassanal Bolkiah of Brunei for his visionary contribution in promoting Brunei internationally as well as his humble and selfless CSR contribution to the nation.
08.
“'Faithfulness and Sincerity pinnacle of principles” U Bachelor of
pon graduating with a
Mr. Eugene WONG Khang Yen Director
Communications (Hons) degree from Universiti Sains Malaysia in 1992, Eugene joined Sin Chew Media Corporation Berhad (SCMC) as Marketing Executive. Within a span of 24 years, he has charted an enviable career path to his present position as Executive Director and Group Chief Marketing Officer in one of the largest public-listed media groups in Malaysia and the region. Despite being labeled as an old guard – he is also firmly entrenched in the world of technological disruptions and media convergence. He still reads the print edition daily while keeping abreast of the constantly evolving social media trends of evolving consumers.
Eugene has served in various industry associations throughout his career, including Board Member of the Audit Bureau of Circulation, Chairman of Professional Development Committee of the Malaysia Newspaper Publishers Association (MNPA), Council member of Advertising Standard Authority Malaysia (ASA). In line with his marketing background, Eugene represented Sin Chew Media Corporation Bhd to sit on the board of CO3. Bringing on board his considerable resources and knowledge in media, he aims to propel CO3 to a whole new dimension in co-working solutions, communications and workspace.
MARKET DEMAND
HOW PEOPLE USED TO WORK
THE PROBLEMS
B u sine s s ha d to i ncu rre d H i g h C o s t, Fro m M ove- i n to M ove O u t
You m ay M isc al c u l a t ing C o m pany G rowt h , u nd er-e s t im a te o r over- e s t im a te is g o ing to re s u lt in rent ing too mu ch o r too lim ite d s pa c e, and it is very CO STLY
U ti l i ti es a nd M a i ntena nce, t he c o m m o n und ere s t i ma te d co s t to m o s t b u s i ne s s , a nd i t i s g o i ng to res u l t i n l a rg e b i l l s
Lo ng Le a se Term , o nc e you s i gne d o n t he tenanc y a gre em ent, it is g o ing to s t i ck y fo r 3 to 5 ye ars , o r l o ng er
M ak ing E m p l oye e M isera b l e D e c re a se Em p l o y e e p ro d u c t i v i t i e s
C o m mu ni c a t i o n l a ck of t ru s t
Re s u l t i n mo re s i ck d a ys
D isc ou ra g e C o ll a bo ra t i o n
Crea t i ng va s t p o l i t i ca l t u rmo i l
t he l i s t g o o n . .
Some had better office, like
S ource : http://2.b p.b l o g spot. c o m/-PB amh HR j SDQ/ TxuqSm RsPE I/A A A A AAAAC4o /F F W2-R vezX0/s1600/009_F 0_rec ept i o n . jp g
The y ha ve i m p res s i ve re cept i o n to wel co me you .
S ource : http://wi ral l y. c o m/wp-c o ntent/u p l oa ds/2016/03 / P 12 0 0 6 37. jp g
G oo g l e p rov i d e s a co m p l ete fre e me a l to it s em p l oye e s . The em p l oye e s swe ar by t he q u alit y of fo o d a nd g o a s fa r a s cl a i mi ng t ha t t he food is bet ter t han a 5 - S tar Lu xu ry H otel O r Re s ta urant in any c it y.
S ource : http://wi ral l y. c o m/wp-c o ntent/u p l oa ds/2016/0 3 / P 12 0 0 6 37. jp g
http://www.g o l dsbo ro u gh . me /g oogl e /i ntern sh i p/2016/11/18/ 01 - 57 - 5 4 - my _ g oog l e _ interns hip _ /
htt p s://www.p interes t.c o m/p i n /24 4249979768 414722/
ht t p s : / / www. liv ins p a c e s . net / wp - c o ntent / u p l oa d s / 2 015 / 0 8 / g oog l e _ of f i c e _ i m g3 . j p g
Go ogl e have a l ot of fun chill ou t area s where you can d o your wo rk , take a na p o r medita te.
htt p: / / ww w. of f i cel ov in .co m /wp- co ntent/u p l o a ds/2015/02 / g o o gl e -b u d a p e s t- of f i ce- 1.jpg
H t t p s : / / w w w. d eze en . c o m/ 2 012 / 07 / 3 0 / g oog l e - s u p er - hq - b y - p enso n/
Th e se a m a z i n g wo r k s p a c e s w i l l m a ke yo u e nvy I n s p i re s p e o p l e to g i ve t h e i r b e s t eve r y d a y
Th e p r o b l e m O nly ver y few p eo p l e have t he cha nce to wo rk t here
Th e S o l u t i o n
SOCIAL OFFICE
THE COWORKING JOURNEY
1995 A predecessor of coworking space,
2002 A community centre for entrepreneura
</> 1999 A space with flexible desks, established by a
2006 Citizen Space, one of the first official coworking spaces,
1ST HUB
2005 The first Hub was st up in London,
2007 The number of coworking spaces globally reached 75;
2008
The Coworking Visa programme, catering to travelling workers, was founded in the US.
2009
2010
600 coworking spaces worldwide.
The first official coworking space Betahaus, now home to c. 200 entrepreneurs, was opened in Germany.
2011
2012
Open Coworking, an organisation promoting cooperation between coworking spaces around the world, was
The movement nearly doubled every year; large companies started experimenting with coworking spaces.
2013
2015
By the end of the year the number of coworking spaces globally was predicted to reach 7,800.
More than 100,000 people were estimated to be using coworking spaces worldwide.
Innovation A g row i ng nu mb er of o rg anisa t i o ns are u t ilis ing c owo rk ing mo d el s to ta p i nto i n nova t ive i d e a s , te chno l ogy and to co l l a b o ra te w i t h s ta r t - u p s . A c o ll a bo ra t ive wo rk enviro nm ent ha s l o ng b e en l i n ke d to innova t i o n , whi ch is o ne of t he ke y d rivers of b u s i ne s s g row t h .C owo rk ing s pa c e c an p rovi d e a po s it ive a t m o s p here fo r cre a t i ve t h i n k i ng a nd a c c e s s to new i d e a s , a p p roa che s , o r te chno logies.
Flexibility Co m p a n i e s a re b ei ng cha l l eng e d to s u p p o r t m o re m o b il e and fl exib l e fo rm s of wo rk i ng. There i s a l so g row i ng p re s s u re to b ring m o re fl exib ilit y to the re a l e s ta te p o r t fo l i o a nd cre a te g re a ter vo lu m e s of o n-d em and spa c e. Cowo rk i ng ca n hel p sa t i s fy t h i s g row ing d em and fo r a gilit y, f lui d i t y, a nd l i q u i d i t y of s p a ce, w h i l s t a l l owing c o m pani e s to experim ent in a ri ng - fenc e d envi ro n m ent w i t ho u t t he ne e d fo r o rg a n i sa t i o n- wi d e chang e.
64%
of C R E l e a d ers note d g row i ng a p p eti te to d ri ve f l ex i b i l i t y th ro u g h the re a l e s ta te p o r tfo l i o
5 6% of CRE l ea d ers rep o r te incre a se d d emand to s u p p o r t the wi d er co rpo ra te a g end a arou nd tal ent
Talent The wa r fo r tal ent rem ains intense. wit h 7 3 % of C EOâ&#x20AC;&#x2122;s c it ing a va i l a b i l i t y of s k ills a s a seri ou s c o nc ern . At t he sam e t im e, g row t h i n m o b il e te chno l ogy and changing em p l oye e p referenc e s m e an t ha t c o m pani e s ne e d to p rovi d e a rang e of wo rk set t ing s tail o re d to t he new way of wo rk ing. C owo rk ing ca n p rov i d e em p l oye e s wit h t he m o b ilit y and fl exib ilit y t he y a re se ek i ng. in an ae s t het i c ally a p pe aling enviro nm ent.
Cost Reduction C o m p a n i e s c o nt i nu e to fa ce i nten se p re s s u re to re d u c e t he o pera t ing exp en se of thei r re a l e s ta te p o r t fo l i o s . C o s t re d u c t i o n is not t yp i c ally t he p ri m a r y d ri ver of cowo rk ng ; never t h l e s s , it c an c re a te an o p po r t u nini t y fo r m o re ef f i ci ent u t i l i sa t i o n of s p a ce, help ing c o m pani e s to re d u c e co s ts w i thou t c o m p ro mi s i ng o n t he q u a l i t y of wo rk s pa c e. C owo rk ing hu b s c a n even a c t a s a revenu e g enera t i o n o p po r t u nit y. when a p p roa ched i n t he ri g ht wa y.
77% of C R E l e a d ers rep o r t i nc re a se d d em a n s fro m sen i o r l e a d ersh i p to re du c e the o p era ti ng ex p en se of re a l e s ta te p o r tfo l i o s
SOCIAL OFFICE
Building Malaysiaâ&#x20AC;&#x2122;s Coolest office by June 2017
FACILITIES In CO3 Social Office, to inspire the member spark the best of themselves, we had construct our facilities with the â&#x20AC;&#x153;Heartwareâ&#x20AC;? in mind. For example, the common space are designed to have multi-layer of height across desk, table, sofa and etc, to create the spaces within space. This is to allow our member to enjoy the maximum of freedom and comfortable of their interaction with each others. Likewise, we have event hall equipped with stage for variety of event and function, to be enjoy by our members.
Photo by Google
Creating space within space
Performance Stage
Photo by Google
Private room Photo by Google
Unique meeting room
Phonebooth
Mini Library
Sleeping Pot
Music & Sound System
FAT PILE WIFI
Business meeting does not necessary need to be conventional, we have uniquely designed, open concept of meeting for our member, to fuel their innovative source, inspire the best ideas. In addition, numerous of private room to accommodate different size of team needs, better yet, they are adjustable to member needs. Phonebooth, is also available for every member. Unquestionably, our facilities go beyond conventional office, to recognize the need of relaxation.
Thus, we had our very own cosy design of sleeping pot, for napping and resting. Some may carve to slow down, digging into the world of books. We have a library build just for that, thousands books and magazines with the latest collection of business magazines, articles, newspaper, novel and many more. Believe it or not, our member get to read in the air, with our very own spider web. While member are enjoying our extensive list of facilities, they will also be surround by 1st Class of high speed internet connection, in our
CO3 term, the FAT PILE WIFI. Of course, good music with the top of the class sound system will be on in air, non-stop. Fun, is one of our key community element, as to consistent with the work-life integration. Slider is here in CO3 Social Office, the best alternative to the staircase, fast, easy, and FUN. Furthermore, lengthy selection of games equipment, and tools, are included in our games room, fuel with new trending games and tools from time to time.
Why take staircase? Slider is here for you
Game room
Turning the boring desk into your game table anytime
EVENTS At CO3 Social Office, not only we will initiate tons of events, we also encourage community member to initiate events, to interact, social with other member, connect like-minded people to get together, speak the same languages, sharing the same common value. These events could be Business Pitching, Idea Sharing, Educational Workshop, Yoga class, Dance, or even outdoor activities, like Sport Tournament, Cycling, hiking and many more.
HAPPINESS Letâ&#x20AC;&#x2122;s admit, Happiness is subjective, but one thing for sure, eating good food will definitely spark the flame of joy in our heart. Hence, we have, lengthy selection of cereal choices in our Cereal Corner, hand picked daily fresh fruits in our fruits bar, high quality coffee freshly brew everyday from whole beans, handmade pastry baked daily, and variety of local breakfast choices, and hundred type beverages ready for pick up.
Cereal Corner
High Quality Coffee
Local breakfast
Handmade Pastry
Hundred type of beverages
Photo
HAPPINESS Make no mistake, we are not trying to put a Supermarket in our Office, because there will be no cashier, no payment counter, nothing of that sort. Instead, all transaction are to be done via Honesty System, everything build on our key value, TRUST. And all of this, facilities, events, food and beverages are open to our member 24 / 7, without any limitations, just like HOME. Some may said, Success is the source of Happiness, but in CO3, we believe Happiness is the source of success.
MARKET SURVEY
THE 4TH INDUSTRIAL REVOLUTION
WO RK
PLAY
LIVE
GO
Changing wo rk enviro nments and fl exib l e wo rking arrang ements , being o ne of the key driver of chang e in Fu ture J o b s Sur vey, by Wo rl d Eco no mi c Fo rum . Ra ted a s To p Chang e – 4 4% Expec ted Time Frame – Im pa c t felt alrea dy D efiniti o n – N ew techno l ogi es are ena b ling wo rkp l a ce innova ti o ns su ch a s remote wo rking , Co-Wo rking spa ces and tel eco nferencing. O rg aniza ti o ns are likely to have an ever-small er poo l of co re full-time em p l oyees fo r fixed func ti o n , ba cked u p by co ll ea gu es in other countri es and ex ternal co nsultants and co ntra c to rs fo r specifi c p roj ec ts .
Real Es ta te is a hu g e co s t i n p rofes s i o na l ser vi ce s , arou nd 9% of revenu e o n a vera g e. PwCâ&#x20AC;&#x2122;s cu rrent g oal i s to dri ve t ha t d own to j u s t 2%, whi ch meant i t c o ul d sa ve a s mu ch a s $850 milli o n a y ea r. Caro l S awdye, V i ce Chairman & CFO of PwC
In South-East Asia, 10-15% of office are Coworking Space 1-5%
2015
2020 E
0.5-1%
5-10% 1-5% Developed Markets
20-30% 10-15%
SEA
2030 E
This number expected to be double for developed markets
SEA
Number of Global Coworking Members 2016 Forecast 3.8 million
4000000 3500000 3.1 million 3000000 2500000
2.3 million
2000000 1.6 million 1500000 976,000
1000000 500000 0 2014
2015
2016
2017
2018
2019
2020
The number of global Co-Working members are forecasted to reach 1.6 million in year 2017, and 3.8 million in 2020.
The compound annual growth rate are 41%
Coworking Member are expecting to be 400% increased.
FINANCIAL FORECAST
KEY INDICATORS KEY INDICATORS S o c i a l S p a c e - Loc a ti o n S o c i a l S p a c e - Sq f t Avera g e S q f t / Loc a ti o n S qf t / M emb er S p a c e C a p a c i t y / M em ber Tu rna ro u nd Ra te Tota l S p a c e C a p a c i t y / M em ber Ta rg et O c c u p a nc y Ra te E xp e c te d M emb ers
2017
2018
2019
2020
2021
2022
5
10
15
20
30
40
15 0 , 0 0 0
300,000
450,000
600,000
900,000
1, 2 0 0 , 000
3 0 ,0 0 0
30,000
30,000
30,000
30,000
3 0 , 000
80
80
80
80
80
80
1,87 5
3,750
5,625
7, 5 0 0
11, 2 5 0
15 , 000
1.6 0
1. 6 0
1. 6 0
1. 6 0
1. 6 0
1. 6 0
3,000.00
6,000.00
9,000.00
12 , 0 0 0 . 0 0
18 , 0 0 0 . 0 0
24 , 0 0 0. 00
80%
80%
80%
80%
80%
80%
2,400.00
4,800.00
7, 2 0 0 . 0 0
9,600.00
14 , 4 0 0 . 0 0
19 , 2 0 0. 00
KEY MATRICS KEY MATRICS
2017
2018
2019
2020
2021
S o c i al Sp a c e S et -U p C ost / S qf t
15 0 .0 0
15 0 . 0 0
15 0 . 0 0
15 0 . 0 0
15 0 . 0 0
S e c u r i t y De p os i t s / Re ntal Cost (M o nt h)
3
3
3
3
3
3
S e c u r i t y De p o s i t s / Sq ft
-
-
-
-
-
-
n t al a l Cos Co s t / Sq f t Re nt
-
-
-
-
-
-
U ti li t i e s Cos t / S q ft
2.50
2.50
2.50
2.50
2.50
2 . 50
Ma i n ta i n a nce , Cl e a ning and S e cu r i t y Se r v i c e C os t / Sqf t
1.0 0
1. 0 0
1. 0 0
1. 0 0
1. 0 0
1. 0 0
F & B Se r v i c e Co s t / S qf t
1.5 0
1. 5 0
1. 5 0
1. 5 0
1. 5 0
1. 5 0
Co r e T e am M a nag e me nt Co st / Sqft
3.00
3.00
3.00
3.00
3.00
3 . 00
1,10 0 . 0 0
1,10 0 . 0 0
1,10 0 . 0 0
1,10 0 . 0 0
1,10 0 . 0 0
1,10 0. 00
3
3
3
3
3
3
Me mb e r s hi p F e e s / Me mbe r / M on t h Memb e r D e p os i t ('M onth )
2022 15 0 . 0 0
INCOME STATEMENT INCOME STATEMENT ('000)
2017’F
2018’F
2019’F
2020’F
2021’F
2022’F
M emb ers h i p Fe e s
31,6 8 0 . 0 0
63,360.00
95,040.00
12 6 , 7 2 0 . 0 0
19 0 , 0 8 0 . 0 0
2 5 3 , 4 40. 00
TOTAL REVENUE
31, 6 8 0 . 0 0
63,360.00
95,040.00
12 6 , 7 2 0 . 0 0
19 0 , 0 8 0 . 0 0
2 5 3 , 4 40.00
Renta l C o s t
-
-
-
-
-
-
U ti l i t i e s C o s t
4,500.00
9,000.00
13 , 5 0 0 . 0 0
18 , 0 0 0 . 0 0
27, 0 0 0 . 0 0
3 6 , 0 00. 00
M a i nta i na nc e, C l e aning and S ec u ri t y S er v i c e C o s t
1,8 0 0 . 0 0
3,600.00
5,400.00
7, 2 0 0 . 0 0
10 , 8 0 0 . 0 0
14 , 4 00. 00
F & B S er v i c e C o s t
2,700.00
5,400.00
8 ,10 0 . 0 0
10 , 8 0 0 . 0 0
16 , 2 0 0 . 0 0
21, 6 00. 00
Co re Te a m M a na g em ent Co s t
5,400.00
10 , 8 0 0 . 0 0
16 , 2 0 0 . 0 0
21, 6 0 0 . 0 0
32,400.00
4 3 , 2 00. 00
17, 2 8 0 . 0 0
34,560.00
51, 8 4 0 . 0 0
6 9 ,12 0 . 0 0
10 3 , 6 8 0 . 0 0
13 8 , 2 40.00
5 4 .5 5 %
54.55%
54.55%
54.55%
54.55%
5 4 . 5 5%
3,750.00
8 ,12 5 . 0 0
13 , 2 2 9 .17
19 ,18 4 . 0 3
2 9 , 8 81. 37
4 2 , 3 61. 59
13 , 5 3 0 . 0 0
26,435.00
3 8 , 610 . 8 3
4 9 , 9 3 5 . 97
73,798.63
9 5 , 878.41
Ta xa t i o n ( '24 % )
3 , 247. 2 0
6,344.40
9,266.60
11, 9 8 4 . 6 3
17, 711. 67
2 3 , 010. 82
NET INCOME
10 , 2 8 2 . 8 0
20,090.60
29,344.23
37, 9 51. 3 4
56,086.96
7 2 , 8 67.59
REVENUE
COST & EXPENSES
EBITDA % M a rg i n D ep re c i a t i o n
PROFIT BEFORE TAX
CASH FLOW STATEMENT CASH FLOW STATEMENT ('000)
2017’F
2018’F
2019’F
2020’F
2021’F
2022’F
10 , 2 8 2 . 8 0
20,090.60
29,344.23
37, 9 51. 3 4
56,086.96
7 2 , 8 67. 59
D ep re c i a t i o n
3,750.00
8 ,12 5 . 0 0
13 , 2 2 9 .17
19 ,18 4 . 0 3
2 9 , 8 81. 37
4 2 , 3 61. 59
Fu nd Ra i se d
14 0 , 0 0 0 . 0 0
98,000.00
200,000.00
200,250.00
305,000.00
1, 6 4 0 , 000. 00
-
3,750.00
8 ,12 5 . 0 0
13 , 2 2 9 .17
19 ,18 4 . 0 3
2 9 , 8 81. 37
22,500.00
22,500.00
22,500.00
22,500.00
45,000.00
4 5 , 0 00. 00
131, 5 3 2 . 8 0
99,965.60
211, 94 8 . 4 0
2 21, 6 5 6 . 2 0
326,784.30
1, 6 8 0 , 3 47.82
NE T I N CO M E Ad d:
Le s s : Renova t i o n o n Ex i s t i ng S pa c e N ew S p a c e S et -U p Co s t
NE T CAS H FLOW
BALANCE SHEET BALANCE SHEET ('000)
2017’F
2018’F
2019’F
2020’F
2021’F
2022’F
N et PP& E
18 , 7 5 0 . 0 0
3 6 , 87 5 . 0 0
5 4 , 27 0 . 8 3
7 0 , 815 . 97
10 5 ,118 . 6 3
137, 6 3 8. 41
Ca s h
131, 5 3 2 . 8 0
2 31, 4 9 8 . 4 0
443,446.80
6 6 5 ,10 3 . 0 0
9 91, 8 87. 3 0
2 , 67 2 , 2 35.12
7,9 2 0 . 0 0
15 , 8 4 0 . 0 0
2 3 , 76 0 . 0 0
31, 6 8 0 . 0 0
47, 5 2 0 . 0 0
6 3 , 3 6 0. 00
15 8 , 2 0 2 . 8 0
2 8 4 , 213 . 4 0
5 21, 477. 6 3
767, 5 9 8 . 97
1,14 4 , 5 2 5 . 9 3
2 , 87 3 , 2 33.52
M emb er S e c u ri t y D epo sit
7,9 2 0 . 0 0
15 , 8 4 0 . 0 0
2 3 , 76 0 . 0 0
31, 6 8 0 . 0 0
47, 5 2 0 . 0 0
6 3 , 3 6 0. 00
TOTA L L I A B I L I T I E S
7, 9 2 0 . 0 0
15 , 8 4 0 . 0 0
2 3 , 76 0 . 0 0
31, 6 8 0 . 0 0
47, 5 2 0 . 0 0
6 3 , 3 60.00
15 0 ,2 8 2 . 8 0
2 6 8 , 37 3 . 4 0
4 97, 717. 6 3
7 3 5 , 918 . 97
1, 0 97, 0 0 5 . 9 3
2 , 8 0 9 , 873. 52
15 8 , 2 0 2 . 8 0
2 8 4 , 213 . 4 0
5 21, 477. 6 3
767, 5 9 8 . 97
1,14 4 , 5 2 5 . 9 3
2 , 87 3 , 2 33.52
AS S E TS
M emb er S e c u ri t y D epo sit
TOTA L AS S E TS
Eq u i t y
TOTA L L I A B I L I T I E S & E Q U I T Y
YEAR ROUNDS YEAR ROUNDS
2017 Angel
2017 Angel II
2018 Series A
2019 Series B
2020 Series C
2021 Series D
2022 IPO
Va l u a t i o n ( '0 0 0 )
235,000
4 8 0 ,0 0 0
980,000
2,000,000
4,005,000
6 ,10 0 , 0 0 0
8 , 2 0 0 , 000
15%
15%
10 %
10 %
5%
5%
20%
35,250
72,000
98,000
200,000
200,250
305,000
1, 6 4 0, 000
1
5
10
15
20
30
40
300
3,000
2,500
5,000
10 , 0 0 0
20,000
2 0 , 000
783.33
16 0 .0 0
392.00
400.00
400.50
305.00
410 . 00
Dilu t i o n %
Fu nd Ra i se d ( '0 0 0 )
N o. S oc i a l S p a c e
M em b er
Va l u a t i o n / M emb er